The herbal supplements market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Herbal supplements are products derived from plants or their roots, seeds, oils, or flowers. The lifestyle change and a shift towards a portion of healthy and organic food are anticipated to accelerate the growth of the global herbal supplements market. For instance, during the COVID-19 pandemic, National Center for Biotechnology Information (NCBI) has conducted a web-based cross-sectional survey to assess the changes in lifestyle-related behavior in adults across India. A total of 995 responses were collected. Further, an improvement in healthy meal consumption patterns and restriction on unhealthy food items was observed, especially in the younger population 30 years and younger. Furthermore, according to Simmons National Consumer Survey (NHCS) and US Census data, an estimated 94.38 million people consumed organic food in 2020. Additionally, according to the 2020 Organic Industry Survey, released by Organic Trade Association, the US organic food has recorded a sale of $50.4 billion, which is 4.6% greater than 2019. Thus, the shift towards organic and healthy food is anticipated to accelerate the growth of the herbal supplements market during the forecast period.
Looking towards the demand for herbal supplements, key market players are adopting various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in January 2022, Ayujoy Herbals Ltd had announced the launch of immunojoy. Immunojoy is a plant-based herbal supplement to reduce stress and boost natural immunity. Immunojoy is a blend of various herbs including piper nigrum , aloe vera, and chloropythum borivilianum . Similarly, in June 2021, Vasu Healthcare had launched Vasu Safe Herbs. Vasu Safe herbs are herbal extracts that assist to boost immunity, stamina to fight infection and, allergy naturally. The launch aimed to strengthen the company’s portfolio in the immunity and preventive care range. Thus, such product launches are anticipated to drive the growth of the market during the forecast period.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Source
- By Form
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– NBTY, Inc., Bio-Botanica Inc., Nutraceutical International Corp., and Glanbia Plc among others
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Global Herbal Supplements Market Report by Segment
By Source
- Echinacea
- Moringa
- Flaxseeds
- Ginger
- Turmeric
- Ginseng
Others
By Form
- Tablets & Capsules
- Liquid & Soft Gels
- Powder & Granules
By Distribution Channel
- Store-Based
- Non-Store Based
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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