Botanical Supplements Market: Current Analysis and Forecast (2022-2028)

The botanical supplements market is expected to register a CAGR of approx. 8% over the period of 2022-2028. Botanical supplements are food or supplements derived from natural sources. They consist of dietary, nutraceutical, and herbal supplements used to maintain good health. Herbal supplements are products derived from plants and/or their oils, roots, seeds, berries, or flowers. For centuries, herbal supplements have been used. They are thought to have medicinal properties. The growing demand for botanical supplements can be attributed to the rise in the demand for nutritional and herbal supplements such as fish oils, detoxes, probiotic drinks, etc. across the globe. The increasing focus of the market players on the development of herbal health supplements with different compositions is likely to aid the growth of the market. For instance, In January 2021, Prorganiq launched a range of premium herbal and botanical supplements. This novel launch of pure and effective Prorganiq herbal supplements focuses on empowering people's total health and supporting them to build a better body through all-natural means. Owing to the glaring statistics due to the shift in lifestyles and the growing trend of exploring and experiencing novel foods across the globe is leading to the growing demand for botanical supplements and would contribute to the growth of the market in the forthcoming period as well. Furthermore, the botanical supplements market is anticipated to grow on account of the increase in awareness regarding micronutrient deficiencies and growing awareness regarding preventive health and immunity-boosting products among the population. However, some of the restraints in the market including the high cost of these healthy ingredients and availability of substitutes and complexity are impeding the growth of this market all over the world.

Dabur India Ltd, The Bountiful Company, Ricola AG., Mondelez International, Procter & Gamble Co, NUTRAMARKS INC, BASF SE, The Himalaya Drug Company, Botanicalife International of America Inc, Glanbia Nutritionals are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst sources, the leaves category accounted for the significant share in the market in 2020"

Based on the source, the botanical supplements market is segmented into herbs, leaves, spices, flowers, and others. The leaves segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. The shift in lifestyles and the growing trend of exploring and experiencing novel foods have led to the growth in the demand for leave-based botanical supplements. Increasing research and developments for various herbal plants for their immunity-boosting and other health benefits.

"Amongst forms, the tablets category is expected to witness considerable CAGR during the forecast period"

Based on the forms, the market is fragmented into powder, liquid, tablets, capsules, and others. The tablets segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. growing consumers' inclination towards tablets and capsules owing to the ease of consumption has led to market growth.

"Amongst application, the energy & weight management category is expected to witness considerable CAGR during the forecast period"

Based on the application, the market is fragmented into energy & weight management, general health, bone & joint health, gastrointestinal health, immunity, and anti-cancer. The energy & weight management segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period owing to the growing trend of online weight loss programs and government initiatives for promoting a healthy diet. Sedentary lifestyles, rising disposable income, and changes in food habits in Western Europe and North America increase people's inclination to develop health problems, such as cancer and diabetes.

"Amongst end-users, the offline category is expected to witness considerable CAGR during the forecast period"

Based on the end-users, the market is fragmented into offline and online. The offline segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. owing to the growing prevalence of self-medication for the treatment of significant health conditions and the rising demand for herbal supplements in daily consumption has offered momentum to the growth of the offline segment. the rising awareness regarding general health concerns and the growth of the pharmaceutical industry is likely to boost the growth of the market.

"North America to witness significant growth during the forecast period"

For a better understanding of the market dynamics of the botanical supplements market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America constitutes a major market for the botanical supplements industry owing to the increasing awareness regarding supplements infused with botanical ingredients, coupled with the growing consumption of dietary supplements.

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

Customization Options:

Global botanical supplements market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.