The Latin America, Middle East and Africa Botanical Supplements Market would witness Market growth of 14.4% CAGR during the forecast period (2022-2028).
Consumers are shifting their dietary preferences in favor of foods and food ingredients with possible health advantages as a result of their interest in healthy eating. Botanical supplements are among the finest solutions for customers aiming to live a healthy lifestyle and lower their risk of illness. The growing popularity of botanical products among consumers of various demographics is projected to affect future supplement growth in favor of botanicals. Millennials in both developing and developed nations are well aware of the perceived health benefits of botanical supplements. The category is a significant demographic for botanical supplement firms.
The South American Market has seen significant expansion in recent years, owing to a number of factors such as rising middle-class populations, increased acceptance of healthier lifestyles among the population, and more product releases throughout the region. Along with traditional supplements, demand for botanical supplements is increasing rapidly in countries like Brazil and Argentina, which is a favorable element for the Market 's growth. Furthermore, in MEA nations like South Africa, the United Arab Emirates, Saudi Arabia, and others, rising consumer desire to lower their risk of sickness and rising health expenditure is expected to drive Market expansion.
The African region which is home to a large number of people who do not get access to proper nutrition is bound to be a potential Market for botanical supplements. The land in this region is not particularly great for farming, thus leading to the widespread hunger and malnutrition crisis in the region. These supplements will provide these people with sufficient necessary vitamins and minerals. The case is similar with people living in the Middle Eastern region.
The Brazil Market dominated the LAMEA Botanical Supplements Market by Country in 2021, and would continue to be a dominant Market till 2028; thereby, achieving a Market value of $1.3 billion by 2028. The Argentina Market is poised to grow at a CAGR of 15% during (2022 - 2028). Additionally, The UAE Market would witness a CAGR of 14.1% during (2022 - 2028).
Based on Source, the Market is segmented into Leaves, Spices, Herbs, Flowers, and Others. Based on Form, the Market is segmented into Tablets & Capsules, Powder, Liquid, Gummies, and Others. Based on Application, the Market is segmented into Energy & Weight Management, General Health, Bone & Joint Health, Cardiac Health, Immunity, Gastrointestinal Health, Diabetes, Anti-cancer, and Others. Based on Distribution Channel, the Market is segmented into Online and Offline. Based on countries, the Market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Botanical Supplements Market is Predict to reach $55.7 Billion by 2028, at a CAGR of 8.9%
The Market research report covers the analysis of key stake holders of the Market . Key companies profiled in the report include Ricola Group Ltd., Nutraceutical Corporation, Blackmores Limited, Dabur India Ltd., Mondelez International, Inc., The Procter and Gamble Company, Glanbia PLC, BASF SE, The Bountiful Company (Nestlé SA), and The Himalaya Drug Company (Himalaya Global Holdings Ltd.)
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