The global herbal supplements market is anticipated to grow at a CAGR of 8.9% during the forecast period. Herbal supplements as alternative and complementary medicines continue to gain popularity as consumer health products. Approximately 80% of the world’s population depends on them for some form of primary healthcare. The growing awareness regarding herbal supplements owing to the health benefits offered them is one of the prominent factors rising their popularity among the health-conscious population. During the pandemic period, the demand and consumption of herbal supplements have increased, as consumers and affected patients had been advised by the governments and health bodies to use various herbal supplements for better immunity. Consumers were opting for herbal supplements owing to their high health benefits and lesser side effects owing to this fact, the market witnessed exponential growth at the time of the COVID-19 pandemic. Herbal supplement such as Ashwagandha has gained immense popularity as it is used for treating a variety of health conditions such as cancer, diabetes, and others. The high demand for ashwagandha for herbal supplement manufacturing owing to its nutritional and health benefits, from the pharmaceutical industry is expected to drive the growth of the market.
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Apart from these, the increasing investment in research development by players operating in the herbal supplement market to develop new herbal supplement products to fulfill the increasing demand by consumers in different categories is expected to create new growth opportunities. The market players are focusing on collaborating with other players to expand product offerings in the global market. For instance, in March 2021, to expand its reach, Gaia Herbs partnered with the esteemed German herbal products company SALUS Hau. Through this partnership, natural herbal products brand Gaia Herbs became the exclusive U.S. distributor of the Salus brand’s complete line of high-quality herbal products and dietary supplements, which are marketed under the name Floradix.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Herbal Supplements Market by Source
- Leaves
- Barks
- Fruits & Vegetables
- Roots
- Others
Global Herbal Supplements Market by Form
- Tablets & Capsules
- Liquid & Soft Gels
- Powder & Granules
Global Herbal Supplements Market by Application
- Pharmaceuticals
- Food & Beverage
- Personal Care
Global Herbal Supplements Market by Distribution Channel
- Store-Based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Online
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Ancient Greenfields Pvt. Ltd.
- Archer Daniels Midland Co.
- Arizona Natural Products
- Axys Nutrition Products Pvt. Ltd.
- Bio-Botanica Inc.
- Blackmores Ltd.
- Gaia Herbs, Inc.
- Glanbia PLC
- Healthy Origins USA
- Herbalife International of America, Inc.
- Herbochem
- Jarrow Formulas, Inc.
- Natural Organics, Inc.
- NaturaLife Asia Co., Ltd.
- Nature’s Bounty
- NOW Health Group Inc.
- NUTRAMARKS, INC.
- Ricola, Ltd.
- Solgar, Inc.
- Swanson Health Products
- The Nature’s Bounty Co.
- Third Coast Herb Co.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global herbal supplements market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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