The global market for botanical supplements in value term grew from USD 45.1 billion in 2010 to USD 54.6 billion in 2013, and is expected to grow to USD 90.2 billion in 2020 growing at a CAGR of 7.5%. Also, Usage of botanical supplements by adult women (largest end user in 2013) is projected to increase to USD 32.9 billion in 2020 at a CAGR of 7.5%.
Albany, NY -- (SBWIRE) -- 06/22/2016 -- Interest in healthy eating is influencing consumers to shift their dietary preferences in favour of food and food ingredients with potential health benefits. For consumers looking for a healthy lifestyle and seeking to reduce the risk of illness, herbal and botanical supplements (popularly known as herbal medicinal products) are among the best options. Botanical supplements include fresh or dried products in different forms, such as tablets, capsules, powders, and tea bags. Globally, garlic, ginger, santalum, plantago, ginseng, rhodiola extract, red clover extract, and soy extract are some of the most widely used botanical supplements. Increasing elderly population and little or no side effects of botanical supplements are expected to drive the global botanical supplements market.
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According to the Population Division of the United Nations Department of Economic and Social Affairs (UN-DESA), there were 841 million people aged 60 and above in 2013 compared to 205 million in 1950. The number is projected to reach over 2 billion by 2050. In the last few years, Europe has emerged as the largest market for botanical supplements, followed by Asia Pacific. In Asia Pacific, the long-standing tradition of using botanical medicine, the current economic development, and increasing urbanization are some factors driving the increasing demand for botanical supplements. Owing to these factors, Asia Pacific is expected to surpass Europe as the leading market for botanical supplements.
The botanical supplements market is bifurcated into application (food and beverages, pharmaceutical, and personal care) and end user (adult women, adult men, baby boomers, and others). Middle-aged women with weight and health-related issue concerns are the largest consumers of herbal supplements in terms of end users. The baby boomers segment is expected to show the highest growth owing to increasing health issues with old age.
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The report covers in-depth Botanical Supplements market analysis, by application segment (food and beverage, pharmaceutical and personal care) and end-user segment (adult women, adult men, baby boomers and others) for the period 2010 to 2020. In addition, the current Botanical supplements market dynamics including the drivers, restraints, opportunities and recent developments have been captured throughout the report. Botanical Supplements market for each of the three regions, North America (the U.S.), Europe (Germany, France, Italy and the U.K.) and Asia-Pacific (India, China and Japan) includes historical and forecasted market sizes (2010-2020), in terms of value (USD billion).
The Competitive Landscape section of the Botanical supplements market report includes companies market share in different countries included in the report. Also includes the global market share of the top players. The report also includes distribution channel section which provides an insight on the distribution channels and their market share used in different countries and at global level. Some of the major players in the Botanical Supplements market are Nutraceutical International Corporation, NBTY, Inc., BASF SE, The Himalaya Drug Company, Ricola AG, Dabur, Mondelez International and Procter & Gamble. The company profiles include attributes such as company overview, products and segments, financial performance, and strategic developments.
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