Tuberose Extract Market

Tuberose Extract Market Size, Share, Growth (2023-2028)

Tuberose Extract Market share value in 2022 was 244.6 million, and it is expected to grow at a CAGR of 5.40% during the forecast period 2023-2028 to reach USD 335.35 million by 2028.

Tuberose Extract Market Overview:

Tuberose is also known as Polianthes Tuberosa L. It is an exotic flower. Tuberose has a fragrance that is delicate and sensational. The perfumery of tuberose is canal and creamy. Tuberose extract is mostly made by solvent extraction method. Tuberose extract is included in the formulations of various products due to its potential advantages for skin hydration and renewal. Since tuberose extract has been identified as having antibacterial and anti-inflammatory properties, it can be used for a variety of applications related to health and cosmetics. Tuberose cultivation is labor-intensive and requires capable farmers and careful treatment of the flowers. The complexity of the extraction procedure can also affect the overall supply and cost of tuberose extract. Tuberose extract is also used as an anti-spasmodic. The extract is also used in aroma therapy to treat insomnia and anxiety. The fragrance of the tuberose work on the roots of chakras and helps to treat stress, anxiety, and muscular spasm. It also helps to boost blood circulation, helps to maintain body temperature during winter, and helps with breathing problems.

Tuberose Extract Market Drivers:

The increase in demand for natural and organic ingredients in various industries is one of the major driving factors to the tuberose extract market growth. This is due to the increase in awareness among the customers associated with the hazardous effects of using synthetic products, which increases the demand for natural products such as tuberose extract. The industries such as cosmetics and personal care use organically obtained tuberose extract. The unique fragrance of tuberose increases its demand in the cosmetics and personal care industry. Additionally, the increase in the popularity of the natural skincare and haircare industry increases the demand for tuberose extract. Customers are using products that will cause less or no harm to them after the application of cosmetics, hence increasing the demand for natural and organic products. 

The increase in awareness regarding the health benefits associated with the application of tuberose extract increases the demand for the extract due to the properties of tuberose extract. It is also used in aromatherapy, as the soothing fragrance of the tuberose helps to treat anxiety and stress and decreases blood pressure. Additionally, the increase in the use of sustainable products across various industries increases the demand for tuberose extract. The use of eco-friendly sources and production methods that do not affect the environment is increasing the demand for the tuberose market. 

Tuberose Extract Market Restraints:

The complex steps in the cultivation and maintenance of tuberose are one of the major restraining factors to the growth of the tuberose extract market. This is due to the vigorous steps involved in the cultivation of tuberose. Skilled farmers are required for the cultivation of tuberose, and it is a time-consuming process. The price of tuberose is high, which leads to a decrease in supply chain management. In addition, the extraction process involved in the manufacturing of the tuberose extract is extremely difficult. There is a need for the proper instrument and skilled persons, which leads to increasing the cost of the tuberose extract. Hence, decreases the demand for the tuberose extract market. Additionally, the availability of synthetic fragrances and other natural extracts with cheaper rates decreases the demand for the tuberose extract market. Some customers are allergic to fragrances associated with tuberose because they are sensitive to tuberose extract-based products. This decreases the demand for tuberose extract across the globe. 

Tuberose Extract Market Opportunity:

The increase in development in the extraction process involved in the production of tuberose extract is creating opportunities for the growth of the tuberose extract market over the forecasting period. This is to increase the yield of the extract by using a small amount of raw material such as tuberose, solvents, etc. The previously used extraction for extraction of essential oil and solvent extraction processes often involve organic solvents, require a significant quantity of solvents, and take a very long time to complete. But nowadays, Pressurized liquid extraction, supercritical fluid extraction, and microwave-assisted extraction offer various benefits, including lower organic solvent use, higher selectivity, and shorter extraction times, which have been used to extract natural products. These innovative extraction techniques for the tuberose extraction process save time, money, and labor. Manufacturers of tuberose extract can profit from innovative techniques that increase production and yield. Additionally, the increase in collaboration of manufacturers of tuberose extracts with farmers is decreasing the issues associated with supply chain management. 

Impact of COVID-19 on the Tuberose Extract Market:

The pandemic adversely affected the growth of the tuberose extract market. The cultivation process of the tuberose is vigorous and requires skilled farmers. The lack of labor in the tuberose extraction process decreased the cultivation and production of tuberose extract across the globe. The lack of skilled persons required to handle the extraction method of the tuberose hindered the market growth for the tuberose extract market during COVID-19. The lack of raw materials due to the decrease in the cultivation of tuberose and the travel restriction imposed by the government led to disruption in the supply chain management process. Additionally, the closure of the end-user industries such as cosmetics and personal care, etc., decreased the demand for tuberose extract market. 

Key Developments in Tuberose Extract Market:

• In Feb 2023, Givaudan, the global leader in fragrance & beauty innovation, today announced that it had reached an agreement to acquire certain cosmetic ingredients from Amyris, Inc.

Tuberose Extract Market Segmentation

By Nature

• Organic

• Conventional

Among these, the organic segment dominates the tuberose extract market due to an increase in demand for clean-labeled products. An increase in awareness regarding the use of organic products and their health benefits over the use of conventional products lavish the market growth rate.

By Extraction Method

• Solvent Extraction

• Supercritical Fluid Extraction

Among these, the solvent extraction segment dominates the tuberose extract market, with a growing number of manufacturers using solvent extraction methods for the production of tuberose extract. These tuberose flowers are highly fragrant and contain essential oil; this oil is extracted from the tuberose by solvent method easily. Additionally, as hexane and petroleum ether are strongly non-polar solvents and are frequently used in solvent extraction of oils, they were utilized to extract fragrances from tuberose blossoms. The supercritical fluid extraction is expected to show the fastest CAGR growth in the tuberose extract market over the forecast period.

By End-Users,

• Cosmetic and personal care

• Food and beverage

• Aromatherapy

• Retail/Household

Among these, the cosmetics and personal care industry segment dominates the tuberose extract market owing to an increase in demand for clean-labeled ingredients in the cosmetic industry. The tuberose flowers are highly fragrant and hence used in the production of various cosmeceuticals, including perfume and cologne manufacturers. Additionally, the tuberose extract helps in skin rejuvenation and hydration, increasing the demand for tuberose extract in the cosmetic industry. The food & beverages segment is likely to have the fastest growth rate during the forecast period. 

By Dominant Compound 

• Indole

• Benzyl Salic

• Methyl Benzoate

The indole segment is leading with the dominant shares of the market owing to the growing prevalence of launching innovative, tailored products in favor of consumer preferences. The Methyl benzoate segment is likely to hit the highest CAGR by the end of 2028. 

Tuberose Extract Market Regional Analysis:

• Asia Pacific

• Europe

• Middle East and Africa

• North America

• Latin America

Regionally, the North American region dominates the Tuberose Extract Market with the increasing demand for luxury fragrances and cosmetics. Additionally, the increase in demand for organically obtained tuberose extract in the cosmetics industry increases the region's growth. The growth of the industry is driven by the increase in production and consumption of the tuberous extract in the United States. 

The European region is expected to show significant growth in the tuberose extract market over the forecast period. 

The Asia Pacific region is expected to show the fastest CAGR growth in the tuberose extract market over the forecasting period, with the increase in awareness about the consumption of clean-labeled organic products increasing the demand for the tuberose extract market. Additionally, the increase in disposal income increases the demand for the tuberose extract market in emerging countries like India and China. 

Tuberose Extract Market Key Players

1. Mane KANCOR

2. Firmenich SA

3. Asean Aromatics Pvt Ltd.

4. Green Flora Ltd.

5. Synthite Industries Ltd.

6. Robertet

7. NESSO

8. Katyani Exports

9. HDDES Group

10. R.K's Aroma

11. Bhoomi Naturals

12. BOS Natural Flavors Pvt. Ltd.