Botanical Supplements Market Share

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.