Global Food Botanicals Market: Overview
The demand within the global market for food botanicals has been rising on account of the evolved manufacturing techniques for multiple food products. Plant-based ingredients are extensively used across the food industry as edible plant products can add to the nutritional value of food items. Furthermore, the historic and cultural significance of several plant products has also brought food botanicals under the spotlight of attention. Food botanicals, in essence, are concentrated plant extract that are used to add fragrance, flavour, or colour to the food items. Food botanicals can also be used to increase the shelf life of products or to add key characteristics to the final food product. The medical served by botanicals have played a major role in enhancing the growth prospects of the global food botanicals market. Furthermore, the therapeutic action of certain types of botanicals has also led to an increased production of food botanicals in recent times. Owing to the aforementioned dynamics, the global food botanicals market is expected to attract voluminous investments in the years to come.
The global market for food botanicals may be segmented on the basis of the following parameters: application, source, form, end-user, and region. Amongst these segments, the segmentation based on the application of food botanicals shall help in understanding the key drivers of demand within this market.
A report added by Transparency Market Research (TMR) on the global food botanicals market encapsulates a range of factors that have aided the growth of this market in recent times. The report is fragmented into multiple sections, and some these sections address the regional and competitive dynamics of the global food botanicals market.
Global Food Botanicals Market: Trends and Opportunities
The popularity of food products made out of plant materials has been at the forefront of growth within the global market for food botanicals. Moreover, the demand for herbs and spices has been escalating at a skyrocketing pace, and this factor has also contributed towards the overall growth of the global food botanicals market. The cosmetics industry has reaped commendable revenues over the past decade, and several new personal-care products have come to the fore in recent times. Since food botanicals are used to add fragrance to cosmetic products, the demand within the global market for food botanicals is also projected to increase at a stellar rate. The use of food botanicals in the manufacture of food supplements is another factor that is prognosticated to propel demand within this market.
Global Food Botanicals Market: Market Potential
Plant-based protein is in great demand amongst vegetarians, and this factor is expected to create lucrative opportunities within the global market for food botanicals. The various types of food botanicals available in the market coupled with advancements in the global food industry shall bring in voluminous revenues into the global food botanicals market. On the flip side, certain groups of food botanicals can be toxic for the human body, and this factor has discouraged people from the use of plant-based products.
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Global Food Botanicals Market: Regional Outlook
The focus on herbal treatments for several diseases in India and China has given an impetus to the growth of the global market for food botanicals. Furthermore, the use of botanical products as food supplements in India has also created room for growth within the market for food botanicals in Asia Pacific.
Global Food Botanicals Market: Competitive Landscape
Some of the key players in the global food botanicals market are Himalaya Drug Company, Marfrig Group, Bio-Botanica Inc., Arcadian Organic and Natural Meat, and Kerry Group.