The Asia Pacific Botanical Supplements Market would witness Market growth of 9.8% CAGR during the forecast period (2022-2028).
Consumers are becoming more aware of preventative healthcare measures as the prevalence of age and lifestyle-related disorders rises, and hence are gravitating toward health-beneficial items such as food additives, which is likely to drive the Market . The industry's growth is being boosted by increased innovation from both large and small Market participants. For example, in March 2018, the GHT firms announced the debut of a new vegan nutritive product line. The new products are being developed to suit the growing demand for animal-free, plant-based weight-loss products.
Furthermore, various governments' measures to assist the manufacturing and adoption of botanical supplements are projected to boost the Market growth. For example, the Indian government launched an economic stimulus package in July 2020 as part of the Atmanirbhar Bharat Abhiyan, allocating a substantial amount to the herbal industry to stimulate herbal farming.
The significant preference for botanical goods in Asian countries such as Japan, India, and China is credited with driving the regional Market growth. In addition, the region is a major producer and exporter of herbs around the world. The rising demand for medicinal and botanical substances is a major element driving the region's Market expansion. The long-standing practice of using botanical medicine in the Asia Pacific, present economic growth, and growing urbanization are all boosting Market for botanical supplements. The Asia Pacific is likely to overtake Europe as the largest Market for botanical supplements as a result of these factors.
The Asia Pacific region is a promising Market for botanical supplements, because of rising consumer health awareness, which encourages individuals to use health-enhancing supplement products in their daily lives. The need for nutritional supplements is rapidly rising in the region's densely populated countries, such as China and India.
The China Market dominated the Asia Pacific Botanical Supplements Market by Country in 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $4.4 billion by 2028. The Japan Market is estimated to grow at a CAGR of 9.1% during (2022 - 2028). Additionally, The India Market would display a CAGR of 10.5% during (2022 - 2028).
Based on Source, the Market is segmented into Leaves, Spices, Herbs, Flowers, and Others. Based on Form, the Market is segmented into Tablets & Capsules, Powder, Liquid, Gummies, and Others. Based on Application, the Market is segmented into Energy & Weight Management, General Health, Bone & Joint Health, Cardiac Health, Immunity, Gastrointestinal Health, Diabetes, Anti-cancer, and Others. Based on Distribution Channel, the Market is segmented into Online and Offline. Based on countries, the Market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Botanical Supplements Market is Projected to reach USD 55.7 Billion by 2028, at a CAGR of 8.9%
The Market research report covers the analysis of key stake holders of the Market . Key companies profiled in the report include Ricola Group Ltd., Nutraceutical Corporation, Blackmores Limited, Dabur India Ltd., Mondelez International, Inc., The Procter and Gamble Company, Glanbia PLC, BASF SE, The Bountiful Company (Nestlé SA), and The Himalaya Drug Company (Himalaya Global Holdings Ltd.)
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