Kenneth Research, in its repository of market research reports, have recently added a report on Botanicals Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Botanicals Marketis anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Botanicals Market products.
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A botanical medicinal product is intended for use in the diagnosis, treatment, mitigation, treatment or prevention of human diseases. A botanical pharmaceutical product consists of plant materials, which may include plant materials, algae, macroscopic fungi or combinations thereof. It may be available as (but not limited to) a solution (eg tea), powder, tablet, capsule, elixir, topical or injection.
Drug-based pharmaceutical products often have unique characteristics, for example complex mixtures, lack of a distinct active ingredient and substantial previous human use. Highly purified or chemically modified fermentation products and botanical substances are not considered pharmaceutical products.
Market Overview and Trends
The recent surge in in use of herbal medicines has led to a sudden increase in herbal manufacturing units. This can be corroborated from the huge requirement of raw materials by the industry. In the last few decades there has been an exponential growth in the field of herbal medicine. It is getting popularized in developing and developed countries owing to its natural origin and lesser side effects. If we look at the data on consumption of botanicals, it foretells the huge demand of herbal drugs. Besides this, there is also a growing demand for natural products including items of medicinal value/pharmaceuticals, food supplements and cosmetics in both domestic and international markets. India with its diversified biodiversity has a tremendous potential and advantage in this emerging area.
Factors Influencing the Market Growth:
• The increasing demand for botanical products.
• The nature care in health, food, cosmetics, personal care products, etc. is becoming popular due to its known benefits and lesser or no side effects.
• The global trade of natural products is estimated to grow three times by 2020.
• The increasing investment and business opportunities in the herbal industry
Factors Restraining the Market Growth:
• Lack of lack of scientific back up for the therapeutic claims
• Assessment of the risk to human health is complicated, and an international scientific agreement concerning the best strategy for the risk assessment of genotoxic and carcinogenic compounds is still lacking
Market Segmentation 2019-2029:
The Botanicals market is segmented on the Intervention (Ayurveda, Naturopathy & Homeopathy), By Distribution Channel (Direct Sales, E-commerce), By Region And Segment Forecasts
• Botanicals by Intervention Type
• Distribution Channel Covered:
– Direct Sales
Intervention & Distribution Channel Types Covered:
• Botanicals by Intervention Type Market 2019-2029
• Botanicals Ayurveda Market 2019-2029
• Botanicals Naturopathy Market 2019-2029
• Botanicals Homeopathy Market 2019-2029
• Botanicals Market by Distribution Channel 2019-2029
• Botanicals Direct Sales Market 2019-2029
• Botanicals E-Commerce Market 2019-2029
Focused regional forecasts and analysis explore the future opportunities:
• North America Market, 2019-2029
• Europe Market, 2019-2029
• Asia-Pacific Market, 2019-2029
• LAMEA Market, 2019-2029
• Research and development is the primary strategy adopted by the key players in the Botanicals market.
• These companies have developed various strategies and developments such as product launch, partnerships, mergers & acquisitions, joint venture, and collaborations.
Major Market Players:
Dabur, Ricola, Herbalife, Himalaya, Omega Protein Corp., Amway, Bayer AG, Naturalife Asia Co., Himalaya Drug Company NBTY Inc. and Bio-Botanica Inc.
Key questions answered by this report:
• What is the current size of the total global Botanicals market?
• How much will this market be worth from 2018 to 2029?
• How is the Botanicals market evolving?
• What is driving and restraining the Botanicals market?
• What are the market shares of each segment of the overall Botanicals market currently and how will these change to 2029?
• What are the main submarkets and how much revenue will each Botanicals market submarket account for over the next 10 years to 2029 and why?
• How will the market shares for each Botanicals market submarket develop from 2018 to 2029?
• Who are the leading players and what are their prospects over the forecast period?
• How will the industry evolve to 2029?
• What are the largest national markets for Botanicals market? What is the current status and how will it develop over the next ten years? What are their forecasts for 2019-2029?
• Who are the most prominent companies, and what are their activities and outlooks?
• What are the main trends that will affect the Botanicals market between 2018 and 2029?
Visiongain’s study is intended for anyone requiring commercial analyses for the Botanicals market. You find data, trends and predictions.
Buy our report today Botanicals Market 2019-2029: By Intervention (Ayurveda, Naturopathy & Homeopathy), By Distribution Channel (Direct Sales, E-commerce), By Region and Segment Forecasts
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