Market Research Report
Herbal supplements are herbal health products attained from leaf, bark, seed, shell and various other parts of plants which contains specific characteristics. Herbal supplements which are planned to deliver the nutrients which may not be consumed in adequate measures by consumer due to lack of knowledge or unbalance diet. There are numerous types of herbal supplements accessible in the market which assists in boosting specific functionality in the human body. Herbal supplements for antioxidant, anti-aging and weight loss properties are extremely in demand across the globe. Obtainability of herbal supplements in various delivery format and enhancement in distribution channels will change the market dynamics in upcoming years.
Growing expenditure on health and wellness and mounting disposable income levels, specifically in the developing nations, are likely to increase the demand for herbal supplements globally. The preference for buying health and wellness products as related to luxury goods among the consumers is growing. Herbal supplements help sustain cholesterol levels, regulate the digestive system, and reduce stress. Thus, growing consciousness about the health benefits presented by these products is also expected to accelerate the market development.
The report analyses the global herbal supplements market based on product, formulation, application, consumer type and geography.
Herbal Supplements Market by Product
Moringa, Echinacea, Flaxseeds, Turmeric and Others (Ginger,Ginseng) are the major types of herbal supplement products commercially available in the market. As per the HerbalGram data published in 2017, Echinacea is the utmost projecting and third most popular herbal supplement in the conventional retail distribution network in U.S. Increase in the number of clinical studies representing the health benefits of Echinacea also accelerated their demand, which, in turn, contributed to the segment’s maximum revenue share. However, turmeric supplement segment is likely to record the fastest growth rate over the forecast period. Growing significance of turmeric for therapeutic purposes along with wide clinical studies signifying the effectiveness of turmeric supplements are the major features driving the segment growth. Turmeric can also be used for the management of hyperlipidemia, anxiety, metabolic syndrome, and inflammatory and oxidative conditions.
Herbal Supplements Market by Formulation
Capsule, Liquid, Tablet, Powder among others are the various types of formulation covered in the report. The capsule formulation segment is expected to dominate herbal supplements market owing to the accessibility of a variety of herbal supplements in various sizes based on dosage in this form. Majority of the consumers of herbal supplements favor capsules over tablets because of the ease of swallowing and lesser irritation to the GI tract. Furthermore, herbal supplements may also be comprised of actual leaves, root powder, or extracts, which can be expediently filled in capsules. Thus, capsule is the most preferred formulation.
Herbal Supplements Market by Application
The market finds major applications in Pharmaceuticals, Personal Care, F&B and Others. Among all the applications, the pharmaceutical segment is the major application segment. Pharmaceutical segment recorded the highest CAGR from 2020 to 2025. The R&D in the global herbal supplement market delivers massive business opportunities for the key players.
Herbal Supplements Market by Consumer Type
The various consumers of the herbal supplements include Pregnant Women, Adults, Pediatric and Geriatric. The danger of developing lifestyle diseases, such as diabetes and obesity, is advanced among the consumers of this age group, and hence they rely on herbal supplements for the disease management. Besides, because of their medicinal properties, these supplements are utilized in disease prevention and ongoing trend of preventive healthcare among this age group will drive the segment growth.
Herbal Supplements Market by Geography
Geographically, this market is studied for major countries of North America, Europe, Asia-Pacific and Rest of the World. North America is evaluated to be the largest regional market for Herbal Supplements throughout the forecast period. North America is one of the foremost income-generating regions in the Herbal Supplements market. The swelling public-private investments in the Herbal Supplements industry in the US and Canada, ongoing technological progressions in Herbal Supplements, and the presence of major market players in the region are the major factors driving the growth of the Herbal Supplements market in North America.
The major players involved in this market are Glanbia PLC, Archer Daniels Midland Company, Nutraceutical International Corporation, Herbalife International of America Inc., Blackmores Limited, Ricola AG, Bio-Botanica Inc., Nbty Inc., Arizona Natural Products and Naturalife Asia Co., Ltd. among others. The competitive rivalry is likely to remain high over the forecast period as the key players struggle to develop better-finished products at competitive raw material prices.
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The report analyses the global herbal supplements market based on product, formulation, application, consumer type and geography. Moringa, Echinacea, Flaxseeds, Turmeric and Others (Ginger,Ginseng) are the major types of herbal supplement products commercially available in the market. Capsule, Liquid, Tablet, Powder among others are the various types of formulation covered in the report. The market finds major applications in Pharmaceuticals, Personal Care, F&B and Others. The various consumers of the herbal supplements include Pregnant Women, Adults, Pediatric and Geriatric. Geographically, this market is studied for major countries of North America, Europe, Asia-Pacific and Rest of the World. North America is evaluated to be the largest regional market for Herbal Supplements throughout the forecast period.
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