DUBAI, United Arab Emirates, March 28, 2022 (GLOBE NEWSWIRE) -- The global Botanical Supplements Market is set to witness growth at a CAGR of 7.7% and top a valuation of US$ 116.7 Bn by 2032. Believed to have healing properties, botanical supplements have been used for many centuries. These are basically ingredients derived from plants and their different parts such as roots, extract oils, berries, seeds, or flowers.
| Botanical Supplements Market Size Value in 2022 | US$ 55.6 Bn | |
| Botanical Supplements Market Forecast Value in 2032 | US$ 116.7 Bn | |
| Global Growth Rate (2022 to 2032) | ~7.7% CAGR | |
| Forecast Period | 2022-2032 | |
| Collective Value Share: Top 3 Countries (2021A) | 44.2% | |
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Medicinal purposes of botanical supplements derived from ginkgo helps improving memory. Likewise, Echinacea helps in cold prevention. Plants have been used for thousands of years for medicinal purposes. Botanical supplements, also known as phytomedicines, comes from different leaves, herbs, fruits, or roots, which are loaded with nutrients, vitamins, antioxidants, minerals, and all natural goodness enriched compounds.
All botanical supplements are valued highly for tremendous healing benefits with no side effects, being well tolerated by people allergic to prescription drugs components.
Botanical supplements can boost the immunity without causing any side effect and are proven effective in symptomatic relief related to allergies. Also, a key advantage of the product is its affordability, considering that these supplements are pocket-friendly, and available without an extra cost to prescription.
Blending is becoming a trend these days for manufacturers of botanical supplements to offer more varieties of products. Consumers on the other hand are leaning towards clean labeled products which can offer more functional attributes towards health.
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Scope of the Report
| Attribute | Details |
| Market Size Value in 2022 | US$ 55.6 Bn |
| Market Forecast Value in 2032 | US$ 116.7 Bn |
| Global Growth Rate | ~7.7% CAGR |
| Forecast Period | 2022-2032 |
| Historical Data Available for | 2017-2021 |
| Market Analysis | MT for Volume and US$ Bn for Value |
| Key Regions Covered | North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, Chile, Peru, Germany, France, Italy, Spain, UK, Netherlands, Belgium, Nordic, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, North Africa, and others |
| Key Market Segments Covered | Source, Form, Distribution Channel, Application, and Regions |
| Key Companies Profiled | • Glanbia plc • BASF SE • Archer Daniels Midland Company • Naturex SA (Givaudan) • Amway Corporation • The Bountiful Company (Nestlé) • Now Foods • Dabur India Limited • Himalaya Wellness Company • Others |
| Pricing | Available upon Request |
Key Takeaways from Market Study
- The botanical supplements market is worth of US$ 55.6 Bn sales in 2022.
- The market is expected to expand at a CAGR of 7.7% through 2032.
- Demand for botanical supplements demand is projected to grow year-on-year (Y-o-Y) growth of 7.3% in 2022.
- Glanbia plc, BASF SE, Archer Daniels Midland Company, Amway Corporation, and Naturex SA are expected to be the top players in the industry.
- Botanical supplements sourced from vegetables and fruits are often sold in powdered form. Besides this, surge in their online availability will aid overall market growth.
- Sports nutrition is expected to remain the leading category in terms of application within the market.
“Besides focus on a healthy lifestyle, consumers’ inclination for clean label supplements has been aiding the botanical supplements market growth. The trend will continue as more manufacturers launch unique combination of botanical supplements to offer improved functionality and strengthen their global footprint,” says a Future Market Insights analyst.
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Competitive Landscape
Key botanical supplements brands are focusing on sustainable product developments across food, pharmaceuticals, and cosmetics industry, while extending the product portfolio with extensive research procedures and several modifications, as consumer focus is shifting from improved nutritional profile of the product to increased sustainability and cleaner label items.
- On 30th April 2021, Nestlé announced to acquire The Bountiful Company core brands, to expand health and nutrition portfolio while entering into an US$ 5.75 Bn agreement. The acquisition includes high-growth brands of The Bountiful Company - Solgar®, Nature's Bounty®, Puritan’s Pride®, and Osteo Bi-Flex® along with its US private label business. All brands will be incorporated into Nestlé Health Science product portfolio, to create a global leader in nutritional supplements, vitamins, and minerals.
- Prorganiq, a natural herbal and botanical brand, has launched a new premium herbal supplements range on 27th January 2021 to ensure consumers with the wholesome goodness of herbs contained products manufactured in FSSAI registered and GMP approved facilities. The new potent and pure Prorganiq herbal supplements focuses on empowering overall health precisely and helping to build better body through all-natural means with herbs and medicinal ingredients.
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