Floral Extract Market

Floral Extract Market Outlook

As per newly released data, the floral extract market is estimated at USD 2,966.9 million in 2024 and is projected to reach USD 4,832.8 million by 2034, at a CAGR of 5.0% from 2024 to 2034. The share of the floral extract market in its parent market (personal care ingredients market) is approximately ~5%-7%.

Currently, the market for floral extracts has been expanding steadily since people prefer products with natural and organic ingredients in cosmetic and personal products. This growth is attributed to an increase in clean beauty products and innovations in extraction techniques, coupled with an increase in adoption in pharmaceutical and F& B industries.

North America, Europe, and South America are however currently prominent markets but the growth in demand is estimated to be the highest in Asia-Pacific. Urbanization, increased disposable income, and awareness of the environment are some of the drivers that will lead to the growth of this market and make floral extracts an important component in various industries across the globe.

Attribute	Details
Current Floral Extract Market Size (2023A)	USD 2,818.9 Million
Estimated Floral Extract Market Size (2024E)	~USD 2,966.9 Million
Projected Floral Extract Market Size (2034F)	~USD 4,832.8 Million
Value CAGR (2024 to 2034)	~5.0%
Floral Extract Market Top Players' Share in 2023	~10%-15%

Key Points Covered in Floral Extract Market Survey

• Market Estimates and Forecast 2019 to 2034
• Key Drivers and Restraints Impacting Market Growth
• Regional Analysis, Segment-wise, and Country-wise Analysis
• Competition Mapping and Benchmarking
• Brand share and Market Share Analysis
• Key Product Innovations and Regulatory Climate
• COVID-19 Impact on Global Floral Extract Market and How to Navigate
• Recommendation on Key Winning Strategies

2019 to 2023 Global Floral Extract Market Outlook Compared to 2024 to 2034 Forecast

According to the analysis, the market of floral extract has seen a moderate growth rate from the year 2019 to 2023, primarily due to the rising usage of natural products in the production of personal care and cosmetic products. The historic market grew at a CAGR of about 4.2%, reaching USD 2,818.9 million by 2023 end.

Further, it is predicted that the market is set to grow, with a higher CAGR of 5.0% during the forecast period. Forecasting the given market, by 2034, it is expected to amount to USD 4,832.8 million. This is on the back of higher demand in the pharmaceutical industries, food and beverages industries as well as growth in the clean beauty segment.

Moreover, an increase in the middle-aged group of people in several developing countries and a rising interest in environmental sustainability will support the demand for floral extracts. North America and Europe will remain important markets, however, Asia-Pacific is forecast to have the highest growth rate due to strong and unceasing urbanization and improving disposable income.

The growing popularity of natural products, as well as their increased use in various types of cosmetic formulations such as hair care, facial treatment, and perfumes, resulted in the growth of the market for floral extract products.

Furthermore, factors such as changing lifestyles, consumption patterns, and rising demand for organic cosmetics are a driving force. People have become increasingly environmentally conscious and it has led to an increase in the number of manufacturers using plant extracts, including flower extract ingredients. These extracts are used in cosmetic formulations such as facial creams and body lotions, which will alternatively propel the market in the coming years.

Key Dynamics in the Global Floral Extract Market

An Emergence of Socially- Conscious Consumer to Boost Market Growth

A new global trend has emerged recently, the emergence of socially conscious consumers. Consumers' purchasing criteria have shifted as the demand for natural or organic products is on a progressive trend. This might be due to the increased awareness, putting pressure on manufacturers to produce natural ingredient mixed or organic products in line with the agenda towards sustainability.

Rising health & environmental concerns also generate demands for cosmetic products which are eco-friendly. The global socially conscious consumers want to purchase products which are good for them as well as for the planet. In this way, floral extract products which are completely natural and/or organic, are healthy and do not harm society. Thus, a growing demand for natural products from the floral extract market, especially essential oils has been observed in the floral extract market.

Country-wise Insights

How is the Growing Popularity of the Vegan Population Driving Product Sales in the USA?

Growing Vegan Population and Rising Focus on Organic/Natural Ingredients to Boost Floral Extract Sales

The USA is considered a lucrative market for floral extract and is expected to register a significant CAGR of 3.2%. The increased demand for floral extracts in the USA is highly influenced by the growing vegan population and rising focus of organic and natural ingredients products which transformed almost every aspect of the beauty industry.

Further, with a strong desire for cosmetics to be cruelty-free, many brands are focusing on bringing vegan perfumes and personal care products devoid of animal-based ingredients into the markets, thereby potentially raising the demand for plant-based products such as floral extract.

How is the Floral Extract Market Faring in India?

Expansion of Beauty & Fragrance Industry to Experience Augmented Demand for Floral Extracts

The Indian market is expected to rise at an impressive growth rate. The market is driven by the ever-expanding beauty and fragrance industry in the Indian market, on account of unprecedented urbanization, increased incomes, a rise in the number of working women, and the growing importance of men's grooming products, which will signify ample growth opportunities for the stakeholders.

Why is the Demand for Floral Extracts Increasing in Germany?

Key Brands Shifting Focus Toward Natural/Organic Ingredients to Boost Product Sales

Europe is expected to remain one of the key markets. Accounting for a majority of the market share. Germany held the largest market share in 2023 in Europe. Germany offers greater opportunities for floral extract manufacturers, due to the emergence of a large number of beauty brands focusing entirely on natural and organic ingredients.

Further, as the cosmetics and personal care industry is taking to a whole new level through ‘personalized’ products, floral extract manufacturers are likely to witness a period of sustained demand.

Category-wise Insights

Why is the Demand for Essential Oil Greater than Other Segments?

Health and Wellness Conscious Consumer to Opt for Essential Oils

In terms of extract type, the essential oil category dominated the market with the highest revenue share of 48.7% in 2023. Essential oils have been increasingly gaining prominence in both developed and developing countries, and the result is likely to lead to increased demand for floral extracts.

In an attempt to maintain a healthy lifestyle, today’s consumers are turning to products and practices that not only enhance their physical appearance but also help improve health and wellness. On the back of these factors, the essential oil category is anticipated to dominate the target market throughout the forecast period.

Why is the Demand for Natural Cosmetics Rising?

Beneficial Natural Floral Extract Gaining Prominence in the Current Market Scenario

Based on the nature segment, the natural category dominated the global market with the highest revenue share of 61.1% in 2023. The natural ingredient market is growing due to its beneficial properties such as anti-wrinkle agents, lightening/whitening agents, healing agents etc.

Healthy living is considered the current trend in the natural cosmetics market that drives the demand for ingredients coming from the floral extract market, which is further propelling the category forward in the global market.

Which Source of Floral Extraction is Key to Sales?

Anti-Inflammatory & Anti-Oxidant Properties of Rose Highly Preferred by Consumers

In the global floral extract market, the demand for roses is increasing in the skincare industry due to its benefits in its anti-inflammatory and antioxidant properties. Rose is high in vitamins and minerals, and its oil is excellent for treating dry skin. It also has astringent properties, making it a powerful anti-acne, anti-redness, and anti-inflammatory agent.

These are a few of the factors that have facilitated growth in the adoption of rose-based floral extract in the market.

Which Method of Extraction Holds a Major Revenue Share?

High Efficiency & Compatibility of Distillation Method Providing Towards Market Growth

Based on the method segment, the distillation method category accounted for a significant share of 44.1% of the global market in 2023. The distillation method is the most used technique for the floral extract market across the world.

Steam distillation is widely used for essential oil extraction and is very popular in the floral extract market. However, some flowers are too delicate for the distillation process. In that case, another popular method which is known as solvent extraction is used in the floral extract industry.

Competitive Landscape

Leading players operating in the global market are focusing on expansion, development, and new product launches to expand their business globally.

For Instance

• In 2023, Givaudan, a recognized fragrance and flavour company, entered the natural ingredient providers’ list by acquiring a large ownership in a botanical extraction company with an emphasis on floral extracts. This particular acquisition proved to be strategic for Givaudan as it improved the company’s sustainable sourcing profile, as well as its capacity to provide natural floral extracts to clients.
• In 2022, extract and fragrance firm, Firmenich revealed that it is to release new floral extracts made from responsibly sourced flowers. This product line was meant to effectively address the growing trends of consumers in the fragrance and cosmetics industry who prefer products made from natural and organic products. To back up this initiative, Firmenich spent a lot of effort in the improvement of the extraction techniques to obtain the highest degree of purity and concentration of the floral essences.

Scope of Report

Attribute	Details
Forecast Period	2024 to 2034
Historical Data Available for	2019 to 2023
Market Analysis	USD Million for Value
Key Regions Covered	North America, Latin America, Europe, East Asia, South Asia, Oceania & MEA
Key Countries Covered	United States, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, Russia, Benelux, South Africa, Northern Africa GCC Countries, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia & New Zealand
Key Segments Covered	Extract Type, Nature, Source, Method, Application, Region
Key Companies Profiled	Carrubba Incorporated; Firmenich SA; Givaudan; Hddes Group; Herbarom; International Flavors & Fragrances Inc.; Kalishankar Export; Kancor Ingredients Limited; Katyani Exports; Lebermuth; Mane SA; Nateva Sas; Nesso-Natural & Essential Oils Pvt. Ltd.; Plantex; Robertet; Star Kay White, Inc.; Symrise; Synthite Industries Pvt. Ltd.; Takasago; Uchiya Essential Oils
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

Global Floral Extract Market by Category

By Extract Type, the Global Floral Extract Market is segmented as:

• Concretes
• Absolutes
• Essential Oil

By Nature, the Global Floral Extract Market is segmented as:

• Organic
• Natural

By Source, the Global Floral Extract Market is segmented as:

• Jasmine
• Rose
• Lavender
• Tuberose
• Mimosa
• Marigold
• Lotus
• Ylang Ylang
• Frangipani
• Champaca
• Others

By Method, the Global Floral Extract Market is segmented as:

• Solvent Extraction
• Distillation
• Expression
• Supercritical Fluid Extraction

By Application, the Global Floral Extract Market is segmented as:

• Skincare
• Haircare
• Makeup
• Body Care & Toiletries
• Fragrances

By Region, the Global Floral Extract Market is segmented as:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

Frequently Asked Questions

What is the current floral extract market value?

The global floral extract market reached a valuation of USD 2,818.9 million in 2023.

At what rate did the global floral extract market grow between 2019 and 2023?

The global floral extract market grew at a sluggish 4.2% CAGR between 2019 and 2023.

Who are the leading players in the global floral extract market?

Leading players operating in the global floral extract market are Carrubba Incorporated, Firmenich SA, Givaudan, Hddes Group, Herbarom, and International Flavors & Fragrances Inc., among others.

What will be the demand outlook for the North American floral extract market?

The North American floral extract market is projected to grow at a 3.7% CAGR over the forecast period.

What is the market share of the leading players operating in the floral extract market?

Leading players in the global floral extract market are estimated to account for approximately ~10%-15% of the total market share.

What is the floral extract demand outlook for Europe?

The European floral extract market is anticipated to expand at 3.5% CAGR over the forecast period.