Herbal Supplements Market 2020 Trends, Top Manufactures, Market Demands, Industry Growth And Forecast To 2025
Herbal Supplements Market is valued at USD 6.22 Billion in 2018 and expected to reach USD 9.67 Billion by 2025 with the CAGR of 6.5% over the forecast period.
Increasing adoption of herbal products by aging population and increasing prevalence of lifestyle related diseases are some major impacting factor driving the growth of the global herbal supplements market.
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Scope of the Herbal Supplements Market Report:
Herbal supplements are dietary supplements are obtained from plants or herbs. Herbal supplements sometimes called botanicals which are a type of dietary supplement containing one or more herbs. Also it is used to improve lack of deficiencies diseases. It includes drugs that are derived from plants. Herbal supplements have applications in pharmaceutical, food & beverages, and cosmetic industries .Herbal supplements are used to improve well-being or health. It is available as teas, extracts, powders, capsules, tablets and others. These products are natural and have the ability to cure almost all the types of diseases. Nutraceuticals products are one of the types of supplements that have many health benefits and used to improve health, increase life expectancy, delay the aging process, prevent chronic diseases and support function of the body. Nutraceuticals product includes yoghurts and fortified breakfast cereals, vitamins, herbal remedies and even genetically modified foods and supplements like Green Tea, Omega-3 fatty acids, etc. phytochemicals, functional foods and nutritional supplements which provides nutritional value as similar to conventional food. Common Application Of Herbal Supplements are in pharmaceuticals, food & beverages and personal care.
Key Players Herbal Supplements-
Herbal supplements market report covers prominent players are Nutraceutical International Corporation, Dr. Willmar Schwabe GmbH & Co. KG, The Himalaya Drug Company, Rainbow Light Nutritional Systems, Inc., Ricola AG, Bio-Botanica Inc, Twinlab Corporation, Blackmores Ltd., Glanbia, Plc, Herb Pharm, LLC., Herbalife International of America, Inc., Gaia Herbs, DSM Nutritional Products AG, Naturalife Asia Co., Ltd., Nature’s Bounty Co., Arizona Natural Products, The Archer Daniels Midland Company and Others.
Herbal supplements market report is segmented on the basis of source, function, form, application and by regional & country level. Based upon source, herbal supplements market is classified into leaves, barks, fruits & vegetables and roots. Based upon function, herbal supplements market is classified into medicinal and aroma. Based upon form, herbal supplements market is classified into capsules & tablets, powder, syrups, oils and others. Based upon application, herbal supplements market is classified into pharmaceuticals, food & beverages and personal care.
The regions covered in this herbal supplements market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of herbal supplements is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Nutraceutical Announced Acquisition
News: April 6, 2017, Nutraceutical International Corporation announced acquisition with the Zhou Nutrition brand from Branson Books, LLC. This brand helps to support and grow other brands that sold into other market segments, such as the health food channel. Furthermore, incorporation of these acquired businesses provides ongoing financial synergies through increased scale and market penetration as well as strengthened customer relationships for business growth.
Herbal Supplements Market Dynamics –
Increasing adoption of herbal products by aging population and increasing prevalence of lifestyle related diseases are some major impacting factor driving the growth of the global herbal supplements market. Further, lack of vitamin deficiencies’ diseases in children’s will boosts the market growth in forecast period. According to the World Health Organization (WHO), an estimated 250 000 to 500 000 vitamin A-deficient children become blind every year. According to NCBI, around 19 million pregnant women affected by deficiency of vitamin A. However, stringent regulations by government bodies at the production level and approval of the product and lack of awareness regarding dosage consumption will hamper the development of herbal supplements market. However, advance development in healthcare sectors, growing concerns related to nutritional deficiency and the increasing investment in research is expected to boost the opportunity for the growth of herbal supplements market in forecast period.
Herbal Supplements Market Segmentation –
By Source:
Leaves, Barks, Fruits & vegetables, Roots
By Form:
Capsules & tablets, Powder, Syrups, Oils, Others
By Application:
Pharmaceuticals, Food & beverages, Personal care
Herbal Supplements Market Regional Analysis –
North America is dominating the herbal supplements market with the highest share in forecast period due to rising awareness among the people about herbal supplements for healthcare. Moreover, consumption of nutraceutical products to improve health, rising lifestyle related diseases like Osteoporosis, established healthcare infrastructure and technological advancements and increasing R&D by major players in this region. These are some of the activities expected to accelerate the market growth. As per U.S. National Library of Medicine, In the US, the term “nutraceutical” products are regulated as drugs, food ingredients and dietary supplements and nutraceuticals have received high interests due to potential nutritional and safety profile other than therapeutic capability. According to International Osteoporosis Foundation, The 44 million people with either osteoporosis or low bone mass represent 55 % of the people aged 50 and older in the United States and Osteoporosis affects approximately 1.4 million Canadians, mainly postmenopausal women and the elderly in Canada.
The Asia Pacific is expected to emerge as the fastest-growing regional herbal supplements market over the forecast period owing to the increase in healthcare expenditure, rising awareness about dietary supplement, increasing geriatric population with chronic deceases and availability of effective herbal treatment in emerging countries, such as China and India. Asia Pacific has leading innovation in the ayuvadic treatments by developing and providing transformational treatments that extend and enhance lives. As per NCBI, China has about 95% of Department of Traditional Medicine in their government hospitals. According to Organisation for Economic Co-operation and Development(OECD), In high income Asia-Pacific countries, the share of population aged over 65 years is expected to double to reach and on average 27.6% in 2050, whereas the share of population aged over 80 years is expected to triple between 2015-2050 to reach 10.2%.
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