Herbal Supplements Market (By Product - Moringa, Echinacea, Flaxseeds, Turmeric, Ginger, Ginseng; By Consumer - Pregnant women, Adult, Pediatric, Geriatric; By Formulation - Tablets, Capsules, Liquid, Powder and Granules, Soft gels, Others) - Global Industry Size, Share, Trends and Forecast 2018 - 2026

Introduction

The global herbal supplements market is project worth $9.0 Billion in 2026 and the market is projected to showcase 6.7% CAGR during the forecast period. The market is driven by growing healthcare spending.

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Market Dynamics

Rising geriatric population and alertness about preventive healthcare are anticipated to be the key parameter boosting the herbal supplements market. Increasing healthcare spending is also expected to increase the market growth. Easy obtainability of herbal supplements due to numerous strategies, for instance bundled offerings and direct selling, adopted by businesses will also support market growth.

Market Insights

Growing alertness about the benefits related with the consumption of herbal supplements is also expected to have an optimistic influence on the product demand. Producers are concentrating on product placement strategies to escalation their sale across all consumer groups. Such as, the advertisements directing children segment are concentrated on recommending the use of supplements for nutritional values for healthy growth. As per to the article cited by NCBI in 2013, approximately 80% of the global populace relies on herbal supplements as part of primary healthcare. Therefore, growing acceptance of natural therapies and related products is also driving the herbal supplements market growth.

Market Classification

The global herbal supplements market is segmented into three major segment named product, formulation, consumer, and region. On the basis of product the herbal supplements market is segmented into moringa, echinacea, flaxseeds, turmeric, ginger and ginseng. On the basis of the formulation the global herbal supplements market is segmented into tablets, capsules, liquid, powder and granules, soft gels and others. On the basis of consumer, the herbal supplements market is segmented into Pregnant Women, Adults, Pediatric and Geriatric. On the basis of region the global Herbal Supplements market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Regional Insights

In 2018, APAC captured largest revenue share and the region is projected to continue its dominance over the forecast period as the region believe on aurvedic medicine and focuses more on usage of natural medicine to cure the illness. Other regions for the growth of the APAC herbal supplements is increasing number of patients and enhancement in herbal supplements facilities.

However, APAC is anticipated to be the fastest emerging region owing to its highest patient population, suffering from cardiovascular diseases, diabetes, cancer, coronary thrombosis, and others. Also, South Korea China, India, and other Asia-Pacific nations offer substantial development opportunities for key companies owing to enhanced healthcare infrastructure, augmented disposable income, increase in healthcare awareness, increase in demand for better healthcare, and emerging medical tourism market. Europe is also projected to be the fastest-developing market for herbal supplements. Augmented incidence of chronic diseases and incidence of a huge target population base are the key parameter increasing demand for herbal supplements in the region.

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Market Participants

The major players associated with the herbal supplements market Jarrow Formulas, Inc., Solgar, Inc., Nature’s Bounty, Ancient GreenFields Pvt. Ltd., Gaia Herbs, and Now Foods. Most of these enterprises put emphasis on new product launch and technological expansion, mergers & acquisitions, and strategic partnership activities as part of their commercial development strategies. Players associated with herbal supplements market are continuously focussing on research and development to cater best to the customer and facilitate best consumer to healthcare sector.

Market Segmentation

Market By Product

• Moringa
• Echinacea
• Flaxseeds
• Turmeric
• Ginger
• Ginseng

Market By Consumer

• Pregnant women
• Adult
• Pediatric
• Geriatric

Market By Formulation

• Tablets
• Capsules
• Liquid
• Powder and granules
• Soft gels
• Others

Market By Geography

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • UK
  • Germany
  • France
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Chile
  • Rest of Latin America

• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • Rest of MEA