New York: Persistence Market Research has announced the release of a report titled “Global Botanical Supplements Market Will Reach $90.2 Billion in 2020”. This report states that growing at a CAGR of 7.5% from 2014 to 2020, the global botanical supplements market will reach US$90.2 billion in 2020 from US$54.6 billion in 2013.
The global botanical supplements market is driven by greater preference for healthy food and food products which promote health benefits. Botanical supplements are a very good option for those consumers who aim at adopting a healthy lifestyle, and also prevent illnesses and diseases. The botanical supplements market offers dried or fresh products which come in different forms like powders, tablets, tea bags, and capsules. The most extensively used botanical products include plantago, garlic, ginseng, ginger, and extracts of soy, red clover, and rhodiola. The global botanical supplements market is segmented on the basis of application, end-users, and geography. Personal care, food and beverages, and pharmaceuticals are the three application segments in this market. On the basis of end-users, the global botanical supplements market is classified into baby boomers, adult men and women, and others.
Geographically, the global botanical supplements market is classified into Europe, the Asia Pacific, North America, and Rest of the World. The botanical supplements market is led by Europe, which is then followed by the Asia Pacific. The Asia Pacific botanical supplements market is driven by greater urbanization, greater economic development, and the long-standing tradition of botanical medicine in these regions. The top eight participants hold a total market share of almost 40% in the global botanical supplements market. Furthermore, the report finds that this market is highly fragmented. Procter and Gamble and Ricola are the two major companies operating in the global botanical supplements market.
Browse Full Report Press Release: http://www.persistencemarketresearch.com/mediarelease/botanical-supplements-market.asp
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