Botanical Supplement Market To Witness CAGR Of 8% (2022-2028) Due To Growing Acceptance Of Herbal Formulations Among Consumers | UnivDatos Market Insights

NOIDA, India, Nov. 25, 2022 /PRNewswire/ — According to a new report released by UnivDatos Markets Insights the Botanical supplements The market was valued at 40 billion dollars in 2020 and is expected to grow at a CAGR of approximately 8% from 2022 to 2028. The analysis was segmented into Sources (Herbs, Leaves, Spices, Flowers, Other); Form (Powder, Liquid, Tablet, Capsule, Other); Application (energy and weight management, general health, bone and joint health, gastrointestinal health, immunity, anticancer); End user (offline, online); Region/Country.

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The Botanical Supplements Market report has been aggregated by gathering informative data on various dynamics like market drivers, restraints, and opportunities. This groundbreaking report uses different analyzes to gain a more in-depth view of the Herbal Supplements Market. The Botanical Supplements Market report offers a detailed analysis of the latest industry developments and market trending factors that are influencing the growth of the market. Furthermore, this market research statistical archive examines and estimates the Herbal Supplements market on the global and regional level.

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Market overview

The demand for the botanical supplement market is on the rise due to government funding for the research and development of botanical supplements around the world. For example, inside June 2020The National Institutes of Health awarded 6 million dollars to Oregon Health & Science University to establish a research center for botanical dietary supplements. Due to these glaring statistics, the demand for botanical supplements is expected to grow in the coming years as they are as safe as supplements. Furthermore, several innovations in the dietary supplement industry are fueling the demand of the botanical supplement market. Furthermore, the development of customized botanical supplements is expected to drive the botanical supplement market in the coming years.

Some of the major players operating in the market include Dabur India Ltd, The Bountiful Company, Ricola AG., Mondel─ôz International, Procter & Gamble Co, NUTRAMARKS INC, BASF SE, The Himalaya Drug Company, Botanicalife International of America Inc, Glanbia Nutritionals among others .

Impact of COVID-19

The recent covid-19 pandemic has rocked the world and brought a state of shock to the global economy. COVID-19 has caused significant supply chain disruptions around the world, particularly in 2020. The growing preference for active and healthy lifestyles, combined with increased awareness about immunity following the outbreak of COVID-19, will stimulate the demand for even higher products. This is likely to increase the market penetration of botanical ingredients.

The report on the global Botanical Supplements market has been researched thoroughly with several aspects that would help the interested parties to make their most accurate decisions.

  • Based on the application, the market is fragmented into energy and weight management, general health, bone and joint health, gastrointestinal health, immunity and anti-cancer. The weight and energy management segment has captured a sizeable market share and is expected to grow at a significant CAGR during the forecast period due to the growing trend of online weight loss programs and government initiatives to promote healthy diet.

  • Based on the end users, the market is fragmented into offline and online. The offline segment has captured a sizable market share and is expected to grow at a significant CAGR during the forecast period. owing to the growing prevalence of self-medication for the treatment of significant health conditions and the growing demand for herbal supplements in daily consumption has provided impetus to the growth of the offline segment.

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Geographic Segmentation of the Botanical Supplements Market Includes:

  • North America (United States, Canadaand Rest of North America)

  • Europe (Germany, United Kingdom, Italy, France, Spainand the rest of Europe)

  • Asia Pacific (China, India, Australia, Japanand the rest of Asia Pacific)

  • Rest of the world

APAC is expected to grow at a substantial CAGR during the forecast period. This is mainly due to the increase in industrialization in developing countries such as China And India. Furthermore, the increased acceptance of international botanical supplement standards in the region is mainly due to the robust growth of heavily regulated industries such as oil, gas and energy.

Major players addressing the market include

Competitive landscape

The degree of competition among major global companies has been elaborated by analyzing several key players operating across the globe. The specialized team of research analysts shed light on various traits such as global market competition, market share, latest industry advancements, innovative product launches, partnerships, mergers or acquisitions by leading companies in the Market of botanical supplements. The major players have been analyzed using research methodologies to gain in-depth views on the global competition.

Key Questions Solved through this Analytical Market Research Report Include:

  • What are the latest trends, new models and technological advances in the botanical supplement market?

  • What factors are influencing the botanical supplement market over the forecast period?

  • What are the global challenges, threats and risks in the Botanical Products market?

  • What factors are driving and limiting the botanical supplement market?

  • What are the demanding global regions of the Botanical Supplements market?

  • What will be the size of the global market in the next few years?

  • What are the crucial market acquisition strategies and policies applied by global companies?

We understand the requirements of different companies, regions and countries, we offer customized reports according to your needs of business nature and geography. Please let us know if you have any custom needs.

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Market of botanical supplements Report coverage

Ratio attributeAnd

Details

Reference year

2020

Forecast period

2022-2028

Growth momentum

Accelerate to 8% CAGR

Market size 2020

USD 40 billion

Regional analysis

North America, Europe, APAC, Rest of the World

Main contributing region

APAC to dominate the Global market of botanical supplements

Main countries covered

United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, India, Australia

Profiled companies

Dabur India Ltd, The Bountiful Company, Ricola AG., Mondel─ôz International, Procter & Gamble Co, NUTRAMARKS INC, BASF SE, The Himalaya Drug Company, Botanicalife International of America Inc, Glanbia Nutritionals among others.

Report Scope

Market trends, drivers and restrictions; Revenue estimation and forecast; Segmentation analysis; Impact of COVID-19; Supply and demand analysis; ccompetitive landscape; Company Profile

Segments covered

By source; By module; by application; By the end user; By region/country

About UnivDatos Market Insights (UMI)

UnivDatos Market Insights (UMI) is a passionate market research company and a subsidiary of Universal Data Solutions. We believe in providing insights through market intelligence reports, custom company research, and primary research. Our research studies are spread across topics worldwide, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analyzes and customized reports that help define winning business strategies for our clients.

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