Industry Background:
The rising inclination towards natural products, awareness regarding preventive healthcare, and surging spending on health and wellness will help to boost the global Botanical Supplements market. The rise in the general acceptance of herbal formulations among consumers under different demographics is expected to shape the future growth of supplements in favor of botanicals. The awareness about the perceived health benefits of herbal supplements is very well established among millennials across both developing as well as developed economies. The growing geriatric population coupled with the rising prevalence of chronic conditions is also fueling the demand for Botanical Supplements across the globe.
According to AMA, the market for Botanical Supplements is expected to register a CAGR of 7.3% during the forecast period to 2026. This growth is primarily driven by Increasing health awareness and The growing self-medication behavior among consumers.
Globally, a noticeable market trend is evident Increasing lifestyle diseases boosting the global botanical supplements market
. The Health Care Supplies sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Nature's Bounty Co (United States), Himalaya Drug Company (India), Amway Corporation (United States), GNC Holdings Inc.(United States), NOW Foods (United States), Dr. Willmar Schwabe GmbH & Co. KG (Germany), Gaia Herbs, LLC (United States), Nutraceutical International Corporation (United States), Blackmores Limited (Australia) and Herbalife International (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Increasing health awareness
- The growing self-medication behavior among consumers
Market Trend
- Increasing lifestyle diseases boosting the global botanical supplements market
- Increasing adoption of botanical supplements by the geriatric population bodes
Restraints
- Lack of regulatory checks lead to false health claims
Opportunities
Strengthening of safety norms presents a significant opportunity for players and Increasing Preference For Herbal Digestive Supplements and Botanicals
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Botanical Supplements Study Sheds Light on
The Botanical Supplements Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Botanical Supplements industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Botanical Supplements industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.