One of the most sought after natural food preservatives, Rosemary extracts are also used in various end-use industries for their flavouring and aromatic attributes. In addition, Rosemary extracts impart a wide range of health benefits, which prompt at their growing demand in the market, addressing health conscious consumers.
With a variety of industrial applications in pharmaceuticals, food and beverages, and chemical and household sectors, Rosemary extracts are currently witnessing high demand in the global market. FMI predicts this demand to continue in the near future as well, attracting substantial revenues over the forecast period 2016-2026.
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Key Drivers: Global Rosemary Extracts Market
Rosemary is indigenous to Alps but is commercially cultivated in several regions across the globe for various end-use applications. This cultivation is highly supported by the growing demand from consumers who are predominantly choosing natural and organic food preservatives over artificial ingredients.
Moreover, manufacturers are constantly ramping up their R&D efforts, leading to discovery of more benefits and potential applications of Rosemary extracts. This is expected to play a key role in bolstering and directing the demand for Rosemary extracts in the global market.
Rosemary Extracts: Market Trends
- The adoption of Rosemary extracts for various food, pharmaceutical, and skin care products is trending in the market.
- Rising adoption of natural food colourants, and stevia as a healthy sweetener, is strongly supporting the demand for Rosemary extracts globally.
Global Rosemary Extracts Market: Segmentation
FMI’s research on the global Rosemary extracts market offers a 10-year extensive forecast, segmenting the market on the basis of variety, application, and region.
On the basis of variety, the Rosemary extracts market is segmented into three commercial varieties –
- 1,8 cineole
Camphor-borneol has essential antioxidant properties and enjoys dominant market share and is widely used in the manufacture of premium products. Verbenone and 1,8 cineole rosemary extracts are expected to witness strong demand during the forecast period.
Rosemary extracts are further segmented on the basis of its application in food and beverages industry, pharmaceuticals, household sector, cosmetics, and pet food market. Being a natural preservative, Rosemary extracts find wide-ranging applications in the food and beverages industry, especially in non-alcoholic beverages, bakery products, meat products, and culinary spices. The demand for Rosemary extracts is also robust in the pharmaceutical sector, where it is used for manufacturing drugs to treat skin allergies and slow down the progression of Alzheimer’s disease.
Based on the geography, the global Rosemary extracts market is segmented into Europe, North America, and Asia Pacific.
Regional Outlook: Rosemary Extracts Market
Geographically, FMI has thoroughly analysed the Rosemary extracts market. Their production, import, export, and consumption in North America, Europe, China, and Southeast Asia have been remarkably dynamic since the past few years.
Europe is the supply base, led by Spain and France in terms of supply and export, and production and consumption respectively.
However, North America and APAC are estimated to emerge as the most lucrative markets over the forecast period 2016-2026. The U.S. has already started the agricultural cultivation of Rosemary in the Southwest region.
Moreover, Mediterranean countries, including Turkey, Spain, and Morocco are rapidly growing, expected to become commercial production hubs for Rosemary extracts in the global market.
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Key Players in the Rosemary Extracts Market
Key manufacturers in the Rosemary extracts industry include Kemin, Kalsec, Nutrafur, Naurex, Dansico (DuPont),Flavex, Frutarom, Suptek, Hainan Super Biotech Co., Ltd., and Geneham Pharmaceutical Co., Ltd. Kemin’s Rosemary extracts combined with green tea blend is one of the most popularly used to preserve the ideal colouration and flavour of meat, and extend its shelf life.