The botanical supplements market is witnessing strong growth due to growing health wellness trend

The botanical supplements are fast replacing the animal proteins, vitamins, and minerals in pharmaceuticals. The pharmaceutical industry is today witnessing a boom in the sales of botanical supplements that are derived from plant extracts.

Growing health awareness among the consumer due to the rising health wellness trend is driving the growth of the botanical supplements market. Increasing consumption of supplements for treating anxiety issues and insomnia is again contributing to the market growth. Moreover, the easy availability of these supplements over the counter due to shifting consumer preferences towards self-medication is also projected to favor market growth. The rise in the geriatric population is increasing the prevalence of various chronic diseases which is further propelling the demand for botanical supplements. According to the World Health Organization, by 2050, the world's population aged 60 years and older is expected to total 2 billion, up from 900 million in 2015. 

botanical supplements market

 

From the geographical point of view, North America is projected to gain significant growth over the forecast period and this is attributed to the high prevalence of disease coupled with the growing demand for herbal products. According to the National Health Council, chronic diseases affect approximately 133 million Americans, representing more than 40% of the total population of this country.2 By 2020, that number is projected to grow to an estimated 157 million, with 81 million having multiple conditions.

Key Developments:

  1. In February 2020, Innophos Holdings, Inc., an international producer of essential ingredients, announced the launch of Oxyjun® Terminalia arjuna aqueous extract, expanding its portfolio of targeted sports performance and active nutrition ingredients.

  2. in June 2020, Netsurf Network has launched three new herbal healthcare supplements under its healthcare category ‘Naturamore’ to deal with various lifestyle disorders such as high blood pressure, heart disease, diabetes, obesity, depression, or anxiety.

  3. In December 2019, Amway India, a direct selling FMCG companies expanded its popular Nutrilite Traditional Herbs range with the launch of Nutrilite Madhunashini, Shunti & Twak, and Nutrilite Vasaka, Mulethi & Surasa.

  4. In October 2019, Farlong Pharmaceutical, a vertically integrated, plant-based ingredient and supplement company launched a new product, Steamed Notoginseng Powder. This herbal supplement is claimed to nourish the blood, relieve fatigue, improve immunity, and promotes radiant skin

  5. In March 2018, Amway has launched traditional herbs range under its nutraceutical product brand Nutrilite. The Nutrilite Traditional Herbs range comprises of four products – Nutrilite Tulsi, Nutrilite Brahmi, Nutrilite Ashwagandha and Nutrilite Amalaki, Vibhitaki, and Haritaki.







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