Published by Coherent Market Insights
Posted on September 24, 2021
3 min readLast updated: February 2, 2026
The botanical supplements market is set to grow from $83.5 Bn in 2019 to $150.1 Bn by 2027, driven by health awareness and R&D funding.
The global botanical supplements market was valued at US$ 83.5 Bn in 2019 and is forecast to reach a value of US$ 150.1 Bn by 2027 at a CAGR of 7.5% between 2020 and 2027.
The botanical supplements are popularly known as herbal medicinal products and are in high demand due to growing consumer awareness about health and wellness. Botanical supplements include, fresh or dried products in different forms such as tablets, capsule, powder and tea bags. Garlic, ginger, santalum, plantago, ginseng, rhodiola extract, red clover extract, and soy extract are some of the widely-used botanical supplements across the globe.
Government funding for R&D in botanical supplements is expected to offer lucrative growth opportunities for players in the global botanical supplements market. For instance, in June 2020, The National Institutes of Health awarded US$ 6 million to Oregon Health & Science University to establish a research center for botanical dietary supplements.
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Global Botanical Supplements Market: Competitive Landscape
Major players operating in the global botanical supplements market include, ChromaDex, Inc., Nutraceutical International Corporation, NBTY, Inc., Surya Herbal, Ltd., BASF SE, NaturaLife Asia Co., Ltd., Bio-Botanica Inc., HERBALIFE Nutrition, Archer Daniels Midland Company (ADM), Integrated BioPharma, Inc., The Himalaya Drug Company, Ricola AG, MMJ International Holdings, and Pharmavite LLC.
Key Takeaways:
The global botanical supplements market was valued at US$ 83.5 Bn in 2019 and is forecast to reach a value of US$ 150.1 Bn by 2027 at a CAGR of 7.5% between 2020 and 2027. Major factor driving the growth of global botanical supplements market during the forecast period include increasing prevalence of chronic disorder, and increasing geriatric population.
Pharmaceutical application held dominant position in the global botanical supplements market in 2019, accounting for 47.8% share in terms of value, followed by Food and beverages and Personal care, respectively.
Key Developments
Major players in the global botanical supplements market are focused on adopting M&A strategies to expand their product portfolio. For instance, in August 2018, Archer Daniels Midland Company (ADM) acquired Probiotics International Limited–known under its umbrella brand Protexin–a UK-based manufacturer of natural healthcare and probiotic supplements for human, pet and production-animal use.
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The post Botanical Supplements Market Players Focus on Executing Business Expansion Activities appeared first on Gatorledger.
The article discusses the growth and expansion strategies in the global botanical supplements market.
Increasing health awareness and government R&D funding are key drivers of market growth.
Major players include ChromaDex, Inc., Nutraceutical International Corporation, and HERBALIFE Nutrition.
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