Lucintel's latest market report analyzed that botanical provides attractive opportunities in food, beverages, cosmetics, and pharmaceuticals. The botanical market is expected to grow at a CAGR of 8%-9%. In this market, spices are the largest segment by source, whereas food is largest by application.
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Based on source, the botanical market is segmented into spices, herbs, flowers, and tea leaves. The spices segment is accounted for the largest share of the market in 2020 due to changing lifestyles and trend of exploring and experiencing new foods have led to the growth in the demand for spices.
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The botanical market is marked by the presence of several big and small players. Some of the prominent players offering botanical include Frutarom Ltd, Kalsec Inc, Döhler GmbH, Nexira, Haldin Natural, Synthite Industries, MB-Holding GmbH & Co. KG, Synergy Flavors, Blue Sky Botanics, Fytosan, and BI Nutraceuticals.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link helpdesk@lucintel.com.
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