Herbal Supplements Market – Global Industry Analysis and Forecast (2023-2029)

Herbal Supplements Market size was valued at US$ 87.07 Bn. in 2022. Capsules and Tablets, one of the segments reviewed in our reports dominated the Herbal Supplements Market.

Herbal Supplements Market Overview:

Herbal dietary supplements, also known as plants or botanicals, are a type of dietary supplement for therapeutic applications. These dietary supplements are derived from plants and are mainly used to improve health. Herbal supplements are made up of active ingredients extracted from herbs. These dietary supplements are commercially available in the form of tablets, capsules, powders, or liquids and have medicinal properties. They are mainly used to treat various illnesses due to their medicinal properties.Herbal Supplements MarketTo know about the Research Methodology :- Request Free Sample Report

Herbal Supplements Market Dynamics:

An increasingly sedentary lifestyle forces consumers to lead healthy lives. The number of mental and health disorders is increasing. More and more people are looking for safer, healthier, and more economical alternatives. Herbal food supplements are becoming more important due to growing consumer awareness. Herbal dietary supplements are slowly and steadily gaining consumer trust around the world. They are ready to include herbal supplements in their daily diet. These factors are driving the demand for the product in the market. High medical costs, sluggish lifestyles, tight government budgets, and rising prices for medical and diet products have led consumers to switch to more economical options such as herbal supplements. Herbal remedies have proven to be the safest alternatives for permanent relief from physical and mental disorders. This is one of the key factors driving the market growth of herbal supplements. Herbal supplements claim to be natural. However, this is not always the case. It is always advisable to use these products after thorough consultation with an herbalist or doctor as they can cause a variety of harmful side effects. Herbal supplements have been used for decades for their medicinal properties and treatment of various illnesses. Many people around the world are switching to herbal supplements for additional health benefits. Herbal supplements are natural non-food substances and non-pharmaceuticals used to improve health. Herbal food supplements are made from plant-based ingredients and have few or no side effects. Demand for herbal dietary supplements is increasing thanks to the natural label that attracts health-conscious and health-promoting customers. The rising trend in diet and drug prices are driving the growth of the global herbal dietary supplement. The rising aging population increased consumption of dietary supplements and a focus on healthy lifestyles and rising health care trends. Other factors, such as increased demand for dietary supplements and side effects of symptomatic medications, are also driving the market growth. Increasing awareness of personalized or bespoke nutritional products and the concept of these nutritional supplements have stimulated consumer interest in different parts of the world and have a positive impact on the market growth of herbal supplements. Technological advances and increased investment in dietary supplements and research and development of dietary supplements are expected to further drive market growth through the forecast period. Athletes are increasingly interested in sports nutrition products and dietary supplements to improve endurance and performance. Trends in sports nutrition products and vitamin supplements due to their endurance and performance-enhancing factors will drive the market growth rapidly. Strict regulatory policies are now also applied to herbal supplements and are one of the main limiting factors in market growth. Product availability and acceptance, delivery style, and product price are several other factors that can negatively impact the overall market. Market trends and challenges are analyzed and compiled in the report. The data of 2022 is considered for a better understanding of the client. Moreover, Analytics of the market is based on real numbers of past years from 2018 to 2022 with market forecast until 2029.

Herbal Supplements Market Segment Analysis:

By Form, Capsules and tablets dominated the market in 2022 with a 50% share. Availability of a wide variety of herbal dietary supplements in different sizes based on this form of dosage. High affordability for tablets and capsule supplements, convenient packaging, and longer shelf life. Consumers of herbal supplements prefer capsules because they are easier to swallow and less irritating to the digestive tract. The powder segment is expected to grow at a CAGR of 6.5% through the forecast period. Powder formulations are available in higher concentrations and have higher absorption rates compared to tablets and other forms. Increasing demand for herbal products such as granular tea bags and increasing demand for protein supplements as most of the protein supplements available on the market are in powder form. These factors are expected to drive the market through the forecast period. By Function, the Medicinal segment dominated the market with a 60 % share in 2022. Medicinal benefits of herbal with no side effects have high demand and the growing geriatric population have increased spending on health as well as wellness. Rising of herbals has led to the manufacturing of medical drugs and the usage of various medicinal herbs for pharmaceutical companies. The aroma segment is expected to grow at a CAGR of 4 % through the forecast period. Increasing the use of herbal supplements for flavor, scent, and therapeutic sessions are expected to drive the market growth of the segment through the forecast period. By Consumer, the Adult segment dominated the market with a 42 % share in 2022. Trends in natural dietary supplements, high purchasing power, and spending on health, wellness products, and the largest consumer base of herbal products belong to this age group. The risk of developing civilized illnesses such as diabetes and obesity is higher among consumers in this age group, which is why they rely on herbal dietary supplements to treat their illnesses. These dietary supplements are used to prevent illness because of their medicinal properties. These factors are driving the growth of the segment in the market. The pregnant women segment is expected to grow at a CAGR of 8 % through the forecast period. Increasing awareness of the therapeutic properties of these products increased preference for natural products during pregnancy. These factors are expected to drive the growth of the segment in the market through the forecast period.Herbal Supplements Market

Herbal Supplements Market Regional Insights:

Asia Pacific region dominated the market with a 40 % share in 2022. The high acceptance of traditional medicine for the treatment of various diseases and the presence of a large elderly population base with increased exports of herbal products. China and India are major exporters of herbal dietary supplements. A growing awareness of the concept of personalized nutrition is expected to improve the consumer base of dietary supplements and increase lifestyle-related diseases, increased alcohol and tobacco consumption, and reduced physical activity due to westernized diets. These factors are driving the market growth of herbal supplements in this region. The north American region is expected to grow at a CAGR of 5.7 % through the forecast period. The prevalence of lifestyle-related diseases such as obesity and diabetes, aging populations, busy lifestyles, and a positive attitude towards preventative health measures are driving the demand for herbal supplements in this region. Adoption of dietary supplements is very high due to the growing presence and health focus of fitness enthusiasts who are willing to buy health-enhancing products. Regulatory attention to the commercialization of these products has increased. These factors are expected to drive the market growth of herbal supplements in this region through the forecast period. The objective of the report is to present a comprehensive analysis of the Herbal Supplements market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Herbal Supplements market dynamics, structure by analyzing the market segments and projecting the Herbal Supplements market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Herbal Supplements market make the report investor’s guide.

Herbal Supplements Market Scope: Inquire before buying

Herbal Supplements Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 87.07 Bn.
Forecast Period 2023 to 2029 CAGR: 7.21% Market Size in 2029: US $ 141.75 Bn.
Segments Covered: by Form Powder Syrups Oils Capsules & Tablets
by Function Aroma Medicinal
by Consumer Pregnant women Adult Pediatric Geriatric

Herbal Supplements Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Herbal Supplements Market Key Players are:

1. Archer Daniels Midland Company 2. Glanbia PLC 3. Herbalife International of America, Inc. 4. Blackmores Limited 5. Nutraceutical International Corporation 6. Nbty, Inc. 7. Arizona Natural Products 8. Ricola AG 9. Naturalife Asia Co., Ltd. 10.Bio-Botanica Inc. 11.Jarrow Formulas, Inc. 12.Herbochem 13.Nutrova 14.Third Coast Herb Co. 15.Healthy Origins USA 16.NOW Health Group, Inc. 17.Swanson Health

Frequently Asked Questions:

1. Which region has the largest share in Global Herbal Supplements Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Herbal Supplements Market? Ans: The Global Herbal Supplements Market is expected to grow at a CAGR of 7.21% during forecast period 2023-2029. 3. What is scope of the Global Herbal Supplements market report? Ans: Global Herbal Supplements Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Herbal Supplements market? Ans: The important key players in the Global Herbal Supplements Market are –Archer Daniels Midland Company, Glanbia PLC, Herbalife International of America, Inc., Blackmores Limited, Nutraceutical International Corporation, Nbty, Inc., Arizona Natural Products, Ricola AG, Naturalife Asia Co., Ltd., Bio-Botanica Inc., Jarrow Formulas, Inc., Herbochem, Nutrova, Third Coast Herb Co., Healthy Origins USA, NOW Health Group, Inc., and Swanson Health. 5. What is the study period of this market? Ans: The Global Herbal Supplements Market is studied from 2022 to 2029.
1. Global Herbal Supplements Market: Research Methodology 2. Global Herbal Supplements Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Herbal Supplements Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Herbal Supplements Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Herbal Supplements Market Segmentation 4.1. Global Herbal Supplements Market, by Form (2022-2029) • Powder • Syrups • Oils • Capsules & Tablets 4.2. Global Herbal Supplements Market, by Function (2022-2029) • Aroma • Medicinal 4.3. Global Herbal Supplements Market, by Consumer (2022-2029) • Pregnant women • Adult • Pediatric • Geriatric 5. North America Herbal Supplements Market(2022-2029) 5.1. Global Herbal Supplements Market, by Form (2022-2029) • Powder • Syrups • Oils • Capsules & Tablets 5.2. Global Herbal Supplements Market, by Function (2022-2029) • Aroma • Medicinal 5.3. Global Herbal Supplements Market, by Consumer (2022-2029) • Pregnant women • Adult • Pediatric • Geriatric 5.4. North America Herbal Supplements Market, by Country (2022-2029) • United States • Canada • Mexico 6. European Herbal Supplements Market (2022-2029) 6.1. European Herbal Supplements Market, by Form (2022-2029) 6.2. European Herbal Supplements Market, by Function (2022-2029) 6.3. European Herbal Supplements Market, by Consumer (2022-2029) 6.4. European Herbal Supplements Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Herbal Supplements Market (2022-2029) 7.1. Asia Pacific Herbal Supplements Market, by Form (2022-2029) 7.2. Asia Pacific Herbal Supplements Market, by Function (2022-2029) 7.3. Asia Pacific Herbal Supplements Market, by Consumer (2022-2029) 7.4. Asia Pacific Herbal Supplements Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Herbal Supplements Market (2022-2029) 8.1. Middle East and Africa Herbal Supplements Market, by Form (2022-2029) 8.2. Middle East and Africa Herbal Supplements Market, by Function (2022-2029) 8.3. Middle East and Africa Herbal Supplements Market, by Consumer (2022-2029) 8.4. Middle East and Africa Herbal Supplements Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Herbal Supplements Market (2022-2029) 9.1. South America Herbal Supplements Market, by Form (2022-2029) 9.2. South America Herbal Supplements Market, by Function (2022-2029) 9.3. South America Herbal Supplements Market, by Consumer (2022-2029) 9.4. South America Herbal Supplements Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. Archer Daniels Midland Company 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Glanbia PLC 10.3. Herbalife International of America, Inc. 10.4. Blackmores Limited 10.5. Nutraceutical International Corporation 10.6. Nbty, Inc. 10.7. Arizona Natural Products 10.8. Ricola AG 10.9. Naturalife Asia Co., Ltd. 10.10. Bio-Botanica Inc. 10.11. Jarrow Formulas, Inc. 10.12. Herbochem 10.13. Nutrova 10.14. Third Coast Herb Co. 10.15. Healthy Origins USA 10.16. NOW Health Group, Inc. 10.17. Swanson Health
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