Market overview:
Developing buyer awareness to the medical advantages related with devouring botanical enhancements, for example, blessed basil separate, which decreases uneasiness, is a central point expected to drive development sought after for botanical enhancements.
Recent developments:
AstraZeneca partners with Luye Pharma to market a cholesterol-lowering product made from red yeast rice.
Market Drivers and Restrains:
Growing health awareness has raised concerns about diet, and heightened preventative health care has led consumers to turn to botanical supplements for health benefits. Several botanical supplement manufacturers offer alternative therapies to relieve women of common problems, such as insomnia and hot flashes during menopause. Herbal offerings such as fish oils, detox and probiotic drinks, and other herbal supplements are becoming the most widely used botanical supplements. Innovation accrues to the manufacture of botanical products comprising a large range of amino acids and specific fonctions, notably the part of poids, the energy balance and the muscular repair.
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Report is segmented as:
By Source:
• Leaves
• Barks
• Fruits and vegetables
• Roots
By Product:
• Tablets
• Powder
• Others
By Applications:
• Food and beverages
• Personal care
• Pharmaceuticals
• others
Geographical Segmentation:
North America dominated the market and accounted for 34.70% of global revenue in 2019. The growing awareness of supplements infused with botanical ingredients, coupled with the increasing consumption of dietary supplements, is a major factor driving the growth of the industry in the region. Additionally, the region will take most of the growth pie due to growing awareness, rising veganism, and rising obesity rates. The growing geriatric population in developed countries, such as Japan and the United States, has generated considerable spending on health services.
Impact of COVID-19 on North America Botanical Supplements Market:
Under the COVID-19 health crisis, demand for botanical supplements has increased dramatically globally, with manufacturers processing the order 24 hours a day. Consumers have been seen to take the supplements as drugs to stay healthy in the unforeseen scenario of COVID-19.
Key market players:
• Amway corporation
• Nutraceutical International Corporation
• Blackmores Limited, Naturex SA
• The Nature 's Bounty Co.
• Herbalife International
• The Himalaya Drug Company
• Bio - Botanica, Inc.
• Dabur India Limited
• Integria Healthcare Pty Ltd.
• Nature’ s Way Products, LLC.
• The Bioforce Group, Ricola AG
• Bionorica SE, Biovontade Sarl
• Bio Tae Extratos Vegetais Ltda.
• The Patanjali Ayurved Limited
• Jiaherb Inc.
• Nutra Green Biotechnology Co.Ltd
• Medico Herbs
• Phytomed Herbal Solutions.
• Others.