Liquid Botanical Extracts Market (2022-2029)

The rising demand for liquid botanical extracts in cosmetic applications, growing demand for ready-to-use botanical extracts, increasing health and wellness trends with consumption of natural health products, and increasing awareness regarding the benefits of herbal products over synthetic products are the key factors driving the growth of the liquid botanical extracts market. However, the availability of substitute products is expected to hinder the growth of this market to some extent.

In 2020, the World Health Organization (WHO) declared the coronavirus disease as a worldwide epidemic. This disease had a variable impact in several countries depending on their cultural norms, mitigation efforts, and health infrastructure. Each country is working its way out to fight against the pandemic. However, several research studies are finding out the usefulness of medicinal plant extracts against coronavirus.

Researchers are working on various medicinal plant extracts to fight COVID-19 throughout the globe. For instance, in February 2020, the Department of Thai Traditional Medicine and Government Pharmaceutical Organization of Thailand signed a memorandum of understanding (MoU) on research into the medicinal plant Andrographis paniculate to develop a drug that can inhibit or defeat the Covid-19 virus.

Moreover, in India, in April 2020, the Jawaharlal Nehru Tropical Botanical Garden and Research Institute (JNTBGRI) received approval from the Indian Council of Medical Research (ICMR) to test whether extraction from plants could be effective in the treatment of this virus. Thus, all ongoing research on medicinal plant extracts as a remedy to COVID-19 is contributing to the market growth of medicinal plant liquid extracts.

Furthermore, liquid extracts from medicinal plants are highly used for treating diseases as they are used in medicines and personal care products, as well as others. Amid the constant fear and panic of the COVID-19 pandemic, consumers are highly concerned about keeping a check on their health which is expected to increase the sales of dietary supplements across the globe. Moreover, consumer shift to plant-derived supplements is influencing the growth of liquid botanical extracts in the pharmaceuticals/healthcare and nutraceuticals products.

However, the worldwide lockdown has also affected the farming practices, which has highly impacted the supply of raw materials of medicinal plant liquid extracts. Moreover, COVID-19 impact on logistics also contributes to the increased prices of raw materials, which ultimately increases the production cost for medicinal plant liquid extracts manufacturers. Thus, the increased raw material prices followed by high demand for herb/medicinal plant liquid extracts would increase the price of plant liquid extracts, especially medicinal plant extract, for the next few years.

Usually, powdered botanical extracts dissolve appropriately, while liquid botanical extracts are ready-to-use. Thus, they provide convenience and ease of use for cosmetics and pharmaceutical formulators. Moreover, the inclusion of single or multiple liquid botanical extracts in a formulation makes it possible to produce a unique and innovative end-product that is further easy to market and drive sales.

Comparatively, natural liquid botanical extracts provide a superior alternative to synthetic ingredients to infuse pleasant, rich, and earthy colors into a product. Liquid botanical extracts contain specific bioactive compounds that offer unique skin-enhancing benefits for streamlined cosmetics. For instance, extracts with reputed antioxidant properties are useful to incorporate in both anti-aging and sun care products.

Moreover, the use of the quality assurance protocol of standardization guarantees the composition of the liquid extract in terms of its active constituents, which further makes it popular among cosmetics and pharmaceuticals formulators. Further, the ready-to-use liquid botanical extracts are cost-effective for commercial cosmetic purposes where the small quantities of botanical extracts are generally sufficient.