The global herbal
supplements market is set to witness growth at a CAGR of 7.8% and top
a valuation of USD 190.2 Bn by 2032.
Consumer awareness of the
medicinal benefits of consuming herbal supplements, particularly among the
elderly population, is expected to be among the key drivers of market
development. The growth in female herbal supplement customers, as well as an
increase in the use of herbal products by the youth demographic, has fueled the
global market for herbal supplements.
The pharmaceutical sector of the
herbal supplement industry has far more volume. The herbal supplement markets
in North America and Asia-Pacific are expected to grow significantly. In these
sectors, the medical industry’s development will assist the herbal supplement
industry. Due to the growing desire for herbal remedies, some of the world’s
most well-known pharmaceutical companies are doing research on a variety of
herbal supplements.
The herbal supplement market in
places like Latin America and Asia will grow as a consequence of their
initiatives. In Asia Pacific, alternative medicinal items such as traditional
Asian and Ayurveda therapy are in significant demand. Additionally, consumption
of herbal remedies has risen as the pharmaceutical sector in emerging countries
such as India and China have expanded significantly. Furthermore, continuous
demand from countries such as Europe would boost the market’s rise.
Overweight and ageing population
are on the rise all across the world. As a result, herbal supplements for
medicinal purposes are becoming increasingly popular. The whole herbal
supplement market is benefiting from a rise in sedentary lifestyles, higher
consumption of healthier meals, and increased health-care knowledge. Other
major factors driving the herbal products market comprise rising disposable
income in emerging countries, increased awareness of herbal supplement health
benefits, and a rise in the occurrence of health issues.
Diabetes, heart disease, cancer,
as well as other chronic illnesses are on the rise all over the world. An
increase in the frequency of medical issues has resulted in a greater awareness
of eating well. Because of better lifestyles and dietary habits, customer
awareness of fitness and health has increased in countries like India and
China.
People are becoming more
conscious of what they eat and the benefits of herbal supplements, which is
fueling the herbal supplement market’s rise. Furthermore, changes in their
lifestyle have forced them to place a higher value on their health.
Key Takeaways from Market
Study
- The
herbal supplements market is expected to expand at CAGRs of 7.8% and 15%
in US and the Middle East & Africa, respectively, through 2032.
- The
Asia Pacific Herbal Supplements market rose by 6.6% year over year,
defying early predictions about how the business would function in the
event of a worldwide pandemic. Natural supplement demand/sales contributed
roughly 33% of overall supply in North America in 2022.
- The
European herbal supplements market is currently pegged at 32% of the total
market share.
- Herbal
Supplement components are selling well in worldwide marketplaces, because
to rising consumer demand for nutritionally balanced foods.
- In
2022, world consumption for plant-based supplements grew by
10.3% year over year. It has 43% of the herbal supplement marketplace
and is predicted to increase at a significant pace of 7.2 percent by 2032.
- During
the timeframe of 2017-2022, curcumin ingredient revenue
increased by 9.8%.
“Herbal supplement
companies might make a lot of money if they targeted the food and beverage
industries. Because of the rising need for biomedical products around the
world, the nutritional supplements business might be a strong market for herbal
supplements,” says a Future Market Insights analyst.
Competitive Landscape
Herbal supplement producers are
putting a lot of effort into development and technology to ensure the quality
of its product.
- Bio-Botanica:
In 2018, the business formed a joint venture with Genomatica to create a
new extraction facility. The extracts will be produced according to
Genomatica’s methods and will contain the proprietary component Brontide.
The extracts are created using a Bio-proprietary Botanica technology that
guarantees the extracted substance has as many natural substances as
possible.
- Archer
Daniels Midland: The firm announced the acquisition of Protix, a
probiotics manufacturer in 2019. This will allow the firm to continue
to develop and conduct research in the field of natural healthcare
supplements for pets and humans.
- Herbalife:
The firm introduced its meal replacement line in 2022, which focuses on
nutrition and is simple to ingest. Shakes, baked pastries, and munchies
are among the products available. The firm introduced digestive health
supplements with a fibre compound in the year 2021. Production takes place
in the United States and Canada.
- Nuvothera
Inc: In the year 2019, the firm announced the beginning of a
supplementation project including microparticles Turmeric, which will
result in a rise in curcumin-containing drinks. The product is predicted
to grow in popularity since it provides certain health advantages and
reduces reliance on medications.
- Applied
Food Sciences Inc: In the year 2018, the business released CurcuFlow, that
is a curcumin extract. This new substance will be used to generate a
non-staining turmeric cleaning solution.
Segments Covered in Herbal
Supplements Market Analysis
Form:
- Soft
Gel/Pills
- Confectionery
Products
- Gummies
- Chews
- Others
- Pharmaceutical
Products
- Chewable
pills
- Gel
caps
- Powder
- Liquid
Ingredients:
- Moringa
- Echinacea
- Flaxseeds
- Turmeric
- Ginger
- Ginseng
- Other
ingredients (Horehound, Elderberry, etc)
Consumer Orientation:
- Men
- Women
- Senior
citizens
- Others
(Kids & Toddlers)
Application:
- Weight
Loss
- Sports
Nutrition
- General
Well-being
- Immune
& Digestive Health
- Bone
& Joint Health
- Heart
Health
- Other
specific requirements (Supplements, Anti-allergies & Eye-health)
Distribution Channel:
- Store
Based Retailing
- Hypermarkets/Supermarkets
- Convenience
Stores
- Drug
Stores and Pharmacies
- Health
and Wellness Stores
- Other
Retailers
- Online
Retailing
Region:
- North
America
- Latin
America
- Europe
- APEJ
- Japan
- Middle
East & Africa
Access Full Report here: https://www.futuremarketinsights.com/reports/herbal-supplements-market