US Botanical Supplements Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.24 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Botanical Supplements Market Analysis
United States botanical supplements market is expected to grow with a CAGR of 6.24% during the forecast period (2020 - 2025).
- The consumer awareness about botanical variants and their functional properties have been a key driver for the market prosperity.
- The growth rate of botanical supplements is primarily driven by factors, such as rising inclination toward natural products and growing awareness of preventive healthcare supported by increasing spending on health and wellness.
- The increasing geriatric population, coupled with the rising prevalence of chronic conditions, is anticipated to drive the growth of botanical products across the country.
US Botanical Supplements Market Trends
This section covers the major market trends shaping the US Botanical Supplements Market according to our research experts:
The Growing Popularity of Plant Sourced Products
The supplement market has been witnessing a shift in consumer demand from animal-based products to plant-based products. An increasing number of consumers have been demanding these products, either for medical reasons or as a healthy lifestyle; as a result, the current generation of vegetarian food products continues to expand. The consumers have been actively trying to incorporate more plant-based foods into their diets. This suggests that plant-based options appeal to significantly more people than just those who follow vegetarian diets and those who follow vegan diets. Studies depict around 40% of the population in the United States have started incorporating plant-based foods in their diets, owing to the rising consumer inclination toward healthy lifestyles, along with various initiatives taken by the government bodies. The Herb Market Report published by the American Botanical Council states that, in 2017, the US retail sales of herbal supplements grew by 8.5%, and this represents the strongest US sales growth for herbal supplements in more than 15 years. Botanical supplements with organic and non-GMO labeling have been gaining more popularity, as consumers are becoming more conscious about the sourcing of ingredients.
Powdered Supplements are the Fastest Growing Market Segment in the Country
Dried powdered extracts are the most effective botanical preparation. The botanical powder manufacturing process preserves all active components of the base material. They are also easy to take and portable, thereby, making them the most adaptable format of botanical products. The commonly used botanical raw materials in the United States include black cohosh, echinacea, garlic, ginkgo, saw palmetto, and St. John's wort. Botanical supplements are no longer a niche category and are supplemented for various health benefits, such as improve the immune system, anti-inflammatory power, depression treatment, skincare benefits, and to boost mental health. Dried powdered extracts are the most effective botanical preparation. The botanical powder manufacturing process preserves all active components of the base material. They are also easy to take and portable, thereby, making them the most adaptable format of botanical products. Innovations are being made in botanical supplement delivery formats. The new delivery technologies that protect strains and deliver them with greater accuracy has become an important part of the various types of supplements category. Direct dose powders are among the new and interesting formats, which have been becoming popular.
US Botanical Supplements Industry Overview
The botanical supplements market is competitive and comprises of regional and international competitors. Partnerships, mergers and acquisitions, new product launches, and innovations are the major strategies adopted by companies. Expansion and new product launches are the other major strategies adopted. The giants of the market have been progressively relying on product innovation as the most adopted strategy among others. The extensive investment in R&D had been witnessed in the past years, which has led to the introduction of numerous new products to hit the market. The leading players have an upper edge and continue to dominate the market. The major global players have an easy reach due to high brand awareness among consumers, which promotes their market reputation.
US Botanical Supplements Market Leaders
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Nature's Bounty Co.
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Amway Corporation
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GNC Holdings Inc.
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NOW Foods
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Herbalife International of America, Inc.
*Disclaimer: Major Players sorted in no particular order
US Botanical Supplements Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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3.1 Market Overview
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Form
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5.1.1 Powdered Supplements
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5.1.2 Capsules and Tablets
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5.1.3 Other Forms
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5.2 By Distribution Channel
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5.2.1 Supermarket/Hypermarket
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5.2.2 Pharmacies/ Drug Stores
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5.2.3 Online Retail Stores
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5.2.4 Other Distribution Channels
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6. COMPETITIVE LANDSCAPE
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6.1 Most Active Companies
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6.2 Most Adopted Strategies
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6.3 Market Share Analysis
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6.4 Company Profiles
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6.4.1 Nature's Bounty Co.
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6.4.2 Amway Corporation
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6.4.3 GNC Holdings Inc.
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6.4.4 NOW Foods
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6.4.5 Herbalife International of America, Inc.
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6.4.6 Dr. Willmar Schwabe GmbH & Co. KG
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6.4.7 Gaia Herbs LLC
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
US Botanical Supplements Industry Segmentation
The United States botanical supplements market is segmented by form into powdered supplements, capsules and tablets, and other forms. The market is also segmented by distribution channel into supermarket/hypermarket, pharmacies/ drug stores, online retail stores, and other distribution channels.
| By Form | |
| Powdered Supplements | |
| Capsules and Tablets | |
| Other Forms |
| By Distribution Channel | |
| Supermarket/Hypermarket | |
| Pharmacies/ Drug Stores | |
| Online Retail Stores | |
| Other Distribution Channels |
US Botanical Supplements Market Research FAQs
What is the current United States Botanical Supplements Market size?
The United States Botanical Supplements Market is projected to register a CAGR of 6.24% during the forecast period (2024-2029)
Who are the key players in United States Botanical Supplements Market?
Nature's Bounty Co., Amway Corporation, GNC Holdings Inc., NOW Foods and Herbalife International of America, Inc. are the major companies operating in the United States Botanical Supplements Market.
What years does this United States Botanical Supplements Market cover?
The report covers the United States Botanical Supplements Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Botanical Supplements Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States Botanical Supplements Industry Report
Statistics for the 2024 United States Botanical Supplements market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. United States Botanical Supplements analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
