Natural Extracts Market Size & Share, by Product (Essential Oils, Oleoresins, Herbal Extracts, Natural Colors, Dried crops) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 6237
  • Published Date: Jun 21, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Natural Extracts Market size was over USD 8.8 Billion in 2023 and is anticipated to exceed USD 20.2 Billion by the end of 2036, growing at over 9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of natural extracts is assessed at USD 9.1 Billion.

The growth driving factor for the market is the rising adoption of products that do not contain added preservatives and are fully nature–based and the growing disposable income. As per the Bureau of Economic Analysis (BEA), the disposable personal income in the US increased up to USD 40.2 billion in April.


Natural Extracts Market
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Natural Extracts Sector: Growth Drivers and Challenges

Growth Drivers

  • Natural extracts being a healthy choice – Nowadays, life in urban areas is very hectic which incorporates no exercise, no healthy eating habits, and long sitting hours. However, with the emergence of products that contain natural extracts whether it be food, personal care ingredients, or medicine, consumers are preferring these products for enhancing the way of their life.

    The most potent cause for the growth of the market is the adoption of natural products due to the increasing number of diseases such as diabetes caused by chemicals and preservatives. According to the data from the Centers for Disease Control and Prevention, there are 38.4 million diabetes patients in the US.
  • High demand from the end-use industry – Natural extracts offer various benefits for personal care, pharmaceuticals, food & beverages, and animal feed, and that is why the companies are continuously expanding their product line by underlining their focus on natural extracts. This expansion by companies is supporting the market growth. According to a research researcher’s recent analysis, the natural and organic cosmetics products sector is expected to garner a market volume of around USD 15.7 billion by 2025.
  • Increasing consumer awareness – Consumers nowadays are very well aware of the harmful effects synthetic additives cause on the body and as well as on the environment. That’s why the consumer is rapidly involved in the adoption of organic and natural alternatives.

    Therefore, the market is poised to grow in the forecast period due to the growing consumer awareness about the usefulness of natural extracts. According to a survey by the National Institutes of Health (NIH), 71.7% of Korean women buy organic products on a daily basis.

Challenges

  • Sustainability concerns – The clearance of land for meeting the demand of large-scale commercial land to produce natural extracts has been adversely impacting the environment. Additionally, the use of various kind of fertilizers, agrochemicals, pesticide for enhancing the yield due to the limitation of land is creating sustainability concerns.
  • High cost – The high cost associated with the natural extracts could be due to the weather changes that affect the yields, scarcity of natural resources, and consumers seeking synthetic alternatives since they are cheap in comparison to natural extracts. Thus, the market is expected to experience loss due to these factors.

Natural Extracts Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

9%

Base Year Market Size (2023)

USD 8.8 Billion

Forecast Year Market Size (2036)

USD 20.2 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia–Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia–Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Natural Extracts Segmentation

 Product (Essential Oils, Oleoresins, Herbal Extracts, Natural Colors, Dried crops)

Dried crops segment is likely to dominate over 39% natural extracts market share by 2036. The segment growth can be attributed to the flourishing food & beverage sector and the benefits dried crops offer. The dried crop segment incorporates dried turmeric which has various beneficial properties such as anti–inflammatory and antioxidant.

Additionally, turmeric also helps in delaying the genesis of type 2 diabetes. Doctors recommend consuming a pinch of turmeric in warm milk every day to protect your body from flu and infections since turmeric has anti–fungal, antibacterial, and anti–viral properties. India is one of the leading producers of turmeric accounting for a share of 80% of the total worldwide production.

Application (Personal Care & Cosmetics, Food & Beverage, Animal Feed, Pharmaceuticals, Nutraceuticals)

By 2036, food & beverage segment is set to dominate over 44% natural extracts market share. The segment growth can be accredited to the demand for safe and organic food and beverages. As per research nester’s recent analysis, the organic food sector is anticipated to generate a value of more than USD 70 billion by 2025.

Food products that incorporate natural extracts help elevate the shelf life of the product and that’s why consumers are attracted towards natural ingredients–based food products. Additionally, the rise in demand for products that are nutritious and prepared with organic materials is stimulating growth in the market.

Our in–depth analysis of the global market includes the following segments:

          Product Outlook

  • Essential Oils
    • Turmeric Oil
    • Ginger Oil
    • Peppermint Oil
    • Davana Oil
    • Cedarwood
    • Cornmint
    • Eucalyptus
    • Lemon
    • Lime
    • Orange
    • Vetiver
    • Tea Tree
    • Patchouli Oil
  • Oleoresins
  • Paprika
  • Black Pepper
  • Capsicum
  • Turmeric
  • Ginger
  • Garlic
  • Onion
  • Herbal Extracts
  • Capsaicin
  • 95% Curcumin
  • Ashwagandha
  • Kale
  • Natural Colors
  • Paprika
  • Natural Yellow Color
  • Annatto Color
  • Anthocyanin Color
  • Dried Crops
  • Dried Chili Whole
  • Dried Ginger Whole
  • Dried Turmeric Whole

          Application

  • Personal Care & Cosmetics
  • Food & Beverage
  • Animal Feed
  • Pharmaceuticals
  • Nutraceuticals

  


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Natural Extracts Industry - Regional Synopsis

APAC Market Statistics

Asia Pacific natural extracts market is projected to dominate revenue share of over 30% y 2036. The region is growing due to the high consumer demand for healthy products, urbanization, and income growth. The urban population is poised to grow by 1.2 billion people worldwide and over 2.2 billion people live in Asia.

The market is flourishing in India due to increasing consumer awareness and disposable income. The personal care and hygiene industry in India is estimated to garner a market volume of USD 17.34 billion by 2026.

The market is growing in China due to the rising demand for natural extracts from the pharmaceutical and cosmetic industries. As per Euromonitor International’s latest insights, china accounted for USD 88 billion in terms of sales of beauty and personal care in the year 2021.

North American Market Analysis

Natural Extracts Market size for North American region is expected to exceed USD 7 Billion by 2036, owing to the increasing popularity of natural extracts and the presence of top key players in this region.

Finlays is one of the industry–leading suppliers of healthy beverages and aims to grow sustainably by manufacturing and supplying tea, coffee, and natural extracts to beverage brand owners present worldwide for building a healthy world.

The market is growing in the United States due to the flourishing pharmaceutical sector and various pharmaceutical companies are present in the US that manufacture products using natural extracts. Data obtained from research nester’s recent survey shows that the pharmaceutical sector is expected to generate a market volume of USD 636 billion in 2024.

Food & Beverage industry’s significant growth in Canada is responsible for the expansion of the market. Canada has nearly 8,500 food and beverage processing business of which most of them are small businesses.

Research Nester
Natural Extracts
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Companies Dominating the Natural Extracts Landscape

    The natural extracts market is dominated by key market players that are flourishing due to the increased disposable income and high demand for natural products.

    • Symrise
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Mane KANCOR
    • Synthite Industries Ltd
    • Ransom Naturals Ltd
    • India Essential Oils
    • FLAVEX Naturextrakte GmbH
    • Arjuna Natural
    • Fermenich SA
    • Sami Spices
    • Naturex

In the News

  • Symrise introduced SymSol® ProSun, a revolutionary solution for protection against the sun on 13 March 2024. It provides a pleasant feeling on the skin and the ingredients incorporated are non–sticky on skin and last for long hours.
  • Symrise launched its new fragrance technolgies, SuperBloom® and SymAqua® at Detex 2024. Both the new fragrance technologies are easy to use, long–lasting, and natural.

Author Credits:  Parul Atri


  • Report ID: 6237
  • Published Date: Jun 21, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2023, the industry size of natural extracts was over USD 8.8 billion.

The market size for natural extracts is projected to cross USD 20.2 billion by the end of 2036 expanding at a CAGR of 9% during the forecast period i.e., between 2024-2036.

The major players in the market are Symrise, mane KANCOR, Ransom Naturals Ltd, India Essentials Oil, Arjuna Natural, Sami Spices, and others.

In terms of product, the dried crops segment is anticipated to account for the largest market share of 39% during 2024-2036.

The Asia Pacific natural extracts sector is poised to hold the highest share of 30% by 2036.
Natural Extracts Market Report Scope
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