by Cosmetic botanical extracts are plant-derived ingredients widely used in skin and hair care formulations for their therapeutic properties and skin-conditioning benefits. These extracts contain specialized metabolites such as terpenes, flavonoids, alkaloids, and vitamins that offer anti-aging, brightening, soothing and rejuvenating benefits. The global demand for natural and organic personal care products free of synthetic chemicals has increased the need for botanical extracts in cosmetic formulations.
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 9.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for natural ingredients in skincare and hair care products has been a major trend driving the cosmetic botanical extracts market. Consumers are increasingly preferring natural extracts over synthetic alternatives due to rising health concerns. Botanical extracts offer natural moisturization and antioxidant properties and can also serve as anti-aging ingredients. This has prompted personal care brands to emphasize on clean label positioning with botanical ingredients. New product launches with plant-derived extracts such as aloe, green tea, honey and fruit are gaining popularity. Advancements in extraction technologies have also improved production yields and quality of natural extracts to meet the demand from cosmetic manufacturers.
SWOT Analysis
Strength: Cosmetic botanical extracts have various anti-aging and anti-inflammatory properties. They provide natural ingredients for cosmetic formulations.
Weakness: Raw material price fluctuations can impact product costs. Strict regulations and certification processes for new botanical extracts.
Opportunity: Growth of natural and organic personal care industry. Increasing consumer preference for cosmetic products with natural ingredients.
Threats: Entry of new synthetic substitutes. Intense competition among existing players.
Key Takeaways
The Global Cosmetic Botanical Extracts Market Size is expected to witness high growth. Advances in extraction technologies are supporting the development of novel botanical ingredients.
Regional analysis: North America currently dominates the market owing to increased expenditures on personal care. Asia Pacific is expected to grow at the fastest pace during the forecast period due to rising living standards in developing economies like India and China.
Key players operating in the cosmetic botanical extracts market are Sanofi SA, Pfizer Inc., Novavax Inc., Merck & Co. Inc., Johnson & Johnson, GlaxoSmithKline PLC, Daiichi Sankyo Co. Ltd., Emergent BioSolutions Inc., AstraZeneca, and Takeda Pharmaceutical Company Limited, among others. Players are focusing on new product launches and acquisitions to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
