Botanical Supplements Market to Witness a CAGR of 8% (2022-2028) Driven by Growing Acceptance of Herbal Formulations Among Consumers | UnivDatos Market Overview

NOIDA, India, November 25, 2022 /PRNewswire/ — According to a new report published by UnivDatos Markets Insights, the Botanical supplements The market was valued at $40 billion in 2020 and is expected to grow at a CAGR of around 8% from 2022 to 2028. The analysis was segmented into Source (Herbs, Leaves, Spices, Flowers, Others); Form (Powder, Liquid, Tablets, Capsules, Others); Application (Energy and Weight Management, General Health, Bone and Joint Health, Gastrointestinal Health, Immunity, Anti-Cancer); End user (offline, online); Region/Country.

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The Botanical Supplements Market report has been aggregated by collecting informative data about various dynamics such as market drivers, restraints, and opportunities. This innovative report uses several analyzes to get a clearer view of the botanical supplements market. The Botanical Supplements Market report offers a detailed analysis of the latest industry developments and market trending factors that influence market growth. Additionally, this statistical market research repository examines and estimates the Botanical Supplements market globally and regionally.

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Market overview

The demand for the botanical supplements market is increasing owing to government funding for the research and development of botanical supplements all over the world. For example, in June 2020The National Institutes of Health rewarded $6 million at Oregon Health & Science University to establish a botanical dietary supplement research center. Due to these glaring statistics, the demand for botanical supplements is expected to increase in the coming years as they are safe as supplements. Additionally, several innovations in the nutritional supplement industry are fueling the demand for the botanical supplement market. Also, the development of personalized botanical supplements is expected to drive the botanical supplements market in the coming years.

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

Impact of COVID-19

The recent covid-19 pandemic has turned the world upside down and caused a state of shock in the global economy. COVID-19 has caused significant supply chain disruptions around the world, especially in 2020. The growing preference for a healthy and active lifestyle, combined with heightened immunity awareness as a result of the COVID-19 outbreak, is expected to drive product demand even higher. This will likely increase the market penetration of botanical ingredients.

The global Botanical Supplements market report is studied extensively with several aspects which would help the stakeholders to make their decisions more carefully.

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

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

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Geographical segmentation of the Botanical Supplements Market includes:

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

• Europe (Germany, UK, 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 standards on botanical supplements in the region is mainly due to the robust growth of highly regulated industries such as oil, gas and electricity.

Key players targeting the market include

Competitive landscape

The degree of competition between major global companies has been worked out by analyzing several key players operating across the globe. The specialized team of research analysts sheds 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 Botanical Supplements Market. Major players have been analyzed using research methodologies to get an overview of the global competition.

Key questions answered through this analytical market research report include:

• What are the latest trends, patterns, and technological advancements in the Botanical Supplements market?

• What factors are influencing the Botanical Supplements Market during the forecast period?

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

• What factors are driving and restraining the Botanical Supplements market?

• Which are the demanding global regions of the Botanical Supplements Market?

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

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

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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 information through market intelligence reports, custom business research and primary research. Our research studies are spread across topics across the globe, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis and custom reports that help shape winning business strategies for our clients.

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