Botanical Supplements Market Size, Share & Trends Report

Botanical Supplements Market Size, Share & Trends Analysis Report By Source (Leaves, Flowers), By Form (Tablets, Liquid), By Application (Energy & Weight Management, Anti-cancer), By End-use, By Region, And Segment Forecasts, 2020 - 2027

  • Published Date: Oct, 2020
  • Base Year for Estimate: 2019
  • Report ID: GVR-4-68039-086-6
  • Format: Electronic (PDF)
  • Historical Data: 2016 - 2018
  • Number of Pages: 150

Report Overview

The global botanical supplements market size was valued at USD 27.85 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2020 to 2027. Increased innovation in manufacturing botanicals comprising a broad range of amino acids and targeting specified functions, including weight loss, energy balance, and muscle repair, by various producers is expected to create immense potential for growth in the market. Rising health consciousness increased concern over diet, and enhanced care towards preventive healthcare has made consumers turn towards health-imparting botanical supplements. Several manufacturers of botanical supplements come out with alternative therapies to relieve women from frequent problems, such as insomnia and hot flashes menopause. Herbal offerings such as fish oils, detoxes, and probiotic drinks and other herbal supplements are emerging as the most extensively used botanical supplements.

U.S. botanical supplements market size

According to a new survey conducted by Nutritional Outlook, prevention and immunity are major purchase drivers for botanical supplement users in the U.S. For instance, as immunity positioned fifth on the list of consumer demands in 2019, updated research following the COVID-19 pandemic observed that immunity moved to third place, after overall wellness/disease prevention and gut/digestive health.

Additionally, 61% of botanical supplement consumers in the U.S. state they increase their supplement usage to support immunity. Survey statistics depict that the pandemic encouraged dietary changes, with 44% of botanical supplement consumers in the U.S. stating that they shifted their diets to promote immune health.

The American Botanical Council stated that the sales of ashwagandha in 2018 grew in both the U.S. natural retail and mainstream channels. Moreover, ashwagandha was known as the seventh bestselling botanical supplement in the U.S. natural channel, growing 16.9% to $12.5 million. In addition, it has been among the 40 top-selling ingredients in natural and herbal retail stores since 2015.

Increasing consumer's openness to supplementation, the availability of world-class athletics and fitness infrastructure, high-income levels, and growing investment in the fitness sector is expected to drive the demand for botanical supplements. In addition, the abundant presence of major key players, including Glanbia, Blackmores Limited, and The Himalaya Drug Company, coupled with the presence of mass retailers, such as Walmart, is likely to fuel the product demand.

The global health and nutritional food market is brimming with ingredients that can aid in various aspects of athletic performance. Athletes seeking to power up their performance can look out these plant-based ingredients to benefit several aspects of their athletic training. Plant-based supplements are gaining significant share in the market against their animal-sourced counterparts.

Form Insights

Tablets led the market and accounted for 31.35% share of the global revenue in 2019. Growing consumers’ inclination toward tablets and capsules owing to their ease in consumption has led to the segment growth. Furthermore, significant growth of the pharmaceutical industry in emerging countries, such as China and India, has led to the demand for tablets in the botanical supplements industry.

Powder botanical supplements are anticipated to remain one of the major product segments as nutraceutical companies are spending on the production of energy-mix products for health and wellness applications. The gummies segment present considerable growth opportunities on account of being appetizing than any other traditional pills.

Powder forms are expected to witness considerable growth in the forthcoming years owing to the growing demand for energy-mix powders among bodybuilders and athletes. Furthermore, dietary product producers, including Amway, incorporated powder form products under the name, NUTRILITE, which can be consumed with drinks as well as milk products.

Gel caps and soft gels product forms are projected to find applications owing to their convenience preposition at retail stores. Moreover, granules and powders are other significant formulations in terms of industry size. Powder formulations are accessible in higher concentrations and have a maximum rate of absorption in relation to pills and other forms. Growing demand for botanical products, such as tea bags, in the granule form is also one of the major factors fueling the segment growth.

Application Insights

The energy and weight management application segment led the market and accounted for 23.60% share of the global revenue in 2019. This is attributed to the growing trend of online weight loss programs and government initiatives to promote a healthy diet. An alarming increase has been witnessed in the incidence of health problems, such as cardiovascular diseases, cancer, and diabetes, in developed economies in the last few years.

Sedentary lifestyles, rising disposable income, and change in food habits in Western Europe and North America increase the risk of developing health problems, such as cancer and diabetes. Therefore, an increase in the incidence of health disorders has fostered the adoption of energy and weight-management products. Moreover, a rise in fitness consciousness in emerging countries, such as India and China, owing to improvement in lifestyle is likely to offer lucrative business opportunities for the players operating in the global energy and weight management diet industry.

Growing cases of gastrointestinal disorders are also projected to contribute to industry growth. Furthermore, rising health consciousness is expected to encourage the utilization of plant-based protein supplements derived from spirulina and pumpkin seed. This trend will boost industry growth.

Moreover, increased consumer inclination toward the intake of botanical supplements has resulted in steady growth in the current years due to rising disposable income in emerging countries. With the growing working population and a rise in the prevalence of chronic diseases, consumers in the Asia Pacific region are willing to spend more on cardiac health botanical supplements. Therefore, this has resulted in the strong growth of the cardiac health supplements market, which is projected to fuel the industry growth during the forecast period.

End-use Insights

The OTC end-use segment led the market and accounted for 78.34% share of the global revenue in 2019. The growing prevalence of self-medication for the treatment of significant health conditions and the rising demand for botanical supplements in daily consumption has offered momentum to the growth of the OTC drugs and botanical supplement market.

Growth of strong regulatory policies prevailing the sale of OTC drugs and increased focus of the producers on adhering to premium quality standards and right branding and labeling of botanical supplements have strengthened their interest in the marketing of these products. These factors, in turn, are projected to give an impetus to the industry growth across the globe.

The growth in the OTC drugs and botanical supplement industry is attributed to the rising awareness regarding the general health and growth of the pharmaceutical industry. The growing trend among consumers to opt for OTC drugs for a range of minor ailments without a doctor’s prescription and consultation in distinguished media concerning the functions of botanical supplements has propelled the growth of the industry in major regions.

The prescribed segment is expected to expand at the fastest CAGR of 8.3% over the forecast period. The rising popularity of food for special medical purposes, mainly targeting customers with issues ranging from infertility to malnutrition, is projected to have a considerable impact on the prescribed botanical supplements industry.

Source Insights

Leaves led the market and accounted for a 28.84% share of the global revenue in 2019. Herbs and leaves are used since ancient times to produce botanical medicines. However, they are gaining remarkable popularity owing to the changing consumer trend of using natural products rather than synthetic ones. The leaf of several plants, including aloe vera, rosemary, thyme, basil, and clove leaves, is rich in antioxidants and also provides anti-microbial properties. This, in turn, has led to their extensive usage in the supplements and other industries.

Spices held the second-largest share in 2019. The shift in lifestyles and growth in the trend of exploring and experiencing novel foods has led to the growth in the demand for spices. Spice producers are coming up with novel and varied flavors due to changing consumer preferences, thus boosting the segment growth. Spices are the most extensively used ingredient among the other sources of botanical ingredients.

Global botanical supplement market share

The increase in the usage of spice has coincided with augmented consumer familiarity and interest in Ayurveda, a traditional medicine system of India. Apart from being an extensively used food ingredient in various dishes, like curries, turmeric has been used medicinally in Ayurveda to address a variety of health issues, including joint pain, inflammation, ulcers, kidney, liver disorders, and respiratory conditions.

The flowers segment is expected to witness considerable growth in the years to come on account of its widespread utilized in botanical supplements for upper respiratory infections, cough, common cold, and some inflammatory conditions. Moreover, leaves of natural plants comprise medicinal properties extracted for the production of botanical supplements. Camellia sinensis (green tea) and Ginkgo biloba are common leaf ingredients used to make such supplements. The demand for botanical products in food and beverages, cosmetics, and medicines has led to the growth of the leaves segment.

Regional Insights

North America dominated the market and accounted for a 34.70% share of the global revenue in 2019. The increasing awareness regarding supplements infused with botanical ingredients, coupled with the growing consumption of dietary supplements, is a significant factor propelling the industry growth in the region.

Furthermore, the region will take away the most significant slice of the growth pie due to rising awareness, the rise of veganism, and increasing rates of obesity. The growing geriatric population in developed countries, such as Japan and the U.S., has led to considerable expenditure on healthcare services.

The European region captured a major revenue share in 2019 and is projected to witness significant growth over the forecast period. Influence of individuals with their peer group, neighbors, family, endorsement, and magazines by celebrities and rising disposable income are expected to fuel the growth of the industry in this region over the forecast period.

Europe is a substantial manufacturer, exporter, and consumer of pharmaceuticals. The region has a significant industry for nutraceuticals, pharmaceuticals, and complementary and alternative medicine products. The sector is predicted to grow moderately in the years to come on account of an aging population in the European region. Consumer demand for healthier and natural-based products with better efficacy is prompting European companies to invest in R&D and seek natural ingredients.

Key Companies & Market Share Insights

The botanical supplement industry is characterized by moderate competition owing to the presence of several large- and small-scale companies. Acquisitions, expansions, and new product launches are the significant strategies adopted by the market players to ensure their growth in the industry. Furthermore, effective distribution channels are anticipated to support companies to reinforce their market position. In addition, major companies are focusing on strengthening their presence by incorporating their business operations across the value chain and implementing marketing strategies, such as new product launches and personalized nutrition. Some prominent players in the global botanical supplements market include:

  • Dabur India, NBTY Inc.

  • Ricola AG.

  • Mondelez International

  • Procter and Gamble

  • Nutraceutical International Company

  • BASF SE

  • The Himalaya Drug Company

  • Blackmores Limited

Botanical Supplements Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 28.46 Billion

Revenue forecast in 2027

USD 49.36 Billion

Growth Rate

CAGR of 7.4% from 2020 to 2027

Base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Revenue in USD million and CAGR from 2020 to 2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Source, form, application, end-use, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Spain; China; India; Japan; Australia; Brazil; Argentina; South Africa

Key companies profiled

Dabur India; NBTY Inc.; Ricola AG.; Mondelez International; Procter and Gamble; Nutraceutical International Company; BASF SE; The Himalaya Drug Company; Blackmores Limited

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Segments Covered in the Report

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Grand View Research has segmented the global botanical supplements market report on the basis of source, form, application, end-use, and region:

  • Source Outlook (Revenue, USD Million, 2016 - 2027)

    • Herbs

    • Leaves

    • Spices

    • Flowers

    • Others

  • Form Outlook (Revenue, USD Million, 2016 - 2027)

    • Powder

    • Liquid

    • Tablets

    • Capsules

    • Gummies

    • Others

  • Application Outlook (Revenue, USD Million, 2016 - 2027)

    • Energy & Weight Management

    • General Health

    • Bone & Joint Health

    • Gastrointestinal Health

    • Immunity

    • Cardiac Health

    • Diabetes

    • Anti-cancer

    • Others

  • End-use Outlook (Revenue, USD Million, 2016 - 2027)

    • OTC

    • Prescribed

  • Regional Outlook (Revenue, USD Million, 2016 - 2027)

    • North America

      • The U.S.

      • Canada

      • Mexico

    • Europe

      • The U.K.

      • Germany

      • France

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • Australia

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • South Africa

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