Global Herbal Nutraceuticals Market Size By Product Type, By Application, By Distribution Channel, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Herbal Nutraceuticals Market Size By Product Type, By Application, By Distribution Channel, By Geographic Scope And Forecast
Herbal Nutraceuticals Market Size And Forecast
Herbal Nutraceuticals Market size was valued at USD 65.26 Billion in 2023 and is projected to reach USD 124.41 Billion by 2031, growing at a CAGR of 8.40% during the forecast period 2024-2031.
Global Herbal Nutraceuticals Market Drivers
The market drivers for the Herbal Nutraceuticals Market can be influenced by various factors. These may include
 Growing Health ConsciousnessAs people’s awareness of their health grows, so does the market for natural and organic goods. The growing demand for herbal nutraceuticals is fueled by the perception that they are safer than synthetic supplements.
 Preventive Healthcare Trend As healthcare becomes more focused on preventing illness, people are looking for goods that help improve general wellness. Because of their alleged health benefits and few side effects, herbal nutraceuticals are becoming more and more popular than traditional medications.
Growing Aging Population As the world’s population ages, age-related health problems like joint pain, cognitive loss, and cardiovascular diseases are becoming more common. Herbal nutraceuticals have the ability to help manage these illnesses, which is driving the market’s expansion.
Growing Chronic Illnesses Around the world, the frequency of chronic conditions such as obesity, diabetes, and hypertension is rising. The potential of herbal nutraceuticals to naturally manage these illnesses without the side effects of traditional drugs is being studied.
 Technological Developments New formulations and delivery methods for herbal nutraceutical goods have been made possible by technological advancements. This includes methods like nanoencapsulation that increase bioavailability and efficacy and thereby propel market growth.
 Standards and Support from Regulations As governments and regulatory agencies come to understand the value of herbal products, they are enacting standards of quality and regulations that are favorable to them. This encourages market expansion and boosts consumer confidence in herbal nutraceuticals.
 E-commerce Growth Consumers throughout the world now have easier access to herbal nutraceuticals because to the emergence of e-commerce platforms. As a result, nutraceutical companies now have a much wider market reach, which is boosting sales growth.
 Increasing Disposable Income Customers are willing to spend more on goods that enhance their quality of life and deliver health advantages when their disposable income rises. This economic element helps fuel the market expansion for herbal nutraceuticals.
Global Herbal Nutraceuticals Market Restraints
Several factors can act as restraints or challenges for the Herbal Nutraceuticals Market. These may include
 Regulatory Restrictions Market participants may have difficulties in obtaining product approval, labeling, and marketing due to strict rules and compliance requirements in many regions.
 Limited Scientific Evidence Although interest in herbal nutraceuticals is rising, there may not be enough solid scientific proof to support the safety and effectiveness of some herbal constituents, which could undermine customer acceptance and confidence.
Quality Control Issues Variability in plant composition, geographic origin, growing techniques, and processing processes might make it difficult to maintain consistent quality and standardization of herbal substances.
Pharmaceutical Competition Herbal nutraceuticals may face competition in the healthcare sector from traditional pharmaceutical medications that may provide more focused and instantaneous relief for specific medical ailments.
 Consumer Perception and Awareness Although natural goods and wellness trends are becoming more widely known, some customers may still view herbal nutraceuticals as complementary or alternative treatments rather than as stand-alone medical solutions.
 Vulnerabilities in the Supply Chain Reliance on particular areas for the procurement of herbal ingredients, coupled with weather conditions, climate change, and geopolitical unrest, can cause disruptions in the chain, resulting in shortages or variations in price.
 Product Safety Concerns Unfavorable incidents or problems with contamination connected to herbal goods can damage customer confidence, draw attention from authorities, and hinder market expansion.
 Price Sensitivity Customers who are sensitive to price may be discouraged from frequently purchasing herbal nutraceuticals due to their perceived higher cost when compared to traditional supplements or medications.
 Limited Product Differentiation Differentiation based on product formulation, efficacy, or unique selling propositions becomes essential yet difficult to obtain in the market due to the abundance of herbal nutraceutical brands.
Global Herbal Nutraceuticals Market Segmentation Analysis
The Global Herbal Nutraceuticals Market is Segmented on the basis of Product Type, Application, Channel and Geography.
Herbal Nutraceuticals Market, Product Type
 Herbal Supplements
 Herbal Functional Foods
Herbal Functional Beverages
 Herbal Dietary Supplements
 Herbal Personal Care Products
Herbal Nutraceuticals Market, By Application
 Digestive Health
Weight Management
Heart Health
 Immunity Enhancement
 Bone and Joint Health
 Cognitive Health
Anti-aging
 Others
Herbal Nutraceuticals Market, By Distribution Channel
 Online Retail
Offline Retail
 Supermarkets/Hypermarkets
 Specialty Stores
Health Stores
 Pharmacies/Drugstores
Others
Herbal Nutraceuticals Market, By Geography
 North America
 Europe
 Asia Pacific
 Latin America
 Middle East & Africa
Key Players
The major players in the Herbal Nutraceuticals Market are
Archer Daniels Midland Company
The Himalaya Drug Company
DSM Nutritional Products
Glanbia PLC
Amway Corporation
Nature’s Bounty Co.
Blackmores Limited
Nutraceutical International Corporation
Bio-Botanica Inc.
Nature’s Sunshine Products Inc.
Amway Corporation
Oregon’s Wild Harvest
Gaia Herbs Farm
Now Foods
Herbochem
Pure Encapsulations, LLC
Nutramarks, Inc
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2020-2031
BASE YEAR
2023
FORECAST PERIOD
2020-2022
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
The Himalaya Drug Company, DSM Nutritional Products, Glanbia PLC, Amway Corporation, Nature’s Bounty Co., Blackmores Limited, Nutraceutical International Corporation, Bio-Botanica, Inc., Nature’s Sunshine Products, Inc.
SEGMENTS COVERED
By Type, By Application , By Distribution Channel, By Geography
CUSTOMIZATION SCOPE
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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
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