Herbal Supplement Market Insights
According to the new report titled " Herbal Supplements Market By Form (Tablets, Syrups, Oils, Powder, Others), By Source (Leaves, Fruit, Roots, Vegetables, Barks ), By Application (Agriculture, Pharmaceuticals, Dietary Supplements, Food and Beverages, Animal Feed, Cosmetics and Others), Global Analysis to 2023"
The valuation of the Herbal Supplements market was $91.3 Billion in 2023 and is projected to reach $184.1 Billion by 2032, at a CAGR of 8.10% from 2021 to 2032.
The Herbal Supplements Market was valued at $91.3 Billion by 2023 and expected to grow at CAGR of 8.10% over forecast period. Herbal supplements are dietary supplements made from plants or plant extracts that are used for their purported medicinal or health-promoting properties. These supplements can come in various forms, including capsules, tablets, powders, extracts, and teas. Consumers are increasingly seeking natural alternatives to conventional medicine for maintaining health and treating minor ailments. Herbal supplements are perceived as natural and holistic remedies that offer potential health benefits without the side effects associated with some pharmaceutical drugs.
Hey, we all know how we love our herbal supplements! They're like nature's medicine, right? And because they come from plants, we think they're totally safe and gentle on our bods. Plus, with all these health problems floating around these days, like obesity, diabetes, and heart issues, we're all trying to take better care of ourselves. So, herbal supplements are like a beacon of hope, helping us manage our health and feel our best. And the best part? We can grab these supplements right off the shelves at our local drugstores, health food stores, and even online. No need for a doctor's visit! That's why so many of us are popping them like vitamins. It's just so easy and convenient.
Tablets held the largest share in the Herbal Supplements market
When it comes to herbal supplements, tablets are like the trusty workhorses. They're convenient to carry around, so you can pop one whenever you need it, without any hassle. Plus, they're precise and consistent, so you know exactly how much of the good stuff you're getting with each pill. That's really important with herbal supplements, since getting the right amount is key to feeling the benefits. And guess what? Tablets are shelf-stable champs, so they won't go bad as quickly as other forms like liquids or teas.
Europe headed the Herbal Supplements market in 2023
Hey there! Like folks everywhere, European shoppers are getting more and more into healthy living. They want their food and drinks to be made with wholesome, unprocessed stuff that's good for them. And they're lucky to have strict rules in Europe about food labels and additives. That means people can trust that what's on the packaging is actually in the food. Plus, Europeans are all about things like vegan, gluten-free, and paleo. They're big on herbs and supplements too, because they fit right into those diets. And guess what? It's the younger crowd, like Millennials and Gen Z, who are leading the charge. They want their food and supplements to be good for them and the planet.
They are more likely to prioritize health, sustainability, and transparency in their purchasing decisions, and clean label products resonate with their values. Retailers and food brands in Europe are responding to consumer demand for Herbal Supplements by reformulating products to remove artificial additives and preservatives. Many retailers are also introducing their own clean label product lines to cater to this growing segment of the market.
Key market players operating in the market that are profiled in the report are NBTY(US), Tsumura(JP), Weleda(CH), DSM(NL), Nature's Sunshine Products(US), Madaus(DE), Nutraceutical(US), Arkopharma(FR), Schwabe(DE), Ricola(CH), Blackmores(AU), Dabur(IN) etc.
Report Scope
| REPORT ATTRIBUTES |
DETAILS |
| STUDY PERIOD |
2020-2030
|
| BASE YEAR |
2023
|
| FORECAST PERIOD |
2024-2030
|
| HISTORICAL PERIOD |
2020-2022
|
| UNIT |
Value (USD Billion)
|
| KEY COMPANIES PROFILED |
Nature’s Bounty Co., Archer Daniels Midland Company, Glanbia plc, Nutraceutical International Corporation, Herbalife International of America, Inc., Blackmores Limited, Bio-Botanica Inc., Himalaya Drug Company
|
| SEGMENTS COVERED |
- By Product Type
- By Distribution Channel
- By Geography
|
| CUSTOMIZATION SCOPE |
Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope
|
Key Players
The major players in the Herbal Supplements Market are
- Nature’s Bounty Co.
- Archer Daniels Midland Company
- Glanbia plc
- Nutraceutical International Corporation
- Herbalife International of America, Inc.
- Blackmores Limited
- Bio-Botanica Inc.
- Himalaya Drug Company
- Ricola AG
- The Nature’s Way Co.
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- Reasons to Purchase this Report
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
