Herbal Supplements Market to Grow with a CAGR of 9.23% through 2029
Growing awareness regarding health issues & problems is
expected to drive the Global Herbal Supplements Market in the forecast period
2025-2029.
According to TechSci Research report, “Herbal Supplements Market – Global
Industry Size, Share, Trends, Competition Forecast & Opportunities,
2029F”, the Global Herbal Supplements Market stood at USD 86.75 billion in 2023 and is
anticipated to grow with a CAGR of 9.23% through 2029. The global market for herbal supplements has seen notable growth recently, spurred by several key factors. A primary driver is the escalating consumer preference for natural and plant-based products over synthetic medications. Heightened health consciousness prompts consumers to seek herbal supplements for diverse benefits like immune support, stress alleviation, and overall well-being. The upsurge in chronic diseases and lifestyle-related health issues globally, such as obesity, diabetes, and cardiovascular ailments, has propelled interest in complementary and alternative therapies, including herbal supplements, for symptom management and health enhancement.
The aging demographic further fuels demand for herbal supplements catering to healthy aging and addressing age-related health issues like joint health, cognitive function, and heart health. Herbal supplements are increasingly valued as integral components of wellness regimens as people strive to preserve vitality and quality of life as they age. The global wellness industry's expansion and the heightened focus on preventive healthcare have also bolstered the popularity of herbal supplements. Consumers actively seek natural remedies and dietary supplements to maintain and optimize health proactively.
The widespread availability of herbal supplements through various distribution channels, including pharmacies, health food stores, online retailers, and direct sales, has significantly contributed to market growth. This accessibility facilitates easy consumer access and purchase, thereby driving market penetration and expansion. Challenges like regulatory intricacies, quality control, and safety concerns persist, impacting the market. Overcoming these hurdles is crucial for sustaining growth and fostering consumer trust in herbal products. Despite these challenges, the global herbal supplements market is projected to continue expanding as consumers increasingly prioritize natural and holistic approaches to health and wellness.
Browse over XX Market data Figures spread
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The Global Herbal Supplements Market is segmented into
source, application, form, function, regional distribution, and company.
Based on form, Capsules
& Tablets emerged as the fastest growing segment in 2023.Capsules and tablets are favored by consumers seeking herbal supplements due to their convenience, ease of consumption, and precise dosage. These dosage forms offer superior stability and longer shelf life compared to alternatives like liquids or powders. Widely accessible through diverse retail channels such as pharmacies, health food stores, and online platforms, capsules and tablets ensure global consumer accessibility. These qualities have propelled the dominance of the Capsules & Tablets segment in the global herbal supplements market.
Based on function, The Medicinal segment is
leading in the herbal supplements market. This dominance stems from its central aim of targeting specific health issues and delivering therapeutic advantages. As chronic diseases become more common and the desire for natural remedies grows, consumers are opting for medicinal herbal supplements to alleviate symptoms and enhance overall well-being. This segment provides a diverse array of products tailored to address various health concerns, from immune support to digestive health and stress relief, meeting a range of consumer needs. The perceived effectiveness and tangible health advantages linked with medicinal herbal supplements further solidify its leading status in the market.
Major companies operating in Global Herbal Supplements
Market are:
- Glanbia PLC
- Archer Daniels
Midland Company
- Nutramarks, Inc.
- Herbalife
Nutrition Ltd.
- Blackmores Limited
- Ricola AG
- Bio-Botanica Inc.
- Nature's Bounty (NY) Inc.
- NaturaLife Asia
Co., Ltd
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“The Global Herbal Supplements Market is fueled by multiple significant factors. Heightened consumer consciousness and favorability towards natural remedies, motivated by apprehensions regarding the side effects of synthetic medications, are key drivers of market expansion. The increasing prevalence of chronic diseases and lifestyle-related health concerns worldwide, alongside the aging demographic, spurs demand for herbal supplements. The broadening availability across diverse retail channels, including pharmacies and online platforms, further enhances market accessibility. Continuous research backing the efficacy and safety of herbal supplements, along with supportive regulations and favorable governmental initiatives, contribute to market augmentation. These combined forces shape the global herbal supplements market, fostering innovation, increasing consumer adoption, and driving market growth”, said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
“Herbal Supplements Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Source (Leaves, Fruits & Vegetables, Barks, Roots and Others), By Application (Pharmaceuticals, Personal Care, Food & Beverages, Others), By Form (Capsules & Tablets, Syrups, Powder, Oils and Others), By Function (Medicinal, Aroma and Others), By Region and Competition, 2019-2029F”, has evaluated
the future growth potential of Global Herbal Supplements Market and provides
statistics & information on Market size, structure and future Market growth.
The report intends to provide cutting-edge Market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Herbal Supplements Market.
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