Botanical supplements fall under dietary ingredients that are prepared using plants or plant parts. These supplements are valued for their medicinal or therapeutic properties as well as flavor and scent. Manufacturers are laying emphases on launching products with new and unique flavors. The focus is on introducing products that offer various health benefits in order to sway consumers who are highly health conscious. Persistence Market Research (PMR) in its report titled “Botanical Supplements Market: Global Industry Analysis and Forecast, 2017–2025” has offered a detailed analysis of the global botanical supplements market.
Holistic Benefits of Botanical Supplements Leading to their Higher Consumption
Consumers often look for dietary supplements that can offer holistic benefits when consumed rather than any specific benefits. Hence, many of the food brands are now offering products that contain botanical supplements owing to their holistic properties. This, in turn, is expected to drive the demand for botanical supplements to a certain extent. Moreover, manufacturers are also concentrating on developing customized products in an attempt to create exclusivity. Also, liberal regulations for manufacturing of botanical supplements encourage market players to experiment with their existing products, as they are not under any serious obligation to provide efficacy data. Liberal regulations pertaining to herbal/botanical supplements has led to the introduction of more products over the years.
As per PMR’s study, the global botanical supplement market is projected to reach a valuation of US$ 37,950 Mn by 2017-end. In terms of revenue, the market is set to witness a CAGR of 6.9% during the forecast period. Factors such as inclination of consumers towards naturally derived products and increasing health awareness will be majorly accountable for this growth.
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Additional Highlights of the Report Include:
- Currently, botanical ingredient-based cosmetics are trending in developed markets, and this trend is expected to continue throughout the forecast period. Meanwhile, their application in drug manufacturing is expected to remain the robust during the same period.
- On the basis of demography, consumption of botanical ingredient will be relatively high amongst adult women and the baby boomer population in 2017 and beyond.
Among regions, Europe is the largest market for botanical supplements, followed by North America. In 2016, the market in Europe stood at around US$ 11,385 Mn. Meanwhile, in Asia Pacific, countries such as China and India will continue to represent lucrative market opportunities. Manufacturers in this region are generating significant sales revenue from selling new botanical supplements. Towards the end of 2025, the market in Asia Pacific is estimated to reach a valuation of US$ 16,926.6 Mn, reflecting a CAGR of more than 6%.
PMR in its report has profiled some of the leading companies operating in the global market for botanical supplements, which include Amway corporation, Nutraceutical International Corporation, Blackmores Limited, Naturex SA, The Nature’s Bounty Co., Herbalife International, The Himalaya Drug Company, Bio-Botanica, Inc., Dabur India Limited, Integria Healthcare Pty Ltd., Nature’s Way Products, LLC., The Bioforce Group, Ricola AG, Bionorica SE, Biovontade Sarl, Bio Tae Extratos Vegetais Ltda., The Patanjali Ayurved Limited, Jiaherb Inc., Nutra Green Biotechnology Co. Ltd, Medico Herbs, Phytomed Herbal Solutions.