Press release
Global Botanical Supplements Market on Track to Reach $90.2 Billion in 2020
According to a new market report published by Persistence Market Research “Global Market Study on Botanical Supplements: Personal Care Segment To Witness Highest Growth by 2020,” the global Botanical Supplements market was valued at USD 54.6 billion in 2013 and is expected to grow at a CAGR of 7.5% from 2014 to 2020, to reach an estimated value of USD 90.2 million in 2020.Request to view Table of Content @ http://www.persistencemarketresearch.com/market-research/botanical-supplements-market/toc
Interest in healthy eating is influencing consumers to shift their dietary preferences in favour of food and food ingredients with potential health benefits. For consumers looking for a healthy lifestyle and seeking to reduce the risk of illness, herbal and botanical supplements (popularly known as herbal medicinal products) are among the best options.
Botanical supplements include fresh or dried products in different forms, such as tablets, capsules, powders, and tea bags. Globally, garlic, ginger, santalum, plantago, ginseng, rhodiola extract, red clover extract, and soy extract are some of the most widely used botanical supplements. Increasing elderly population and little or no side effects of botanical supplements are expected to drive the global botanical supplements market. According to the Population Division of the United Nations Department of Economic and Social Affairs (UN-DESA), there were 841 million people aged 60 and above in 2013 compared to 205 million in 1950. The number is projected to reach over 2 billion by 2050.
In the last few years, Europe has emerged as the largest market for botanical supplements, followed by Asia Pacific. In Asia Pacific, the long-standing tradition of using botanical medicine, the current economic development, and increasing urbanization are some factors driving the increasing demand for botanical supplements. Owing to these factors, Asia Pacific is expected to surpass Europe as the leading market for botanical supplements. The botanical supplements market is bifurcated into application (food and beverages, pharmaceutical, and personal care) and end user (adult women, adult men, baby boomers, and others).
The global market for botanical supplements in value term grew from USD 45.1 billion in 2010 to USD 54.6 billion in 2013, and is expected to grow to USD 90.2 billion in 2020 growing at a CAGR of 7.5%. Also, Usage of botanical supplements by adult women (largest end user in 2013) is projected to increase to USD 32.9 billion in 2020 at a CAGR of 7.5%.
Sample of this report is available upon request @ http://www.persistencemarketresearch.com/samples/2797
The botanical supplements market is fragmented with several players operating at global or regional levels. The global botanical supplements market is highly fragmented, with top eight companies holding only 38.4% market share. Ricola leads the market with 6.4% global share in 2013, followed by Dabur with 5.5% market share. Ricola and Procter & Gamble are some of the major companies with global operations. Dabur operates mostly in India; however, the company started selling its products in the North American and European countries, such as the U.S., France, Germany and the U.K., recently.
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The Botanical Supplements market is segmented as follows:
Botanical Supplements Market, by application
Food and beverage
Pharmaceutical
Personal care
Botanical Supplements Market, by end-users
Adult women
Adult men
Baby boomers
Others
Botanical Supplements Market, by Region
North America
The U.S.
Europe
Germany
France
Italy
The U.K.
Asia Pacific
India
China
Japan
Rest of the World (ROW)
The Botanical Supplements market for each region includes:
Market Overview
Market Size, by application and end-user, by value (Historic and Forecast)
About Us
Persistence Market Research (PMR) is a full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients business needs.
PMR stands committed to bringing more accuracy and speed to clients business decisions. From ready-to-purchase market research reports to customized research solutions, PMRs engagement models are highly flexible without compromising on its deep-seated research values.
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