Botanical Extracts Dietary Supplements Market Analysis Current Landscape and Future Outlook 2024

According to Precision Business Insights (PBI), the latest report, the market of the Botanical Extracts Dietary Supplements Market was valued at USD 3,197.5 million in 2023 which is expected to grow at a CAGR of 6.7% over 2024-2030. The primary factors that drive the market are the growing consumer demand for convenience foods, growing knowledge of the advantages of herbal products over synthetic ones, rising interest in using botanical extracts in food and other applications, and rising health and wellness trends are some of the key factors anticipated to increase demand for botanical extracts.

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THE BOTANICAL EXTRACTS DIETARY SUPPLEMENTS MARKET DETAILED SEGMENTATION:
Based On the Source Type, The Market is Segmented into the Following:
• Herbs
• Leaves
• Spices
• Others

Based On Form, The Market is Segmented into the Following:
• Powder
• Liquid
• Tablets
• Capsules
• Others

Based On Application, The Market is Segmented into the Following:
• Energy & Weight Management
• General Health
• Bone and Joint Health
• Gastrointestinal Health
• Diabetes
• Immunity
• Cardiac Health
• Others

Based On Distribution Channel, The Market is Segmented into the Following:
• Supermarket/ Hypermarket
• Pharmacies/Drug Stores
• Online Retail Stores
• Others

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Based on form, the powder category is anticipated to hold the biggest market share for botanical extracts worldwide. The significant market share is mostly attributable to powder's expanding use in a variety of products, including food, drinks, and cosmetics, as well as its superior health properties compared to other forms. These extracts also have a longer shelf life than liquid forms and are significantly more stable. These advantages would increase demand for the powdered portion of the market.

Based On Geography, The Market is Segmented into the Following:
• North America
• Europe
• Asia-Pacific
• Middle East and Asia
• Latin America

Europe leads the global botanical extracts dietary supplements market which has grown due to the working population's struggles to achieve their daily nutrient needs because of demanding work schedules and evolving lifestyles. While consumers in the region are becoming increasingly concerned about their diets and health, supplements provide the body's immediate nutritional needs and are hassle-free. Additionally, people are turning to botanical supplements that promote health because of growing awareness of preventative healthcare. This prompted people in the area to invest in preventive goods and services to manage less severe metabolic diseases, resulting in the adoption of a tailored approach to healthcare.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global botanical extracts dietary supplements market further reveals that the key players are implementing strategies such as the extension of product collection through research and development activities, product launches, acquisitions, mergers, and strategic alliances to improve their market position and strengthen the market revenue share. In 2021, Manipal group, India based ingredient supplier are specialized in botanical extracts and functional food and beverages ingredients announced that they will launch a new nutraceutical and herbal extracts manufacturing facility on February 6th, 2021. The facility will have a square foot area of 100,000 square feet and the ability to process 30 metric tons of herbal products daily.

Key players in the Botanical Extracts Dietary Supplements Market are Gaia Herbs, Bio-Botanica Inc., Nature's Bounty Co., Dabur, Blue Sky Botanics, Ransom Naturals Ltd, Prinova Group, NOW Foods, Amway Corporation, Ricola AG, Layn Natural Ingredients, and Eevia Health

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This release was published on openPR.