The global botanical supplements market size is expected to reach USD 48.75 billion by 2028 according to a new study by Polaris Market Research. The report “Botanical Supplements Market Share, Size, Trends, Industry Analysis Report, By Source (Herbs, Leaves, Spices, Flowers, Others); By Form (Powder, Liquid, Tablets, Capsules, Gummies, Others); By End-Use (OTC, Prescribed); By Application; By Regions; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
As per the survey done by Nutritional Outlook, it is being found that prevention and immunity are the most important purchase drivers in the market for botanical supplements. In 2019, immunity positioned fifth in the list of consumer market demands, and moved to third place, following the onset of the COVID-19 pandemic. Over 61% of the respondents in the U.S. said that they increased supplement consumption to invigorate immunity.
Moreover, the market survey also revealed that the COVID-19 pandemic has encouraged dietary changes, with botanical supplements accounted for over 44% of consumers in the country. It is being stated that the shift was primarily to promote sound immune heath.
Moreover, according to the statistics published by the American Botanical Council, in 2018, the sale of ashwagandha increased exponentially and was one of the 40 top-selling ingredients in both herbal and natural retail stores. The global health and nutrition industry is flooded with natural ingredients that can induce athletic performance in an individual. The shift is more towards plant-based botanical supplements.
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In 2020, the North America botanical supplements industry accounted for over 30% of the global market. Region’s dominance is due to rising consumer awareness regarding the potential benefits of the health supplements coupled with growing interest in natural products. Moreover, the rising rate of obese population in the U.S. and the increase in vegan population also propelled the region’s market growth for botanical supplements.
Companies operating in the market for botanical supplements Dabur India, Nutraceutical International Company, NBTY Inc., Mondelez International, The Himalaya Drug Company, Ricola AG., Procter and Gamble, BASF SE, and Blackmores Limited.
Polaris Market Research has segmented the botanical supplements market report on the basis of source, form, application, end-use, and region:
Botanical Supplements, Source Outlook (Revenue – USD Million, 2016 – 2028)
Botanical Supplements, Form Outlook (Revenue – USD Million, 2016 – 2028)
Botanical Supplements, Application Outlook (Revenue – USD Million, 2016 – 2028)
- Energy & Weight Management
- General Health
- Bone & Joint Health
- Gastrointestinal Health
- Cardiac Health
Botanical Supplements, End Use Outlook (Revenue – USD Million, 2016 – 2028)
Botanical Supplements, by Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- Saudi Arabia
- South Africa