세계의 식물 추출물 시장 규모 : 용도별, 경쟁 구도별, 지역별 범위 및 예측

Botanical Extracts Market Size And Forecast

Botanical Extracts Market size was valued at USD 6.37 Billion in 2024 and is projected to reach USD 10.56 Billion by 2032, growing at a CAGR of 7.20% from 2026 to 2032.

The botanical extracts market is a global industry focused on the production, distribution, and sale of concentrated substances derived from natural plant sources. These extracts are obtained from various parts of plants, including herbs, spices, fruits, flowers, roots, and leaves, using different extraction technologies such as CO2 extraction, solvent extraction, and steam distillation.

The primary purpose of these extracts is to provide natural flavor, aroma, color, and functional properties to a wide range of products. The market's growth is largely driven by a significant shift in consumer preferences toward natural, clean-label, and plant-based ingredients, as well as an increasing focus on health and wellness.

Key characteristics and segments of the botanical extracts market include:

Source: The market is segmented by the origin of the extracts, such as herbs (e.g., ginseng, ashwagandha), spices (e.g., turmeric, ginger), fruits, flowers (e.g., chamomile, hibiscus), and tea leaves.

Form: Botanical extracts are available in various forms to suit different applications, including liquid, powder, and semi-solid.

Application: These extracts are vital ingredients across several industries, including:

Food & Beverages: Used for natural flavoring, coloring, and as functional ingredients in products like convenience foods, bakery items, beverages, and dietary supplements.

Pharmaceuticals & Nutraceuticals: Valued for their therapeutic and health-promoting properties, such as antioxidant, anti-inflammatory, and antimicrobial effects. They are key components in herbal medicines and dietary supplements.

Cosmetics & Personal Care: Incorporated into skincare, haircare, and other personal care products, aligning with the growing demand for natural, "clean beauty" formulations.

Market Drivers: The market's expansion is fueled by factors such as rising consumer health awareness, the clean-label trend, a move away from synthetic additives, and ongoing research into the health benefits of botanicals.

Global Botanical Extracts Market Drivers

The botanical extracts market is experiencing a significant surge, becoming a cornerstone in numerous industries from food and beverage to pharmaceuticals and cosmetics. This escalating demand is not coincidental; it's meticulously shaped by a confluence of powerful trends and consumer preferences. Understanding these key drivers is crucial for businesses looking to capitalize on this thriving sector. Here, we delve into the primary forces propelling the botanical extracts market to new heights, offering detailed, SEO-optimized insights into each.

Growing Consumer Inclination Towards Natural & Organic ProductsL The global consumer landscape is undergoing a profound transformation, marked by an increasing inclination towards natural and organic products. Shoppers are becoming more discerning, actively seeking out ingredients derived from nature and shunning artificial additives, synthetic chemicals, and genetically modified organisms (GMOs). This shift is deeply rooted in heightened awareness about potential health risks associated with artificial components and a burgeoning desire for a healthier, more wholesome lifestyle. Botanical extracts, being inherently natural and often organic, perfectly align with this evolving consumer ethos. Their perceived safety, natural origin, and the inherent goodness of plant-based ingredients make them highly attractive across food, beverage, personal care, and wellness sectors. This trend is not merely a fad but a sustained cultural movement, cementing botanical extracts as indispensable components in product formulations designed to resonate with the health-conscious consumer.

Rising Demand from Food & Beverage Industry: The food and beverage industry's rising demand is a monumental driver for the botanical extracts market. As consumers gravitate towards natural flavorings, colorings, and functional ingredients, botanical extracts offer an unparalleled solution. From imparting authentic, nuanced flavors in gourmet foods and beverages to providing vibrant, natural hues that replace artificial dyes, these extracts are revolutionizing product development. Beyond aesthetics and taste, botanical extracts are increasingly integrated for their functional benefits, such as antioxidant properties in fortified drinks or digestive aids in specialty foods. The clean-label movement, where manufacturers strive for simpler ingredient lists free from artificial preservatives and emulsifiers, further amplifies the reliance on botanical solutions. This widespread application across categories like dairy, bakery, confectionery, savory snacks, and functional beverages underscores their versatility and essential role in meeting both consumer expectations for naturalness and industry demands for innovative, market-ready products.

Expanding Applications in Cosmetics & Personal Care: The expanding applications in the cosmetics and personal care sector represent another formidable growth engine for botanical extracts. Consumers are increasingly scrutinizing ingredient labels, prioritizing natural, plant-derived components over synthetic chemicals in their skincare, haircare, and beauty routines. Botanical extracts are lauded for their diverse beneficial properties, including anti-aging, anti-inflammatory, antioxidant, moisturizing, and soothing effects. Ingredients like aloe vera, green tea, chamomile, and various fruit extracts are now commonplace in formulations ranging from serums and creams to shampoos and body lotions. This shift is driven by a desire for products that are perceived as gentler, more effective, and environmentally friendly. The "clean beauty" movement, emphasizing transparency and natural sourcing, has significantly accelerated the adoption of botanical extracts, positioning them as premium, active ingredients that cater to a sophisticated and health-aware consumer base seeking sustainable and naturally efficacious personal care solutions.

Growth in the Pharmaceutical & Nutraceutical Sectors: The growth in the pharmaceutical and nutraceutical sectors is significantly bolstering the botanical extracts market. With a global pivot towards preventive healthcare and a heightened interest in natural remedies, botanical extracts are gaining prominence as active pharmaceutical ingredients (APIs) and key components in dietary supplements. Their rich profiles of bioactive compounds, including vitamins, minerals, antioxidants, and anti-inflammatory agents, make them invaluable for developing new drugs, enhancing existing formulations, and creating functional health products. Research into traditional medicine systems and ethnomedicine continues to uncover novel therapeutic applications for plant extracts, leading to innovations in areas like immune support, cognitive health, stress reduction, and metabolic balance. The increasing aging population, coupled with a proactive approach to managing chronic diseases through natural means, further fuels demand, positioning botanical extracts as critical ingredients for a healthier future in both conventional medicine and the rapidly expanding nutraceutical space.

Technological Advancements in Extraction Techniques: Technological advancements in extraction techniques are playing a pivotal role in democratizing and optimizing the botanical extracts market. Modern innovations in extraction methods, such as supercritical CO2 extraction, ultrasound-assisted extraction, and microwave-assisted extraction, have revolutionized the efficiency, purity, and yield of botanical compounds. These advanced techniques offer numerous benefits: they enable the isolation of specific bioactive molecules with greater precision, reduce the use of harsh chemical solvents, minimize environmental impact, and enhance the overall quality and stability of the extracts. For instance, CO2 extraction allows for solvent-free processes, yielding highly pure, concentrated extracts ideal for sensitive applications like pharmaceuticals and high-end cosmetics. These technological leaps not only make the production of botanical extracts more sustainable and cost-effective but also open doors to exploring and commercializing a wider array of plant species, ultimately expanding the market's potential and driving innovation across all application sectors.

Increasing Awareness Regarding Health Benefits of Botanical Extracts: The increasing awareness regarding the health benefits of botanical extracts is a fundamental catalyst for market expansion. Consumers globally are becoming more educated about the link between diet, lifestyle, and overall well-being. This heightened awareness is driving a proactive search for ingredients that offer specific health advantages beyond basic nutrition. Botanical extracts, rich in compounds like polyphenols, flavonoids, carotenoids, and various vitamins, are recognized for their antioxidant, anti-inflammatory, immune-boosting, and neuroprotective properties. Social media, health publications, scientific studies, and wellness influencers all contribute to disseminating knowledge about ingredients like turmeric for inflammation, green tea for antioxidants, and ginseng for energy. This informed consumer base actively seeks out products fortified with these beneficial extracts, fueling demand in functional foods, beverages, dietary supplements, and even personal care items, as people increasingly view these products as integral to maintaining a healthy and balanced lifestyle.

Global Botanical Extracts Market Restraints

While the botanical extracts market enjoys robust growth driven by surging consumer demand for natural products, it is not immune to challenges. Several significant restraints temper its expansion, posing hurdles for manufacturers, suppliers, and innovators alike. Understanding these limitations is crucial for strategic planning and mitigating risks within this dynamic sector. This article delves into the primary headwinds impacting the botanical extracts market, offering detailed, SEO-optimized insights into each restraint.

High Cost of Production & Extraction: The high cost of production and extraction stands as a significant impediment to the widespread adoption and affordability of botanical extracts. Obtaining high-quality extracts often involves sophisticated technologies like supercritical CO2 extraction or advanced solvent-based methods, which require substantial capital investment in specialized equipment, highly skilled personnel, and rigorous quality control measures. Furthermore, the sourcing of raw botanical materials can be expensive, particularly for rare or ethically harvested plants, or those requiring specific growing conditions. The intricate nature of the extraction process, aimed at isolating specific bioactive compounds while maintaining purity and potency, adds to operational overheads. These elevated production costs ultimately translate into higher prices for botanical extract ingredients, which can make end products less competitive against synthetic alternatives or place them in a premium market segment, thereby limiting their accessibility and market penetration, especially in price-sensitive regions or product categories.

Regulatory Challenges & Standardization Issues: The botanical extracts market grapples with complex regulatory challenges and standardization issues that can hinder its growth and global harmonization. Unlike pharmaceutical drugs, which follow strict guidelines, botanical extracts often fall into varied regulatory categories across different regions (e.g., food ingredients, dietary supplements, cosmetics, traditional medicines), leading to inconsistent legal frameworks and labeling requirements. This lack of a unified global standard creates difficulties for manufacturers in ensuring compliance, facilitating international trade, and establishing consumer trust. Furthermore, standardizing the chemical composition and potency of botanical extracts is inherently challenging due to natural variations in plant species, growing conditions, harvest times, and extraction methods. Establishing consistent levels of active compounds is crucial for efficacy and safety, yet achieving this across batches remains a persistent hurdle, leading to potential discrepancies in product quality and creating a perception of unreliability compared to precisely dosed synthetic compounds.

Supply Chain Disruptions & Raw Material Availability: The botanical extracts market is particularly vulnerable to supply chain disruptions and raw material availability issues, presenting a considerable restraint on consistent growth. The reliance on natural agricultural products means that the availability of source botanicals is subject to environmental factors such as climate change, adverse weather conditions (droughts, floods), pests, and diseases, which can significantly impact crop yields and quality. Geopolitical instabilities, trade restrictions, and logistics challenges in remote sourcing regions further exacerbate these vulnerabilities. Ethical sourcing concerns, including sustainable harvesting practices and fair trade principles, also play a role, as unsustainable collection can lead to depletion of natural resources and biodiversity loss. When raw material supply is volatile, manufacturers face increased costs, production delays, and difficulties in meeting market demand, leading to potential price fluctuations and uncertainty for end-product formulators, thereby restraining market stability and expansion.

Limited Awareness & Scientific Validation: Despite growing interest, limited awareness and scientific validation of many botanical extracts pose a significant restraint on their broader market adoption. While some well-known botanicals boast extensive research, a vast number of promising plant extracts lack robust, peer-reviewed scientific studies to conclusively prove their efficacy, safety, and mechanisms of action. This absence of strong scientific evidence can lead to skepticism among healthcare professionals, regulatory bodies, and even some consumers who prioritize evidence-based claims. Furthermore, public awareness of the specific health benefits or functional properties of a wide range of botanical extracts remains relatively low compared to more established synthetic ingredients or vitamins. Bridging this knowledge gap requires substantial investment in research and development, clinical trials, and effective educational campaigns. Until more comprehensive scientific validation is achieved and public understanding improves, the market potential of numerous botanical extracts will remain untapped, limiting their full integration across various industries.

Contamination & Adulteration Concerns: Contamination and adulteration concerns represent a critical restraint, threatening consumer trust and market integrity within the botanical extracts sector. Due to complex supply chains and the natural origin of raw materials, botanical extracts are susceptible to various forms of contamination, including pesticides, heavy metals, microbial pathogens, and mycotoxins, which can pose serious health risks. Furthermore, economic adulteration, where cheaper synthetic chemicals or less potent plant materials are fraudulently added or substituted, is a persistent issue. This practice not only diminishes the efficacy of the extract but also undermines its safety profile and tarnishes the reputation of legitimate manufacturers. Detecting adulteration requires sophisticated analytical testing and vigilant quality control throughout the supply chain, adding to production costs and complexity. Incidents of contamination or adulteration can lead to product recalls, regulatory crackdowns, and a significant loss of consumer confidence, thereby inhibiting market growth and reinforcing skepticism about the reliability and safety of botanical extract products.

Global Botanical Extracts Market, Segmentation Analysis

The Global Botanical Extracts Market is segmented on the basis of Application, Source and Geography.

Global Botanical Extracts Market, By Application

Food & Beverages

Pharmaceutical

Cosmetic & Personal Care

Based on Application, the Botanical Extracts Market is segmented into Food & Beverages, Pharmaceutical, and Cosmetic & Personal Care. At VMR, we observe the Food & Beverages segment as the most dominant subsegment, holding a substantial market share, driven by a powerful confluence of industry trends and consumer demand. The clean-label movement, which favors simple and natural ingredient lists, has led major food and beverage manufacturers to replace synthetic flavorings and colorings with botanical alternatives. The shift is particularly evident in the burgeoning functional foods and beverages sector, where extracts like turmeric, ginger, and green tea are added for their antioxidant, anti-inflammatory, and immune-boosting properties. Regionally, the robust growth in Asia-Pacific, fueled by rising disposable incomes and a strong cultural affinity for traditional herbal remedies, and in North America, with its high consumer health awareness and demand for convenience foods with added nutritional value, are key drivers. This segment is indispensable for end-users in the bakery, confectionery, dairy, and alcoholic beverage industries.

The Pharmaceutical segment emerges as the second most dominant subsegment, showcasing remarkable growth potential. This is driven by the increasing global preference for natural therapeutic compounds and a consumer shift away from the side effects of conventional synthetic drugs. The segment's growth is supported by significant R&D investments by pharmaceutical companies seeking to commercialize plant-based drugs and nutraceuticals. In regions like North America and Europe, stringent regulatory frameworks that validate the efficacy and safety of botanical ingredients are boosting market confidence. This is especially true for products targeting chronic diseases, where botanical extracts are being researched for their anti-inflammatory, anti-diabetic, and cardiovascular benefits. The Cosmetic & Personal Care segment also plays a vital, supporting role, experiencing rapid expansion due to the "clean beauty" trend and a consumer base actively seeking natural, plant-derived ingredients for skincare, hair care, and anti-aging products.

Global Botanical Extracts Market, By Source

Organic

Conventional

Based on Source, the Botanical Extracts Market is segmented into Organic and Conventional. At VMR, we observe the Conventional subsegment as the dominant force in the market, holding a commanding share of over 74% due to its widespread availability and cost-effectiveness. This dominance is fundamentally driven by the economies of scale offered by conventional farming practices, which allow for a consistent and large-volume supply of raw materials at competitive prices. The primary end-users in the food & beverage industry, particularly those in the mass-market convenience food and beverage sectors, heavily rely on conventional extracts for their flavorings, colorings, and functional ingredients, where cost efficiency is a critical factor. The growth of this segment is particularly robust in emerging markets across Asia-Pacific and Latin America, where a burgeoning middle class and rapid urbanization are driving demand for affordable packaged goods. Despite growing concerns about synthetic additives and a shift towards cleaner labels, the sheer volume and established supply chains of conventional extracts ensure their continued market leadership.

The Organic subsegment, while currently smaller, is the second most dominant and represents a high-growth category. Its growth is propelled by a global consumer trend favoring health, wellness, and environmental sustainability. Consumers in developed regions like North America and Europe are increasingly willing to pay a premium for products with certified organic ingredients, perceiving them as safer, more transparent, and free from pesticides and chemical fertilizers. The clean-label movement, coupled with stringent organic certification regulations in these regions, acts as a significant market driver. Key industries such as premium cosmetics, dietary supplements, and specialty food manufacturers are the primary adopters of organic botanical extracts, leveraging their marketing potential and meeting the demands of a niche but rapidly expanding consumer base. The future of the botanical extracts market is likely to see the Organic subsegment gain market share at a higher CAGR as consumer awareness and demand for ethical and sustainable products continue to grow.

Global Botanical Extracts Market, By Geography

North America

Europe

Asia Pacific

Rest of the world

The global botanical extracts market is a dynamic and geographically diverse industry, with each major region exhibiting unique market drivers, consumer behaviors, and regulatory landscapes. The market's growth is fundamentally tied to the universal trend of consumers seeking natural, clean-label, and health-focused products. However, the specific nuances of demand, application, and sourcing vary significantly from one region to another, creating distinct opportunities and challenges for market players worldwide.

North America Botanical Extracts Market

North America, particularly the United States, holds a dominant position in the botanical extracts market. The region's market is primarily fueled by a high level of consumer health awareness and a strong preference for dietary supplements and functional foods. The "clean-label" trend is a major driver, with consumers actively scrutinizing product labels and opting for products with simple, recognizable, and naturally sourced ingredients. This has led to a surge in the use of botanical extracts in the food and beverage industry for natural flavoring, coloring, and as functional additives. The cosmetics and personal care sector also contributes significantly, as consumers seek plant-based, organic, and "clean beauty" formulations. The region benefits from a well-established and sophisticated regulatory framework that, while stringent, helps build consumer confidence in product safety and quality.

Europe Botanical Extracts Market

Europe is a mature and significant market for botanical extracts, driven by a strong focus on wellness, sustainability, and stringent regulations. The region's market is characterized by a high demand for organic and ethically sourced ingredients. The food and beverage sector is a key driver, with the popularity of ready-to-drink beverages and functional foods containing plant-based ingredients propelling market growth. The pharmaceutical and nutraceutical sectors are also experiencing robust growth, as European consumers and healthcare systems show a growing interest in herbal medicines and supplements. European countries, particularly Germany, the UK, and France, are at the forefront of the "clean label" and sustainable sourcing movements, with consumers willing to pay a premium for products that align with these values.

Asia-Pacific Botanical Extracts Market

The Asia-Pacific region is the fastest-growing and most promising market for botanical extracts. This rapid expansion is driven by a massive consumer base, rising disposable incomes, and a deep-rooted cultural heritage of traditional medicine (such as Ayurveda and Traditional Chinese Medicine). Countries like China and India are major players, acting as both key consumers and large-scale producers of raw botanical materials. The market is fueled by the widespread use of botanical extracts in traditional medicines, as well as their growing application in functional foods, beverages, and cosmetics. Rapid urbanization and a growing health-conscious population are leading to an increased demand for Western-style convenience foods and personal care products that incorporate natural, plant-based ingredients.

Rest of the World Botanical Extracts Market

The Rest of the World category, encompassing Latin America, the Middle East, and Africa, represents a high-potential but developing market for botanical extracts. Latin America is a significant source of unique botanical materials, and the region is seeing growing domestic demand for natural products. The Middle East and Africa are emerging markets, with rising disposable incomes and a growing interest in health and wellness driving the adoption of botanical extracts in food and personal care products. However, these regions face challenges such as less developed regulatory frameworks, supply chain inconsistencies, and a higher reliance on imports, which can hinder market growth. Despite these hurdles, the rich biodiversity and increasing consumer awareness in these regions offer substantial long-term opportunities for market expansion.

Key Players

• The Global Botanical Extracts Market study report will provide valuable insight with an emphasis on the global market. The major players in the market are
• Frutarom
• Ransom Natural Ltd, PT
• INDESSO AROMA
• Blue Sky Botanics Ltd.
• Haldin,
• Dohler

TABLE OF CONTENTS

1 INTRODUCTION OF BOTANICAL EXTRACTS MARKET

• 1.1 MARKET DEFINITION
• 1.2 MARKET SEGMENTATION
• 1.3 RESEARCH TIMELINES
• 1.4 ASSUMPTIONS
• 1.5 LIMITATIONS

2 RESEARCH METHODOLOGY

• 2.1 DATA MINING
• 2.2 SECONDARY RESEARCH
• 2.3 PRIMARY RESEARCH
• 2.4 SUBJECT MATTER EXPERT ADVICE
• 2.5 QUALITY CHECK
• 2.6 FINAL REVIEW
• 2.7 DATA TRIANGULATION
• 2.8 BOTTOM-UP APPROACH
• 2.9 TOP-DOWN APPROACH
• 2.10 RESEARCH FLOW
• 2.11 DATA SOURCES

3 EXECUTIVE SUMMARY

• 3.1 GLOBAL BOTANICAL EXTRACTS MARKET OVERVIEW
• 3.2 GLOBAL BOTANICAL EXTRACTS MARKET ESTIMATES AND FORECAST (USD BILLION)
• 3.3 GLOBAL BOTANICAL EXTRACTS MARKET ECOLOGY MAPPING
• 3.4 COMPETITIVE ANALYSIS: FUNNEL DIAGRAM
• 3.5 GLOBAL BOTANICAL EXTRACTS MARKET ABSOLUTE MARKET OPPORTUNITY
• 3.6 GLOBAL BOTANICAL EXTRACTS MARKET ATTRACTIVENESS ANALYSIS, BY REGION
• 3.7 GLOBAL BOTANICAL EXTRACTS MARKET ATTRACTIVENESS ANALYSIS, BY TYPE
• 3.8 GLOBAL BOTANICAL EXTRACTS MARKET ATTRACTIVENESS ANALYSIS, BY END-USER
• 3.9 GLOBAL BOTANICAL EXTRACTS MARKET GEOGRAPHICAL ANALYSIS (CAGR %)
• 3.10 GLOBAL BOTANICAL EXTRACTS MARKET, BY TYPE (USD BILLION)
• 3.11 GLOBAL BOTANICAL EXTRACTS MARKET, BY END-USER (USD BILLION)
• 3.12 GLOBAL BOTANICAL EXTRACTS MARKET, BY GEOGRAPHY (USD BILLION)
• 3.13 FUTURE MARKET OPPORTUNITIES

4 BOTANICAL EXTRACTS MARKET OUTLOOK

• 4.1 GLOBAL BOTANICAL EXTRACTS MARKET EVOLUTION
• 4.2 GLOBAL BOTANICAL EXTRACTS MARKET OUTLOOK
• 4.3 MARKET DRIVERS
• 4.4 MARKET RESTRAINTS
• 4.5 MARKET TRENDS
• 4.6 MARKET OPPORTUNITY
• 4.7 PORTER'S FIVE FORCES ANALYSIS
  • 4.7.1 THREAT OF NEW ENTRANTS
  • 4.7.2 BARGAINING POWER OF SUPPLIERS
  • 4.7.3 BARGAINING POWER OF BUYERS
  • 4.7.4 THREAT OF SUBSTITUTE TYPES
  • 4.7.5 COMPETITIVE RIVALRY OF EXISTING COMPETITORS
• 4.8 VALUE CHAIN ANALYSIS
• 4.9 PRICING ANALYSIS
• 4.10 MACROECONOMIC ANALYSIS

5 BOTANICAL EXTRACTS MARKET, BY APPLICATION

• 5.1 OVERVIEW
• 5.2 FOOD & BEVERAGES
• 5.3 PHARMACEUTICAL
• 5.4 COSMETIC & PERSONAL CARE

6 BOTANICAL EXTRACTS MARKET, BY SOURCE

• 6.1 OVERVIEW
• 6.2 ORGANIC
• 6.3 CONVENTIONAL

7 BOTANICAL EXTRACTS MARKET, BY GEOGRAPHY

• 7.1 OVERVIEW
• 7.2 NORTH AMERICA
  • 7.2.1 U.S.
  • 7.2.2 CANADA
  • 7.2.3 MEXICO
• 7.3 EUROPE
  • 7.3.1 GERMANY
  • 7.3.2 U.K.
  • 7.3.3 FRANCE
  • 7.3.4 ITALY
  • 7.3.5 SPAIN
  • 7.3.6 REST OF EUROPE
• 7.4 ASIA PACIFIC
  • 7.4.1 CHINA
  • 7.4.2 JAPAN
  • 7.4.3 INDIA
  • 7.4.4 REST OF ASIA PACIFIC
• 7.5 LATIN AMERICA
  • 7.5.1 BRAZIL
  • 7.5.2 ARGENTINA
  • 7.5.3 REST OF LATIN AMERICA
• 7.6 MIDDLE EAST AND AFRICA
  • 7.6.1 UAE
  • 7.6.2 SAUDI ARABIA
  • 7.6.3 SOUTH AFRICA
  • 7.6.4 REST OF MIDDLE EAST AND AFRICA

8 BOTANICAL EXTRACTS MARKET COMPETITIVE LANDSCAPE

• 8.1 OVERVIEW
• 8.2 KEY DEVELOPMENT STRATEGIES
• 8.3 COMPANY REGIONAL FOOTPRINT
• 8.4 ACE MATRIX
  • 8.5.1 ACTIVE
  • 8.5.2 CUTTING EDGE
  • 8.5.3 EMERGING
  • 8.5.4 INNOVATORS

9 BOTANICAL EXTRACTS MARKET COMPANY PROFILES

• 9.1 OVERVIEW
• 9.2 FRUTAROM
• 9.3 RANSOM NATURAL LTD, PT
• 9.4 INDESSO AROMA
• 9.5 BLUE SKY BOTANICS LTD.
• 9.6 HALDIN,
• 9.7 DOHLER