Botanical supplements market
In 2023, the botanical supplements market was worth $47.9 billion and is forecasted to grow to $81.6 billion by 2031. This growth, beginning with an estimated $51.1 billion in 2024, reflects a CAGR of 6.9% over the forecast period 2024u20132031.n
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How Are E-Commerce Platforms Contributing to the Botanical Supplements Market to Reach $81.6 Billion by 2031?
Botanical Supplements Market - 2024-2031 Meticulous Research , a leading global market research company, has released a comprehensive report titled Botanical Supplements Market Global Opportunity Analysis and Industry Forecast (2024 2031). According to the report, the botanical supplements market is poised to grow significantly, reaching a valuation of $81.6 billion by 2031 at a CAGR of 6.9% during the forecast period. Request For Sample Report: https://www.meticulousresearch.com/request-sample- report/cp_id=6053? Market Growth and Key Drivers The rising awareness of health and wellness, an increasing vegan and vegetarian population, and growing demand for natural or organic supplements are some of the primary factors driving market growth. Furthermore, product innovation among botanical supplement manufacturers is accelerating this trend. However, the market also faces challenges, including high product costs, competition from substitutes, and strict regulatory requirements. Additionally, fluctuations in raw material availability remain a concern for manufacturers. Despite these hurdles, emerging opportunities in developing economies and the growing trend of clean-label products are expected to bolster the market. Segment Highlights Source: Spices are projected to dominate the market in 2024 due to their numerous health benefits. For instance, turmeric, rich in curcumin, offers anti-inflammatory properties and potential therapeutic effects for diseases like cancer. Form: Tablets are expected to hold the largest market share in 2024. Their popularity stems from convenience, ease of consumption, and advancements in tablet production technologies. Application: The energy & weight management segment is anticipated to lead the market, driven by the increasing prevalence of cardiovascular diseases, diabetes, and obesity. Supplements such as green tea extract and garcinia cambogia are gaining popularity for their weight management and energy-boosting properties. Distribution Channel: Drug stores and pharmacies are predicted to dominate, offering professional advice and easy access to reputable brands that meet safety standards. Regional Insights North America is forecasted to dominate the botanical supplements market, followed by Asia-Pacific and Europe. Factors contributing to North America s large market share Page 1 of 2 Meticulous Research| sales@meticulousresearch.com
Botanical Supplements Market - 2024-2031 include growing awareness of health benefits, increasing prevalence of chronic conditions, and a rising preference for natural dietary solutions. Key Players Prominent players in the market include Dabur India Limited (India), Nature s Bounty (U.S.), Ricola AG (Switzerland), BASF SE (Germany), The Himalaya Drug Company (India), and GNC Holdings Inc. (U.S.), among others. These companies are leveraging innovation to develop new products and cater to the growing consumer demand for botanical supplements. Buy Now: https://www.meticulousresearch.com/Checkout/67500695? About Meticulous Research Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to detail. With meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 2 of 2 Meticulous Research| sales@meticulousresearch.com
