About this market
The growing adoption of aromatherapy for stress relief to drive growth in the market. Different factors such as work pressure, finances, relationships, and traffic may lead to unmanaged stress that can result in weight gain, increased sugar levels, body pain, and early aging. Aromatherapy is increasingly used to combat stress levels due to its therapeutic effects on stress hormones. The analysts have predicted that the botanical extracts market will register a CAGR of more than 8% by 2023.
Market Overview
Growing awareness of the benefits of natural cosmetics
The natural cosmetics are made from ingredients directly extracted from plants. Sources of natural ingredients can include herbs, fruits, flowers, leaves, minerals, and water.
High price of products
The botanical extracts market is characterized by the presences of a significant number of small players. High price of the products affects the consumption pattern in cost sensitive developing economies, with lower disposable incomes.
For the detailed list of factors that will drive and challenge the growth of the botanical extracts market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including BASF and Carbery Group the competitive environment is quite intense. Factors such as the rising awareness of the benefits of natural cosmetics and the growing adoption of aromatherapy for stress relief, will provide considerable growth opportunities to botanical extracts manufactures. BASF, Carbery Group, DowDuPont, International Flavors & Fragrances, and Kerry are some of the major companies covered in this report.