Industry Insights
The global botanical supplements market size was valued at USD 17.74 billion in 2017 and is expected to register a CAGR of over 9% over the forecast period. Rising concerns regarding the adverse effects of synthetically derived nutraceuticals are projected to augment the demand for botanical supplements.
Global botanical supplements market size, by application, 2014 - 2025 (USD Billion)
Botanical supplements are derived from fruits, vegetables, barks, and roots of different plants. Consumption of these products ensures nutritional enrichment in individuals.
Increasing awareness regarding the product benefits, as a result of brand campaigns on electronic media and various research studies, is the key market driver. Growing cases of obesity due sedentary lifestyle and inconsistent diet patterns have resulted in an increased focus on weight management among consumers. This trend is expected to increase the demand for botanical supplements as they are ideally suited for weight management.
In addition, rising concerns regarding the glutamic disorder in developed countries including Germany and Japan are likely to promote the consumption of plant-derived nutraceuticals in coming years. Botanical supplements act as a strong remedial alternative to clinical nutrition in the treatment of malnutrition.
Malnutrition occurs due to the deficiency, excesses or imbalance of essential nutrients in the body. As of 2017, 2.3 billion people suffered from a form of malnutrition, according to a report by WHO. This is expected to offer new applications and growth opportunities for botanical supplements.
Rising importance of ginger-based nutraceuticals in the diets of pregnant women will also add to the growth of the botanical supplements market. Furthermore, new product launches by major companies are projected to widen the application scope thereby boosting the market growth.
Segmentation by Source
• Leaves
• Barks
• Fruits & Vegetables
• Roots
Botanicals ingredients including herbs, roots, leaves, and flowers are considered safe for consumption as they have fewer side-effects as compared to their synthetic counterparts. Herbs, such as echinacea, gingko, garlic, and St. John’s Wort, are some of the most commonly used functional ingredients in dietary supplements.
Botanical ingredients are known for their therapeutic properties and antioxidant characteristics. Manufacturers in this market are focusing on expanding their existing product portfolio by introducing innovative products to help improve gastrointestinal and reproductive health and immune system.
In addition, favorable regulations by authorities, such as the EPA and European Commission, aimed at promoting the development of these supplements will encourage companies to introduce newer fortified products derived from herbs, leaves, roots, etc. Extensive R&D by nutraceutical companies and supportive regulatory frameworks are the key factors responsible for the expansion of botanical supplements market.
Segmentation by Product
• Capsules & Tablets
• Powder
• Liquids
Capsules and tablets segment is projected to be one of the most favorable market product segments. On the other hand, the powder segment will account for over 15% of the global market share by the end of 2025. This growth can be attributed to the increasing demand for energy-mix powders among athletes.
Segmentation by Application
• Additional Nutrition
• Medicinal & Infant Nutrition
• Sports Nutrition
The sports nutrition segment is expected to remain the key application segment due to the growing demand for botanical supplements among sports persons. On the other hand, counterfeit products may present a challenge for the market. However, medicinal and infant nutrition segment is anticipated to offer numerous growth opportunities with the rising demand for infant formulas and baby foods.
Segmentation by End-use
• Infant
• Children
• Adults
• Pregnant Women
• Old-aged
The children end-use segment is anticipated to witness a significant product demand in the form of nutritionally enriched cereal bars and energy drinks. The growth of this segment is credited to the rising importance of sports in the academic curriculum in major economies, such as the U.S., Russia, China, and Japan.
The infant segment is likely to have considerable growth on account of high demand for infant formulas and baby foods across the globe. Other end-use segments are also estimated to register a steady growth over the forecast period.
Segmentation by Region
• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa
North America accounted for more than 30% of the total market revenue in 2017 and is projected to grow further on account of increasing product usage. Furthermore, increasing awareness about the consumption of nutritional products in countries, such as Mexico, is expected to promote the growth of botanical products including herbal supplements in the region over the forecast period.
Competitive Landscape
The market is marked by the presence of established companies. Over the past few years, key companies including Glanbia Nutritionals, Inc., MusclePharm, and Nature's Bounty Co. (NBTY) have been investing in the R&D of new plant-based protein supplements.
In March 2017, MusclePharm Corporation launched new vegan protein supplement, MusclePharm Natural Series. NBTY also launched a new plant-based protein powder, Pure Protein Super Food, which is available in vanilla bean, dark cocoa, and mixed berry super fruits flavors.
Some of the prominent companies in the global botanical supplements market are The Archer Daniels Midland Company (ADM); Glanbia Nutritionals, Inc.; Botanicalife International of America, Inc.; Arizona Natural Products; Naturalife Asia Co., Ltd.; and Blackmores Limited.
