Global Botanical Supplements Market to reach USD 147.27 billion by 2027.Global Botanical Supplements Market is valued approximately USD 89.64 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.35 % over the forecast period 2021-2027. Botanical supplements, often known as herbal dietary supplements or herbals, are a type of nutritional supplement that contains plants. These are plant-derived goods derived from plant parts, plants, and plant extracts. Botanical supplements are used in both alternative and traditional medicine and available in a variety of forms. Over the projected period, the rising prevalence of chronic diseases is likely to drive development in the global botanical supplements market. The growing elderly population and high consumption of dietary supplements is also projected to help the global botanical supplements market flourish. According to the International Diabetes Federation Diabetes Atlas, September 2019, 463 million people worldwide are predicted to have diabetes in 2019, with the number anticipated to rise to 578 million by 2030 and 700 million by 2045. According to the United States Census Bureau, the elderly population in the United States is predicted to reach 77 million by 2034. However, no standardization of botanical supplements, and adulterated botanical substances hamper the growth of the market over the forecast period of 2021-2027. Also, government support for R&D and the development of customized and personalized herbal supplements is likely to increase the market growth during the forecast period.

The global botanical supplements market is segmented into main regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the dominating region across the world in terms of market share owing increased knowledge of botanically infused supplements, the development of vegetarianism, rising obesity rates, and rising usage of dietary supplements. Whereas, Europe is also anticipated to exhibit highest growth over the forecast period 2021-2027. This growth can be attributed to the presence of a considerable market for nutraceuticals, pharmaceuticals, and complementary and alternative medical products, increasing geriatric population and consumer preference for healthier, natural-based products would create lucrative growth prospects for the botanical supplements market across European region.

Major market player included in this report are:
Integrated BioPharma Inc.
ChromaDex, Inc.
Nutraceutical International Corporation
Surya Herbal Ltd.
BASF SE
NaturaLife Asia Co. Ltd.
Bio-Botanica Inc.
Herbalife Nutrition
Archer Daniels Midland Company (ADM)
The Himalaya Drug Company

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application:
Food and beverages
Pharmaceutical
Personal care
By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Botanical SupplementsMarket in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors