June 12, 2024
Cosmetic Botanical Extracts Market

The Cosmetic Botanical Extracts Market is Expected to be Flourished by Rising Demand for Natural and Organic Cosmetic Products

Cosmetic botanical extracts are plant-derived ingredients used in cosmetic and personal care products for their beneficial properties. Common botanical extracts include aloe vera, green tea, calendula, witch hazel, and chamomile, which are known for their skin healing, anti-aging, and anti-inflammatory properties. These extracts are added to various cosmetic products such as skin creams, lotions, hair care products, facial cleansers, and sunscreens. The growing demand for natural and organic personal care products is driving major cosmetic manufacturers to launch green product ranges containing botanical extracts.

The global Cosmetic Botanical Extracts Market is estimated to be valued at US$ 2.36 Bn in 2024 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 Dynamics:

The rising awareness about the benefits of botanical extracts among consumers is expected to drive the growth of the cosmetic botanical extracts market. Botanical extracts such as aloe vera, green tea, and chamomile are known to have antioxidant and anti-aging properties. They help hydrate and nourish the skin without any harmful chemicals. Moreover, shifting consumer preferences towards natural and organic personal care products is also fueling the demand for cosmetics containing botanical extracts. According to statistics, the global natural and organic cosmetics market reached a value of US$ 25.1 billion in 2018 and is forecast to grow at a CAGR of 10% during 2019-2025. The rapid expansion of beauty and personal care industry worldwide along with the widespread availability of these extracts through e-commerce platforms will aid the market growth over the forecast period.

Segment Analysis

The global cosmetic botanical extracts market is dominated by skin care extracts sub segment, occupying over 40% of the total market share. Skin care extracts are used in various cosmetic formulations like creams, lotions, serums etc. to provide nourishment and protection to the skin. Common botanical extracts used in skin care products include avocado extract, aloe extract, jojoba extract, rosehip extract etc. These extracts contain various nutrients and antioxidants that hydrate, soothe and repair the skin.

PEST Analysis

Political: The regulations regarding the use of botanical extracts in cosmetics vary across different countries and regions. In Europe and North America, there are stringent norms imposed by regulatory bodies like FDA, EMEA etc. regarding the source and concentration of extracts allowed in formulations.
Economic: With rising disposable incomes and growing middle class population worldwide, the spending on premium skin care and cosmetic products containing high quality botanical extracts is increasing steadily. This is fueling the growth of the cosmetic botanical extracts market globally.
Social: Increased focus on natural and organic personal care products is a major social trend seen globally in recent years. People are more aware and prefer cosmetic products containing botanical extracts over chemical ingredients due to their skin soothing and nourishing properties.
Technological: Advancements in extraction technologies allow manufacturers to retain maximum active components from plants during the extraction process. Supercritical CO2 extraction and ultrasound-assisted extraction methods are commonly used to extract high purity botanical components without use of harsh solvents.

Key Takeaways

The Global Cosmetic Botanical Extracts Market Size was valued at US$ 2.36 Bn in 2024 and is expected to grow at a CAGR of 9.4% during 2023-2030.
Regional analysis

North America represents the largest as well as the fastest growing market for cosmetic botanical extracts owing to high expenditure on premium skin care and cosmetic products in the region. Europe is another major regional market backed by increasing organic and natural personal care trends.

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. Sanofi SA offers a wide range of anti-aging and skin rejuvenating serums containing high purity plant extracts.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it