Global Botanical Supplements Market Trends

Statistics for the 2023 & 2024 Global Botanical Supplements market trends, created by Mordor Intelligence™ Industry Reports. Global Botanical Supplements trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

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Team License

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Corporate License

$8750

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Market Trends of Global Botanical Supplements Industry

This section covers the major market trends shaping the Botanical Supplements Market according to our research experts:

Increasing Preference For Herbal Digestive Supplements and Botanicals

The substantial growth of herbal dietary supplements in the market is an indication of the surge in the popularity of the botanicals. According to NBJ (Nashville Business Journal) estimates in 2017, the retail sales of herbal dietary supplements in United States accounted for signifacnt share in the total dietary supplements sales. This created a great opportunity for the digestive health manufacturers to capture the on-going demand for herbal supplements, by launching new products in the market, and gain competitive advantage. The rise in the general acceptance of herbal formulation among consumers under different demographics, with increasing expenditure on preventive healthcare products, is expected to shape the future growth of digestive supplements in favor of botanicals. Furthermore, the greater push for organic, vegan, and non-GMO products drives the sales of herbal supplements in the market.

Botanical Supplements Market - Retail Sales in USD billion, Herbal Supplements, by Distribution Channel, United States, 2015-2017

North America Held a Significant Share In The Market

The usage of dietary supplements has grown significantly in the North American coutries like United States since the past decade or so. Notably, in 2018, 75% of adults in the United States had consumed dietary supplements which is an increase of 10% in the past decade. Thus the increasing consumption of dietary supplements coupled with incresaing awareness regarding supplements infused with botnaical extracts is the major factor driving the market studied in the region. Trend of 'alt-medicine' is expected to deliver significant revenue growth for herbal supplement manufacturers, as consumer perspective is anticipated to change, followed by a strong dependency on private label brands, apart from the national brands. Retailers, like Walmart and Costco, are also fueling the trend by continuing to enhance their own private label offerings through new branding and formulations, improved packaging, and in-store consumer education. Some of the companies offering herbal digestive health supplements in United States include SCD Probiotics, Flora Inc., Renew Life Formulas Inc., and Now Foods . Innovation in the supplement division is a key factor in enabling the growth of the herbal segment. For instance, Now Foods (United States based company) offers a variety of botanical products, including plant enzyme veg capsules and papaya enzyme lozenges.

Botanical Supplements Market- Market Size, by Region, Global, 2019

Botanical Supplements Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)