Rosemary Extracts Market size is valued at $ 215Mn by 2019, and is anticipated to grow at a CAGR of 3.7% during the forecast period 2020-2025. The Rosemary Extracts Market growth rate is attributed to the fact that it represents a potential alternative to synthetic food preservatives and satisfies consumer demand for clean label products. Also, owing to the shifting trend of consumers towards natural products, several manufacturers are launching rosemary extract blends for the preservation of meat, poultry and dairy products. Rosemary extract is derived from leaves of Rosmarinus officinalis, a perennial herb. It has three main constituents, rosmarinic acid, ursolic acid, and carnosic acid. Rosemary extract is not only a potential food preservative but also has several therapeutic and health benefits. Rosemary extract is good for your heart, your lungs, your gastrointestinal tract and your liver. Rosemary extract serves as an astringent, tonic and cardiac stimulant. Also, helps to control anemia and blood pressure. Rosemary extract is used as it possesses astringency in skin care and cosmetics. It helps keep the skin elastic and lustre while reducing skin brittleness. Also, rosemary extract pacifies anxiety, nervous tension and other depressive symptoms. From people are shifting to a healthier life, which is impelling manufacturers to produce more rosemary extract on a global-level to increased awareness of the side-effects caused by the use of artificial additives in foods has led customers to choose organic products is anticipated to propel the Rosemary Extracts Market during the forecast period 2020-2025.
By Applications - Segment Analysis
On the basis of applications, food additives segment held the major share of the market in terms of revenue and is anticipated to grow with a CAGR of 3.5%. The reason is attributed to the fact that the growing popularity regarding natural preservative over artificial additive among food and beverage industry. Rosemary extracts are natural additives which help to improve food products' shelf life without changing the flavor, fragrance and nutritional value of food products. In addition, manufacturers nowadays are looking for natural additives to extend the shelf life of their products, which in turn increases the growth of natural preservatives; these continuous advancements in this field are anticipated to augment the food additives segment.
Besides that, rosemary extracts have extensive use in personal care, pharmaceuticals and many other industries. Moreover, growing customer consciousness about the harmful effects of chemical additives is another aspect that drives the industry demand for rosemary extracts in the forecast period 2020-2025.
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By Geography - Segment Analysis
North America dominated the Rosemary Extracts Market with a share of 34% in 2019. The application of Rosemary Extracts has grown rapidly over the last few years owing the demand for herbal extract is trend in the nutraceutical market of North America regions. Due to their potential nutritional, safety and therapeutic effects, rosemary extracts are in great demand in North America. Demand for herbal foods is continuing to grow due to increased interest in various fields of study such as Ayurveda, food industry and pharmaceutics. These factors, as well as the growing innovations in various Rosemary Extracts techniques, are anticipated to propel the Rosemary Extracts Market during the forecast period 2020-2025.
Moreover, the growing trend of aromatherapy in Western Europe is creating a positive impact on rosemary extract market as maximum aroma therapists use rosemary oil in their treatments. While in Eastern Europe particularly in Russia, consumers are more inclined towards the use of environmentally sustainable food ingredients like herbs and spice extracts which mostly grow in Russia and Poland. Russian government is also providing subsidies to farmers to promote and strengthen the local herb and spice market.
Drivers – Rosemary Extracts Market
Increasing demand for organic-based products
There is an increasing awareness of the side-effects caused by the use of chemical ingredients in foods, which has led consumers to prefer organic products. Since rosemary extract acts as a preservative, the manufacturing and processing of different food products is used. Rosemary extract products are in constant competition with those products containing artificial additives, thereby stimulating the growth of the global market for rosemary extracts. Furthermore, working-class women tend to buy items that can be easily prepared, making it one of the most significant factors that are set to improve the global demand for rosemary extract revenues. The same women's baking product needs are also fulfilled with the proper production and supply of rosemary extract, providing a lucrative support to the Rosemary Extracts market globally.
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Challenges – Rosemary Extracts Market
Availability of cheaper artificial additive
The major challenge for the market is the availability of cheaper artificial additives could impede the growth of the demand for rosemary extracts over the entire forecast period 2020-2025. In addition, fluctuations in the prices of raw materials and the finished product are also anticipated to impede this market's revenue growth. Robust rivalry among manufacturers poised to have a negative effect on the global rosemary extract market's revenue growth owing to hampered consumer demand, production, and supply of rosemary extract.
Rosemary Extracts Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Rosemary Extracts Market. In 2019, Rosemary Extracts Market share is fragmented by the top ten players present in the market. Rosemary Extracts Market top 10 companies are Naturalin Bio-Resources Co., Ltd, Changsha E.K HERB Co., Ltd., Kalsec Inc., FLAVEX Naturextrakte, Frutarom Industries Ltd., Hainan Super Biotech Co., Ltd., Kemin Industries, Geneham Pharmaceutical, Danisco A/S and others.
Acquisitions/Product Launches
In July 2018, Kemin Industries, a leading provider of shelf-life extension and food safety solutions that help manufacturers protect their food and beverage products, is adding a new antioxidant to its portfolio of antioxidant solutions. Fortium® RVC, a rosemary and ascorbic acid blend, is a new consumer-friendly ingredient option that can be used as an alternative to traditional tocopherols in bakery and snack applications.
In November 2016, Arjuna Natural Extracts Ltd. Launched X-ten, a natural preservatives range that keeps food fresh and increases shelf life. he formula contains mainly rosemary extract and is to be used to increase the shelf like for bakery items in a natural way.
Key Takeaways
North America dominated the Rosemary Extracts Market with a share of 34% in the year 2019.
The factors such as shifting trend of consumers towards natural products where consumers are more inclined towards the use of environmentally sustainable food ingredients like herbs and spice extracts are amongst the major factor projected to impel growth of Rosemary Extracts Market.
Continuous development and innovation to use rosemary extracts in different industrial application and increased adoption among various industries, such as food & beverages, pharmaceuticals, household, and cosmetics, and preference for natural and organic food preservatives over artificial counterparts are the key factors owing to the growth in the segment during forecast period 2020-2025.
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