Botanical supplements fall under dietary
ingredients that are prepared using plants or plant parts. These
supplements are valued for their medicinal or therapeutic properties
as well as flavor and scent. Manufacturers are laying emphases on
launching products with new and unique flavors. The focus is on
introducing products that offer various health benefits in order to
sway consumers who are highly health conscious. Persistence Market
Research (PMR) in its report titled “Botanical Supplements Market:
Global Industry Analysis and Forecast, 2017–2025” has offered a
detailed analysis of the global botanical supplements market.
Consumers often look for dietary
supplements that can offer holistic benefits when consumed rather
than any specific benefits. Hence, many of the food brands are now
offering products that contain botanical supplements owing to their
holistic properties. This, in turn, is expected to drive the demand
for botanical supplements to a certain extent. Moreover,
manufacturers are also concentrating on developing customized
products in an attempt to create exclusivity. Also, liberal
regulations for manufacturing of botanical supplements encourage
market players to experiment with their existing products, as they
are not under any serious obligation to provide efficacy data.
Liberal regulations pertaining to herbal/botanical supplements has
led to the introduction of more products over the years.
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As per PMR’s study, the global
botanical supplement market is projected to reach a valuation of US$
37,950 Mn by 2017-end. In terms of revenue, the market is set to
witness a CAGR of 6.9% during the forecast period. Factors such as
inclination of consumers towards naturally derived products and
increasing health awareness will be majorly accountable for this
growth.
Among regions, Europe is the largest
market for botanical supplements, followed by North America. In 2016,
the market in Europe stood at around US$ 11,385 Mn. Meanwhile, in
Asia Pacific, countries such as China and India will continue to
represent lucrative market opportunities. Manufacturers in this
region are generating significant sales revenue from selling new
botanical supplements. Towards the end of 2025, the market in Asia
Pacific is estimated to reach a valuation of US$ 16,926.6 Mn,
reflecting a CAGR of more than 6%.
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PMR in its report has profiled some of
the leading companies operating in the global market for botanical
supplements, which include Amway corporation, Nutraceutical
International Corporation, Blackmores Limited, Naturex SA, The
Nature's Bounty Co., Herbalife International, The Himalaya Drug
Company,
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Bio-Botanica, Inc., Dabur India Limited,
Integria Healthcare Pty Ltd., Nature’s Way Products, LLC., The
Bioforce Group, Ricola AG, Bionorica SE, Biovontade Sarl, Bio Tae
Extratos Vegetais Ltda., The Patanjali Ayurved Limited, Jiaherb Inc.,
Nutra Green Biotechnology Co. Ltd, Medico Herbs, Phytomed Herbal
Solutions.
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