The report is titled as ‘Botanical Supplements Market: Opportunity Analysis and Future Assessment 2022-2030’. An overview of conceptual frameworks, analytical approaches of the botanical supplements market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. The botanical supplements market is expected to grow with significant rate in the near future.
The global botanical supplements market in 2022 is estimated for more than US$ 54.5 Bn and expected to reach a value of US$ 91.9 Bn by 2030 with a significant CAGR of 6.8%.
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Botanical Supplements Introduction
Botanical supplements refer to the extract, in the form of pills or powder, which is widely consumed for its therapeutic properties, flavors, and other purposes. The products that are processed from botanicals are beneficial for the maintenance of proper human health and thus can be known as herbal phytomedicines. The supplements are also available in the form of tea bags, which makes it easier for the consumer to make use of the brewing process and consume such supplements. The consumption of such herbal supplements on regular basis also ensures the improvement in prostate health, brain health along connective and joint tissue health.
Botanical Supplements Market Dynamics
Changing the perception of users regarding such supplements coupled with the changing and hectic lifestyle is promoting the growth of this market all over the world. Moreover, increasing the count of lifestyle diseases, accounting for obesity, high blood pressure, and diabetes is also increasing the demand for botanical supplements. Additionally, the easy availability and inclination towards home care remedies are also boosting the botanical supplements, especially in the youth category. Whereas, the lack of adaptability of supplements on regular basis coupled with the stringent regulations associated with such supplements may restrict the growth of the market.
The botanical supplements market is expected to increase at a significant CAGR over the forecast period owing to the increasing advertisements linked to supplements, adoption of Good Manufacturing Practices to ensure good quality end product and elevating count of key players in the market. On the basis of application, pharmaceutical segment dominates this market, followed by food and beverage segment.
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Botanical Supplements Market Segmentation
The global botanical supplements market is segmented on the basis of demography, application, sales channel, and region.
On the basis of demography, the global botanical supplements market can be segmented into male, female and others. On the basis of application, the global botanical supplements market can be segmented into personal care, food & beverages, pharmaceuticals and others. On the basis of sales channel, the global botanical supplements market can be segmented into beauty outlets, departmental store, online store, pharmacy store, supermarket, and others.
By Demography
- Male
- Female
- Others
By Application
- Personal Care
- Food & Beverages
- Pharmaceuticals
- Others
By Sales Channel
- Beauty Outlets
- Departmental Store
- Online Store
- Pharmacy Store
- Supermarket
- Others
Botanical Supplements Market Key Players
Botanical supplements market is mainly dominated by Arizona Natural Resources, Inc., Imperial Ginseng Products Ltd., International Vitamin Corp., NaturaLife Asia Co., Ltd., Natures Sunshine Products Incorporated, Nutraceutical International Corporation, Pharmaton Natural Health Products, Procter & Gamble, and The Himalaya Drug Company.
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