Cosmetic botanical extracts are derived from plants or herbs and are widely used in the cosmetic industry for their therapeutic, medicinal and skin conditioning properties. Some common botanical extracts used in cosmetics include aloe vera, chamomile, coconut, grape seed, green tea, neem and rosemary extracts. These extracts provide advantages like anti-aging, anti-acne, moisturizing and UV protection when used in cosmetic products. The growing preference for herbal ingredients in cosmetics due to their natural composition and fewer side effects has augmented the need for botanical extracts.
The global Cosmetic Botanical Extracts Market is estimated to be valued at US$ 2.72 Bn in 2024 and is expected to exhibit a CAGR of 9.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Demand for herbal ingredient extracts is the major trend currently shaping the cosmetic botanical extracts market size. Users are shifting towards natural cosmetic products made from plant and herb extracts due to rising health awareness and potential side effects of synthetic ingredients. Botanical extracts possess medicinal properties that helps hydrate, brighten and rejuvenate the skin naturally. Rising adoption of aromatherapy and herbalism has boosted the popularity of botanical ingredients in cosmetics globally. Key players are focusing on sourcing botanical extracts from sustainable cultivators and formulating natural cosmetic ranges containing herbal actives to cater to user demand. Standardization of extraction technologies is further helping manufacturers leverage the skin benefits of botanical extracts on a large scale.
SWOT Analysis
Strength: Cosmetic botanical extracts provide natural ingredients that consumers prefer over synthetic ingredients. These extracts also impart desired properties like anti-aging and skin soothing properties to cosmetics.
Weakness: Availability and pricing of certain plant extracts used in cosmetics depend on environmental conditions which can impact supply. Standardization and quality control of botanical extracts is also a challenge.
Opportunity: Growing demand for natural and organic personal care products among consumers provides opportunities for formulations using more botanical extracts. Innovation in newer plant-derived active ingredients will further drive the market.
Threats: Stringent regulations regarding the use and commercialization of new botanical extracts. Dependence on agricultural production of source plants exposes the market to climate change threats.
Key Takeaways
The global cosmetic botanical extracts market is expected to witness high growth over the forecast period of 2024 to 2031. The market size for 2024 is projected to be US$ 2.72 Billion with a CAGR of 9.4% during the forecast period.
Regional analysis: Europe currently dominates the global market owing to high consumer demand for natural cosmetics in the region. Asia Pacific is expected to be the fastest growing market due to growing expenditures on personal care and rapid adoption of natural/herbal ingredients in cosmetic formulations in countries like China and India.
Key players: 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, Takeda Pharmaceutical Company Limited, among others. These leading players are focusing on new product launches and capacity expansions to strengthen their market position.
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- Source: Coherent Market Insights, Public sources, Desk research
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