The floral nectar market is anticipated to be worth US$ 4,606.5 million in 2024. The market recorded a valuation of US$ 3,332.3 million in 2023. For the forecast period of 2024 to 2034, the CAGR for the market is a solid 4.8%. By the end of the forecast period, the value of the market is expected to have reached US$ 7,350.8 million.
The global floral nectar is a thick viscous sugary liquid harvested from flowers and which is generally used as a raw material to manufacture honey and as an ingredient in cosmetics and personal care products. The floral nectar is commercially traded for its usage as a cosmetic ingredient.
Chemical ingredients have witnessed an immense negative shift and perceived as harmful by consumers, which is what has boosted the growth of the natural active ingredients market in the cosmetic industry, thereby impacting floral nectar market. The floral nectar market is still at a naïve stage and expected to witness steady growth over the forecast period. The research and development sector mainly acts as a catalyzer in boosting the growth of the floral nectar market.
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Reasons for Covering this Title
Product labels are now very important to consumers while buying cosmetics and personal care products and this reflects the demand for the use of natural and organic ingredients in the products. Incidentally, the floral nectar market growth is also driven by new products launches in the cosmetic industry. For instance, in 2015, the company Darphin, which manufacturers cosmetic and personal care products, launched the product- Darphin 8 Flower Nectar Oil Cream.The product contains floral nectar which is infused as a blend of 250 different flower petals.
Manufacturers are focusing on infusing products with innovative natural ingredients which offer sustainable benefits to the end-users.The target demo graph for the floral nectar market is not only concerned about the products but the whole experience the products create after its usage. Increasing consumer demand for green products has led to cosmetic ingredients manufacturers to shift from chemicals to natural ingredients like floral nectar.
Mass merchandisers such as Walmart Stores, Inc. are also introducing personal care products infused with natural bioactive ingredients. This has resulted in a sharp increase in sales of organic personal care products in the recent past and the floral nectar market is expected to witness a concurrent growth over the forecast period.
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Global Floral Nectar Market: Key Players and Potential Buyers
Some of the key players and potential buyers operating in the floral nectar market are Beenature, Croda International, SILAB, and Uncle Harry’s Natural Products, Decleor, Trudi SpA, PAUL & JOE and Darphin amongst others.
Global Floral Nectar Market: Key Takeaways
In April 2018, the company SILAB, which is a manufacturer of cosmetic natural ingredients received third prize of the Innovation Zone- Best Ingredient Award. It developed the product Nectarobiota, the floral nectar microbiota, which is an active ingredient able to act on the skin microbiota.
Opportunities for Floral Nectar Market Participants
Developing products specific for the target demo graph. For instance, younger individuals may be simply more inclined towards a stronger fragrance, while older consumers may prefer milder fragrances and products that offer additional benefits such as bacterial protection etc. Similarly, ingredients used in deodorant products for various age groups differ as the skin of a child is more sensitive and rate of perspiration differs when compared to an adult.
For instance, Trudi SpA develops wet wipes with the use of floral nectar which is especially suited for the infants. Also, the inclusion of more information on the product labels regarding the benefits of floral nectar is also essential to boost the growth of the floral nectar market. Also, supporting the benefits of floral nectar with scientific consents may also enable the floral nectar manufacturers in the gaining more traction in the cosmetic industry.
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Brief Approach to Research
A modelling-based approach and triangulation methodology will be followed to estimate data covered in this report. A detailed market understanding and assessment of the applications, types, forms and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level, consolidated and synthesized at a global level to estimate the overall market sizes.
Global Floral Nectar Market: Segmentation
On the basis of end use, the floral nectar market is segmented as-
- Bath, Shower & Soaps
- Perfumes & Deodorants
- After Sun
- Body Care
- Facial Cleansers
- Hair Care
- Hair Conditioners – Leave on
- Hair Conditioners – Rinse off
- Shampoos
- Scalp Treatments
- Lip Care
- Nail Care & Color
- Shampoos
- Shaving / Hair Removal
- Others
Key Data Points Covered in the Report
Some of the key data points covered in our report include:
- An overview of the floral nectar market, including background and evolution
- Macroeconomic factors affecting the floral nectar market and its potential
- Market dynamics, such as drivers, challenges and trends
- Detailed value chain analysis of the floral nectar market
- Cost structure of the floral nectar products and segments covered in the study
- In-depth pricing analysis, by key product segments, regions and by major floral nectar market participants
- Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario
- Analysis of the floral nectar market structure, including a tier-wise categorization of key market participants
- Competitive landscape of the floral nectar market, including detailed profiles of the top players in this market
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