Botanical Supplements Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Botanical Supplements Market grew at a CAGR of 7.1% between 2017-2021 and is estimated to be US$ 32471.8 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 7.8% and is expected to reach a valuation of US$ 68,816.7 Mn by 2032 end.
Botanical supplements not only add original flavor to foods but also are thought to have health advantages. For instance, Echinacea plant extract and green tea extract both effectively support cardiovascular health. According to the study, 82% of European customers have confidence in such goods to preserve a natural and robust health, and 97% of European consumers can understand the term “botanical or herbal supplements” properly.
ChemView Consulting has analyzed that consumer awareness of dietary supplements and their advantages has expanded due to several awareness initiatives launched by the government and non-governmental groups. Additionally, in many nations, consuming high-quality foodstuffs with added nourishment represents one’s social standing. Using organic and natural products by some manufacturers of dietary supplements contributes to the market’s expansion. The employment of eye-catching packaging strategies has increased consumer awareness, which has, in turn, encouraged the purchase of botanical supplements.
Due to changing lifestyles and a rise in the trend of trying new dishes, which has fueled the appeal of spices, the market’s largest segment—spices—is anticipated to have significant expansion throughout the projected period. Utilizing this raw material, botanical compounds are extracted using a solvent. They are herbal and can be found in liquid, solid, and semi-solid phases.
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Segments Covered in Report
By Distribution Channel:
- Energy & Weight Management
- General Health
- Bone & Joint Health
- Gastrointestinal Health
- Cardiac Health
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Botanical Supplements Market
- Based on the source, due to changing lifestyles and a rise in the trend of trying new dishes, which has fueled the appeal of spices, the market’s largest segment—spices—is anticipated to have significant expansion throughout the projected period. Utilizing this raw material, botanical compounds are extracted using a solvent. They are herbal and can be found in liquid, solid, and semi-solid phases.
- Based on the form, tablets are the most widely utilized botanical supplements due to their affordability. Tablets have a longer shelf life than capsules and are the most compact form factor that manufacturers may use. Excipients are substances used in high-quality supplements that aid in pill absorption and disintegration.
- Based on the application, The energy and weight management category headed the market, which collected over 20.0% of global sales. This is brought on by the expanding popularity of online weight loss programs and government programs that support a healthy diet. In recent years, industrialized economies have seen an alarming rise in the prevalence of health issues like diabetes, cancer, and cardiovascular disorders.
- Based on the region, North America dominated the market with more than 32.5% of global revenue. The important aspect driving the industry expansion in the area is the rising awareness of dietary supplements infused with botanical ingredients and the increasing use of nutritional supplements
Key companies covered in the market study are Dabur India, NBTY Inc., Ricola AG., Mondelez International, Procter and Gamble, Nutraceutical International Company, BASF SE, The Himalaya Drug Company, Glanbia Nutritionals, Botanicalife International of America, Inc., Blackmores Limited
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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