Botanical Supplements Market to Witness CAGR of 8% (2022-2028) on account of Growing Acceptance of Herbal Formulations Among Consumers| UnivDatos Market Insights

NOIDA, India, Nov. 25, 2022 /PRNewswire/ — According to a new report published by UnivDatos Markets Insights the Botanical Supplements Market was valued at USD 40 trillion in 2020 and is expected to grow at a CAGR of around 8% from 2022-2028. The analysis has been segmented into Source (Herbs, Leaves, Spices, Flowers, Others); Form (Powder, Liquid, Tablets, Capsules, Others); Application (Energy & Weight Management, General Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Anti-cancer); End User (Offline, Online); Region/Country.

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The Botanical Supplements market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyzes to get a closer outlook on the Botanical Supplements market. The Botanical Supplements market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Botanical Supplements market at the global and regional levels.

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Market Overview

The demand for the botanical supplements market is rising due to government funding for research and development in botanical supplements around the globe. For instance, in June 2020The National Institutes of Health awarded US$ 6 million to Oregon Health & Science University to establish a research center for botanical dietary supplements. Owing to these glaring statistics the demand for botanical supplements is anticipated to grow in the forthcoming years as they are safe as supplements. Moreover, several innovations in the nutritional supplements sector are fueling the demand for the botanical supplements market. Furthermore, the development of personalized botanical supplements is expected to drive the market for botanical supplements market in the coming years.

Some of the major players operating in the market include Dabur India Ltd, The Bountiful Company, Ricola AG., Mondelēz International, Procter & Gamble Co, NUTRAMARKS INC, BASF SE, The Himalaya Drug Company, Botanicalife International of America Inc, Glanbia Nutritionals among others.

COVID-19 Impact

The recent covid-19 pandemic has disrupted the world and has brought a state of shock to the global economy. COVID-19 has caused significant supply chain disruptions around the world, most notably in 2020. The rising preference for a healthy and active lifestyle, combined with increased awareness about immunity as a result of the COVID-19 outbreak, is expected to drive product demand even higher. This is likely to increase the market penetration of botanical ingredients.

The global botanical supplements market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

  • 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.
  • 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.

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Botanical Supplements Market Geographical Segmentation Includes:

  • North America (United States, Canadaand Rest of North America)
  • Europe (Germany, United Kingdom, Italy, France, Spainand the Rest of Europe)
  • Asia Pacific (China, India, Australia, Japanand the Rest of Asia Pacific)
  • rest of the world

APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increase in industrialization in developing nations such as China and India. Furthermore, the increased acceptance of international Botanical Supplements standards in the region is mainly due to the robust growth of heavily regulated industries such as oil & gas and power.

The major players targeting the market include

  • Dabur India Ltd
  • The Bountiful Company
  • Ricola AG.
  • Mondelēz International
  • Procter & Gamble Co.
  • NUTRAMARKS INC
  • BASF SE
  • The Himalaya Drug Company
  • Botanicalife International of America Inc.
  • Glanbia Nutritionals

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Botanical Supplements Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

Key questions resolved through this analytical market research report include:

  • What are the latest trends, new patterns, and technological advancements in the Botanical Supplements market?
  • Which factors are influencing the Botanical Supplements market over the forecast period?
  • What are the global challenges, threats, and risks in the Botanical Supplements market?
  • Which factors are propelling and restraining the Botanical Supplements market?
  • What are the demanding global regions of the Botanical Supplements market?
  • What will be the global market size in the upcoming years?
  • What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirement of different businesses, regions, and countries, we offer customized reports as per your requirements of business nature and geography. Please let us know If you have any custom needs.

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Botanical Supplements Market Report Coverage

Report Attributee

Details

Base year

2020

forecast period

2022-2028

Growth momentum

Accelerate at a CAGR of 8%

Market size 2020

$40 trillion

Regional analysis

North America, Europe, APAC, Rest of World

Major contributing region

APAC to Dominate the Global Botanical Supplements Market

Key countries covered

United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, India, Australia

Companies profiled

Dabur India Ltd, The Bountiful Company, Ricola AG., Mondelēz International, Procter & Gamble Co, NUTRAMARKS INC, BASF SE, The Himalaya Drug Company, Botanicalife International of America Inc, Glanbia Nutritionals among others.

Report Scope

Market Trends, Drivers, and Restraints; Revenue Estimate and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; VSCompetitive Landscape; Company Profiling

Covered Segments

BySource; By Form; By Application; By End-User; By Region/Country

About UnivDatos Market Insights (UMI)

UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

Contact

UnivDatos Market Insights
Ankita Gupta
Director Operations
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Email: Ankita.gupta@univdatos.com
Website: https://univdatos.com/

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