The global Botanical Supplements market size is expected to be worth around US$ 60.18 billion by 2030, according to a new report by Vision Research Reports.
The global Botanical Supplements market size was valued at US$ 30.47 billion in 2020 and is anticipated to grow at a CAGR of 10.1% during forecast period 2021 to 2030.
|Source, Form, Application, Distribution Channel|
|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|
The market is expected to grow exponentially as different producers continue to innovate on the production of botanicals with a broad range of amino acids and aim for specific functions, such as weight loss and muscle repair. Rising health consciousness increased concerns over diet, and enhanced care towards preventive healthcare have made consumers turn towards health imparting herbal supplements. Several manufacturers come out with alternative therapies to relieve women from frequent problems such as insomnia and menopausal hot flashes.
Herbal offerings such as fish oils, detoxes, and probiotic drinks, and other herbal supplements are on the rise. The demand for plant-based nutrients is witnessing an increase owing to the presence of phytochemicals, which help in protecting against various forms of cancer, including larynx, pharynx, mouth, lung, and esophagus. Phytochemicals are biologically active compounds that protect the cells from damage that can lead to cancer.
By Source Analysis
The leaves segment led the market and accounted for over 25.0% share of the global revenue in 2020. 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 herbal supplements.
The increased use of herbal leaves has coincided with augmented consumer familiarity and interest in Ayurveda, a traditional medicine system of India. Additionally, it is extensively being used as a food ingredient.
By Form Analysis
The tablets segment led the market and accounted for over 30.0% share of the global revenue in 2020. Growing consumers’ inclination towards tablets and capsules owing to the ease in consumption has led to market growth.
The powder segment is anticipated to remain one of the major form segments over the forecast period as nutraceutical companies are spending on the production of energy-mix products for health and wellness applications.
By Application Analysis
The energy and weight management segment led the market and accounted for over 20.0% share of the global revenue in 2020. This is due 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. Therefore, an increase in the incidence of health disorders has fostered the adoption of energy and weight-management products.
increased consumers’ inclination towards the intake of botanical supplements has created a steady growth in the current years due to rising disposable income in emerging countries. With the increasing working population and a rise in the prevalence of chronic diseases.
By Distribution Channel Analysis
The offline distribution channel segment dominated the market with a revenue share of more than 75.0% in 2020. 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 growth of the offline distribution channel segment is attributed to the rising awareness regarding general health concerns and the growth of the pharmaceutical industry.
By Regional Analysis
North America dominated the market and accounted for over 30.0% share of the global revenue in 2020. The increasing awareness regarding supplements infused with botanical ingredients,
Asia Pacific is anticipated to register the highest growth rate of 10.1% from 2020 to 2030. The regional market growth is attributed to the high inclination towards botanical/herb products in Asian countries such as India, China, and Japan.
The Botanical Supplements market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Botanical Supplements market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Botanical Supplements market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Botanical Supplements market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Botanical Supplements market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Botanical Supplements capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Botanical Supplements by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Botanical Supplements market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Botanical Supplements market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Botanical Supplements market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Botanical Supplements industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Botanical Supplements market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Botanical Supplements market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Botanical Supplements market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Botanical Supplements market. These factors have benefited the growth of the global market for Botanical Supplements. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Botanical Supplements. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Botanical Supplements are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are: