The global botanical supplements market size is projected to gain significant growth from 2023 to 2033. According to the research report published by Future Market Insights, the global market is predicted to surpass a valuation of USD 71,963 million in 2023. It is expected to reach a valuation of USD 95,703.2 million by 2033. The market is anticipated to capture a CAGR of 3% from 2023 to 2033.
Apart from providing authentic taste to products, botanical supplements also come with perceived health benefits. For instance, green tea extract well maintains cardiovascular health and the Echinacea plant boosts the immune system. According to research, 97% of consumers in Europe perceive the term botanical or herbal supplements well, while 82% trust such products to maintain natural and strong health.
Traditional medical practices including Ayurveda, Traditional Chinese Medicine, and Herbal Medicine have long employed botanical supplements. As a result, a lot of individuals adhere to the notion that these supplements have an array of health advantages. Botanical supplements are becoming popular, even though scientific study to assess their usefulness is still underway.
Currently, there are many options for purchasing botanical supplements, including capsules, pills, tinctures, and powders. They are easily available to customers since they are sold in pharmacies, health food shops, and online platforms. The market is expanding significantly as a result of the convenience aspect.
| Attributes | Details |
|---|---|
| Botanical Supplements Market Share (2022) | USD 68,935.42 million |
| Botanical Supplements Market Share (2023) | USD 71,693 million |
| Botanical Supplements Market Share (2033) | USD 95,703.2 million |
| Botanical Supplements Market Share (2023 to 2033) | 3% |
| Collective Value Share: Top 3 Countries | 44.4% |
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The global botanical supplements industry size expanded at a robust CAGR of 7.6% from 2018 to 2022. In 2018, the global market size stood at USD 51,506.0 million. In the following years, the market witnessed astronomical growth, accounting for USD 68,935.42 million in 2022.
Botanical supplements, being a rich source of antioxidant and phenolic compounds, is gaining popularity over time due to:
Demand for botanical supplements has been forecasted to soar in sports nutrition & dietary supplements sectors. Besides this, improving online availability may allow the market to mitigate various challenges witnessed in the last few years.
Vegetable and Fruit-based Botanical Supplements Flavor and Functionality are Gaining Popularity
The trend of ‘better for you’ botanicals with ‘super-fruit’ ingredients has established a strong foothold in the worldwide market, thanks to their enhanced flavor and healthy attributes. For instance,
Powdered Botanical Supplements are Gaining Popularity among Consumers
Powdered botanical supplements are much desired due to the added benefits of strong flavor and mild taste apart from the characteristics like long shelf life and ease of use. Manufacturers are now focusing on research regarding floral powders, where the saffron flower is a prominent choice because of its royal stigma as the most expensive culinary spice in the world.
Saffron was used for menstrual symptoms, cramps, asthma, pain, liver conditions, and brain diseases before. Further research has established the efficacy of saffron petal powders in food and beverage products as a functional coloring agent, which is causing a soaring demand for the product.
The soft gel form is also gaining swift popularity and is predicted to garner immense growth over the next decade. In 2022, the soft gel segment captured 24.80% shares in the global market.
Online Retail Is Gaining Pace in Tandem with Increasing Botanical Supplements Demand
The ongoing digital trend has provided a significant boost to botanical supplement sales attributed to the pharmaceutical industry growth and the rising awareness regarding general health concerns. Botanical and herbal supplements have seen a key surge in demand among consumers who constantly opt for online retail rather than offline purchase due to the safety and convenience of purchasing.
The store-based distribution channel segment is predicted to dominate the global market during the forecast period. In 2022, the store-based segment captured a 76.80% share of the global market.
High Phenolic Compounds Present in Botanical Supplements Pushing Sales in Sports Nutrition
Botanical supplements, such as coffee fruit extract including the bean, have high phenolic compounds, which naturally provide a high degree of antioxidant activity including vitamin B or riboflavin while providing low caffeine levels. The product boosts brain function well, while also stimulating athletic performances and protecting against oxidative damage with an increased level of Nrf2 which is a transcription factor that regulates antioxidant proteins expression.
Principal Consultant
Flavored Waters are Boosting Botanical Supplements Production in Brazil
Botanical products and beverages are still considered emerging product categories in Latin America. However, the segment is growing significantly with rapid innovation in botanical ingredients which is attributable to both enhanced flavor and improved functionality.
According to research, there is almost a 170% increase in botanical supplement launches in the past 10 years. Among them, botanical-infused flavored waters and carbonated soft drinks with popular botanical profiles including herbs, floral, and spices are gaining much popularity in Brazil.
Herbal Dietary Supplements are Gaining Traction in the United States with GRAS Certification
Popular brands providing herbal dietary supplements across the United States retail stores are focusing on getting GRAS (Generally Recognized as Safe) certification to account for a large share of the country. While products are being offered in different forms such as extracts, or dried powders, the inclusion levels like the amount of daily intake and concentration are also being specified. So that consumers get maximum safety and quality product with botanical ingredients providing beneficial functionalities. In 2022, the United States captured a 21.9% share of the global market.
Premium Gin Brands are Driving Botanical Supplements Sales in the United Kingdom
Botanical supplements are witnessing impressive prospects in the United Kingdom’s alcohol industry, especially with the gin brands. Although gin itself is made of botanical blends including citrus, juniper, and some spices and roots, improving the taste and choices of consumers are encouraging the inclusion of botanical ingredients. Botanical ingredients include cherry blossom, bergamot, yuzu fruit, gentian, wormwood, quassia, and cinchona, being mixed with aniseed and liquorice to develop premium gins. In 2022, the United Kingdom captured a 1.7% share of the global market.
| Countries | CAGR Share in Global Market (2022) |
|---|---|
| The United States | 21.9% |
| The United Kingdom | 1.7% |
| China | 2.3% |
| Japan | 3.4% |
| India | 3.4% |
Key botanical supplement manufacturers are focusing on organic growth like product launches, and product growth strategies. They are also focusing on inorganic growth strategies with several acquisitions and joint ventures. Particularly for the food and beverage industry, recent advancements in botanicals and plant-based formulations are soaring in demand, as botanical supplement brands are going for innovative formulations to be used in end products in the food and beverage industry.
Recent Developments Observed by FMI:
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value, MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania; The Middle East & Africa (MEA) |
| Key Countries Covered | The United States, Canada, Germany, The United Kingdom, Nordic, Russia, BENELUX, Poland, France, Spain, Italy, Czech Republic, Hungary, Rest of EMEAI, Brazil, Peru, Argentina, Mexico, South Africa, Northern Africa, GCC Countries, China, Japan, South Korea, India, ASIAN, Thailand, Malaysia, Indonesia, Australia, New Zealand, Others |
| Key Segments Covered | Source, Form, Distribution Channel, Application, Region |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Trend Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
A valuation of USD 71,963 million is attributed to the botanical supplements market in 2023.
The global botanical supplements market size is anticipated to surpass USD 95,703.2 million by 2033.
The botanical supplements market is projected to accelerate at a CAGR of 3% between 2023 and 2033.
Given that it accounted for 21.9% of the global market in 2022, the United States is a highly profitable botanical supplements market.
The value of the global botanical supplements market climbed significantly between 2018 and 2022, with a CAGR of 7.6%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Source 5.1. Vegetables & Fruits 5.2. Herbs & Spices 5.3. Flowers 5.4. Seeds & Nuts 5.5. Leaves 5.6. Bulbs & Roots 5.7. Barks & Berries 5.8. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Form 6.1. Powder 6.2. Liquid 6.3. Capsule 6.4. Bars 6.5. Gels 6.6. Granules 6.7. Oils 6.8. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Offline Stores 7.2. Online Retails 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 8.1. Food & Beverages 8.2. Pharmaceuticals 8.3. Sports Nutrition & Dietary Supplements 8.4. Cosmetics and Personal Care 8.5. Pet Care Industry 8.6. Commercial Households 8.7. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Glanbia plc 17.2. BASF SE 17.3. Archer Daniels Midland Company 17.4. Naturex SA (Givaudan) 17.5. Amway Corporation 17.6. The Bountiful Company (Nestlé) 17.7. Now Foods 17.8. Dabur India Limited 17.9. Himalaya Wellness Company 17.10. Bio-Botanica Inc. 18. Assumptions & Acronyms Used 19. Research Methodology
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Botanical Supplements Market
