Botanical Supplements Market Size Worth $ 68.73 Billion By 2032 | CAGR: 7.6%

The global botanical supplements market size is expected to reach USD 68.73 billion by 2032, according to a new study by Polaris Market Research. The report “Global Botanical Supplements Market Size, Share, Trends, Industry Analysis Report: By Source, By Form, By Distribution Channel, By End-Use, By Application, and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) – Market Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The botanical supplements market is witnessing significant growth owing to the rising working population, which is facing challenges in meeting their daily nutrient requirements due to busy work schedules and changing lifestyles. Botanical supplements offer a convenient solution by providing instant nutrition to the body, addressing the growing health consciousness among consumers.

The increasing awareness of preventive healthcare has encouraged consumers to seek health-enhancing botanical supplements. This has resulted in a move towards personalized healthcare approaches for addressing common metabolic issues. Ongoing research and development efforts are being made to analyze and study the properties of botanicals in order to enhance their therapeutic value and incorporate them into new product formulations.

For instance, in July 2020, a research center led by UC Santa Cruz received a $5 million grant from the National Institutes of Health (NIH) to delve into the cellular and molecular mechanisms of botanical supplements to enhance their therapeutic value and groundwork for conducting clinical trials for new product development to meet the rising demand for botanical supplements from consumers.

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In recent years, technological advancements have led to the development of applications that enable consumers, patients, healthcare professionals, and others to easily access information on the scientific research behind commonly used herbs and botanical supplements such as kava, acai, ginkgo, turmeric, and over 50 other products promoted for their health benefits. Users are retrieving details about potential safety issues, adverse reactions, and interactions between herbs and drugs. They also have access to further resources for in-depth information regarding botanical supplements. For instance, the National Institutes of Health's National Center for Complementary and Integrative Health introduced HerbList, an application designed to provide research-based details on the safety and efficacy of herbal products, including botanical supplements. Thus, rising awareness among consumers about botanical supplements drive the growth of market revenue.

Botanical Supplements Market Report Highlights

• The tablets segment dominated the market owing to the increased consumer preference for tablets due to their convenience and ease of consumption.
• The energy & weight management category dominated the market owing to the sedentary lifestyles giving rise to health issues such as diabetes, gastrointestinal disorders, cancer, and chronic diseases.
• The North American region dominated the market owing to increased awareness among consumers and businesses regarding the preventive health and immunity-boosting properties of botanical supplements for managing health risks.
• The Asia-Pacific region is expected to grow at the fastest CAGR as it is a major hub for herb production and exportation worldwide to meet the rising demand for medicinal and herbal components from manufacturers.
• The global key market players include Amway Corporation, BASF SE, Blackmores Limited, Botanicalife International of America, Inc., Dabur India, GNC Holdings Inc., Himalaya Wellness, Nature's Bounty Co., Nutraceutical International Company, and P&G Health.

Polaris Market Research has segmented the botanical supplements market report based on source, form, distribution channel, end-use, application, and region:

Botanical Supplements, Source Outlook (Revenue - USD billion, 2019 - 2032)

• Herbs
• Leaves
• Spices
• Flowers
• Others

Botanical Supplements, Form Outlook (Revenue - USD billion, 2019 - 2032)

• Powder
• Liquid
• Tablets
• Capsules
• Gummies
• Others

Botanical Supplements, Distribution Channel Outlook (Revenue - USD billion, 2019 - 2032)

• Hypermarket/ Supermarket
• Online Retail Stores
• Drug Stores/Pharmacies
• Health Stores

Botanical Supplements, End-Use Outlook (Revenue - USD billion, 2019 - 2032)

• OTC
• Prescribed

Botanical Supplements, Application Outlook (Revenue - USD billion, 2019 - 2032)

• Energy & Weight Management
• General Health
• Bone & Joint Health
• Gastrointestinal Health
• Immunity
• Cardiac Health
• Diabetes
• Anti-cancer
• Others

Botanical Supplements, Regional Outlook (Revenue - USD billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Australia
• Vietnam
• Malaysia
• Rest of Asia Pacific

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of Middle East & Africa

Botanical Supplements Report Scope: