GVR Report cover Herbal Extract Market Size, Share & Trends Report

Herbal Extract Market Size, Share & Trends Analysis Report By Type (Cherry, Aloe, Cranberry, Garlic, Turmeric, Ginseng), By Application (Personal Care & Cosmetics, Food & Beverages, Animal Feed), By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: GVR-4-68040-054-4
  • Number of Pages: 100
  • Format: Electronic (PDF)

Herbal Extract Market Size & Trends

The global herbal extract market size was valued at USD 29.8 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 8.2% from 2024 to 2030. The market is expected to advance due to an increased demand for preservative-free, gluten-free, non-artificial flavored, and color-free foods and beverage items. A rising awareness about the therapeutic properties of herbs, along with a shift in demand toward skincare products with herbal ingredients, is expected to further complement the demand for herbal extracts over the forecast period.

U.S.Herbal Extract market size and growth rate, 2024 - 2030

The market is established with major applications in pharmaceutical, food & beverages, cosmetics, and personal care sectors. Asia Pacific and Europe among other regions are dominant markets. However, a lack of raw material availability along with an absence of standardization in manufacturing or production processes are poised to act as regional growth challenges. The market expansion is dependent upon several factors, including raw material availability, the type of production method adopted, cost of production, and technological developments. Commercialization of herbal extract is one of the vital parameters that is projected to influence the overall market growth.

The global personal care & cosmetics sector is home to a variety of bio-based/plant-based products that consumers can buy, on account of a rise in demand for these products, particularly in developed nations such as the U.K. and the U.S. This has resulted in lucrative growth avenues for companies specializing in organic herb cultivation and extraction in emerging economies such as India and China to carry out exports to Europe and North America. Personal care & cosmetics, food & beverages, and nutraceuticals industries prefer natural, eco-friendly, and organic ingredients. This, in turn, fuels the demand, thereby driving the growth of the market for them over the forecast period.

Ongoing urbanization and the prevailing hectic lifestyle of the masses have resulted in a high demand for nutraceuticals that cater to the nutritional requirements of consumers. This increase in demand for nutraceuticals is in turn anticipated to raise the demand for herbal extracts as they provide all nutritional values required. Surging awareness among consumers about the health benefits associated with herbal extracts will help in propelling market demand.

Various government initiatives and regulatory supports are likely to encourage the production of herbal extracts. In India, for example, the Ministry of Finance announced a package of Rs. 4000 crores under Atma Nirbhar Bharat for promoting herbal cultivation. The Ministry has developed a draught scheme for medicinal plant cultivation and marketing.

Market Dynamics

Ongoing urbanization and the prevailing hectic consumer lifestyle have created a strong demand for nutraceuticals that address the nutritional requirements of consumers. This trend is in turn expected to boost demand for herbal extracts as they provide the nutritional values required. Owing to a surging awareness among consumers about the health benefits associated with herbal extracts, the industry is anticipated to rise steadily.

Herbal extracts offer several health benefits over conventional chemical ingredients in food & beverages and pharmaceuticals. This factor, in addition to a significant rise in awareness among consumers about the same, has fueled the usage of herbal extracts, especially in pharmaceuticals and personal care products & cosmetics. For instance, personal care products & cosmetic formulations based on herbal extracts are considered far better than conventional chemically formulated personal care products & cosmetics owing to their antibacterial, anti-inflammatory, and other properties.

Product Insights

Cherry dominated the market with a revenue share of more than 10.9% in 2023. This is aided by its rising usage in skin care products since it helps control skin aging. Additionally, it has extensive applications in the pharmaceutical sector due to its anti-inflammatory properties. Curcumin is a component of spice turmeric, which is a form of ginger. It is insoluble in water; however, it is soluble in ethanol. It has excellent antioxidant and anti-inflammatory properties.

Curcumin is derived from turmeric and has anti-inflammatory & antioxidant characteristics, making it very popular in cosmetics, pharmaceuticals, and food sectors. Curcumin, otherwise known as turmeric, is widely used in cosmetic formulation. Turmeric is a notable element in various Indian Ayurvedic treatments. It is used in the treatment of eczema and acne, as well as in slowing down the aging process and preventing & repairing dry skin.

Recent progress in curcumin's nano and micro-formulations for better absorption in the gastrointestinal tract has created several opportunities for the product in applications such as tissue protection and pain management. Duly certified USDA organic 95% curcumin extracts are preferred by health-conscious consumers, particularly in developed economies.

Meanwhile, fenugreek seed extract demand is being driven by changing consumer dietary trends along with a strong demand for health supplements from athletes. The rising prevalence of diabetes, especially type 2 diabetes, on account of obesity and the hectic lifestyle practices of consumers, coupled with a rise in consumption of nutrient-dense and energy-rich food products, is poised to drive steady demand for fenugreek seeds. Also, a growth in demand for natural ingredient-based medicines is fueling R&D initiatives by various firms and researchers. Rising usage of fenugreek seed extract in Ayurvedic medicinal formulations is anticipated to propel its demand over the forecast period.

Anise seed extract is used in baked goods and as a flavoring in beverages. Owing to increasing awareness regarding health benefits associated with herbs and spices, demand for anise seed-based culinary products is likely to rise over the forecast period. In the Asia Pacific region, anise seeds are consumed after meals to aid digestion. Additionally, demand for anise seed extracts is rising owing to the surging demand for spices and herbs for use in herbal teas, sauces, non-alcoholic beverages, and dressings, as well as bread and confectionery items.

Application Insights

The personal care and cosmetics application segment dominated the market with a revenue share of over 30.8% in 2023 owing to the anti-inflammatory, anti-bacterial, and other properties of herbal extracts. These properties have fueled demand for herbal extracts in the formulation of personal care & cosmetic items.

GlobalHerbal Extract market share and size, 2023

The ongoing development of new products and the increasing usage of natural ingredients such as essential oils in personal care products and cosmetics are expected to fuel the demand for natural herbal extracts used in them. These ingredients are also used for cleaning teeth. They are also incorporated into baby products, soaps, and shampoos. General hygiene is a major application of essential oils in the personal care & cosmetics segment of the market. In addition, essential oils are widely used in perfumes, body sprays, and air fresheners.

Major brands such as JĀSÖN, Melvita, Annemarie Borlind, and Avalon Organics are continuously making efforts to increase consumer awareness by organizing educational and promotional campaigns focused on communicating the benefits of using organic personal care & cosmetics products. Such trends signify the strong growth of the personal care & cosmetics segment of the market in the coming years. This is due to the rising consumer awareness about ensuring their health and beauty, coupled with the surging disposable income of consumers in emerging economies such as India and Mexico, among others, enabling consumers to spend increasingly on innovative products.

Increasing global demand for natural, safe, and minimally processed food products & beverages has emerged as a major factor driving the growth of the food & beverages segment during the forecast period. The antimicrobial properties of herbal extracts help preserve food products and beverages for a long duration. This is expected to contribute to increased usage of herbal extracts in food products and beverages to increase their shelf life without compromising on their quality.

Regional Insights

Asia Pacific dominated the market with a revenue share of more than 44.7% in 2023. Factors such as the wide availability of herbal plants, an age-old tradition of people using natural herbs, the therapeutic effect of herbal products, the adoption of a healthy lifestyle after the COVID-19 pandemic, awareness regarding harmful effects of synthetic ingredients, use of herbal cosmetics products, government policies, and business sustainability programs are expected to influence demand for herbal extracts in the region.

herbal-extract Market Trends, by Region, 2024 - 2030

In Asia Pacific, countries such as India and China are projected to lead the market and have emerged as the largest exporters of some of the most precious extracts in the world such as curcumin, ashwagandha, kale, and others. China and Japan are among the largest markets of nutraceuticals in the entire region. The market has witnessed healthy growth with increased use of pharmaceutical products and nutraceutical supplements in Japan, China, and other countries.

China is the world’s largest consumer market for food & beverage items, making it highly appealing for foreign brands and players in the food & beverages industry. The expanding food & beverage segment is expected to significantly impact the herbal extracts industry in China during the forecast period.

India is considered the largest market for herbal extracts; it is one of the key producers of herbs worldwide and holds a dominant position in the global market. India is a key exporter of herbal extracts to the European and American markets. In addition, products manufactured in this country are highly preferred over those produced in China owing to a high degree of stability under variable light and heat conditions.

Key Companies & Market Share Insights

The market is fragmented with the presence of numerous global and regional players and is very competitive in Asia Pacific countries like India and China. It has a limited number of players in Europe, North America, and the Middle East & Africa. Most of the players are clustered in India and China as these countries offer easy access to raw materials. Companies engage in expansion activities such as mergers & acquisitions and develop their product portfolios to expand their footprint globally.

In May 2023, GNT introduced Shade Vivid Orange - OS, the inaugural 100% oil-soluble, plant-derived color developed by the company's EXBERRY brand, produced from non-GMO paprika. This innovative product offers a versatile and dynamic orange hue, capable of substituting paprika oleoresin and synthetic colors in various applications, particularly in fat-based sweet and savory products.

Key Herbal Extract Companies:

  • Botanic Healthcare
  • VIDYA HERBS Pvt. Ltd
  • Allicin Pharm
  • HerbalHills
  • Acara Bioherb Pvt. Ltd.
  • Pioneer Enterprises (I) Private Limited
  • Sydler India Pvt. Ltd
  • Herbal Creations
  • Alpspure Lifesciences Private Limited
  • Döhler GMB
  • MartinBauer

Herbal Extract Market Report Scope

Report Attribute


Market size value in 2024

USD 32.11 billion

Revenue forecast in 2030

USD 53.43 billion

Growth rate

CAGR of 8.2% from 2024 to 2030

Base year for estimation


Historical data

2018 - 2022

Forecast period

2024 - 2030

Report Updated

November 2023

Quantitative units

Volume in tons, revenue in USD thousand/million/billion, and CAGR from 2024 to 2030

Report coverage

Volume forecast, revenue forecast, company ranking, competitive landscape, growth factors, trends

Segments covered

Type, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; UK; France; Italy; Spain; China; India; Japan; Vietnam; Malaysia; Brazil; Argentina; South Africa; Saudi Arabia

Key companies profiled

Botanic Healthcare; VIDYA HERBS Pvt. Ltd; Allicin Pharm; HerbalHills; Acara bioherb PVt. LTD.; Pioneer Enterprises (I) Private Limited; Sydler India Pvt. Ltd; Herbal Creations; Alpspure Lifesciences Private Limited; IDOBIO CO., LTD.; Döhler GMB; MartinBauer

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

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Global Herbal Extract Market Report Segmentation

This report forecasts volume and revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global herbal extract market report based on type, application, and region:

GlobalHerbal Extract Market Report Segmentation

  • Type Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

    • Turmeric

    • Rosemary

    • Ginseng

    • Aloe

    • Nutmeg

    • Sage

    • Garlic

    • Cranberry

    • Saw Palmetto

    • Cumin

    • Lecithin

    • Valerian

    • Cherry

    • Pygeum Africanum

    • Beet Root

    • Olive Leaf

    • Holy Basil

    • Elder Berry

    • Horehound

    • Lycium

    • Ginger

    • Orange

    • Cinnamon

    • Green Tea

    • Flax

    • Curcumin

    • Fenugreek Seed

    • Capsaicin

    • Anise

    • Ashwagandha

    • Kale

    • Others

  • Application Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

    • Personal Care & Cosmetics

    • Food & Beverages

    • Animal Feed

    • Pharmaceuticals

    • Nutraceuticals

    • Others

  • Regional Outlook (Volume, Tons; Revenue, USD Thousand, 2018 - 2030)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • UK

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • India

      • Japan

      • Malaysia

      • Vietnam

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

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