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.
|Market||Herbal Supplements Market|
|Analysis Period||2015 - 2026|
|Forecast Data||2018 - 2026|
|Segments Covered||By Product, By Formulation, By Consumer and By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Jarrow Formulas, Inc., Solgar, Inc., Nature’s Bounty, Ancient GreenFields Pvt. Ltd., Gaia Herbs, and Now Foods.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
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.
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.
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.
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.
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 By Product
Market By Consumer
Market By Formulation
Market By Geography