Botanical Supplements Market by Source (Flower, Fruits, Leaves), Age-Group (0-10 Years, 11-20 Years, 21-45 Years), Form, Application, Distribution Channel - Global Forecast 2024-2030

Botanical Supplements Market by Source (Flower, Fruits, Leaves), Age-Group (0-10 Years, 11-20 Years, 21-45 Years), Form, Application, Distribution Channel - Global Forecast 2024-2030

The Botanical Supplements Market size was estimated at USD 42.75 billion in 2023 and expected to reach USD 49.16 billion in 2024, at a CAGR 15.69% to reach USD 118.61 billion by 2030.

Botanical supplements are nutritional supplements made from plants or plant extracts and are often referred to as herbal supplements or phytochemicals. They are used to complement diets and offer extra health advantages over and beyond essential nutrition. A plant's leaves, stems, flowers, roots, and seeds are used to create herbal supplements in various forms, including capsules, tablets, liquids, and teas. Various health advantages, including boosting the immune system, lowering inflammation, enhancing cognitive function, and promoting general wellness, are provided by several botanical supplements that have been used for centuries in traditional medicine. The increasing need for natural and preventive health treatments supports the demand for botanical supplements, facilitated by the availability and accessibility of these items through eCommerce platforms. However, cost-effective alternatives, unstructured regulations, and lack of experimental evidence make it challenging for consumers to buy and use botanical supplements safely and effectively. It is important to consult with a healthcare professional before consuming any new supplement and opting for reputable brands with a quality and safety track record. On the other hand, an emphasis on innovation and distinct research and development (R&D) activities for botanical supplements creates an opportunity to introduce new herbal supplements as manufacturers seek new bioactive compounds that provide special advantages. Moreover, private-label herbal supplements are becoming more popular due to innovative branding and formulations as companies aim to differentiate their products from their competitors.

Regional Insights

The Americas showcases a significant share and developed market for botanical supplements attributed to the consumer inclination toward herbal extracted medicines and increasing spending on preventive measures for health. The increasing product promotion and awareness through social media across major developed economies support the growth of botanical supplement penetration. In the Asia-Pacific, several steps are being taken by the governments of China, India, South Korea, and Australia, among others, to promote exports from India and export avenues for farmers to grow herbs and medicinal plants in the region. In addition, the European consumer preference for more natural, safe, and effective oral solutions for immunity building, diabetes, and energy & weight management, among others, is creating scope for novel developments and boosting the sales of botanical supplements in these regions. The emphasis of several European manufacturers on developing innovative and natural botanical supplements is expected to fuel market growth.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Botanical Supplements Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Ongoing consumer awareness for preventive health
    • Growing interest in natural & plant-based remedies
    • Rising availability through eCommerce industry
    • Market Restraints
      • Unstructured regulations for safety and efficacy of botanical health supplements
      • Market Opportunities
        • Proliferation in research & development activities for making of novel botanical supplements
        • Adoption of private label herbal supplements through innovative branding and formulations
        • Market Challenges
          • Presence of cost-effective alternatives for botanical supplements
          • Market Segmentation Analysis
            • Source: Growing demand for leaf-derived botanicals for various health benefits
            • Form: Significant demand for powdered botanical supplements due to its versatility and customization
            • Age Group: Rising interest of adults aged 21 to 45 to target energy support, stress relief, and mental focus and clarity
            • Application: Growing utilization of botanical supplements for maintaining optimal physical health
            • Distribution Channel: Wider adoption of offline channels with face-to-face interaction and the ability to examine products physically before purchase
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Botanical Supplements Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
            
            Market Share Analysis
            
            The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Botanical Supplements Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Dsm-Firmenich and Indena to Deliver Format-Friendly Next-Gen Botanical Solutions
              
              Indena joined forces with the multifaceted dsm-Firmenich in a strategic collaboration aimed at revolutionizing the dietary supplement market. Harnessing Indena's legacy in phytonutrient research and dsm-firmenich's formidable portfolio and formulation expertise, including flavor enhancement and taste masking, this alliance promises to deliver a new wave of nutritional premixes and consumer-ready solutions, augmenting the pace of innovation and optimizing operations for their clientele.
              
              Citrine Global Corp. Announces Binding Agreement to Acquire 51% of iBOT Israel Botanicals, a Nutritional Supplements’ Company with Fast-Growing Potential
              
              Citrine Global Corp. announced a definitive agreement to strategically acquire a majority stake in iBOT Israel Botanicals Ltd., a company in botanical supplement innovation. iBOT offerings include an array of health-supporting supplements—such as probiotics, medicinal mushrooms, and adaptogens, delivering diverse applications from syrups to capsules. This acquisition reiterates Citrine Global's momentum in expanding its portfolio with fast-growing, revenue-yielding firms and harnessing synergy to amplify worldwide presence within the burgeoning health sector.
              
              NOOCI Says US Expansion Fuelled by Demand for Natural Solutions and Consumer Receptivity
              
              NOOCI, a Hong Kong-based Chinese herbal supplements company, has launched in the United States through its website and an online distribution platform. Their product range includes capsules and powder sachets designed to support women's immune systems, provide menstrual relief, and alleviate nasal congestion.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Botanical Supplements Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            Key Company Profiles
            
            The report delves into recent significant developments in the Botanical Supplements Market, highlighting leading vendors and their innovative profiles. These include Airenherbals, Amway Corporation, Arbro Pharmaceuticals Pvt. Ltd., Arizona Natural Products, Ayujoy Herbals Ltd., Bactolac Pharmaceutical, Inc., BASF SE, Bio-Botanica by Bio Answer Holdings Inc., BL Bio Lab, LLC, Blackmores Limited by Kirin Holdings Company, Limited, Botanic Healthcare Group, Dabur India Ltd., Fermentis Life Sciences Pvt. Ltd., Gaia Herbs, Inc., Glanbia Nutritionals, Inc., GNC Holdings, LLC, Herb Pharm, LLC, Herbalhills by Isha Agro Developers Pvt. Ltd.., Herbalife International India Pvt. Ltd., Himalaya Wellness Company, Kerry Group PLC, Koninklijke DSM N.V., Lupin Limited, MB-Holding GmbH & Co. KG, Nature’s Way Brands, LLC, Nestlé S.A., Nutraceutical Corporation, Organic India Pvt. Ltd., Procter & Gamble Company, Prorganiq, Rainbow Light by Renew Life Formulas, LLC, Ricola Group AG, SMPNutra.com, Streamline Pharma Pvt. Ltd., and Super Me Naturals.
            
            Market Segmentation & Coverage
            
            This research report categorizes the Botanical Supplements Market to forecast the revenues and analyze trends in each of the following sub-markets:
            • Source
              • Flower
              • Fruits
              • Leaves
              • Roots
              • Seeds
              • Stem
              • Age-Group
                • 0-10 Years
                • 11-20 Years
                • 21-45 Years
                • 46-60 Years
                • 60 Years and above
                • Form
                  • Capsules
                  • Gummies
                  • Liquid
                  • Powder
                  • Tablets
                  • Application
                    • Anti-Cancer
                    • Bone & Joint Health
                    • Cardiac Health
                    • Diabetes
                    • Energy & Weight Management
                    • Gastrointestinal Health
                    • General Health
                    • Immunity
                    • Distribution Channel
                      • Offline
                      • Online
                      • Region
                        • Americas
                          • Argentina
                          • Brazil
                          • Canada
                          • Mexico
                          • United States
                            • California
                            • Florida
                            • Illinois
                            • New York
                            • Ohio
                            • Pennsylvania
                            • Texas
                            • Asia-Pacific
                              • Australia
                              • China
                              • India
                              • Indonesia
                              • Japan
                              • Malaysia
                              • Philippines
                              • Singapore
                              • South Korea
                              • Taiwan
                              • Thailand
                              • Vietnam
                              • Europe, Middle East & Africa
                                • Denmark
                                • Egypt
                                • Finland
                                • France
                                • Germany
                                • Israel
                                • Italy
                                • Netherlands
                                • Nigeria
                                • Norway
                                • Poland
                                • Qatar
                                • Russia
                                • Saudi Arabia
                                • South Africa
                                • Spain
                                • Sweden
                                • Switzerland
                                • Turkey
                                • United Arab Emirates
                                • United Kingdom
                                
                                
                                Please Note: PDF & Excel + Online Access - 1 Year