Global Herbal Extract Market Size To Exceed USD 66.8 Billion By 2033: Industry Report

Global Herbal Extract Market Size To Exceed USD 66.8 Billion By 2033 

According to a research report published by Spherical Insights & Consulting, The Global Herbal Extract Market Size is Expected to Grow from USD 28.9 Billion in 2023 to USD 66.8 Billion by 2033, at a CAGR of 8.74% during the forecast period 2023-2033.                              

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Herbal Extract Market Size, Share, and COVID-19 Impact Analysis, By Type (Cherry, Aloe, Cranberry, Garlic, Turmeric, and Ginseng), By Application (Personal Care & Cosmetics, Food & Beverages, and Animal Feed), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033. 

The herbal extract market refers to the global industry focused on the production, distribution, and sale of concentrated substances derived from plants, used for their therapeutic properties, flavor, fragrance, or health benefits. These extracts are widely used in pharmaceuticals, cosmetics, food and beverages, and dietary supplements, driven by demand for natural and organic products. Moreover, the herbal extract market refers to the global industry focused on the production, distribution, and sale of concentrated substances derived from plants, used for their therapeutic properties, flavor, fragrance, or health benefits. These extracts are widely used in pharmaceuticals, cosmetics, food and beverages, and dietary supplements, driven by demand for natural and organic products. However, the herbal extract market faces restraints such as inconsistent raw material quality, limited standardization, regulatory challenges, and potential side effects, which can hinder consumer trust and limit large-scale adoption by pharmaceutical companies.

The turmeric segment accounted for the largest share of the global herbal extract market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on type, the global herbal extract market is divided into cherry, aloe, cranberry, garlic, turmeric, and ginseng. Among these, the turmeric segment accounted for the largest share of the global herbal extract market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.  Its widespread use in traditional medicine, rising demand in dietary supplements, and well-documented anti-inflammatory and antioxidant properties drive its popularity. Additionally, increasing consumer awareness about natural remedies continues to boost turmeric extract demand across various industries globally.   

The packaging segment accounted for a substantial share of the global herbal extract market in 2023 and is anticipated to grow at a rapid pace during the projected period.

On the basis of the application, the global herbal extract market is divided into personal care & cosmetics, food & beverages, and animal feed. Among these, the packaging segment accounted for a substantial share of the global herbal extract market in 2023 and is anticipated to grow rapidly during the projected period. This is driven by rising consumer preference for natural and functional ingredients in daily diets, growing health consciousness, and increased use of herbal extracts in teas, supplements, and fortified foods for their therapeutic and nutritional benefits.  

Asia Pacific is projected to hold the largest share of the global herbal extract market over the projected period.   

Asia Pacific is projected to hold the largest share of the global herbal extract market over the projected period. This is due to the region’s deep-rooted tradition of herbal medicine, abundant raw material availability, and growing demand for natural products in food, beverages, and personal care. Countries like China and India are key contributors, supported by expanding herbal supplement industries.  

North America is expected to grow at the fastest CAGR of the global herbal extract market during the projected period. This is driven by increasing consumer preference for clean-label and plant-based products. Rising health awareness, growing use of nutraceuticals and cosmetics, and a strong regulatory framework supporting natural ingredients contribute to the market's growth across the U.S. and Canada.

Company Profiling

Major vendors in the global herbal extract market are Herbal Creations, IDOBIO CO., LTD., MartinBauer, Botanic Healthcare, Pioneer Enterprises (I) Private Limited, VIDYA HERBS Pvt. Ltd, Allicin Pharm, Alpspure Lifesciences Private Limited, Sydler India Pvt. Ltd, Acara Bioherb Pvt. Ltd., HerbalHills, Döhler GMB., and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In May 2023, GNT launched Shade Vivid Orange - OS, the company's first 100% oil-soluble, plant-based colour created by its EXBERRY brand, which is manufactured from non-GMO paprika. This groundbreaking product provides a dynamic and adaptable orange shade that can replace paprika oleoresin and artificial colours in numerous applications, especially in fat-based sweet and savoury foods.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global herbal extract market based on the below-mentioned segments:

Global Herbal Extract Market, By Type

• Cherry
• Aloe
• Cranberry
• Garlic
• Turmeric
• Ginseng

Global Herbal Extract Market, By Application

• Personal Care & Cosmetics
• Food & Beverages
• Animal Feed

Global Herbal Extract Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa