by Cosmetic botanical extracts are plant-based ingredients extracted from various botanical sources including flowers, leaves, fruits, stems, roots, and aromatic compounds like essential oils. These extracts are widely used in cosmetic products such as creams, lotions, shampoos, conditioners, ointments, gels, oils, soaps, and hair care products. They are sourced from edible as well as herbal plant sources and possess various cosmetic properties like anti-aging, brightening, moisturizing, smoothing, and nourishment. Some common botanical extracts used in cosmetics include fruit extracts like grapeseed extract, aloe vera extract, tomato extract and grapefruit extract, flower extracts such as rose extract, jasmine extract, hibiscus extract, and tea extracts and seaweed extracts. They are known for their anti-inflammatory, antimicrobial, hydrating, antioxidant, and skin rejuvenating properties.
The global cosmetic botanical extracts market is estimated to be valued at US$ 2.36 Bn in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing demand for natural and organic ingredients in cosmetic products acts as a major driver for the cosmetic botanical extracts market. Consumers are increasingly preferring cosmetic products with natural formulations as these extracts possess antioxidant and skin healing properties. This has compelled leading cosmetic manufacturers to focus on using naturally derived ingredients including various botanical extracts. Further, rise in health awareness among consumers and shift towards personal care products with organic and sustainable formulations also propels the demand for botanical extracts in cosmetics. Moreover, availability of large number of botanical sources for extracting ingredients economically also spurs the market growth.
Segment Analysis
The global cosmetic botanical extracts market is dominated by the skin care sub-segment. Skin care formulations constitute the major application of botanical extracts in cosmetics. Various botanical extracts such as aloe vera, chamomile, calendula, licorice and ginseng are widely used in skin care creams, lotions and serums due to their moisturizing, anti-aging and brightening properties. The anti-aging skin care products sub-segment within skin care holds the largest market share as consumers are willing to spend more on anti-aging creams and serums containing plant-based active ingredients that help reduce signs of aging like wrinkles, dark spots and dullness.
PEST Analysis
Political: The regulations related to the use of botanical ingredients in cosmetics vary across regions. The implementation of stricter quality standards and certification for botanical extracts by regulatory bodies in North America and Europe is driving the demand for natural and certified ingredients from reputed suppliers.
Economic: The rising disposable incomes and growing health consciousness among consumers globally is driving the demand for natural and organic personal care products containing botanical extracts. However, factors like currency fluctuations and uncertain economic conditions pose challenges for industry players.
Social: Changing lifestyles, increasing awareness about anti-aging skin care and natural ingredients are key social factors influencing the growth of the market. Consumers are more inclined towards plant-based cosmetic products due to rising health and environmental concerns.
Technological: Advanced extraction technologies like supercritical fluid extraction help improve the yield and concentration of phyto-actives from plants. This has enabled the development of innovative delivery systems and formulations containing concentrated botanical extracts.
Key Takeaways
Global Cosmetic Botanical Extracts Market Size is expected to witness high growth over the forecast period of 2023 to 2030, reaching a market size of US$ 3.8 billion by 2030.
Regional Analysis:
The Asia Pacific region holds the largest market share currently owing to rising disposable incomes, growing demand for herbal skin care products in countries like China, India and Japan. Key regional markets include North America and Western Europe as well.
Key players operating in the cosmetic botanical extracts market are MTI America, VPT (Virtual Physical Therapists), Conversa Health, MindStreet, Inc., MEDRISK, Global Outreach TeleRehabilitation Services, Inc., Empatha, GestureTek Inc., Neuro Rehab Vr, American Well, LiteGait, Doctor On Demand, Inc., Hinge Health, Inc., Care Innovations LLC., and Jintronix.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
