The global Botanical Supplements market size is expected to be worth around US$ 49.35 billion by 2027, according to a new report by Vision Research Reports.
The global Botanical Supplements market size was valued at US$ 27.84 billion in 2019 and is anticipated to grow at a CAGR of 7.3% during forecast period 2020 to 2027.
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Botanical Supplements Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 – 2027 – Breakdown Data by Regions, Type, Manufacturers and Applications
Growing awareness among consumers concerning the health benefits related to the consumption of botanical supplements is predicted to boost the growth of the market.
The market is expected to witness significant growth over the forecast period owing to changing lifestyles, rapid urbanization, rising health consciousness, and increasing per capita income. In addition, lifestyle diseases such as malnourishment, overweight, and blood pressure, coupled with the high cost of medical treatments, are expected to create health awareness among consumers, which, in turn, is anticipated to fuel the product demand.
Supplements are primarily consumed to ensure the intake of nutritional constituents that are important for the human body. Increasing occurrences of cardiovascular diseases owing to the slow and inactive lifestyle, particularly in the age group of 30 to 40 years, and fluctuating dietary patterns are projected to boost the market growth over the next few years
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.
- The OTC end-use segment held the largest revenue share in 2019 due to growing demand for the products, specifically targeted at personal care, skin health, and digestive health
- Poor lifestyle owing to poor dietary habits is leading to the deficiency of essential and nutrients, which is boosting the demand for botanical supplements significantly. Hectic schedules and rising disposable income are the major reasons behind the low-nutrition diets
- By form, the tablets segment accounted for the largest share of 31.34% in 2019. Consumers’ preference for tablets owing to their ease in consumption and significant growth of the pharmaceutical industry in the emerging countries, such as Brazil and India, has led to the demand for tablets in the market
- The multi-dose packaging segment registered the highest revenue-based CAGR of over 6.3% during the forecast period on account of benefits such as the ability to enhance patient safety, elimination of medication waste, and assisting patients with complicated prescription regimens. The yeast extract is extremely versatile for food production. It is used to season sauces, bouillons, soups, savory snacks, and ready meals. It not only complements the savory taste of meat and fish dishes, but it is also perfect for preparing vegetarian dishes as it is free from animal ingredients but still provides a meaty taste. Asia Pacific is expected to witness the fastest growth at a CAGR of 8.3% from 2014 to 2020
- Asia Pacific is expected to expand at the fastest CAGR of 8.6% from 2020 to 2027 owing to consumer reliance on the safety and efficacy of herbal products. Countries such as India and China are projected to offer several growth opportunities for the industry
- In February 2019, Roche Holding AG, a Swiss-based pharmaceutical company, has announced an acquisition with Spark Therapeutics, an American-based pharmaceutical company that develops gene therapies. Through this acquisition, Spark Therapeutics has enhanced its product range across the globe.
- Dabur India, NBTY Inc.
- Ricola AG.
- Mondelez International
- Procter and Gamble
- Nutraceutical International Company
- BASF SE
- The Himalaya Drug Company
- Blackmores Limited
Botanical Supplements Source Outlook
Botanical Supplements Form Outlook
Botanical Supplements Application Outlook
- Energy & Weight Management
- General Health
- Bone & Joint Health
- Gastrointestinal Health
- Cardiac Health
Botanical Supplements End-use Outlook
Botanical Supplements Regional Outlook
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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