Global demand for Botanical Co2 Extracts is expected to reach a market valuation of USD 0.1 Billion by the end of the year 2023, accelerating at a CAGR of 3.5% over the forecast period (2023 to 2033).
The Botanical Co2 Extracts market is relatively niche and is experiencing utmost and rapid growth, driven by demand from a variety of industries, including aromatherapy, cosmetics, and food and beverage.
Growing awareness of benefits relating to the consumption and application of botanical extracts is increasing demand for natural and organic products, thereby leading to the botanical Co2 extracts market expansion. The market is supported by:
North America, followed by Europe, are the major market for Botanical Co2 Extracts owing to the higher number of population getting affected by trends in health and wellness, along with the presence of a large number of manufacturers. The key players in the sector are working on new and innovative ingredients to improve the taste and nutritional profile of their products using these extracts.
The United States of America in the North American region accounts for the highest growth owing to the increasing popularity of Botanical Co2 Extracts as a unique ingredient for its food items, making it an attractive option for manufacturers.
Apart from the North American region, the expansion of the retail and foodservice industry and the increasing populations in the Asia Pacific region leading to a rise in disposable income are targeted towards massive market development.
Due to this, consumers are becoming increasingly interested and are willing to pay for products made with Botanical Co2 Extracts. Furthermore, increasing demand for natural and organic products in countries such as China and India, as well as the growing awareness of the health benefits of botanical extracts in the region.
Key producers are working on manufacturing Botanical Co2 Extracts in order to gain a greater market share. Not just domestic players but a number of international market participants are developing and using new technology to increase commercial capacity to gain a major revenue share.
Some of these companies include FloraTech, Eden Botanicals, Koster Keunen, and Aromachem. Other notable players in the market include Botanical Extraction Company, Biotech Natural Oils, and S.A. Herber.
These companies have a strong presence in the market and are adopting various strategies like focussing on product quality and pricing, developing Botanical Co2 Extracts based products. Alongside these factors, the key players are competing on the basis of product quality, price, brand reputation, and distribution network.
For instance, Layn Natural Ingredients expanded its portfolio of Non-GMO Project Verified botanical extracts to meet the growing demand for non-GMO label claims and natural ingredients in the food and beverage industry. The company added a dozen new botanical extracts to its portfolio, which focuses on polyphenol-rich ingredients that offer high functional benefits in sports nutrition, dietary supplements, and food and beverage sector.
The expansion is in response to the increasing health-conscious consumer demands. The company expects to see continued interest in its tea extracts portfolio for natural energy, functional, metabolic antioxidant portfolio for immune support, gut health, brain health, and healthy aging in nutraceuticals and supplements.
Apart from the key market players, startups are also differentiating themselves by focussing on innovative new extraction methods or technologies. One example of a startup in this market is Blue River Technology, which uses machine learning to develop new CO2 extraction methods that are more efficient and cost-effective than traditional methods.
Another example is Phyto Extractions, which offers a range of botanical CO2 extracts, including terpenes and CBD oil, that are derived from high-quality, sustainably-sourced raw materials.
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Essential oils are among the major ingredients used to manufacture different types of cosmetics to convey various characteristic fragrances. Over the years, the essential oil industry has transformed and led to bring innovative techniques to obtain ultra-pure herbal and botanical extracts. In the global extracts market, botanical CO2 extracts demand is increasing at a high growth rate owing to their high purity.
CO2 extracts are extremely pure plant extracts and free from chemical solvents such as heptane hexane or ethanol. Botanical CO2 extracts are similar to essential oils and can be used in aromatherapy and perfumes. Botanical CO2 extracts are more concentrated which help the manufacturers to add very less amount in end products, making the products more convenient and free from chemical solvents.
Owing to their similar benefits of essential oil, botanical CO2 extracts are gaining wide application in flavoring, cosmetics, and personal care and herbal medicine industries.
Prices of botanical CO2 extracts are highly volatile and prone to dynamic change. Dynamic pricing is attributed to the unstable supply of raw botanical and herbal products. For instance, if there is surplus production, prices go down and vice versa when production is less.
Botanical CO2 extracts are also known as supercritical fluid CO2 extracts or supercritical CO2 extracts. Botanical CO2 extracts are produced from the highly efficient extraction process and also leads to extremely pure plant extracts. There is lucrative growth of botanical CO2 extracts over the past few years and expected to show robust growth over the forecast period.
There is burgeoning demand for botanical CO2 extracts in cosmetics, personal care, and aromatherapies. The demand for botanical CO2 extract is also increasing in herbal medicines. Further, in the cosmetic and personal care industry, subsequent hike in demand for natural ingredients has significantly bolstered the demand for botanical CO2 extracts.
Generally, essential oils are extracted from steam distillation or hydro distillation, or extracted using chemical solvents such as heptane, hexane, and ethanol. On the other hand, increasing demand for aromatherapy in every region is also amplifying the demand of botanical CO2 extracts owing to its medicinal value which help the body to relax and get rid of anxiety and stress.
With the increasing demand for botanical CO2 extracts in various end-use industries, it can be anticipated that the demand for botanical CO2 extracts will boom over the forecast period.
In the global botanical CO2 extracts market, North America and Europe hold the major share in production and consumption of botanical CO2 extracts, owing to the presence of major global players in the region. Also, their awareness of botanical CO2 extract is contributing to increasing net sales.
On the other hand, South Asia is anticipated for high growth over the forecast period owing to the increasing footprint of global players in the region which also help to bring awareness among consumers by their attractive marketing strategies.
Demand for botanical CO2 extract is also expected to amplify in Latin America and the Middle East and Africa in coming years but the growth rate will be low as compared to South Asia.
The key players in the global botanical CO2 extracts market are:
The research report presents a comprehensive assessment of the botanical CO2 extracts and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as nature, source, end use and distribution channel.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Botanical CO2 Extracts Market
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