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The global herbal supplements market reached a value of US$ 6.3 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 6.8% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Herbal supplements refer to the type of organic dietary additives that are generally extracted from natural raw materials such as moringa, turmeric, ginger, echinacea, cohosh, flaxseeds, among other herbs. These supplements are primarily available in the form of tablets, powders, soft gels, liquid extracts, ointments, capsules, etc. Herbal supplements exhibit various therapeutic properties based on the high composition of minerals, amino acids, enzymes, and vitamins, which are essential for the human body. Furthermore, these supplements also hold several antiseptic, antibiotic, anti-depressant, and anti-inflammatory benefits, along with providing skin radiance and boosting the immune system. Owing to these benefits, herbal supplements are widely consumed by pediatric, adult, and geriatric population across the globe.
In recent times, the rising consumer health concerns, coupled with the growing expenditures on preventive healthcare products, have augmented the market growth for herbal supplements. Furthermore, the high prevalence of lifestyle diseases, such as diabetes, obesity, etc., along with the increasing global geriatric population, has propelled the demand for dietary supplements for mitigating health risks. Moreover, the growing demand for personalized medicines, along with the wide availability of these supplements has further propelled the market growth. Apart from this, the rising investments in several R&D activities supported by the launch of newer and innovative herbal products are also driving the growth of this market. For instance, Farlong Pharmaceuticals, a US-based herbal ingredient and supplement company, has launched a new herbal supplement named, Steamed Notoginseng Powder, that helps in relieving fatigue, nourishing blood, and improving immunity. Additionally, the growing consumer inclination towards organic self-care products and plant-based supplements, particularly across the European countries, is also bolstering the product demand. In developed nations, such as the United States and Canada, herbal supplement accounts for an integral part of the consumers’ daily diet, thereby are widely available across several distribution channels. In emerging economies, such as India, China, and Japan, etc., the increasing consumer awareness towards several health benefits of herbal supplements, along with the rising disposable income levels, further drive the market growth. Moreover, the soaring prices of pharma products, coupled with the growing consumer preferences towards natural and organic products, will continue to bolster the growth of the global herbal supplements in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global herbal supplements market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on product type, formulation and consumer.
Breakup by Product Type:
Breakup by Formulation:
Breakup by Consumer:
Breakup by Region:
The competitive landscape of the industry has also been examined with some of the key players being Ancient Greenfields PVT LTD, A.N.P. Inc., Bio-Botanica, Inc., Gaia Herbs B.V., Herb-Pharm, LLC, Jarrow Formulas, Inc., Now Health Group, Inc., Nutraceutical Corporation, Rainbow Light Nutritional Systems, Inc., Solgar Inc., etc.
|Base Year of the Analysis||2020|
|Segment Coverage||Product Type, Formulation, Consumer, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Ancient Greenfields PVT LTD, A.N.P. Inc., Bio-Botanica, Inc., Gaia Herbs B.V., Herb-Pharm, LLC, Jarrow Formulas, Inc., Now Health Group, Inc., Nutraceutical Corporation, Rainbow Light Nutritional Systems, Inc. and Solgar Inc.|
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Key Questions Answered in This Report:
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