Botanical Supplement Market

Botanical Supplement Market Outlook (2024 to 2034)

Revenue from the global botanical supplement market is expected to reach US$ 19.2 billion in 2024 and further increase at a CAGR of 5.9% to end up at US$ 34.2 billion by 2034.

Botanical supplements have long been used in traditional medicine, such as Ayurveda, Traditional Chinese Medicine, and Herbal Medicine. Many people believe that these supplements offer a host of health benefits. Although research to determine the effectiveness of botanical supplements is still in its early stages, they are starting to gain popularity across several regions.

Plant-based supplements are currently available in a variety of forms, such as powders, tinctures, capsules, and tablets. They are sold in pharmacies, health food stores, and online platforms, thus ensuring quick access. The convenience factor is contributing to the botanical supplement market growth.

Growing concerns about food and emphasis on preventative healthcare have brought about a shift toward health-promoting herbal supplements. Companies are focusing on launching complementary remedies to help women who suffer from common issues including menopausal hot flashes and insomnia.

Probiotic drinks, fish oils, detoxes, and other herbal supplements are among the growing list of herbal options. Market growth is driven by factors such as increasing consumer adoption of supplementation, high-income levels, and the availability of premium sports and fitness facilities.

Many pharmaceutical companies are conducting research into herbal supplements in response to the growing demand for herbal remedies.
These days, many people are taking herbal pills that contain immune-boosting ingredients like astragalus, echinacea, and elderberry.

Adaptogenic herbs, such as ashwagandha and Rhodiola rosea, are more in demand because of their capacity to promote mental health, lessen stress, and lessen anxiety. The food industry is using more and more of the herbal component curcumin as a natural coloring agent. Rising demand for organic and clean-label herbal supplements is also changing the market orientation of industry players.

Report Attribute	Detail
Botanical Supplement Market Size (2024E)	US$ 19.2 Billion
Forecasted Market Value (2034F)	US$ 34.2 Billion
Global Market Growth Rate (2024 to 2034)	5.9% CAGR
Canada Market Growth Rate (2024 to 2034)	2.9% CAGR
China Market Value (2034F)	US$ 6.82 Billion
North America Market Share (2024E)	28%
East Asia Market Share (2034F)	27%
Key Companies Profiled	Nature’s Bounty Co.; Himalaya Drug Company; Amway Corporation; GNC Holdings Inc.; NOW Foods; Dr Willmar Schwabe GmbH; Herbalife International; Bio-Botanica Inc.; Dominate Industries; Moringa Agro; DRP Herbal; Green Era Foods & Nutraceutics; MotherTree Nutra Pvt. Ltd.

Which Factors are Benefiting Botanical Supplement Manufacturers?

“Global Trend toward Traditional Herbal Products”

Growing customer interest in herbal supplements has led to the introduction of herbal, traditional, and botanical goods by comparatively small-scale businesses. Small businesses that provide these items have taken market share away from some huge corporations.

As an illustration, consider the rising fame of Patanjali Ayurved, an Indian company that produces herbal goods and commands a substantial portion of the country's toothpaste industry.

• Colgate-Palmolive Company used to dominate the Indian toothpaste market, but sales of Patanjali's Ayurvedic/herbal toothpaste, which is well-known as a botanical product, have significantly increased in the personal care sector as a result of growing consumer demand for herbal products.

“Growing Emphasis on Personalized Healthcare”

Growing consumer awareness of the health advantages of using botanical supplements, like holy basil extract, which reduces anxiety, is one of the main factors projected to drive the expansion of the botanical supplement market size. Demand for these supplements is rising because of the proliferation of ads and the simple accessibility of botanical supplements over the counter. Increased use of social media and the Internet has led to a current trend among consumers to self-medicate.

Because supplement producers are creating and supplying a wide range of botanical products tailored to specific ingredients, consumers are unable to select the right health supplement. This has led manufacturers to produce products that, when taken, provide holistic advantages as opposed to targeted benefits. Manufacturers are focusing on providing their customers with personalized products.

What Needs to Be Watched in the Botanical Supplement Business?

“Absence of Regulatory Checks Leading to False Health Claims”

The absence of strict guidelines and regulations concerning the efficacy and safety of botanical health supplement products is anticipated to have an impact on the global expansion of this market. Owing to a decreased focus on product safety and labeling, there has been a notable rise in the prevalence of manufacturers making fraudulent health claims to promote their goods. These elements have affected consumers' perceptions of botanical supplements.

Country-wise Evaluation

Countries where the requirement for botanical supplements is increasing include the United States, China, Japan, and South Korea.

What is Leading to the Steady Growth of the Botanical Supplement Market in the United States?

“Strong Online Distribution Channels Enhancing Accessibility to Herbal Supplements”

Attribute	United States
Market Value (2024E)	US$ 4.22 Billion
Growth Rate (2024 to 2034)	1.5% CAGR
Projected Value (2034F)	US$ 4.88 Billion

Increasing usage of internet distribution platforms by producers of dietary supplements. There is a rise in demand for botanical supplements as a result of these manufacturers using online platforms to market and sell their goods. The spike in consumption of these supplements has been mostly driven by their simple availability and accessibility through internet channels, which has had a significant impact on consumer behavior. Manufacturers of health supplements now have a direct line of communication and a wider audience thanks to online distribution channels.

• According to Euromonitor data, e-commerce surpassed all other channels as the United States’ largest avenue for selling dietary supplements in 2023. Meanwhile, online celebrity endorsements and the growth of influencer marketing are igniting consumer interest in beauty-from-within businesses.

What is Drawing Botanical Supplement Producers to China?

“Growing Focus on Preventive Healthcare with Holistic Health Solutions”

Attribute	China
Market Value (2024E)	US$ 3.66 Billion
Growth Rate (2024 to 2034)	6.4% CAGR
Projected Value (2034F)	US$ 6.82 Billion

There has been an increasing emphasis on taking botanical supplements as people get older and try to meet their nutritional requirements in China. Sales of botanical supplements both locally and internationally have significantly increased as a result of this change in customer behavior, especially in China. Increasing emphasis on preventive healthcare together with the growing need for natural and holistic health solutions is a key botanical supplement market trend in the country.

• In August 2023, Mom's Garden GmbH, a German supplement company, announced its plans to expand into the Chinese market with the introduction of a new weight-management supplement that contains postbiotics and botanical extracts that function as AMPK (AMP-activated protein kinase) activators.
• In August 2023, Yiling Pharmaceutical signed an agreement with Nigeria to export traditional Chinese medicine (TCM) and saw a great chance to collaborate with producers of African herbal medicines on the creation of new products.

Category-wise Analysis

The market for botanical supplements is divided into two categories including application and demography. There are several applications for botanical supplements including drugs, cosmetics, and food & beverages.

Why are Botanical Supplements Extensively Used in Food & Beverages?

“Shift toward Functional Foods Offering Health Benefits Beyond Basic Nutrition”

Attribute	Food & Beverages
Segment Value (2024E)	US$ 7.62 Billion
Growth Rate (2024 to 2034)	5.7% CAGR
Projected Value (2034F)	US$ 13.3 Billion

Because of their linked health advantages, botanical supplements are popular among end consumers and are frequently included in food and beverages. The increasing interest of consumers in their health and well-being is driving the need for botanical supplements in food and drink. Botanical supplements offer a practical alternative for consumers to include natural and plant-based nutrients in their diets, which are becoming more and more in demand. The utilization of plant-based supplements in food and drink highlights the growing trend of consumers being more health-conscious and seeking out functional meals.

Which Demographic Segment Accounts for Substantial Revenue Streams?

“Higher Demand for Botanical Supplements among Baby Boomers”

Attribute	Baby Boomers
Segment Value (2024E)	US$ 6.74 Billion
Growth Rate (2024 to 2034)	5.9% CAGR
Projected Value (2034F)	US$ 11.9 Billion

Baby boomers are increasingly using botanical supplements to boost their well-being as their understanding of health and wellness grows. The growing popularity of botanical supplements among this age group can be attributed to the allure of natural components and the purported health benefits. As a result, the baby boomer generation occupies a substantial botanical supplement market share.

Market Competition

To boost the acceptance of their supplements across important consuming countries like Europe and North America, key players in the botanical supplement market are placing a strong emphasis on obtaining the label claims and required certifications, and adapting themselves to the evolving market trends such as the use of botanical extracts and botanical infused drinks.

• Two new botanical compounds were released by Unigen Inc. in February 2022; one was intended to enhance the immune system and the other to promote respiratory health. Two distinct types of bioflavonoids found in attention, the respiratory health ingredient, are claimed to improve both innate and adaptive immunity, as well as the synthesis of IgA and IgG antibodies and a normal level of cytokines.
• Herbalife introduced its easy-to-consume meal replacement line in 2022, emphasizing nutrition. Products include baked pastries, snacks, and smoothies.

Fact.MR provides detailed information about the price points of key botanical supplement producers positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Key Segments of Botanical Supplement Market Research

• By Form :

  • Powder
  • Liquid
  • Capsules
  • Bars
  • Gels
  • Granules
  • Oil

• By Application :

  • Drugs
  • Cosmetics
  • Foods & Beverages

• By Demography :

  • Adult Women
  • Adult Men
  • Baby Boomers
  • Others

• By Region :

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa