SAN FRANCISCO, Oct. 14, 2020 /PRNewsCentre/ — The global botanical supplements market size is projected to reach USD 49.36 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.4% from 2020 to 2027. Growing awareness among consumers concerning the health benefits related to the consumption of botanical supplements is predicted to boost the growth of the market.
The market is expected to witness significant growth over the forecast period owing to changing lifestyles, rapid urbanization, rising health consciousness, and increasing per capita income. In addition, lifestyle diseases such as malnourishment, overweight, and blood pressure, coupled with the high cost of medical treatments, are expected to create health awareness among consumers, which, in turn, is anticipated to fuel the product demand.
Key suggestions from the report:
Read 150 page research report with ToC on "Botanical Supplements Market Size, Share & Trends Analysis Report By Source (Leaves, Flowers), By Form (Tablets, Liquid), By Application (Energy & Weight Management, Anti-cancer), By End-use, By Region, And Segment Forecasts, 2020 – 2027” at: https://www.grandviewresearch.com/industry-analysis/botanical-supplements-market
Supplements are primarily consumed to ensure the intake of nutritional constituents that are important for the human body. Increasing occurrences of cardiovascular diseases owing to the slow and inactive lifestyle, particularly in the age group of 30 to 40 years, and fluctuating dietary patterns are projected to boost the market growth over the next few years
The demand for plant-based nutrients is witnessing an increase owing to the presence of phytochemicals, which help in protecting against various forms of cancer, including larynx, pharynx, mouth, lung, and esophagus. Phytochemicals are biologically active compounds that protect the cells from damage that can lead to cancer.
As interest in a vegetarian and vegan lifestyle continues to gain momentum, the botanical supplement industry continues to expand products, which will aid this dietary paradigm. Moreover, plant-based ingredients are appearing more often in several variants of health foods, with product indications for weight management and athletic performance increasing in popularity. This, in turn, has led to an upsurge in R&D in botanical supplements for various fields, including performance nutrition.
Rising concerns associated with glutamic disorders among the millennial population in countries, such as Germany and the U.S., are expected to boost industry growth. In addition, growing awareness about type 2 diabetes and Cardiovascular Diseases (CVDs) is projected to have a positive influence on market growth.
Grand View Research has segmented the global botanical supplements market on the basis of source, form, application, end-use, and region:
List of Key Players of Botanical Supplements Market
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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SOURCE: Grand View Research, Inc.