Herbal Supplements Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2020-2026
Global Herbal Supplements
Market is
anticipated to reach a market valuation of US$ 110.26 billion by 2026 expanding
at a reasonable CAGR of 6.7% in the course of the forecasted period (2020-2026)
from US$ 70.42 billion in 2019. Herbal supplements are a type of dietary
supplement that contains one or more herbs. These supplements majorly have a
strong effect on the body which are consumed in different forms including tea
bags, capsules, tablets, liquids and powders. While, common herbal health
products and supplements include black cohosh, echinacea, garlic, ginkgo and
saw palmetto. Echinacea is consumed to prevent colds; ginkgo is to improve
memory while flaxseeds are for reducing cholesterol. Herbal supplements are not
a new concept, but plants have been used continuously for medicinal purposes
for 1000 years. Herbal supplements are not subjected to the same scientific
scrutiny and aren't as strictly regulated as medications. For instance,
although manufacturers of herbal supplements must follow good manufacturing
practices with an objective to ensure that supplements are processed
consistently and meet quality standards, however, they don't have to get
approval from the Food and Drug Administration (FDA) before putting their
products on the market.
For
Regional/country-level analysis of the overall sales of herbal supplement
products browse through - Herbal Supplements Market
Increasing the adoption of
herbal products by the aging population and increasing incidence of
lifestyle-related diseases have contributed positively to the growth of herbal
supplements. In addition, changing lifestyle and standards of living, and
unhealthy eating habits such as fast food and meals-on-the-go are some other
factors driving the overall growth of the global herbal supplements market.
Increasing demand for dietary herbal supplements among working and pregnant
women is another factor expected to drive growth of the global herbal
supplements market. Growing popularity of multi-herbs and concerns relating to
side-effects of allopathic drugs is further fueling growth of the global herbal
supplements market. Furthermore, American ginseng may be taken to reduce
stress, boost the immune system, improve digestion, and more. German chamomile
may be taken to improve sleep quality, reduce anxiety, and help
gastrointestinal conditions. Cinnamon may be used to treat gastrointestinal
problems, loss of appetite, and diabetes. Based on
formulations, the global
herbal supplement market is bifurcated into
tablets, capsules, liquid and powder & granules. Herbal supplements are
majorly consumed in the form of Capsules. The segment is expected to generate
revenue of US$ 35.71 billion by 2026. Based on application, the global
herbal supplement market is bifurcated into
food & beverages, pharmaceuticals and personal care. The pharmaceutical
segment generated revenue of US$ 33.74 billion in 2019. In addition, the
Personal Care segment is expected to witness the highest CAGR growth of 7.2%
during the analyzed period. Based on
end-user, the global herbal supplement market is classified into adult women, adult men, pediatric and baby
boomers. A growing elderly population would help the Baby Boomers end-user
segment to witness the highest CAGR growth of 7.4% during the analyzed period.
Based on the distribution channel,
the global
herbal supplement market is bifurcated into
herbal stores, drug stores, supermarket/hypermarket and online channels. In
2019, herbal supplements were majorly sold through Drug Stores, followed by an
online channel. Additionally, for better investigation and penetration
of herbal supplements, detailed country-level analysis was conducted for major
regions/countries including North America
(US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain,
the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia,
Rest of Asia-Pacific) and Rest of World (Brazil, South Africa, Others).
It has been estimated by WHO that 80% of the population of some Asian countries
use herbal medicine for some health purposes. Increasing health awareness with
respect to diet, growing mental disorders, and surging sedentary lifestyles has
tremendously bolstered the Asia Pacific herbal supplements market. Asia-Pacific is expected to generate revenue of US$ 39.54
billion by 2026. The rest of the world region is expected to witness the
highest CAGR growth of 7.6% during the forecast period.
For
Regional/country-level analysis of the overall development in the herbal
supplement, sector browse through - Herbal
Supplements Market
Some of the major companies profiled in the Global Herbal
Supplements market are Jarrow Formulas, Inc., Solgar Inc., Herbalife International of America,
Inc., Ricola AG, Bio-Botanica Inc., Blackmores Ltd, Himalaya Drug Company,
Rainbow Light Nutritional Systems, Arizona Natural Products, Willmar Schwabe
GmbH & Co. KG. These players consistently aim to focus on
various product launches, innovations, energy-efficient products as well as
mergers and acquisitions to enhance the consumption of herbal supplements
globally thereby strengthening their market position which further offers them
growth opportunities as well as the expansion of product innovation and
expansion around the world. The industry has witnessed the emergence of several
start-ups majorly in the developed region.
Global Herbal Supplements Market Segmentation
Market Insight, by Source
- Leaves
- Roots
- Bark
- Seeds
- Others
Market Insights, by Applications
- Food& Beverages
- Pharmaceuticals
- Personal Care
Market Insights, by End-User
- Adult Women
- Adult Men
- Pediatric
- Baby Boomers
Market Insights, by Formulation
- Tablets
- Capsules
- Liquid
- Powder & Granules
- Others
Market Insight, by Distribution Channel
- Herbal Stores
- Drug Stores
- Hypermarkets/Supermarkets
- Online
Market Insight, by Region
- North America Herbal Supplements Market
- United States
- Canada
- Rest of North America
- Europe Herbal Supplements Market
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific Herbal Supplements Market
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of World Herbal Supplements Market
- Brazil
- South Africa
- Others
Top Company Profiles
- Jarrow Formulas, Inc.
- Solgar Inc
- Herbalife International of America, Inc.
- Ricola AG
- Bio-Botanica Inc.
- Blackmores Ltd
- Himalaya Drug Company
- Rainbow Light Nutritional Systems
- Arizona Natural Products
- Willmar Schwabe GmbH & Co. KG
UnivDatos
Market Insights (UMI) understands
that you may have your own business need, hence we also provide fully
customized solutions to clients. The Global Herbal Supplements Market can be customized to the country level
or any other market segment.
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Labels: Global Herbal Supplements Market, Healthcare, Herbal Supplements Market, Herbal Supplements Market Size, Natural Supplements Market, Supplements Market Research Report
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