Global Botanical Supplements Market Size, Trends & Analysis with COVID-19 Impact - Forecasts to 2026 By Form (Capsules &Gummies, Powdered Supplements, Drinks & Shots, Other forms), By Distribution Channel (Pharmacies/ Drug store, Online Retail Stores, Supermarket/Hypermarket, Health Stores, Other Channels), By Region (North America, Asia-Pacific, Middle East & Africa, CSA, Europe), End-User Landscape and Company Market Share Analysis and Competitor Analysis
Botanical Supplements Market Insights
The botanical supplements market is expected to move towards an upward path during the forecast period. Botanicals as plants have therapeutic and medicinal properties or they are used for either fragrance or flavors. Also, the botanical dietary supplements and the use of herbal supplements is implied in treating internal injuries, diseases, and to maintain health. Botanical dietary supplements are low in cost in contrast to prescription drugs. The lack of regulation may pose a threat to the botanical supplements market. These supplements are available without a prescription and are believed to be effective. The botanical dietary supplement sector is driven by the rising boomer generation, increase in the self-sufficiency, and rapid advancement in the linkage between the disease and diet. The USA market presents a ready and rising market for botanical supplements.
Botanical Supplements Market: By Form
Based on the form, the market takes into account powdered supplements, gummies & capsules, drink &shots, and others. The powdered supplements segment would grow in an upward direction in this market. They are free of additives and also do not contain carrier agents. The common example of powders includes turmeric. Protein supplements also are a common type of powders used in the workout regime. Customer’s positive view of the powder supplements helps the segment to grow further in the market. The drinks & shots segment would grow moderately in this market. A growing number of market players for the product and their easy accessibility will lead to high market demand for the segment.
Botanical Supplements Market: By distribution channel
Based on the distribution channel, the market takes into account online retails stores, pharmacies/drug stores, health stores, and others. The pharmacies/drug stores segment would grow upwardly during the forecast period. They take into all form types and also sell as per the customer’s needs and requirements. It is easy to access the supplements from the pharmacies and also at least more than 1 brand is available at the drug stores which makes the market for botanical supplements more attractive. The health stores too would take into account the needs and contribute positively to the market’s growth. They would support the sale of dietary supplements also leading to better market opportunities.
Botanical Supplements Market: By Region
As per the region analysis, North America would lead the market towards greater demand opportunities. Large consumer base, high consumption of herbal and dietary supplements, and sale of FDA regulated dietary supplements in the region is expected to lead to high market demand during the forecast period. Asia-Pacific also represents abundant opportunities in the market given the rise of market players supplying herbal supplements.
Market Share and Competitive Analysis
Some of the key players operating in the market include Vitakem, Herb Pharm, Vitality Works, Vox Nutrition, Private Label Supplements, Bi Nutraceuticals, Natural Supplements, Pharma Nord, Blue Sky Botanics Ltd, Ransom Natural Ltd, Indian Drugs & Botanical Herbs Co, Natur Krauter, Herbadiet, Surya Herbal Limited, and Biolife Technologies among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In July 2020, OHSU laid the foundation for the research center dedicated to the botanical dietary supplements.
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The Global Botanical Supplements Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Botanical Supplements Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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