The North America Botanical Supplements Market would witness Market growth of 7.6% CAGR during the forecast period (2022-2028).
Fresh or dried botanical supplements come in a variety of forms, including pills, capsules, powders, and tea bags. Garlic, ginger, red clover extract, santalum, plantago, rhodiola extract, ginseng, and soy extract are among the most popular botanical supplements across region. The botanical supplements Market is predicted to be driven by an aging population and botanical supplements with few or no adverse effects. According to the United Nations Department of Economic and Social Affairs Population Division, there were 841 million individuals aged 60 and more in 2013, up from 205 million in 1950. As the percentage and the total number of the elderly rises in developed nations like the United States, the demand for botanical supplements is expected to receive a boost.
Growing consumer awareness of nutritional products and dietary supplements tailor-made to suit a certain individual has piqued customer interest in different areas of the world, favorably boosting the dietary additives Market growth. In the next years, technological developments and greater investment in nutraceutical and supplement product research and development are likely to promote Market growth even further.
Over the last decade or two, the use of nutritional supplements has increased dramatically in North American countries such as the United States. The majority of adults in the United States consumed some type of dietary supplement in 2018. As a result, the primary driver fueling the Market growth in the region is the rising use of dietary supplements along with rising awareness of supplements infused with botanical extracts. The "alt-medicine" trend is likely to drive significant revenue growth for botanical supplement producers, as consumer perceptions are expected to shift, leading to a high reliance on private-label brands in addition to national names. Retailers such as Walmart and Costco are also contributing to the trend by improving their private label offers with name, logo and formulations, superior packaging, and in-store customer education.
The US Market dominated the North America Botanical Supplements Market by Country in 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $13.8 Billion by 2028. The Canada Market is exhibiting a CAGR of 10% during (2022 - 2028). Additionally, The Mexico Market would showcase a CAGR of 9.1% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Botanical Supplements Market is Estimated to reach $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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