The Botanical Supplements Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
The global botanical supplements market is projected to grow with a CAGR of 7.3% during the forecast period (2020 – 2025).
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Botanical Supplements Market: Nature’s Bounty Co, Himalaya Drug Company, Amway Corporation, GNC Holdings Inc
Key Market Trends
– The rise in general acceptance of herbal formulations among consumers under different demographics is expected to shape the future growth of supplements in the favor of botanicals. The awareness about the perceived health benefits of herbal supplements is very well established among millennials across both devloping as well as developed economies. The category is the target population segment for key herbal/botanical supplement companies.
– However, the lack of stringent norms and regulations pertaining to the safety and efficacy of botanical health supplement products is a factor expected to restrain the growth of the market globally. Owing to less emphasis on labeling and safety of these products, incidences of false health claims by manufacturers in order to market their products has increased significantly. For instance in In December 2016, Patanjali Ayurved (an India-based herbal supplement manufacturer) was fined USD 18,000 for misleading product advertisements.
Increasing Preference For Herbal Digestive Supplements and Botanicals
The substantial growth of herbal dietary supplements in the market is an indication of the surge in the popularity of the botanicals. According to NBJ (Nashville Business Journal) estimates in 2017, the retail sales of herbal dietary supplements in United States accounted for signifacnt share in the total dietary supplements sales. This created a great opportunity for the digestive health manufacturers to capture the on-going demand for herbal supplements, by launching new products in the market, and gain competitive advantage.? The rise in the general acceptance of herbal formulation among consumers under different demographics, with increasing expenditure on preventive healthcare products, is expected to shape the future growth of digestive supplements in favor of botanicals. Furthermore, the greater push for organic, vegan, and non-GMO products drives the sales of herbal supplements in the market.
North America Held a Significant Share In The Market
The usage of dietary supplements has grown significantly in the North American coutries like United States since the past decade or so. Notably, in 2018, 75% of adults in the United States had consumed dietary supplements which is an increase of 10% in the past decade. Thus the increasing consumption of dietary supplements coupled with incresaing awareness regarding supplements infused with botnaical extracts is the major factor driving the market studied in the region. Trend of alt-medicine is expected to deliver significant revenue growth for herbal supplement manufacturers, as consumer perspective is anticipated to change, followed by a strong dependency on private label brands, apart from the national brands. Retailers, like Walmart and Costco, are also fueling the trend by continuing to enhance their own private label offerings through new branding and formulations, improved packaging, and in-store consumer education.? Some of the companies offering herbal digestive health supplements in United States include SCD Probiotics, Flora Inc., Renew Life Formulas Inc., and Now Foods . Innovation in the supplement division is a key factor in enabling the growth of the herbal segment. For instance, Now Foods (United States based company) offers a variety of botanical products, including plant enzyme veg capsules and papaya enzyme lozenges.
Influence Of The Botanical Supplements Market Report:
-Comprehensive assessment of all opportunities and risk in the Botanical Supplements market.
– Botanical Supplements market recent innovations and major events.
-A detailed study of business strategies for growth of the Botanical Supplements market-leading players.
-Conclusive study about the growth plot of Botanical Supplements market for forthcoming years.
-In-depth understanding of Botanical Supplements market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Botanical Supplements market.
The report has 150 tables and figures browse the report description and TOC:
What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on regional scale.
Analytical Tools: The Botanical Supplements Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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