The Global Herbal Supplement Market size is projected to reach USD 82.6 billion by 2028 from an estimated USD 30.8 billion in 2018, growing at a CAGR of 7.9% during the forecast period (2021-2028). The factors providing growth opportunities for this market include increasing product awareness and demand for natural products as well as a rising number of incidences of lifestyle-related ailments such as obesity, diabetes, cardiovascular disease, and arthritis among others.
Herbal Supplements are concentrated extracts of plants that usually come in pill form, powders, or liquids. They contain herbs and herbal ingredients which were traditionally used to cure various ailments and diseases. The key ingredient is the herb itself but other things may also be added such as vitamins, minerals, oils, etc. Herbs have been used for centuries for medicinal purposes because they can act on different healing systems within your body at a cellular level restoring balance naturally.
On the basis of Type, the market is segmented into Mono-Herb Type and Multi-Herb Type.
Mono-herb type is an herbal supplement that contains only one herb. These are also known as single herbs or monographs, and they comprise a large share of all marketed herbal supplements worldwide. The main usage of mono-herb type is in the pharmaceutical industry. The most common uses are for weight loss, anxiety relief, and pain management.
This type of herbal supplement contains more than one herbs. The most common types are multi-ingredient formulas that contain a blend of two or three herbs and single ingredient formula for those who only want to supplement with the individual herb.
The Multi-herb type is mainly used to address certain medical conditions. For example, a popular combination of multi-ingredient formulas is those that contain herbs that can treat symptoms such as hypertension and colds. One major advantage of this type of supplement is the wide variety it offers in terms of addressing different ailments. Multi herb types also have fewer side effects than single-ingredient options, since they’re typically using ingredients from which people might be genetically predisposed less likely to produce allergic reactions or other negative responses.
On the basis of Application, the market is segmented into Pharmaceutical Industry, Health Care Industry, and Others.
Herbal supplements are used in the pharmaceutical industry to enhance the therapeutic effects of existing medicines or as an active ingredient for various disease conditions. Herbs such as St. John’s Wort have been widely studied for their potential benefits on depression symptoms without any reports of serious side effects. With increasing awareness about herbal remedies among people and decreasing affordability of prescribed drugs due to price constraints; there is a high demand for these products from pharma companies that manufacture them commercially by extracting natural substances like herbs from medicinal plants based on prescriptions given by physicians to patients suffering from chronic diseases who want alternatives treatments other than traditional medications with fewer side effects.
Herbal supplements are used in the health care industry for different reasons and purposes. The most common applications of herbal supplements include prevention, treatment, or relief from various medical conditions. Herbal medicines are also widely used by doctors to treat chronic diseases such as hypertension, arthritis, and many more. In some cases, these remedies can be a substitute for drugs prescribed by physicians depending on individual preferences.
On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Latin America led the global herbal supplement market in 2017 owing to its high consumption levels due to increasing incidence rates for chronic diseases such as diabetes mellitus & hypertension coupled with growing demand from consumers regarding health awareness.
In 2018 Asia Pacific emerged as a prominent player accounting for the highest growth rate among all regions globally, mainly attributed to China’s rapid economic development and aging population combined with an increase in adoption of traditional medicine practices across APAC region like Thailand.
There is a growing trend of adopting herbal supplements worldwide. The use of synthetic drugs may be affecting health negatively, and as such, there has been an increase in the preference for natural alternatives. Herbal herbs are believed to have healing properties that can improve one’s lifestyle and provide relief from common ailments or diseases without any major side effects. Increasing awareness about the benefits offered by herbal supplements coupled with their affordability compared to pharmaceutical medications have made them popular among consumers globally.
The rise in obesity rates across countries like Mexico, Brazil, the US, and Canada is another factor contributing to this growth in demand for these products due to increased risk factors associated with being overweight - high blood pressure, diabetes complication risks, etc., which leads people towards looking at more natural remedies. Herbal supplements are gaining popularity as they can be found in the form of tablets, capsules, or powders that are readily available over-the-counter and online at a relatively low cost to consumers.
Up Market Research published a new report titled “Herbal Supplement Market research report which is segmented by Types (Mono - Herb Type, Multi - Herb Type), By Applications (Pharmaceutical Industry, Health Care Industry, Others), By Players/Companies NBTY(US), Tsumura(JP), Weleda(CH), DSMï¼ˆNLï¼‰, Nature's Sunshine Products(US), Madaus(DE), Nutraceutical(US), Arkopharma(FR), Schwabe(DE), Ricola(CH), Blackmores(AU), Dabur(IN), Herbal Africaï¼ˆZA), Pharma Nord APS(DM), SIDO MUNCUL(ID), Nature's Answer (US), TwinLab(US), Pharmavite(US)b, Arizona Natural(US), Potter's Herbals(UK), Tongrentang(CN), TASLY(CN), Yunnan Baiyao(CN), Sanjiu(CN), Zhongxin(CN), Haiyao(CN), Taiji(CN), Kunming Pharma(CN), JZJT(CN), Guangzhou Pharma(CN)”.
|Report Attributes||Report Details|
|Report Title||Herbal Supplement Market Research Report|
|By Type||Mono - Herb Type, Multi - Herb Type|
|By Application||Pharmaceutical Industry, Health Care Industry, Others|
|By Companies||NBTY(US), Tsumura(JP), Weleda(CH), DSMï¼ˆNLï¼‰, Nature's Sunshine Products(US), Madaus(DE), Nutraceutical(US), Arkopharma(FR), Schwabe(DE), Ricola(CH), Blackmores(AU), Dabur(IN), Herbal Africaï¼ˆZA), Pharma Nord APS(DM), SIDO MUNCUL(ID), Nature's Answer (US), TwinLab(US), Pharmavite(US)b, Arizona Natural(US), Potter's Herbals(UK), Tongrentang(CN), TASLY(CN), Yunnan Baiyao(CN), Sanjiu(CN), Zhongxin(CN), Haiyao(CN), Taiji(CN), Kunming Pharma(CN), JZJT(CN), Guangzhou Pharma(CN)|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||232|
|Number of Tables & Figures||163|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Mono - Herb Type, Multi - Herb Type and By Application Pharmaceutical Industry, Health Care Industry, Others.
Some of the companies that are profiled in this report are:
Herbal Supplement Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Herbal Supplement Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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