Global Market Study on Botanical Supplements: APAC to Outpace Europe, Global Revenues to Surpass US$ 90 Bn over 2014-2020

  • Published On : Sep-2014 |
  • Pages : 104 Pages |
  • Format :

Increasing preference for a healthy lifestyle and nutritious diet has been the primary factor driving dietary supplements sector. Botanical supplements are specifically experiencing higher sales because they are derived from botanicals and herbs, and have a little to no side effects, unlike other supplements and allopathic medicines. The global botanical supplements market is currently witnessing a healthy growth rate. Persistence Market Research has recently published a new report based on the global market for botanical supplements. The report is an exhaustive study of the global market, various factors associated with the market growth, segments, key geographical markets, and leading companies in the marketplace.

PMR’s global botanical supplements market report first provides an overview of the concept of botanical or herbal supplements, market size, yearly growth rates, revenues, sales, and growth prospects for a six-year forecast period 2014-2020. The next section analyzes key drivers and restraints that are expected to influence the market condition in the near future. All the low impact and high impact factors are assessed in detail, to interpret their exact influence on the market condition. The next part of the report provides segmentation of the global botanical supplements market, on the basis of application and end-user. The report offers extensive data on each of the segments and sub-segments.

In the regional analysis section, the report provides in-depth geographical segmentation and valuable insights into each of the regional markets. Along with historical and forecast values, the report helps to identify the largest and fastest growing markets, along with lucrative opportunities that lie in each regional market. The key market players section examines the competitive landscape of the global botanical supplements market. The report includes the profiles of key companies, their business strategy, market shares, and growth prospects in different countries. 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.

Research Methodology

To deduce the global botanical supplements market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by product type, vehicle type, and distribution channel; and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the global botanical supplements market.

The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global botanical supplements market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.

Another key feature of this report is an analysis of the global botanical supplements market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the global botanical supplements market. Further, to understand key segments in terms of their growth and overall global botanical supplements market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the global botanical supplements market.

Global consumers are increasingly switching to healthier dietary regimen. Food ingredients with potential health benefits i.e. dietary supplements have become a commonplace. Botanical supplements are specifically derived from botanical or herbal sources, and are available in the market in form of tablets, powders, capsules, and even tea bags. The global botanical supplements market registered a value worth US$ 54.6 Bn in 2013, which is expected to reach up to US$ 90.2 Bn by the end of 2020. During the forecast period 2014-2020, the market will expand at a healthy CAGR of 7.5%.

Key Market Dynamics

Rising awareness about following healthy diet habits among consumers across the globe is the key factor driving the global botanical supplements market. A growing number of people are seeking a healthier lifestyle with the minimum risks of illnesses. Since botanical supplements come with a little or no side effects, they are being increasingly considered to be an ideal supplement option. This is another key driver anticipated to fuel the market growth. Herbs and botanicals are being increasingly used in therapeutics since the recent past. This will remain major factor favoring the market growth. Established popularity of ginger, garlic, santalum, plantago, ginseng, rhodiola extract, red clover extract, and soy extract is expected to keep the demand sustained. Rising prevalence of chronic illnesses, growing geriatric population, and preferred convenience of consuming supplements will also boost the market growth. Moreover, there are rising concerns over frequent adverse effects of allopathic medicines, which is bolstering the demand for herbal supplements. Consumers worldwide are increasingly inclining toward consuming natural or organically sourced products. This will also support the market growth through to 2020.

Segment Analysis

On the basis of application, the botanical supplements market is segmented into food and beverages, personal care, and pharmaceuticals, and by end-users into adult men, adult women, baby boomers, and others. Adult women segment accounted for the largest market share in 2013, and is projected to remain the key consumer cluster throughout the forecast period as well. In terms of usage, the consumption of botanical supplements by adult women is the highest owing to their burgeoning health and weight related issues. This segment is projected to expand at a CAGR of 7.5%, reaching a value worth US$ 32.9 Bn by the end of 2020. The baby boomers segment will however witness the highest growth due to aging-related issues.

Regional Analysis

The botanical supplements market is segmented on the basis of geographical region as well. There are four key markets viz. North America (led by the U.S.), Europe (comprising the U.K., Germany, France, and Italy), Asia Pacific (including Japan, China, and India), and the rest of the world. Europe has been the global leader since the past few years, followed by Asia Pacific. The APAC market already has a deep-rooted tradition of using botanical or herbal medicines. In addition, the market also witnesses strong growth opportunities due to growing urbanization, rising consumer awareness, and recent economic developments. The APAC market for botanical supplements is thriving rapidly, and is estimated to outpace the European market over the forecast period.

Key Market Players

The botanical supplements market is highly fragmented. There are several players, which operate at the international level, whereas some companies operate only regionally. The top eight players competing on the global botanical supplements market landscape account for nearly 40% share of the entire market revenues. While Ricola spearheads the marketplace nearly 6.4% of the share, Dabur also represents a significant market share of around 5.5%. However, Dabur is a regionally operating company that sells products only in India, and Ricola is a globally selling company. Dabur has however recently expanded sales to North American and European countries, such as the U.S., France, Germany and the U.K. Another player that operates at a global level, is Procter&Gamble.

Some of the major players in the Botanical Supplements market:

  • Nutraceutical International Corporation.
  • NBTY, Inc.
  • BASF SE.
  • The Himalaya Drug Company.
  • Ricola AG.
  • Dabur.
  • Mondelez International and Procter & Gamble.
  • Other.

The company profiles include attributes such as company overview, products and segments, financial performance, and strategic developments. 

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