The floral extract market size is estimated at US$ 2.6 billion in 2022 and is projected to reach US$ 3.8 billion by 2029, at a CAGR of 4.3% from 2014 to 2021.
On its part, the study showed that some of these manufacturers’ confidence in wearable 3D prints is dependent on them entering into partnerships with technology providers to eliminate traditional barriers for creative designs.
Realising the potential scope of consumer demand for 3D printed wearables, makers are already producing them from footwear and also clothing to jewelry and sports accessories. It is stated in the report that 3D printed footwear will remain to dominate as the leading selling category in one-fourth of the market.
3D printing is projected to be the leading technology that will underpin the custom-made fashion and make mass individualization available on a broad scale bringing more efficient use of resources.
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Floral Essential Oils Hold Significant Shares, Absolutes to Witness Rising Demand
While floral essential oils continue to influence the growth strategies, with revenue share of 65% in 2018, manufacturers are focusing on increasing the production of absolutes to capitalize on growing demand for premium fragrances and perfumes. On the one hand, floral concentrates will continue to represent relatively low share as compared to the two types of floral extracts, according to the report.
Apart from serving as a natural ingredient in cosmetic and personal care products, floral extracts possess multi-functional properties such as medicinal and colorant, thereby increasing its application potential in the industry. The study forecasts that the sales of natural floral extracts to increase ~5% y-o-y in 2019, while rapid adoption of organic variants is likely to result in increased market share.
Increased awareness about health & skincare beneficial products along with rising acceptance of organically sourced products will continue to fuel the growth of floral extract market, as suggested by FMI’s analysis.
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High Growth Opportunities Abound in East Asia
Regions such as Europe & North America are expected to hold prominent market shares in terms of value. However, the East Asia market for floral extract is expected to project lucrative growth over the forecast period of 2019-2029. Gains will remain propelled by the rapid growth of the cosmetic industry in the region, in the view of growing inclination towards personal grooming and increased disposable income available for purchasing high-end products.
According to the FMI’s research, a majority of key players in floral extract market are directing their investments in R&D on extraction techniques. While distillation and solvent extraction methods are widely adopted for various flowers, manufacturers are targeted towards supercritical fluid extraction method that not only reduces the energy consumption but also eliminates residual solvent in the resulting extracts.
Significantly high application potential of floral extracts is identified in fragrances, which accounted for ~42% in 2018. The rise of vegan perfumes in line with strong desire for cosmetics and fragrances to be cruelty-free will contribute to the overall sales of floral extract. Manufacturers are further exploring the capabilities of floral extracts as colorant and fragrance enhancer in skincare products as well as body care & toiletries.
Sensing an increase in direct sourcing of floral extracts to avoid intermediates in the supply chain, manufacturers are focusing on deepening their collaboration with cosmetic producers. In addition, leading players in the floral extract market are aiming to introduce their own product line of cosmetics and personal care.
Global Floral Extract Market by Category
By Extracts:
- Concretes
- Absolutes
- Essential Oil
By Nature:
- Organic
- Natural
By Source:
- Jasmine
- Rose
- Lavender
- Tuberose
- Mimosa
- Marigold
- Lotus
- Ylang Ylang
- Frangipani
- Chmapaca
- Others
By Method:
- Solvent Extraction
- Distillation
- Expression (Cold Pressed)
- Supercritical Fluid Extraction
By Application:
- Skincare
- Creams, Lotion
- Facial Cleansers & Toner
- Serum
- Sunscreen
- Facepacks/Masks
- Anti-Ageing & Anti-Pollution Products
- Haircare
- Shampoos & Shower Gel
- Conditioner & Serum
- Hair Rinses
- Hair Color & Dye
- Hair Oil & Tonics
- Makeup
- Facial Products
- Eye Products
- Lip Products
- Nail Products
- Body Care & Toiletries
- Soap
- Body Wash
- Massage & Bath Oil
- Fragrances
- Perfumes
- Deodorants
- Colognes
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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