Botanical Supplements - Global Market Outlook (2019-2027)
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.
• Fruits & Vegetables
• Gummy and Chewable Vitamins
• Fizzing Tablets
• Green Tea
• Grape Seed
• Black Cohosh Root
• Valerian Root
• Evening Primrose
• Oregano Oil
• Aloe Vera
• Saw Palmetto
• Horny Goat Weed
Distribution Channels Covered:
• Departmental Stores
• Beauty Outlets
• Pharmacies/ Drug Stores
• Natural and Health Stores
• Online Retail Stores
• Personal Care & Cosmetics
• Food and Beverages
• Pharmaceuticals & Drugs
• Other Applications
End Users Covered:
• Pregnant Women
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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