Botanical Supplements Market: Current Market Size and the Future Potential of the Market
Botanical supplements are the dietary supplements made from plants or parts of plants for medical and therapeutic purposes. Products made up of botanicals are used for the prevention and management of various diseases and ailments and are called as photomedicine. Botanical supplements works as natural alternatives for hormone replacement therapy, as plants have been used in medicinal purposes for thousands of years.
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Natural offerings such as detoxes and probiotic drinks, fish oils, cranberry and other herbal supplements are emerging as most widely used botanical supplements. Food supplements including multivitamins, omega-3s, chondroitin and herbal extracts had witnessed lucrative growth, as large number of consumers perceive botanical supplements products as an anti-medicinal, low-cost option for healthy and disease free life style.
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Globally, Europe was the largest market for botanical supplements in 2014, followed by Asia-Pacific. Asia-Pacific is the key region for potential expansion of botanical supplements market, attributed to the rising disposable income of the middle class coupled with the long-standing tradition of botanical medicine in countries such as India, Thailand and China.
Some of the major players in global botanical supplements market include, Natures Sunshine Products Incorporated, Procter & Gamble, NaturaLife Asia Co., Ltd., Imperial Ginseng Products Ltd. , Nutraceutical International Corporation, Pharmaton Natural Health Products, International Vitamin Corp. , The Himalaya Drug Company, Arizona Natural Resources, Inc.
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