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Botanical Supplements Market worth $118.61 billion by 2030, growing at a CAGR of 15.69% - Exclusive Report by 360iResearch
Botanical Supplements Market | 360iResearch
The Global Botanical Supplements Market to grow from USD 42.75 billion in 2023 to USD 118.61 billion by 2030, at a CAGR of 15.69%.
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Botanical supplements are nutritional supplements made from plants or plant extracts and are often referred to as herbal supplements or phytochemicals. They are used to complement diets and offer extra health advantages over and beyond essential nutrition. A plant's leaves, stems, flowers, roots, and seeds are used to create herbal supplements in various forms, including capsules, tablets, liquids, and teas. Various health advantages, including boosting the immune system, lowering inflammation, enhancing cognitive function, and promoting general wellness, are provided by several botanical supplements that have been used for centuries in traditional medicine. The increasing need for natural and preventive health treatments supports the demand for botanical supplements, facilitated by the availability and accessibility of these items through eCommerce platforms. However, cost-effective alternatives, unstructured regulations, and lack of experimental evidence make it challenging for consumers to buy and use botanical supplements safely and effectively. It is important to consult with a healthcare professional before consuming any new supplement and opting for reputable brands with a quality and safety track record. On the other hand, an emphasis on innovation and distinct research and development (R&D) activities for botanical supplements creates an opportunity to introduce new herbal supplements as manufacturers seek new bioactive compounds that provide special advantages. Moreover, private-label herbal supplements are becoming more popular due to innovative branding and formulations as companies aim to differentiate their products from their competitors.
The Americas showcases a significant share and developed market for botanical supplements attributed to the consumer inclination toward herbal extracted medicines and increasing spending on preventive measures for health. The increasing product promotion and awareness through social media across major developed economies support the growth of botanical supplement penetration. In the Asia-Pacific, several steps are being taken by the governments of China, India, South Korea, and Australia, among others, to promote exports from India and export avenues for farmers to grow herbs and medicinal plants in the region. In addition, the European consumer preference for more natural, safe, and effective oral solutions for immunity building, diabetes, and energy & weight management, among others, is creating scope for novel developments and boosting the sales of botanical supplements in these regions. The emphasis of several European manufacturers on developing innovative and natural botanical supplements is expected to fuel market growth.
Market Segmentation & Coverage:
This research report categorizes the Botanical Supplements Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Source, market is studied across Flower, Fruits, Leaves, Roots, Seeds, and Stem. The Leaves commanded largest market share of 18.85% in 2023, followed by Seeds.
Based on Age-Group, market is studied across 0-10 Years, 11-20 Years, 21-45 Years, 46-60 Years, and 60 Years and above. The 21-45 Years commanded largest market share of 34.67% in 2023, followed by 46-60 Years.
Based on Form, market is studied across Capsules, Liquid, Powder, and Tablets. The Powder commanded largest market share of 28.12% in 2023, followed by Capsules.
Based on Application, market is studied across Anti-Cancer, Bone & Joint Health, Cardiac Health, Diabetes, Energy & Weight Management, Gastrointestinal Health, General Health, and Immunity. The General Health commanded largest market share of 17.12% in 2023, followed by Immunity.
Based on Distribution Channel, market is studied across Offline and Online. The Offline commanded largest market share of 83.79% in 2023, followed by Online.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Europe, Middle East & Africa commanded largest market share of 35.11% in 2023, followed by Asia-Pacific.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Botanical Supplements Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Botanical Supplements Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Botanical Supplements Market, highlighting leading vendors and their innovative profiles. These include Airenherbals, Amway Corporation, Arbro Pharmaceuticals Pvt. Ltd., Arizona Natural Products, Ayujoy Herbals Ltd., Bactolac Pharmaceutical, Inc., BASF SE, Bio-Botanica by Bio Answer Holdings Inc., BL Bio Lab, LLC, Blackmores Limited by Kirin Holdings Company, Limited, Botanic Healthcare Group, Dabur India Ltd., Fermentis Life Sciences Pvt. Ltd., Gaia Herbs, Inc., Glanbia Nutritionals, Inc., GNC Holdings, LLC, Herb Pharm, LLC, Herbalhills by Isha Agro Developers Pvt. Ltd.., Herbalife International India Pvt. Ltd., Himalaya Wellness Company, Kerry Group PLC, Koninklijke DSM N.V., Lupin Limited, MB-Holding GmbH & Co. KG, Nature's Way Brands, LLC, Nestlé S.A., Nutraceutical Corporation, Organic India Pvt. Ltd., Procter & Gamble Company, Prorganiq, Rainbow Light by Renew Life Formulas, LLC, Ricola Group AG, SMPNutra.com, Streamline Pharma Pvt. Ltd., and Super Me Naturals.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Botanical Supplements Market, by Source
7. Botanical Supplements Market, by Age-Group
8. Botanical Supplements Market, by Form
9. Botanical Supplements Market, by Application
10. Botanical Supplements Market, by Distribution Channel
11. Americas Botanical Supplements Market
12. Asia-Pacific Botanical Supplements Market
13. Europe, Middle East & Africa Botanical Supplements Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Botanical Supplements Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Botanical Supplements Market?
3. What is the competitive strategic window for opportunities in the Botanical Supplements Market?
4. What are the technology trends and regulatory frameworks in the Botanical Supplements Market?
5. What is the market share of the leading vendors in the Botanical Supplements Market?
6. What modes and strategic moves are considered suitable for entering the Botanical Supplements Market?
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