Reports and Insights freshly added a report titled “Botanical Supplements Market: Opportunity Analysis and Future Assessment 2022-2030” in its database of market research reports which offers its readers a detailed and profound analysis on the fresh growth opportunities, trends and growth drivers that are closely linked with the growth of the market. The report further provides crucial insights on the COVID-19 impacts on the Botanical Supplements Market along with the compound growth rate (CAGR) of the market for a forecasted period between 2022 and 2030. The report also comprises assessment of the market by employing various analytical tools, such as Porter’s five forces analysis and PESTEL analysis. These tools also offer an in-depth analysis on the micro and macro-environmental factors that are related to the growth of the market over the projected period.
The global botanical supplements market in 2020 is estimated for more than US$ 54.5 Bn and expected to reach a value of US$ 91.9 Bn by 2028 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.
Botanical Supplements Market Regional Overview and Analysis
On the basis of region, the global botanical supplements market is segmented into six regions namely North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. North America botanical supplements market is expected to be the most dominating market throughout the forecast period. Increasing count of geriatric patients coupled with the growing aging population is fueling the growth of this market. Moreover, the sudden shift from chemical or synthetic medication to herbal based supplements is another prime factor boosting the need for botanical supplements, globally.
MMC Overview on Botanical Supplements Market Report
The non-identical approach of Reports and Insights stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give better opportunity for the customers to put their effort.
A research report on the botanical supplements market by Reports and Insights is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.
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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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