Global Botanical Supplements Market Overview:
The rising inclination towards natural products, awareness regarding preventive healthcare, and surging spending on health and wellness will help to boost the global Botanical Supplements market. The rise in the general acceptance of herbal formulations among consumers under different demographics is expected to shape the future growth of supplements in favor of botanicals. The awareness about the perceived health benefits of herbal supplements is very well established among millennials across both developing as well as developed economies. The growing geriatric population coupled with the rising prevalence of chronic conditions is also fueling the demand for Botanical Supplements across the globe. According to AMA, the Global Botanical Supplements market is expected to see growth rate of 7.3%
- Increasing health awareness
- The growing self-medication behavior among consumers
- Increasing lifestyle diseases boosting the global botanical supplements market
- Increasing adoption of botanical supplements by the geriatric population bodes
- Lack of regulatory checks lead to false health claims
- Strengthening of safety norms presents a significant opportunity for players
- Increasing Preference For Herbal Digestive Supplements and Botanicals
The market studied is competitive, and the companies have adopted product innovation, strategic acquisitions, and expansions as their key strategies in order to expand their geographical presence and customer base. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Nature's Bounty Co (United States), Himalaya Drug Company (India), Amway Corporation (United States), GNC Holdings Inc.(United States), NOW Foods (United States), Dr. Willmar Schwabe GmbH & Co. KG (Germany), Gaia Herbs, LLC (United States), Nutraceutical International Corporation (United States), Blackmores Limited (Australia) and Herbalife International (United States). Additionally, following companies can also be profiled that are part of our coverage like Bio - Botanica, Inc. (United States), Dabur India Limited (India) and Integria Healthcare Pty Ltd. (Austalia). Analyst at AMA Research see United States Players to retain maximum share of Global Botanical Supplements market by 2025. Considering Market by Distribution Channel, the sub-segment i.e. Supermarket/Hypermarket will boost the Botanical Supplements market. Considering Market by Form, the sub-segment i.e. Tablets will boost the Botanical Supplements market. Considering Market by Consumer Outlook, the sub-segment i.e. Pregnant women will boost the Botanical Supplements market.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Botanical Supplements market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Botanical Supplements market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Botanical Supplements Manufacturer, Providers, Distributors, Government Regulatory Bodies, Private Research Organizations, Government Research Organization and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.