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Redding, California - October 24, 2024

Botanical Supplements Market to Reach $81.6 Billion by 2031

Botanical Supplements Market Size, Share, Forecast, & Trends Analysis by Source (Spices, Herbs, Fruits), Form (Tablets, Powder), Application (Energy, Weight Management, Immunity), Distribution Channel (Pharmacies, Online Retail) - Global Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled ‘Botanical Supplements Market—Global Opportunity Analysis and Industry Forecast (2024-2031)’. According to this latest publication, the botanical supplements market is expected to reach $81.6 billion by 2031, at a CAGR of 6.9% of 2024-2031.

The botanical supplements market is experiencing growth driven by several factors, including rising health expenditures, an increasing vegan and vegetarian population, growing demand for natural or organic supplements, and increased product innovation among various botanical supplement manufacturers. However, issues such as the high cost of products and the widespread availability of substitutes may hinder market growth.

In addition, growing awareness of health and wellness and the emergence of developing countries create growth opportunities for market players. The market faces substantial challenges, including fluctuation in raw material availability and stringent regulation. Moreover, a prominent trend in the botanical supplements market is the rising adoption of clean-label products.

Key Players:

The botanical supplements market is characterized by a moderately competitive scenario due to the presence of many large- and small-sized global, regional, and local players. The key players operating in the Botanical Supplements market are Dabur India Limited (India), Nature’s Bounty (U.S.), Ricola AG. (Switzerland), Mondelēz International, Inc. (U.S.), The Procter & Gamble Company (U.S.), Nutraceutical International Corporation (U.S.), BASF SE (Germany), The Himalaya Drug Company (India), Glanbia plc (Ireland), Botanicalife International of America, Inc. (U.S.), Blackmores Limited (Australia), Amway Corp. (U.S.), and GNC Holdings Inc. (U.S.).

The botanical supplements market is segmented based on source, form, application, and distribution channel. The report also evaluates industry competitors and analyzes the botanical supplements market at the regional and country levels.

Among the sources studied in this report, the spices segment is anticipated to dominate the botanical supplements market in 2024. This segment holds a large market share primarily due to its popularity, attributed to numerous health benefits and potent bioactive ingredients. Many spices offer antioxidant, anti-inflammatory, and antibacterial effects. For example, turmeric is a key spice commonly used in various products because of its curcumin content, which has strong anti-inflammatory properties and may play a role in the treatment of several diseases, including cancer.

Among the forms studied in this report, the tablets segment is anticipated to dominate the botanical supplements market in 2024. This large market share is attributed to strong consumer preference for tablets, which are favored for their convenience, ease of consumption, and availability in various dosages. Additionally, advancements in production technology for tablet formation and the increasing range of tablet-form products offered by various manufacturers are expected to further drive market growth.

Among the applications studied in this report, the energy & weight management segment is anticipated to dominate the botanical supplements market in 2024. The large market share of this segment is attributed to the increasing prevalence of cardiovascular diseases, diabetes, and obesity. This rise in health issues has led to greater participation in physical activities and weight loss programs, further driving the adoption of botanical supplements. These supplements, including garcinia cambogia, green tea extract, cayenne pepper, aloe vera, and senna, aid in appetite suppression, fat storage inhibition, metabolic rate enhancement, and fat oxidation. Additionally, ginseng, sage, and guarana-based supplements boost physical stamina, reduce fatigue, alleviate stress-related tiredness, and enhance energy levels.

Among the distribution channels studied in this report, the drug stores/pharmacies segment is anticipated to dominate the botanical supplements market in 2024. This segment's large market share is attributed to the widespread availability of specialized drug stores and pharmacies in specific areas, providing convenience for the geriatric population. These outlets facilitate access to professional advice, helping consumers make informed purchasing decisions. Additionally, this channel features reputable brands that comply with safety and quality standards, addressing concerns about counterfeit products, which further boosts market growth.

This research report analyzes major geographies and provides a comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, Poland, Netherlands, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, and Rest of Asia-Pacific), Latin America (Brazil, Mexico, Argentina, and Rest of Latin America), and the Middle East & Africa (Saudi Arabia, South Africa, UAE, and Rest of Middle East & Africa).

Among the geographies studied in this report, North America is anticipated to dominate the botanical supplements market in 2024, followed by Asia-Pacific, Europe, Latin America, and the Middle East & Africa. The large share of this regional market is attributed to several factors, including increased awareness of health and well-being, the increasing prevalence of various chronic conditions, a rise in the use of dietary supplements, a growing preference for natural and organic options, and advancements in nutrition and technology.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=6053

Key Questions Answered in the Report-

What is the value of revenue generated by the sale of botanical supplements?
At what rate is the global demand for botanical supplements projected to grow for the next five to seven years?
What is the historical market size and growth rate for the botanical supplements market?
What are the major factors impacting the growth of this market at global and regional levels?
What are the major opportunities for existing players and new entrants in the market?
Which source, form, application, and distribution channel segments create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the botanical supplements market?
Who are the major players in the botanical supplements market? What are their specific product offerings in this market?
What recent developments have taken place in the botanical supplements market? What impact have these strategic developments created on the market?

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Redding, California - October 24, 2024

Botanical Supplements Market to Reach $81.6 Billion by 2031

Botanical Supplements Market Size, Share, Forecast, & Trends Analysis by Source (Spices, Herbs, Fruits), Form (Tablets, Powder), Application (Energy, Weight Management, Immunity), Distribution Channel (Pharmacies, Online Retail) - Global Forecast to 2031

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