BOTANICAL SUPPLEMENTS MARKET ANALYSIS

Market Challenges And Opportunities

Global Botanical Supplements Market- Restraints

• Low adoption in some emerging and developing countries: No standardization of botanical supplements is expected to hinder the growth of the Global Botanical Supplements Market. Adoption of botanical supplements low in Brazil, China, Japan, and Indonesia which hinder the market growth.
• False advertising and a lack of regulation: The market's growth is predicted to be constrained by the absence of strict rules and regulations governing the efficacy and safety of botanical health supplement products. The number of false health claims made in order to promote products has dramatically increased as a result of manufacturers paying less attention to product labeling and safety. These factors have affected how consumers view botanical supplements, which is anticipated to have some negative effects on the market's expansion.
• Counterbalances: The U.S. Food and Drug Administration (FDA) regulates botanical drugs in the same way as other over-the-counter or prescription pharmaceutical drugs. The botanical supplements need to be clinically proven to treat, cure, or prevent a medical condition. Botanical preparations are regulated as dietary supplements.

Global Botanical Supplements Market- Opportunities 

Alternative supplement options: Government funding for Research and Development 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.Moreover, the development of personalized botanical supplements is also expected to aid in growth of the market.