Supplements are generally those products that are utilized to enhance or support any kind of insufficiency in the human body. It is usually taken in the form of pills, capsules, powder, liquid, soft gels, or tea bags. These are generally extracted from herbal or botanical sources. Botanical supplements are generally utilized to treat a range of mental and physical ailments. The usage of botanical supplements is higher among women as compared to men and is increasing with age and education.
The global market for botanical supplements is expanding at a rapid pace and is expected to achieve substantial growth over the period 2016–2023. An increase in work pressure, along with a busy schedule, has led to unhealthy eating habits, which is creating a significant demand for botanical supplements all across the globe.
At present, the Europe region captured the maximum share in revenue from the botanical supplements market and is anticipated to dominate over the forecast period. Influence of people with their peer group, family, neighbors, magazines, and endorsement by celebrities, along with escalating disposable income, is anticipated to expand the growth of the botanical supplement market in North America and Asia Pacific during the forecast period.
The global market for botanical supplements is mainly concentrated in Europe. Major players are adopting different market strategies to enter and enhance their market position and distribution network.
The global market for botanical supplements is segmented on the following bases:
- Personal Care
- Food and Beverages
By Sales Channel
- Departmental Store
- Beauty Outlets
- Pharmacy Store
- Online Store
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Key players identified across the value chain in the botanical supplements market include but are not limited to:
Dabur India, NBTY Inc., Ricola AG, Mondelez International, Procter & Gamble, Nutraceutical International Company, BASF SE, The Himalaya Drug Company, and others
This report offers the following:
- An overview of the global botanical supplements market
- Market trends assessment for the period 2016-2023, with historical information for 2013 and 2014 and projections through 2023, with respective CAGRs during 2016-2023 and 2015 as the base year
- Qualitative assessment tools such as market drivers, challenges, and future prospects, and competitive analysis: market positioning of key market players
- Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics.
- A general overview of the industry structure
- Company profiles highlighting key information about the major players operating in the global botanical supplements market,
- This report includes an estimation of market sizes for value. Both top-down and bottom-up approaches have been used to estimate and validate the size of the Botanical Supplements Market.