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Market Research Report
Product code
956174
Botanical Supplements - Global Market Outlook (2019-2027) |
Botanical Supplements - Global Market Outlook (2019-2027) |
Published: August 1, 2020
Stratistics Market Research Consulting
Content info: 166 Pages
Delivery time: 2-3 business days
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According to Stratistics MRC, the Global Botanical Supplements Market is accounted for $45.27 billion in 2019 and is expected to reach $89.54 billion by 2027 growing at a CAGR of 8.9% during the forecast period. Some of the key factors propelling the growth of the market are growing health awareness among consumers, an increase in the incidence of lifestyle diseases and the rise in the general acceptance of herbal formulations. However, the lack of stringent norms and regulations about the safety of products is the restraining factor for the growth of the market.
Botanical supplements are the products obtained from plant parts, plants, and plant extracts. These products are in both complementary and traditional medicine and are available in a variety of forms. Botanical supplements act as a natural alternative for the treatment of hormone replacement therapy. These supplements also provide natural ways for the suitable functioning of brain, heart, and helps in maintaining joint tissue health and connective tissue health.
By end-user, the old-aged segment is expected to grow at a significant market share during the forecast period as the geriatric population is inclined towards using botanical supplements due to little or no side-effects. Based on geography, Europe is anticipated to hold considerable market share during the forecast period which can be attributed to the growing disposable income coupled with the rising awareness amongst the people regarding the benefits of botanical supplements.
Some of the key players in Botanical Supplements Market include ADM, Amway Corporation, The Nature's Bounty Co, Medico Herbs, Nutraceutical International Corporation, Dabur India Limited, Biovontade Sarl, The Himalaya Drug Company, Herbalife International, The Bioforce Group, Naturex SA, Nature's Way Products LLC, Integria Healthcare Pty Ltd, Blackmores Limited, The Patanjali Ayurved Limited, Nutra Green Biotechnology Co Ltd, Ricola AG, Bio-Botanica Inc, Phytomed Herbal Solutions, Jiaherb Inc, Bionorica SE, and Bio Tae Extratos Vegetais Ltd.
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.