Flower extract is the collection of essential crude mixtures from extraction of different parts of flowers, which is extracted by using solvent such as ethanol or water. Flower extracts are the substances containing desirable properties extracted from herbaceous flowers which is finding increasing and extensive uses in various industries such as pharmaceuticals for therapeutic properties and herbal medicines, cosmetics for functional properties in skincare related products, along with food and beverages products. Flower extracts containing phytochemical compounds such as carotenoids and flavonoids are primarily used in tea, bakery products, cosmetics, decoction, oils and others, that is fuelling the demand for global flower extract market in near future. Flower extracts can be used in the form of liquid and powder form. Cosmetics industries are using flower extracts in their products due to the rising consumer demand for flower extract skincare products. Shifting consumer preference for natural flower extract based products is a major driving factor for the growth of flower extract market.
Global Flower Extract: Market Segmentation
The global flower extract market is segmented on the basis of nature of offering, form, application and region type. The flower extract market is segmented on the basis of type mainly into oils which includes hibiscus, safflower, rose, passion, and others and also into decoctions which is mostly used in medicinal preparation. The global flower extract market is also segmented on the basis of form primarily into powder, liquid and others. Among these, oils segment is expected to fuel the flower extract market over the forecast period.
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The flower extract market is segmented on the basis of applications in which flower extracts are used in pharmaceuticals, cosmetics, chemicals, food and beverages industry, dyes and others. Among these industries, the cosmetics industry is expected to increase significantly followed by pharmaceuticals industry. Hence, the global flower extract market is expected to significantly increase the revenue contribution over the forecast period.
Global Flower Extract Market: Regional Outlook
Geographically, the global flower extract industry can be divided by major regions which include North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Globally, among all regions, Asia Pacific has developed as the most dominant region followed by North America in global flower extract market. Increasing usage of oils in skincare products extracted from flowers coupled with rise of flower extracts in processed food has strengthened the growth of global flower extract market and hence is projected to significantly expand the revenue contribution of the market over the forecast period.
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Global Flower Extract Market: Growth Drivers
The global flower extract market driving factors are increasing demand for natural ingredients of flower extracts in processed foods is important driving factor. Along with this, flower extracts possess multi-functional properties such as medicinal and colorant property. The other factors driving the market are demand for organic food, rapidly growing cosmetic industry are fueling the global flower extracts market during the forecast period. Increasing acceptance of flower extract based products as a result of rising awareness and health concerns among consumers are the major driving factors of the global flower extracts market.
Global Flower Extract Market: Players
Some of the key players identified across the value chain of the global Flower extract market includes
NESSO-Natural & Essential Oils Pvt. Ltd., Wild Hibiscus Flower Co, Katyani Exports, Naturalin Bio-Resources Co., Ltd, New Way Herbs, Shaanxi Pioneer Biotech Co.,Ltd., Hangzhou Gosun Biotech Co., Ltd and others.
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The companies are expected to expand their business by enhancing their product portfolio in global Flower extract market. The companies are projected to frame certain strategies in future in order to gain the competitive advantage in global Flower extract market till 2024.