Botanical Supplements Market Growth to be Impelled by a Robust CAGR throughout 2029 Owing to the Growing Preference for Herbal Products Globally
The botanical supplements market is estimated to occupy a large revenue by growing at a notable CAGR during the forecast period, i.e., 2021 – 2029,
Research Nester published a report titled “Botanical SupplementsMarket: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of theglobalbotanical supplements marketin terms of market segmentation by type, capacity, drug type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The botanical supplements market is estimated to occupy a large revenue by growing at a notable CAGR during the forecast period, i.e., 2021 – 2029, owing to the rising consciousness about the health benefits of herbal supplements and increasing healthcare spending in developed nations. Apart from these, growing consumption of weight loss and energy drinks worldwide is also expected to drive market growth.
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The global botanical supplements market is segmented by form, application and distribution channel. Based on form, the segment for capsules is anticipated to grab the largest market share during the forecast period on the back of increasing inclination towards tablets and capsules resulting from their ease of consumption. Furthermore, on the basis of application, the personal care segment is projected to occupy the largest market share, which can be credited to the growing trend of healthy diet and weight loss program among adults.
Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. North America region is evaluated to grab the largest share in the market during the forecast period attributing to the growing awareness about herbal foods in the region. Moreover, the market in Europe is assessed to grow by the highest rate in the future owing to the rising healthcare expenditure and intensifying adoption of natural products in the region.
Rising Awareness about Herbal Supplements to Drive Market Growth
The growing health consciousness of people around the world is anticipated to create lucrative opportunities for health manufacturers to launch supplements with herbal extracts to cater to the changing consumer needs.Furthermore, the growing trend for organic and vegan food is also assessed to boost the demand for botanical supplements in the near future.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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However, lack of stringent regulation regarding safety of herbal supplements is expected to operate as key restraint to the growth of the botanical supplements market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global Botanical Supplements market which includes company profiling of Himalaya Herbal Healthcare, NOW Health Group, Inc., Amway Corp. (KLSE: AMWAY), The Bountiful Company, GNC Holdings, LLC, Nature's Way Products, LLC, Gaia Herbs, Inc., Jarrow Formulas, Inc, Solgar Inc., Ricola Group AG, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Botanical Supplements market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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