Rosemary extract is a product that is drawn out from the leaves of the plant scientifically known as Rosmarinus officinalis. The extract is mainly composed of 3 ingredients, which are carnosic acid, rosmarinic acid, and ursolic acid.
Rosemary extract is widely used in a number of food product as a natural preservative, anti-oxidizing agent, and food additive, which reduces the rate of spoilage, without having any effect on factors such as nutrition, aroma, or flavor.
In addition, this product also provides consumers with a number of health benefits such as regulating blood pressure and anemia, which improve the functioning of organs such as the lungs, heart, and intestinal tract among others, which also helps in maintaining good skin health. Rosemary extract is also used therapeutically to minimize nervous tension, depression, and anxiety.
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The rosemary extract market is expected to grow rapidly in the years ahead primarily owing to its extensive application in the food and beverage industry as an additive. Other influencers that have the potential to influence developments in the market include:
- Powdered and liquid variants of rosemary extract are expected to witness relatively higher growth rates in the various end use verticals owing to the standardized quality of the product in these forms and the convenience of use in comparison to other counterparts in the market.
- The rising trend of clean label ingredients and the resultant demand for alternatives to synthetic food preservatives and additives are estimated to assist in the growth of the global rosemary extract market. This is supported by the overall preference for natural products and awareness about the adverse health effects from artificial ingredients in food.
- In addition, the rosemary extract market is also expected to benefit from the growing usage of the ingredient in an increasing number of cosmetic and self-care products. As a result, the rise in the use of rosemary extract for therapeutic and health purposes is anticipated to play a key role in the growth of the worldwide market.
With differentiating strategies such as understanding the needs of customers, the global rosemary extract market products are gaining traction among consumers during the projected period, i.e. 2017 to 2027. “Rosemary Extract Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017–2027),” is the newly published report by Future Market Insights which offers insights on the global rosemary extract market. The market is likely to reach to US$ 1,063.2 Mn by 2027 end, expanding at the CAGR of 4.8 % during the assessed period of 10 years.
Following Factors to Contribute to the Growth of the Global Rosemary Extract Market
- Increasing consumer inclination towards aromatherapy and preservatives boost the global rosemary market
- Trending demand of herbal extract in European nutraceutical market contribute in the development in the global rosemary market
- Growing personal care industry and increasing consumer awareness for rosemary
- Growing demand for rosemary for pet food
- Most importantly essential oil made of herb like rosemary and other spice extracts are used in cancer therapy that drives the global rosemary extract market
- Advanced commercialization of herbs and spices by government create positive impact on the global rosemary extract market
Global Rosemary Extract Market- Forecast by Form
Based on form, the segment is divided into powder, liquid and others. The powder form is expected to account for the largest share owing to its longer shelf life. By 2027 end, powder segment is expected to account for 48.6% value share, and to be valued at US$ 516.3 Mn by the end of 2027. On the other hand liquid segment is expected to account for 46.7% market share, and to be valued at US$ 496.9 Mn by 2027 end.
Global Rosemary Extract Market- Forecast by Sales Channel
Based on sales channel, the segment is fragmented into two categories, i.e. direct sales and indirect sales. Direct sales to account for the largest share as the ingredient is used by the manufacturers for further processing such as personal care products, beverages, food and many more. Direct Sales segment is expected to remain dominant in the global rosemary extract market throughout the forecast period with a revenue share of 54.7 % by 2027. By 2027 end, indirect sales is expected to account for 45.3% value share, and to be valued at US$ 481.9 Mn.
Global Rosemary Extract Market- Forecast by Application
Application segment include food and beverages, personal care, nutraceutical, pharmaceutical and others. Pharmaceuticals and personal care are two major segments and the market witnesses an exponential growth for these segments over the forecast period. By 2027 end, personal care segment is expected to account for 25.9% value share, and to be valued at US$ 275.3 Mn.
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Global Rosemary Extract Market- Forecast by Region
North America and APEJ are estimated to emerge as the most lucrative markets over the forecast period 2016-2027. The U.S. has already started the agricultural cultivation of Rosemary in the Southwest region. With easy trade flows and investment opportunities APEJ region represents potential segment for the growth of the market. Mediterranean countries, including Turkey, Spain, and Morocco are rapidly growing, expected to become commercial production hubs for Rosemary extracts in the global market.Europe is the supply base, led by Spain and France in terms of supply and export, and production and consumption respectively.
Global Rosemary Extract Market- Key Companies
The key players operating in the global rosemary extract market are- Givaudan SA, Kerry Group Plc., Takasago International Corporation, Dohler GmbH Sensient Technologies Corporation, Archer Daniels Midland Company, Ajinomoto Co., Inc., Symrise AG, Firmenich S A, Naturex SA, Kalsec Inc., Olam International, Foodchem International Corporation, McCormick and Company, Inc, Frutarom Industries Ltd., Robertet SA, Synthite Industries Ltd., International Taste Solutions Ltd, Organic Herb Inc., British Pepper and spice Company.