Botanical Supplements Market Size & Analysis to 2022-2028

Global Botanical Supplements Market Size, Share & Industry Trends Analysis Report By Source, By Form, By Application, By Distribution Channel (Online and Offline), By Regional Outlook and Forecast, 2022 - 2028

Published Date: May-2022 | Number of Pages: 304 | Format: PDF | Report ID: KBV-17615

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COVID-19

Get in-depth analysis of the COVID-19 impact on the Botanical Supplements Market

Market Report Description

The Global Botanical Supplements Market size is expected to reach $55.7 billion by 2028, rising at a Market growth of 8.9% CAGR during the forecast period.

Botanical supplements lie within the category of dietary nutrients derived from plants. These supplements are prized for their medicinal or therapeutic benefits, as well as their taste and aroma. Manufacturers are emphasizing the launch of items with new and distinctive flavors. The emphasis is on introducing items that provide a variety of health benefits in order to sway health-conscious consumers.

As various producers continue to develop the process of creation of botanicals with a broad spectrum of amino acids and aim for specialized tasks like weight loss and muscle regeneration, the Market is predicted to increase dramatically. Rising health awareness has heightened concerns about diet, and increased attention to preventative healthcare has prompted people to seek out health-promoting botanical supplements. Several companies have released alternative therapies to help women with common issues including sleeplessness and menopausal hot flashes. Fish oils, detoxes, and probiotic drinks, as well as other botanical supplements, are becoming more popular. The Market for botanical supplements is projected to be fueled by consumers becoming more comfortable with supplementation, high-income levels, and world-class infrastructure for sports and exercise.

Ingredients like these can help with various elements of athletic performance abound in the sports nutrition and health Market s. For athletes wishing to increase their performance, these botanical substances can help with a variety of aspects of sports training. Furthermore, the existence of key competitors like Glanbia, Blackmores Limited, and The Himalaya Drug Company, as well as mass retailers like Walmart, who sell their own private labeled botanical supplements, is projected to boost the Market growth.

In January 2019, for example, Nestle S.A., with a humongous investment, launched its first R&D unit in Ireland. The new R&D center will concentrate on conducting scientific research to aid in the development of breakthrough newborn nutrition products and milk-based materials for the Market .

Botanical Supplements Market Size - Global Opportunities and Trends Analysis Report 2018-2028

COVID-19 Impact Analysis

The outbreak of the COVID-19 pandemic has impacted the business domains significantly. According to a new poll by Nutritional Outlook, the increased knowledge of preventative health and immunity-boosting products is driving the consumption of botanical supplements in the United States. Immunity fell to the third position during the COVID-19 pandemic, following general wellness/disease prevention and gut/digestive health. Preventive health care is growing more popular among consumers. Governments and health organizations have urged consumers to use numerous botanical supplements containing health-promoting elements like turmeric/curcumin, fenugreek, and Tinosporacordifolia to enhance their immunity against various infections.

Market driving Factors:

Customers Becoming Health Conscious due to Increasing Incidences of Diabetes, Obesity, and High Blood Pressure

Consumer knowledge of the health advantages associated with the intake of botanical supplements including holy basil extract, which aids in the alleviation of anxiety, is projected to stimulate demand for botanical supplements. The demand for botanical supplements is expanding as a result of increased advertising and the simple availability of these supplements over the counter. Due to the sheer use of the internet and social media, consumers are increasingly prone to self-medicate. Over the forecast period, these factors are expected to propel the Market for botanical supplements forward.

Adoption of Botanical Supplements by the Elderly

The growing geriatric population in affluent countries such as the United States and Japan has resulted in enormous healthcare spending. Because alternative medications have few or no adverse effects, the senior population prefers to use them as a preventive health strategy. Botanical supplements are chosen by the aging population, which is increasing the Market for botanical supplements. According to a demographic census conducted in the United States, approximately 54 million people had crossed the age of 65 in 2019. These people are more likely to use personal healthcare items to meet their health needs as they age. This opens up the attractive potential for botanical supplement makers to sell products based on botanical extracts in the personal healthcare Market .

Market ing Restraining Factor:

Lack of Regulation and False Advertising

The lack of strong rules and regulations governing the safety and efficacy of botanical health supplement products is projected to stifle the Market 's expansion. Since manufacturers place less focus on product labeling and safety, the number of fraudulent health claims made in order to advertise their products has increased dramatically. These factors have influenced consumer perceptions of botanical supplements, which is projected to have a negative impact on the Market 's growth to some extent. Patanjali Ayurved (an Indian herbal supplement business) was fined $18,000 in December 2016 for misrepresenting product promotions.

Botanical Supplements Market Share and Industry Analysis Report 2021

Source Outlook

Based on Source, the Market is segmented into Leaves, Spices, Herbs, Flowers, and Others. The herbs segment obtained a significant revenue share of the botanical supplements Market s in 2021. Herb-based pharmaceutical treatments are gaining popularity around the world due to their health benefits, which include increased metabolism and immune system, as well as hormone stabilization. Ayurveda, Yoga, Homoeopathy, and Siddha are just a few of the topics that are gaining traction, raising the demand for herbs-based botanical products.

Form Outlook

Based on Form, the Market is segmented into Tablets & Capsules, Powder, Liquid, Gummies, and Others. The tablets & capsules segment acquired the largest revenue share of the botanical supplements Market in 2021. The segment has grown as consumers' preferences for tablets and capsules have shifted due to their simplicity of use. In addition, the significant expansion of the pharmaceutical business in emerging countries like China and India has contributed to an increase in tablet demand in the botanical supplement Market .

Application Outlook

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. The cardiac health segment witnessed a significant revenue share in the botanical supplements Market in 2021. This is due to the increasing disposable income in developing countries, greater consumer inclination toward the use of botanical supplements has fostered a consistent expansion in recent years. Buyers in the Asia Pacific region are willing to pay more for cardiac health botanical supplements as the working population grows and the prevalence of chronic diseases rises. As a result, the heart health supplements Market has experienced rapid expansion, which is expected to continue throughout the forecast period.

Distribution Channel Outlook

Based on Distribution Channel, the Market is segmented into Online and Offline. The offline segment acquired the largest revenue share of the botanical supplements Market in 2021. The expansion of the offline segment has been aided by the increased incidence of self-medication for the treatment of serious health disorders and the growing preference for botanical supplements in daily use. Through offline stores, consumers can get assurance about the quality of the product as they can check the product first handedly. The increase in the offline distribution network sector can be linked to raising public awareness of general health concerns and the pharmaceutical industry's expansion. The growing trend among consumers to acquire offline drugs for a variety of minor ailments without consulting a doctor, as well as the dissemination of information and consultation in reputable media about the functions of botanical supplements, has driven the industry's rise in major regions.

Botanical Supplements Market Report Coverage
Report Attribute Details
Market size value in 2021 USD 30.3 Billion
Market size forecast in 2028 USD 55.7 Billion
Base Year 2021
Historical Period 2018 to 2020
Forecast Period 2022 to 2028
Revenue Growth Rate CAGR of 8.9% from 2022 to 2028
Number of Pages 304
Number of Tables 530
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling
Segments covered Source, Form, Application, Distribution Channel, Region
Country scope US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers
  • Customers Becoming Health Conscious due to Increasing Incidences of Diabetes, Obesity, and High Blood Pressure
  • Adoption of Botanical Supplements by the Elderly
Restraints
  • Lack of Regulation and False Advertising

Regional Outlook

Based on Regions, the Market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. The North American region acquired the largest revenue share of the botanical supplements Market in 2021. The expanding consumption of dietary supplements, together with rising knowledge of supplements infused with botanical elements, is a major driver driving Market expansion in the region.

Free Valuable Insights: Global Botanical Supplements Market size to reach USD 55.7 Billion by 2028

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.)

Recent Strategies Deployed in Botanical Supplements Market

  • Mar-2022: Glanbia Nutritionals introduced BarPro 100/120 MPCs and BarFlex 100 WPC, protein solutions created to offer a less powdery, glassy, chalky texture during extrusion as compared to other protein products. The protein solutions are created to solve manufacturing and sensory challenges in protein extrusion in the cereal and snack segment with four new ingredients.
  • Nov-2021: Glanbia Nutritionals formed a partnership with Ixoreal Biomed, an ingredient supplier. The partnership aimed to make its ashwagandha, KSM-66 optimal using its microencapsulation technology, which is utilized as a protective membrane and flavor masker, called Nutrashield Technology. The mixture of a great ashwagandha extract such as KSM-66 Ashwagandha with the decades worth of experience of Glanbia Nutritionals in nutrient development offers customers a strong ingredient for their ready-to-mix powders, ready-to-drink beverages, gummies, effervescent and chewable.
  • Nov-2021: Procter & Gamble introduced Vicks Super C dietary, a supplement that also has zinc and other herbal and mineral ingredients. The products would be co-packaged with Vick's DayQuil and NyQuil cold remedies, two of P&G's most popular OTC drug brands. This is done to get the attention of consumers to the brand in the US.
  • Oct-2021: Procter & Gamble (P&G) took over Merck's Consumer Health business, a multinational pharmaceutical company based in Darmstadt, Germany. Under this acquisition, P&G claimed to have established a new healthcare organization, which would aim at helping consumers live healthier, longer, and more fulfilling lives. This would also enable P&G to grow its sales and generate more profit.
  • Oct-2021: Cadbury launched the Cadbury Plant Bar, a new vegan chocolate bar made with almond paste instead of milk. The product is derived from Cadbury's own Dairy Milk, one of the most widely loved chocolate bars in the region. Cadbury would claim the plant-based chocolate bar is similar in texture and taste to Cadbury's other offerings while giving a bit of nuttiness.
  • Aug-2020: Glanbia Nutritionals took over Foodarom, a company centered around designing flavors and headquartered in Canada. The sharing of information and experience between the two companies' R&D teams would help Glanbia in the flavor designing process. This would further improve Glanbia's capacity to offer ingredient solutions to its customers.
  • Nov-2019: The Himalaya Drug Company unveiled its new product called Quista Kidz. This delicious and nutritional supplement, designed for children between the age of 3 and 10, helps them build their immunity and enables their growth while making their memory sharper. Quista Kidz is a distinctive blend, which combines scientific research and time-tested traditional ingredients to bring the best of both worlds. It is enriched with 100% milk protein, vitamins, and minerals.
  • Nov-2019: P&G Ventures entered into a partnership with M13, an American venture capital firm. The partnership aimed to release a new direct-to-consumer brand named Kindra, with the aim of offering proven, estrogen-free solutions, personalized resources for handling menopause and relieving symptoms, and a supportive community. Kindra's objective is to not only provide women with clinically proven symptom relief and support but also create a discussion around the challenges and triumphs of a time in life every woman has to go through. Initially, Kindra would release four product lines: The Daily Vaginal Lotion & Applicator, The Core Dietary Supplement, Energy Boosting Dietary Supplement, and Sleep Enhancing Dietary Supplement.
  • Feb-2019: Dabur India Limited introduced Ratnaprash and Hridayasava, the former being an Ayurvedic formulation offering strength, stamina, and vigor while the latter being an exceptional drug aiming to improve heart health. The products were unveiled at “KAUMARCON-2019”, International Conference on Mother and Child Care through Ayurveda. The products are a striking example of the combination of ancient Indian knowledge of Ayurveda with modern science. These herbal products help in beating day-to-day diseases.
  • Feb-2019: Glanbia completed the acquisition of Watson, a company focused on creating non-dairy-based ingredient solutions. The acquisition aimed to Glanbia increases its nutrient premix ingredient solutions foothold in the United States Market . Glanbia's two micronutrient manufacturing units in California and Missouri would join by Watson's two manufacturing facilities in Illinois and Connecticut.
  • Sep-2017: Ricola unveiled its Ricola Herbal Citrus Gummies. Ricola has been a major producer of natural over-the-counter lozenges and herb cough drops and strengthened its position in the Market further with this product launch. Ricola Herbal Immunity gummies would enhance the immune system of the consumer and help them fight the feeling of fatigue. These gummies are created using Ricola's proprietary 19-herb mixture and a special amalgamation of Ginseng extract plus vitamins B12, B6, and C.

Scope of the Study

Market Segments Covered in the Report:

By Source

  • Leaves
  • Spices
  • Herbs
  • Flowers
  • Others

By Form

  • Tablets & Capsules
  • Powder
  • Liquid
  • Gummies
  • Others

By Application

  • Energy & Weight Management
  • General Health
  • Bone & Joint Health
  • Cardiac Health
  • Immunity
  • Gastrointestinal Health
  • Diabetes
  • Anti-cancer
  • Others

By Distribution Channel

  • Offline
  • Online

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Key Market Players

List of Companies Profiled in the Report:

  • 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)
  • The Himalaya Drug Company (Himalaya Global Holdings Ltd.)

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Related Reports:

North America Botanical Supplements Market Report 2022-2028

Europe Botanical Supplements Market Report 2022-2028

Asia Pacific Botanical Supplements Market Report 2022-2028

LAMEA Botanical Supplements Market Report 2022-2028

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