March 28, 2023

The global lavender extracts market size is set to gain traction owing to the growing popularity of natural plant-based extracts. Fortune Business InsightsTM has presented this information in its report titled “Lavender Extracts Market, 2023-2030”.

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List of Key Players in the Global Market – 

  • Young Living Essential Oils
  • NOW Foods
  • Ovvio Oils
  • Enio Bonchev
  • Alteya Group
  • Alpha Aromatics
  • Mother Herbs Private Limited
  • Sydney Essential Oil Co. Pty Ltd
  • NHR Organic Oils

Segmentation –

On the basis of type, the market is split into liquid and powder. On the basis of applications, the market is divided into cosmetics, food and beverages, and pharmaceuticals. Geographically, the market is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

The market is divided into three segments based on application: food and beverages, cosmetics, and pharmaceuticals. These extracts are widely used as flavoring agents in the food and beverage industries. Furthermore, lavender or lavender extracts are used in pharmaceuticals to treat diabetes, asthma, insomnia, dermatitis, and the common cold. These extracts are also well-known in the cosmetics industry for their use in hair care, perfumes, and other beauty products. The changing lifestyle and growing awareness about natural products are the primary drivers of the lavender-based extract market.

Drivers & Restraints –

Natural Quality and Health Benefits of Lavender to Drive the Market Growth

Lavender derivatives’ use in food and beverage, pharmaceuticals, and cosmetics has grown at a rapid pace over the years. Furthermore, the natural quality and health benefits of lavender extracts are driving factors in the increase in demand. The health benefit properties contribute to the global lavender market’s revenue growth.

Lavender extracts are an excellent source of phytochemicals such as carotenoids and flavonoids, driving market demand. It is also used as a flavoring agent, increasing its popularity in the food industry. It also helps reduce stress and anxiety while calming the sleep cycle. The growing consumer awareness of health and wellness and healthy dietary options has boosted the market value of lavender extract. This factor to eventually boost the lavender extracts market growth.

Regional Insights –

Western Europe to Hold a Significant Share Owing to Rising Health Consciousness

Western Europe is the largest contributor to the global lavender extracts market share. Demand for natural lavender extracts has increased, owing to rising health-consciousness among consumers and increased awareness of natural and organic plant extracts. As a result, the growing consumer preference for natural and organic products raises the demand for botanical extracts.

Competitive Landscape –

Buddha Teas Launched Two CBD Teas and Three Functional Teas

In February 2022, Buddha Teas has two CBD teas and three functional teas available, including CBD Cacao Fusion, CBD Sleepy Buddha Blend, Echinacea Elderberry Blend, Meditation Moment, and Throat Bliss Blend. These new beverages contain chamomile, lavender, licorice, spearmint, and other herbs and spices.

Notable Development –

February 2022: Trycone has added three new skin serum varieties to its product line. Natural and synthetic chemicals such as niacinamide, hyaluronic acid, salicylic acid, lavender oil, mulberry, and turmeric extracts are added to these products.

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