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Herbal Supplements Market Forecast Covering Growth Inclinations & Development Strategies | Key Players are Bio-Botanica Inc., Arizona Natural Products, lackmores Ltd, America, Inc., Ricola AG
Herbal Supplements Market
The global Herbal Supplements Market size is anticipated to reach USD 137.3 billion by 2026 and is estimated to grow at a CAGR of 10.8% during 2018-2026 according to a new study published by Polaris Market Research. In 2017, the pharmaceutical segment accounted for the highest market share in terms of revenue. North America is expected to be the leading contributor to the global market revenues in 2017.
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The obese and geriatric population is increasing worldwide, promoting the growth of the herbal supplements. The sedentary lifestyle, increasing use of functional foods, and growing consumer awareness regarding preventive health care boost the overall market growth. Increasing disposable incomes in developing countries, rising awareness about health benefits of herbal supplements, and rising health disorders propel the growth of the herbal supplements industry. Sedentary lifestyle of consumers leading to lifestyle diseases, and increasing disposable income drives herbal supplements market growth.
North America generated the highest market share in terms of revenue in 2017 and is expected to lead the global market throughout the forecast period. The increasing obese population, initiatives and funding by governments to promote health consciousness, and lifestyle changes primarily drive the growth of this market. The number of memberships for health clubs and gyms has increased significantly promoting the growth of Herbal Supplements industry in the region. The increase in obesity related diseases such as diabetes and hypertension along with high disposable income of consumers further propel the adoption of herbal supplements.
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The well-known companies profiled in the Herbal Supplements report include Herbalife International of America, Inc., Ricola AG, Archer Daniels Midland Company, Nutraceutical International Corporation, Bio-Botanica Inc., Arizona Natural Products, Blackmores Ltd, The Himalaya Drug Company, Dr. Willmar Schwabe GmbH & Co. KG, and Rainbow Light Nutritional Systems. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Leading players in the Herbal Supplements industry are also taking initiatives to increase awareness among consumers through health subscription and other marketing campaigns. In October 2014, Herbalife launched a new range of herbal green tea, which is available in two flavors, original and pomegranate. This range of green tea contains lower calories and is free of artificial sweeteners, flavors, and colors.
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Polaris Market Research has segmented the global herbal supplements market on the basis of source, functionality, application, distribution channel and region:
Herbal Supplements Source Outlook (Revenue, USD Million, 2015 – 2026)
• Leaves
• Roots
• Bark
• Fruits & Vegetables
• Others
Herbal Supplements Functionality Outlook (Revenue, USD Million, 2015 – 2026)
• Medicinal
• Aromatic
• Others
Herbal Supplements Application Outlook (Revenue, USD Million, 2015 – 2026)
• Food and Beverage
• Pharmaceuticals
• Personal Care
• Others
Herbal Supplements Distribution Channel Outlook (Revenue, USD Million, 2015 – 2026)
• Offline Stores
• Online Channels
Herbal Supplements Regional Outlook (Revenue, USD Million, 2015 – 2026)
• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Spain
• Italy
• Netherlands
• Rest of Europe
• Asia Pacific
• India
• China
• Japan
• Korea
• Australia
• Singapore
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.
Contact us-
Mr. Rohit
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: sales@polarismarketresearch.com
Web: www.polarismarketresearch.com
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