The natural extracts market - Italy

The global market for natural extracts has been experiencing robust growth, with the market estimated at $23.7 billion in 2019 and projected to reach $59.4 billion by 2025, representing a compound annual growth rate (CAGR) of 16.5% between 2019 and 2025. This growth trend is driven by increasing consumer awareness regarding the side effects of synthetic products and a preference for natural alternatives present in pharmaceuticals, dietary supplements, and cosmetics. The demand surged further during the COVID-19 pandemic, with an increased inclination towards supplements that boost the immune system, such as vitamin C and vitamin D. In Italy, this booming market was visible in the uptick of dietary supplement sales. Regulations in Italy ensure the safety and quality of natural products, with stringent standards for agricultural and manufacturing practices, as well as clear labeling requirements. The surge in demand for natural and phytotherapeutic products reflects a broader shift towards well-being and a preventative healthcare mindset among consumers.

Market Trends in the Natural Extracts Sector in Italy

The Italian market for natural extracts is witnessing substantial growth, mirroring global trends that are seeing consumers increasingly turn towards natural alternatives to synthetic products. Predominantly, this push towards naturality is driven by health consciousness and a preference for products perceived as healthier. In particular, the natural cosmetics segment is booming, expected to reach between 35 and 40 million euros with a growth rate of over 20% by 2023, and continuing to expand to nearly 200 million euros by 2028. The demand for products like aloe, centella asiatica, and green tea extracts for their beneficial skin properties is indicative of a broader consumer appetite for natural ingredients. The phytotherapy market, valued at around 20 million euros as of 2020, is set to grow reaching between 30 and 35 million euros by 2027. This is significant when considering the overall expansion of the dietary supplements market in Italy, which has seen an increase of over 250%, suggesting an escalation from less than 100 million to more than 250 million packs sold. The COVID-19 pandemic has also played a role in shaping market demand, with heightened interest in dietary supplements containing natural ingredients like vitamins and plant extracts as preventive measures. Italy noted a remarkable increase in the sales of products aimed at boosting the immune system during this period.

In terms of international trade, Italy's exports of vegetable juices and extracts surged from around 150 million to over 450 million dollars from 2011 to 2022, demonstrating a growth rate of more than 200%. This has resulted in a coverage ratio of 1.65, meaning exports now significantly surpass imports. Regulatory bodies have kept a close eye on this growing market, imposing strict guidelines on food supplements containing botanical extracts and natural cosmetic products. This oversight ensures quality, safety, and informed consumer choice across this increasingly lucrative sector. With an estimated market worth of a few billion euros, specifically around 2.5 billion euros for phytotherapeutic products comprising 10% of Italian pharmaceutical sales, the natural extracts market is evidently thriving. Italy boasts a sizeable number of consumers, estimated at over nine million, who often favor natural products over conventional medicine, especially when managing mild to moderate health issues. Italian distribution channels for these products are diverse, ranging from pharmacies and health food stores to supermarkets and online retailers, as well as organic markets and fairs.

Prominent Players in the Italian Natural Extracts and Phytotherapy Market

The Italian market for natural extracts, phytotherapy, and related natural products has witnessed significant growth, driven by a preference for natural and organic options in cosmetics, dietary supplements, and medicinal products. This upsurge is led by a range of key players, each contributing to different segments of the market. Here's a closer look at some of these influential entities:

• Herbal and Plant Extract Suppliers : Firms involved in the supply of herbal and plant extracts are at the forefront of the natural products market. They cater to the rising demand for ingredients used in manufacturing natural cosmetics, dietary supplements, and phytotherapeutic products. Their role involves sourcing high-quality raw materials and ensuring that their extracts meet safety and quality standards. These companies often work in close collaboration with producers and manufacturers to provide the active botanical components essential for various natural product formulations.
• Natural Cosmetics Producers : The natural cosmetics segment enjoys robust representation in the market, with several companies focused on harnessing the benefits of plant extracts. These firms specialize in creating beauty and personal care products that use natural, sustainable, and organic ingredients, catering to consumers who are increasingly looking for eco-friendly and healthier skincare options. These producers not only prioritize the use of natural extracts but also adhere to stringent European Union regulations to ensure product safety and efficacy.
• Dietary Supplement Manufacturers : Vitamins and minerals remain the top-selling categories within the health supplements market, but there's a significant portion dedicated to botanical supplements. Manufacturers of dietary supplements with plant extracts have tapped into the public's growing interest in natural and holistic healthcare approaches. These entities range from large pharmaceutical companies to specialized brands that focus solely on organic and natural wellness products.
• Phytotherapy Market Innovators : The phytotherapy market has experienced a surge due to increased consumer interest in medicinal plants and herbal remedies. Companies operating in this sector are instrumental in researching, developing, and marketing plant-based medicinal products. These products often target specific health concerns such as sleep disorders, anxiety, digestive health, and immune system support.
• E-Commerce and Retail Giants : With e-commerce and digital platforms booming, multiple online retailers have emerged to sell natural extracts, cosmetics, and health supplements. These platforms provide a one-stop-shop for consumers, offering a plethora of options ranging from everyday vitamins to specialized phytotherapeutic products. Moreover, they often provide educational content to help consumers make informed choices.

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 30/11/2021

Summary and extracts