Dublin, June 17, 2025 (GLOBE NEWSWIRE) -- The "Botanical Supplements Market Opportunities and Strategies to 2034" report has been added to ResearchAndMarkets.com's offering.
This report describes and explains the botanical supplements market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region. 
The global botanical supplements market reached a value of nearly $61.23 billion in 2024, having grown at a compound annual growth rate (CAGR) of 7.61% since 2019. The market is expected to grow from $61.23 billion in 2024 to $93.41 billion in 2029 at a rate of 8.81%. The market is then expected to grow at a CAGR of 8.65% from 2029 and reach $141.46 billion in 2034.
The global botanical supplements market is fairly fragmented, with large number of small players in the market. The top ten competitors in the market made up to 18.29% of the total market in 2023. The market fragmentation can be attributed to the presence of large number of players in different geographies. Nature's Bounty was the largest competitor with a 3.95% share of the market, followed by GNC Holdings Inc. 3.71%, Amway Corporation with 3.40%, Archer Daniels Midland Company with 2.69%, Glanbia Plc. with 2.66%, Himalaya Wellness Company with 0.93%, Now Foods with 0.62%, Gaia Herbs LLC. with 0.16%, Bio-Botanica Inc with 0.09% and MegaFood with 0.08%.
Growth in the historic period resulted from rising health consciousness, increasing disposable income, shift towards herbal-based alternatives and expansion of functional food. Factors that negatively affected growth in the historic period were adulteration and mislabeling. Going forward, rising aging population, increasing healthcare expenditure, growing popularity of e-commerce and rising chronic diseases will drive the growth. Factor that could hinder the growth of the botanical supplements market in the future include economic shutdowns.
Asia Pacific was the largest region in the botanical supplements market, accounting for 29.39% or $18.0 billion of the total in 2024. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the botanical supplements market will be Asia Pacific and Middle East where growth will be at CAGRs of 9.61% and 9.50% respectively. These will be followed by Africa and Western Europe where the markets are expected to grow at CAGRs of 9.27% and 8.66% respectively.
The botanical supplements market is segmented by source into leaves, herbs, spices, flowers and other sources. The leaves market was the largest segment of the botanical supplements market segmented by source, accounting for 31.80% or $19.47 billion of the total in 2024. Going forward, the leaves segment is expected to be the fastest growing segment in the botanical supplements market segmented by source, at a CAGR of 9.79% during 2024-2029.
The botanical supplements market is segmented by form into tablets, powder, capsules, liquid, gummies and other forms. The tablets market was the largest segment of the botanical supplements market segmented by form, accounting for 32.92% or $20.15 billion of the total in 2024. Going forward, the powder segment is expected to be the fastest growing segment in the botanical supplements market segmented by form, at a CAGR of 12.12% during 2024-2029.
The botanical supplements market is segmented by application into energy and weight management, bone and joint health, immunity, gastrointestinal health, cardiac health, diabetes, anti-cancer and other applications. The energy and weight management market was the largest segment of the botanical supplements market segmented by application, accounting for 31.76% or $19.44 billion of the total in 2024.
Going forward, the energy and weight management segment is expected to be the fastest growing segment in the botanical supplements market segmented by application, at a CAGR of 11.08% during 2024-2029.
The botanical supplements market is segmented by distribution channel into retail pharmacies, online pharmacies and hospital pharmacies. The retail pharmacies market was the largest segment of the botanical supplements market segmented by distribution channel, accounting for 48.10% or $29.45 billion of the total in 2024. Going forward, the online pharmacies segment is expected to be the fastest growing segment in the botanical supplements market segmented by distribution channel, at a CAGR of 9.19% during 2024-2029.
Market-trend-based strategies for the botanical supplements market include focusing on the development of innovative, science-backed formulations, developing advanced formulations through research and development, introducing new product lines to cater to evolving consumer preferences, such as organic formulations, innovating a platform to develop cutting-edge wellness solutions and developing wellness products to cater to the growing consumer demand for natural health solutions.
The top opportunities in the botanical supplements market segmented by source will arise in the leaves segment, which will gain $11.58 billion of global annual sales by 2029. The top opportunities in the botanical supplements market segmented by distribution channel will arise in the retail pharmacies segment, which will gain $15.56 billion of global annual sales by 2029. The top opportunities in the botanical supplements market segmented by application will arise in the energy and weight management segment, which will gain $13.44 billion of global annual sales by 2029. The top opportunities in the botanical supplements market segmented by form will arise in the tablets segment, which will gain $8.95 billion of global annual sales by 2029. The botanical supplements market size will gain the most in the USA at $6.51 billion.
Player-adopted strategies in the botanical supplements market include focus on expanding operational capabilities through strategic merger and acquisitions, focus on enhancing business capabilities through the launch of new products and focus on enhancing business operations through brand expansion.
To take advantage of the opportunities, the analyst recommends the botanical supplements companies to focus on innovation and personalization, focus on advanced formulations and targeted health benefits, focus on expanding product offerings to meet evolving consumer preferences, focus on innovating sustainable botanical supplements, focus on expanding product portfolios with traditional and natural ingredients, focus on the leaves market segment, focus on powder supplements for growth opportunities, expand in emerging markets, focus on expanding distribution channels for botanical supplements, focus on competitive and value-based pricing for botanical supplements, focus on digital marketing strategies to expand reach for botanical supplement companies, focus on developing referral program to drive organic growth, focus on online pharmacies for growth and focus on energy and weight management segment.
Major Market Trends
- Innovation in Botanical Supplements For Stress and Mood Support
- Advancement in Targeted Botanical Supplement For Multiple Sclerosis and Inflammation Support
- Expansion of Botanical Supplement Offerings To Meet Evolving Consumer Need
- Revolutionizing Market With Innovative Nutri-Tech Platforms For Sustainable Wellness Solutions
- Innovation in Modern Skin Biology With Natural Wellness Products
Key Mergers and Acquisitions
- OmniActive Health Technologies Acquired Enovate Bio Life To Expand Wellness Portfolio
- Kerry Group Acquired Natreon To Expand Consumer Base
- Evonik Acquired Botanica To Strengthen Sustainable Active Ingredients Portfolio
- Bluebird Botanicals Acquired Precision Botanicals To Enhance Hemp and CBD Capabilities
Markets Covered:
- Source: Leaves; Herbs; Spices; Flowers; Other Sources
- Form: Tablets; Powder; Capsules; Liquid; Gummies; Other Forms
- Application: Energy And Weight Management; Bone And Joint Health; Immunity; Gastrointestinal Health; Cardiac Health; Diabetes; Anti-Cancer; Other Applications
- Distribution Channel: Retail Pharmacies; Online Pharmacies; Hospital Pharmacies
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 318 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value (USD) in 2024 | $61.23 Billion |
| Forecasted Market Value (USD) by 2034 | $141.46 Billion |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Global |
Companies Featured
- Nature's Bounty
- GNC Holdings Inc
- Amway Corporation
- Archer Daniels Midland Company
- Glanbia Plc
- Himalaya Wellness Company
- Now Foods
- Gaia Herbs LLC.
- Bio-Botanica Inc
- MegaFood
- Denzour Nutrition
- Organic India
- Dabur India Ltd
- Himalaya Wellness Company
- Kirin Holdings Co., Ltd
- Kenko Corporation
- Umeken Co. Ltd
- Australian Natural Health Pharmaceuticals Pty Ltd
- Ningbo Traditional Chinese Pharmaceutical Corp.
- Hunan Nutramax Inc.
- Shaanxi Jiahe Phytochem Co., Ltd
- Ningbo Traditional Chinese Pharmaceutical Corp
- Hunan Nutramax Inc
- Herbalife
- Nature's Bounty
- Blackmores
- Yotsuba Japan
- Botanic Supplements
- Bon cosmetics co ltd.
- Pulmuone Health & Living
- Pukka Herbs
- Zoe
- Nature's Aid
- Salus Haus
- Pascoe Naturmedizin
- Arkopharma
- Laboratorios Diafarm
- Aboca
- Evalar
- Aflofarm Farmacja
- Herbapol-LublinPolska
- BiofarmBotanical
- Hofigal
- Dacia Plant
- Plafar
- Tilray Brands Inc
- Numi Organic Tea
- Jamieson Wellness
- Natural Factors
- Flora Health
- Irwin Naturals
- Nature's Way
- NOW Foods
- Herbalife
- Herbalife United States
- Nature's Way
- Gaia Herbs
- NutraBlast
- Else Nutrition Holdings Inc
- Botanical Supplements
- Nature's Way Canada
- Organika Health Products
- New Roots Herbal
- Bioforce Canada
- Herbarium
- ADM
- Duas Rodas
- Sabinsa Corporation
- Herbalife Ltd
- Bayer AG
- Pfizer Inc
- Merck KGaA
- Boehringer Ingelheim GmbH
- Kokomodo
- TopGum Industries Ltd.
- Solbar Industries
- Lycored Ltd.
- Shamim Daru Co.
- Tolid Darou Pharmaceutical Company
- Herbal Essence Arabia
- Pure Health Holding PJSC
- iHealth
- Zardband Pharmaceuticals
- Cairo
- Aro Afriglobal Herbal Services
- Natural Nigerian
For more information about this report visit https://www.researchandmarkets.com/r/vxs93r
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