In its latest release, Future Market Information (FMI) examines the floral extract market and offers crucial insights for the projected period of 2019–2029. According to the report, floral extract sales would expand globally by 4.5 percent every year in 2019 to reach US$ 2.3 billion, mostly due to a shift in consumer preference toward cosmetic and personal care products made with natural ingredients.
According to the report, the floral extract market is predicted to increase significantly over the next ten years due to rising health and wellness awareness, particularly among the millennial generation, which is increasingly turning away from traditional products and moving toward natural ones.
Cosmetics producers are voluntarily stopping the use of hazardous chemicals and declaring the components in their products as “green beauty,” “clean beauty,” or “natural beauty” quickly become industry buzzwords. The market for flower extracts is growing as consumers become more aware of natural cosmetics and as more celebrities take advantage of the negative impacts of traditional skincare and makeup on social media.
Floral Essential Oils Hold Significant Shares, Absolutes to Witness Rising Demand
Manufacturers are concentrating on boosting the production of absolutes to take advantage of the rising demand for high-end fragrances and perfumes, even if floral essential oils continue to have a significant influence on growth plans, accounting for 65 percent of revenue in 2018. In comparison to the two different types of flower extracts, floral concentrates will continue to hold a very small market share, the analysis claims.
Floral extracts have other uses outside of just being a natural component in cosmetic and personal care products. These additional uses include being a medicine and a colorant, which expands its potential for use in the market. The survey predicts a 5% year-over-year increase in sales of natural floral extracts in 2019, while a rapid uptake of organic alternatives is likely to lead to greater market share.
According to FMI’s estimate, the market for flower extracts will continue to rise as a result of greater acceptance of organically sourced goods as well as increased awareness of their benefits for health and skincare.
High Growth Opportunities Abound in East Asia
North America and Europe are anticipated to hold significant market shares in terms of value. However, throughout the projected period of 2019–2029, the East Asian floral extract market is anticipated to have profitable growth. Gains will continue to be fueled by the region’s rapidly expanding cosmetics market, given the rising popularity of personal grooming items and the rising disposable income available for splurging on luxury goods.
The majority of significant market participants in the flower extract industry, according to FMI’s research, are focusing their R&D efforts on extraction methods. While distillation and solvent extraction techniques are frequently used to extract various flowers, producers are focusing on the supercritical fluid extraction technique since it not only uses less energy but also leaves no trace of residual solvent in the extracted materials.
Floral extracts have very high application potential in perfumes, which accounted for over 42% of all fragrance sales in 2018. The overall sales of flower extract will be impacted by the rise of vegan perfumes and the growing demand for cruelty-free cosmetics and fragrances. The potential of floral extracts as a colorant and aroma enhancer in skincare products as well as body care & toiletries is being further explored by manufacturers.
Makers are putting more emphasis on strengthening their partnerships with cosmetic manufacturers as they observe a rise in direct sourcing of flower extracts to circumvent intermediaries in the supply chain. Leading industry participants for flower extracts also intend to launch their cosmetics and personal care product line.
Global Floral Extract Market by Category
- Essential Oil
- Ylang Ylang
- Solvent Extraction
- Expression (Cold Pressed)
- Supercritical Fluid Extraction
- Creams, Lotion
- Facial Cleansers & Toner
- Anti-Ageing & Anti-Pollution Products
- Shampoos & Shower Gel
- Conditioner & Serum
- Hair Rinses
- Hair Color & Dye
- Hair Oil & Tonics
- Facial Products
- Eye Products
- Lip Products
- Nail Products
- Body Care & Toiletries
- Body Wash
- Massage & Bath Oil
- North America
- Latin America
- East Asia
- South Asia