Global Botanical Supplements Market: Overview
Chemical based nutraceuticals are often associated with side-effects. And, thus there is a shift noticed a shift towards botanical supplements, the market for which is set to chart a significant growth curve between 2018 and 2028, owing to an impressive CAGR (Compound Annual Growth Rate).
Derived from roots, barks, fruits and vegetable of trees and plants, botanical supplements are perceived rich in nutrients – vitamins and minerals, helping the market for the same to witness high growth.
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Another factor that is contributing to growth in the market include brands getting active in terms of rising awareness through marketing initiatives such as campaigns and so on. Additionally, some come up with research studies and their findings into the public domain.
Global Botanical Supplements Market: Notable Development
The global botanical supplements market is rife with developments that are significant in terms of determining the market’s future and shaping its competitors’ landscape. Some of the prominent developments that have occurred are delineated below:
2017: In the March of the year, a new vegan protein was developed by MusclePharm Corporation. The series is called Natural. And, it goes without saying that vegan protein could grab the attention of a whole community of people who have given up on any animal based products. Another company – NBTY – has come up with flavoured protein powders based on plants. Some of the flavours include vanilla bean, dark cocoa, and mixed berry super fruits flavors.
The global botanical supplements market is fragmented. And, prominent players in the global botanical supplements market are The Archer Daniels Midland Company (ADM); Glanbia Nutritionals, Inc.; Botanicalife International of America, Inc.; Arizona Natural Products; Naturalife Asia Co., Ltd.; and Blackmores Limited, among others.
Global Botanical Supplements Market: Key trends and driver
The global botanical supplements market is riding on the back of numerous trends and drivers. Few of these are outlined below and a comprehensive analysis can be had from the upcoming report on the global botanical supplements market, prepared by Transparency Market Research (TMR).
- Rise in obesity is one of the biggest issues the world is facing and that is leading to growth in the global botanical supplements market. Among young adults, the prevalence of obesity is 35.7% and among middle-aged people, it is 42.8%. Awareness regarding use of certain herbs for weight loss is adding to this upward trajectory in a positive way. Part of this trend originates from growing popularity of indigenous medicine in China and India.
- Poor lifestyle is leading to poor dietary habits and that is leading to deficiency of essential vitamins and nutrients and that is propelling the global botanical supplements up significantly. Longer work days and rise of dual income families are primary reasons behind the low-nutrition diets. As employment brings with it hectic works and longer work days, the will to prepare elaborate means is waning away.
Global Botanical Supplements Market: Regional Analysis
Over the forecast period, the North American region will take away the biggest slice of the growth pie, owing to massive levels of obesity, rising awareness, and rise of veganism, which is a diet devoid of any animal based products. Besides, in countries like Mexico, more and more people are seeing growing popularity of nutraceuticals.
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The report is segmented into the following:
Segmentation by Source
- Fruits & Vegetables
Segmentation by Product
- Capsules & Tablets
Segmentation by Application
- Additional Nutrition
- Medicinal & Infant Nutrition
- Sports Nutrition
Segmentation by End-use
- Pregnant Women
Key players analyzed:
- Glanbia PLC
- Herbalife International of America, Inc.
- Blackmores Limited
- Nutraceutical International Corporation
- NBTY, Inc.
- Arizona Natural Products
- Ricola AG
- Naturalife Asia Co., Ltd.
- Bio-Botanica Inc.
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About TMR Research:
TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.