Herbal Supplements Market To Witness Widespread Expansion, Rising Business Opportunities with Prominent Investment, Forecast To 2030

Australian adults are more inclined to take herbal supplements because they support immunity and don't have any unfavourable side effects. Digestive and heart supplements are expected to gain popularity in the local herbal supplement industry due to the increased demand for heart health supplements among consumers in Australia and New Zealand.

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By the end of 2025, the market for digestive and cardiac supplements is expected to be worth more than US$ 150 million, up from a projected value of around US$ 90 million in 2017. Between 2017 and 2025, this industry is predicted to produce incremental opportunities worth more than US$ 80 million, with an absolute potential of over US$ 5 million higher than in 2016.

The increased product penetration of digestive and cardiac supplements through online retailing channels is one of the key drivers encouraging segmental growth. It is also anticipated that sales of digestive and cardiac supplements through e-Commerce would have a significant surge during the projection period as a result of the growing usage of smartphones and increasing internet penetration in the markets of Australia and New Zealand.

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With increasing consumer demand for herbal digestive and heart supplements, key players are entering into partnerships/agreements and strategizing through acquisitions in order to increase their herbal supplements production capacity and are enhancing their distribution network to expand their footprint in the global market.

Consumers are rapidly shifting towards consumption of herbal supplements for prevention of health issues. A growing number of consumers are consuming herbal supplements to prevent chronic conditions such as cardiovascular disease. A large number of consumers are consuming health supplements to prevent common ailments such as digestive problems. Consequently, the demand for digestive and heart supplements to prevent diseases has shown robust growth in the last few years across Australia and New Zealand.

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Market Segmentation : (Herbal Supplements Market)

Herbal Supplements Market By Form : Tablets, Capsules, Powder, Liquid

Herbal Supplements Market By Product Type : Beauty Supplement, Bone and Joint Supplement, Body Building Supplement, Digestive & Heart Supplement, Supplement for Immune System, Brain Supplement, Supplement for Weight Loss, Others (Vision Supplement, Menopause Supplement)

These are conventional herbal supplement products that are marketed as herbal supplements due to the presence of some herbal ingredients. Many consumers are unable to distinguish between herbal and conventional supplements. This results in a considerable number of consumers opting for pseudo herbal products, which is a major factor hampering the growth of the digestive and heart supplement segment in the Australia & New Zealand herbal supplements market.

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