Global Botanical Supplement Market is expected to register a CAGR of approx. 8% over the period of 2022-2028 UnivDatos Market Insights

NOIDA, UP, INDIA, November 28, 2022 /EINPresswire.com/ -- Global Botanical Supplement Market is expected to register a CAGR of approx. 8% over the period of 2022-2028. The botanical supplements market is rising due to government funding for research and development in botanical supplements around the globe. For instance, in June 2020, The National Institutes of Health awarded US$ 6 million to Oregon Health & Science University to establish a research center for botanical dietary supplements. Owing to these glaring statistics the demand for botanical supplements is anticipated to grow in the forthcoming years as they are safe as supplements. According to UnivDatos Market Insights (UMI)’ research report “global botanical supplements market”, the market is expected to witness a robust growth during the forecast period 2022-2028F. Moreover, several innovations in the nutritional supplements sector are fueling the demand for the botanical supplements market. Furthermore, the development of personalized botanical supplements is expected to drive the market for botanical supplements market in the coming years.

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Based on the forms, the botanical supplements market is segmented into herbs, leaves, spices, flowers, and others. The leaves segment accounted for a significant market share and it is estimated that it will grow rapidly during the projected timeframe. The shift in lifestyles and the growing trend of exploring and experiencing novel foods have led to the growth in the demand for leave-based botanical supplements.

Based on the end-users, the market is fragmented into offline and online. The offline segment grabbed a considerable market share, and it is expected to grow at a significant CAGR during the forecast period. owing to the growing prevalence of self-medication for the treatment of significant health conditions and the rising demand for herbal supplements in daily consumption has offered momentum to the growth of the offline segment.

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North America witnessed extensive growth

For a better understanding of the market adoption of the botanical supplements market, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the botanical supplements industry owing to the increasing awareness regarding supplements infused with botanical ingredients, coupled with the growing consumption of dietary supplements.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global botanical supplements market are Dabur India Ltd, The Bountiful Company, Ricola AG., Mondelēz International, Procter & Gamble Co, NUTRAMARKS INC, BASF SE, The Himalaya Drug Company, Botanicalife International of America Inc, Glanbia Nutritionals Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

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“Global Botanical Supplements Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

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Market Segmentations:

1. By Source (Herbs, Leaves, Spices, Flowers, Others)

2. By Forms (Powder, Liquid, Tablets, Capsules, Others)

3. By Application (Energy & Weight Management, General Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Anti-cancer)

4. By End-User (Offline, Online)

5. By Region (North America, Europe, Asia-Pacific, Rest of the World)

6. By Company (Dabur India Ltd, The Bountiful Company, Ricola AG., Mondelēz International, Procter & Gamble Co, NUTRAMARKS INC, BASF SE, The Himalaya Drug Company, Botanicalife International of America Inc, Glanbia Nutritionals)

Key questions answered in the study:

1. What are the current and future trends of the global botanical supplements industry?

2. How the industry has been evolving in terms of source, form, application, and end-users?

3. How the competition has been shaping across the countries followed by their comparative factorial indexing?

4. What are the key growth drivers and challenges for the global botanical supplements industry?

5. What is the customer orientation, purchase behavior, and expectations from the global botanical supplements suppliers across various region and countries?

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Ankita Gupta
UnivDatos Market Insights (UMI)
+91 97176 88269
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