Global Botanical Supplements Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Botanical Supplements Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global botanical supplements market report has been segmented on the basis of source, product, application, and region.
Global Botanical Supplements Market: Overview
Botanical supplements also called herbal dietary supplements or herbals. These are products obtained from plant parts, plants, and plant extracts. Botanical supplements are in both complementary and traditional medicine and are available in different forms such as capsules, gel caps, liquids, tablets, powders, and softgels. Botanical supplements act as a natural alternative for the treatment of hormone replacement therapy. These supplements offer natural ways for the proper functioning of brain, heart, and helps in maintaining joint tissue health and connective tissue health.
Global Botanical Supplements Market: Dynamics
Rising health consciousness and increasing concern towards diet are the major factors expected to drive the growth of the global market over the forecast years. In addition, rising awareness regarding benefits of the botanical supplement, changing eating habits, growing urban population, are some of the other factors expected to increase the demand for various botanical supplements over the forthcoming years. Furthermore, an increasing number of cases of obesity owing to inconsistent diet patterns as well as sedentary lifestyle and resulting in increasing focus on weight management among consumers. This trend is expected to increase the demand for botanical supplements as it is ideally matched for weight management. However, product recalls owing to some type of contamination due to long time storage of botanical supplements is a factor expected to hamper the growth of the target market to a certain extent.
Global Botanical Supplements Market: Trends and Opportunities
Manufacturers are launching a new product with innovative ingredients in order to cater to the growing demand for various botanical supplements. In addition, the companies are rapidly adopting growth strategies in order to expand its geographical presence across the globe. The aforementioned mentioned are some of the major trends witnessed in the target market and is expected to drive the growth of the market to a significant extent.
For instance, in March 2017, MusclePharm Corporation, which is the US-based nutritional supplement company launched a new vegan protein supplement under the ‘MusclePharm Natural Series’
In June 2017, Nature's Bounty Co., formerly known as NBTY, which is a US-based manufacturer of vitamins and nutritional supplements, launched new plant-based protein powder as well as pure protein superfood – available in dark cocoa, mixed berry super fruits flavors, and vanilla bean flavors
Global Botanical Supplements Market: Regional Analysis
In 2019, the markets in Europe is expected to account for the highest revenue in the target market and is expected to dominate in terms of consumption and production. This is owing to, escalating disposable income, rising in awareness amongst the people regarding benefits of botanical supplements, and increasing number of population. The market in the Asia Pacific region is expected to register CAGR at a higher pace over the forecast period. This is due to, higher adoption of westernized food eating habits and shifting consumer preferences for healthier products.
Segmentation by Source:
- Fruits & Vegetables
Segmentation by product:
- Capsules & Tablets
Segmentation by application:
- Personal Care
- Food and Beverages
- and others (include, animal feed, agriculture, etc.)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Procter & Gamble
- NaturaLife Asia Co., Ltd.
- Imperial Ginseng Products Ltd.
- Nutraceutical International Corporation
- Pharmaton Natural Health Products
- International Vitamin Corp.
- The Himalaya Drug Company
- Arizona Natural Resources, Inc.
- Glanbia Nutritionals, Inc.
- Botanicalife International of America, Inc.
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