Botanical Supplements Market size was over USD 55.22 billion in 2024 and is projected to reach USD 183.99 billion by 2037, growing at around 9.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of botanical supplements is assessed at USD 59.77 billion.
The growth of the market can be attributed to the rising awareness associated with the health benefits of herbal supplements, increasing healthcare expenditure of developed nations and growing prevalence of chronic diseases around the world. According to Centers for Medicare & Medicaid Services (CMS), the American healthcare spending rose by 4.6% in 2019. The total health budget to $3.8 billion. Increasing consumption of weight loss and energy drinks globally is also expected to boost market growth in the near future. Along with these, intensifying innovation in manufacturing supplements comprising amino acids, fish oils or detoxes is predicted to offer opportunities to the market by the end of 2029.
Growth Drivers
Challenges
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
9.7% |
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Base Year Market Size (2024) |
USD 55.22 billion |
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Forecast Year Market Size (2037) |
USD 183.99 billion |
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Regional Scope |
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The market is segmented by form into powdered, drinks & shots, capsules and others, out of which, the capsules segment is anticipated to hold the largest share in the market on account of increasing consumer inclination towards capsules and tablets as a result of their ease of consumption. Furthermore, the segment for powdered supplements is assessed to witness significant growth rate over the forecast period owing to the rise in demand for protein supplement powders among athletes and bodybuilders. Additionally, based on application, the personal care segment is predicted to acquire the largest market share, which can be credited to the escalating trend of taking weight loss programs and growing shift towards a healthy diet in developed and developing economies.
Our in-depth analysis of the global market includes the following segments:
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By Form |
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By Application |
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By Distribution Channel |
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On the basis of geographical analysis, the botanical supplements market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America industry is expected to dominate majority revenue share by 2037, led by increasing awareness about foods infused with herbal extracts and growing consumption of dietary supplements in the region. In addition, Asia Pacific is also anticipated to occupy a significant market share attributing to the increase in number of exports of botanical supplements, especially in India and China. Apart from these, rising incidences of diseases due to sedentary lifestyle and growing consumption of tobacco are also evaluated to drive growth to the market in this region. According to the World Health Organization (WHO), China is the largest consumer and producer of tobacco. There are more than 300 million smokers in this country. However, Europe’s market is expected to witness the highest growth in the forecast period ascribing to the growing healthcare spending and the increasing adoption of natural products in the region.
April 30, 2021: Nestlé will acquire core brands of The Bountiful Company to expand their range of nutrition and supplement categories.
Author Credits: Radhika Pawar
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