According to newly released data, the global floral extract market is estimated to reach USD 2,966.9 million in 2024 and is projected to grow to USD 4,832.8 million by 2034, demonstrating a compound annual growth rate (CAGR) of 5.0% over the next decade. The market currently represents approximately 5%-7% of the broader personal care ingredients market.
The floral extract market has been expanding steadily as consumers increasingly favor products made from natural and organic ingredients in cosmetics and personal care items. This growth is largely driven by a surge in clean beauty products and innovative extraction techniques, alongside rising adoption in the pharmaceutical and food & beverage industries.
Driving Factors:
- Rise of Socially-Conscious Consumers: As consumer purchasing criteria shift towards natural and organic products, there’s increasing pressure on manufacturers to adapt their offerings in alignment with sustainability initiatives.
- Health and Environmental Concerns: The demand for eco-friendly and health-conscious cosmetic products is on the rise. Floral extracts, particularly essential oils, are gaining traction due to their natural properties that appeal to today’s consumers.
- Innovation and Urbanization: The introduction of advanced extraction methods combined with urbanization and rising disposable incomes, particularly in developing regions, is set to fuel market growth.
Regional Highlights:
- United States: Expected to register a significant CAGR of 3.2%, driven by the increasing vegan population and a strong preference for organic and cruelty-free products.
- India: Anticipated to experience impressive growth due to a booming beauty and fragrance industry, fueled by urbanization and rising incomes.
- Germany: Remains a key European market, with a substantial share attributed to beauty brands focusing on natural and organic ingredients.
Competitive Landscape
Leading players in the global market are concentrating on expansion, development, and the launch of new products to grow their businesses internationally.
For Instance
- In 2023, Givaudan, a recognized fragrance and flavour company, entered the natural ingredient providers’ list by acquiring a large ownership in a botanical extraction company with an emphasis on floral extracts. This particular acquisition proved to be strategic for Givaudan as it improved the company’s sustainable sourcing profile, as well as its capacity to provide natural floral extracts to clients.
- In 2022, extract and fragrance firm, Firmenich revealed that it is to release new floral extracts made from responsibly sourced flowers. This product line was meant to effectively address the growing trends of consumers in the fragrance and cosmetics industry who prefer products made from natural and organic products. To back up this initiative, Firmenich spent a lot of effort in the improvement of the extraction techniques to obtain the highest degree of purity and concentration of the floral essences.
Key Companies Profiled
Carrubba Incorporated; Firmenich SA; Givaudan; Hddes Group; Herbarom; International Flavors & Fragrances Inc.; Kalishankar Export; Kancor Ingredients Limited; Katyani Exports; Lebermuth; Mane SA; Nateva Sas; Nesso-Natural & Essential Oils Pvt. Ltd.; Plantex; Robertet; Star Kay White, Inc.; Symrise; Synthite Industries Pvt. Ltd.; Takasago; Uchiya Essential Oils
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Global Floral Extract Market by Category
By Extract Type, the Global Floral Extract Market is segmented as:
- Concretes
- Absolutes
- Essential Oil
By Nature, the Global Floral Extract Market is segmented as:
- Organic
- Natural
By Source, the Global Floral Extract Market is segmented as:
- Jasmine
- Rose
- Lavender
- Tuberose
- Mimosa
- Marigold
- Lotus
- Ylang Ylang
- Frangipani
- Champaca
- Others
By Method, the Global Floral Extract Market is segmented as:
- Solvent Extraction
- Distillation
- Expression
- Supercritical Fluid Extraction
By Application, the Global Floral Extract Market is segmented as:
- Skincare
- Haircare
- Makeup
- Body Care & Toiletries
- Fragrances
By Region, the Global Floral Extract Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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