Herbal Supplements Market Size to Boost USD 172.99 Billion By 2032 | CAGR 7.3% - Published by Emergen Research

The global Herbal Supplements Market size was USD 86.84 billion in 2022 and is expected to register a rapid revenue CAGR of 7.3% during the forecast period. Increasing disposable income of the working population and rising consumer interest in natural and holistic health remedies are key factors driving markets revenue growth.

The herbal supplements market has witnessed significant growth in recent years, driven by increasing consumer awareness regarding health and wellness, rising demand for natural and organic products, and growing interest in preventive healthcare practices. Herbal supplements, derived from plant extracts and botanicals, are consumed in various forms such as capsules, tablets, powders, and liquids. They are known for their potential health benefits, including immune support, improved digestion, stress relief, and overall well-being. The global herbal supplements market encompasses a wide range of products catering to diverse health needs and preferences.

 The report is attuned with the latest market changes and economic landscape with regard to the currently unfolding COVID-19 pandemic. The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.

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Drivers of the Herbal Supplements Market :

Several factors contribute to the expansion of the herbal supplements market. One of the primary drivers is the growing preference for natural and plant-based alternatives to conventional pharmaceuticals. Consumers are increasingly seeking herbal supplements as they perceive them to be safer and more holistic, with fewer adverse effects. Moreover, the rising prevalence of chronic diseases and lifestyle disorders has spurred interest in preventive healthcare, driving the demand for herbal supplements as complementary or alternative therapies. Additionally, the proliferation of e-commerce platforms and the availability of herbal supplements online have expanded market reach and accessibility to consumers worldwide.

Growth Factors of the Herbal Supplements Market :

The herbal supplements market is driven by several growth factors. Increasing research and development efforts aimed at exploring the therapeutic potential of herbal ingredients and validating their health claims contribute to market expansion. Moreover, strategic partnerships and collaborations between manufacturers, healthcare providers, and retailers enhance product visibility and distribution channels, driving market growth. Furthermore, growing investments in marketing and promotional activities, including endorsements by celebrities and influencers, help raise awareness and consumer confidence in herbal supplements, stimulating demand.

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The report also discusses the key players involved in the market such as:

Herb Pharm, Twinlab Consolidated Corporation, NaturaLife Asia Co., Ltd., Rainbow Light Nutritional Systems, Inc. Himalaya Wellness Company., Dr. Willmar Schwabe India Pvt. Ltd., Bio-Botanica Inc., Nature's Bounty, Gaia Herbs, NUTRAMARKS, INC., DSM, Arizona Natural, Blackmores, The Archer Daniels Midland Company, and Herbalife International of America, Inc

The report provides a thorough estimation of the overall impact of the pandemic on the Herbal Supplements Market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the Herbal Supplements Market

Herbal Supplements Latest Industry Updates

In June 2023, Kapiva, a direct-to-consumer brand that empowers customers with accessible and contemporary Ayurveda, will grow its footprint in the U.S. due to the smart employment of industry veterans Nicholas Kelley as CEO and Maria N. Lacher as Chief Marketing Officer. With 500,000 satisfied customers, Kapiva wants to improve everyday wellbeing scores and introduce contemporary Ayurveda to homes throughout the world.

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Herbal Supplements Market Segment Analysis :

For the purpose of this report, Emergen Research has segmented the global herbal supplements market on the basis of source, form, function, end-use, and region:

Source Outlook (Revenue, USD Billion; 2019-2032)
Leaves
Roots and Barks
Whole Plants
Fruits
Others
Form Outlook (Revenue, USD Billion; 2019-2032)
Tablets and Capsules
Powders
Gel and Liquids
Others
Function Outlook (Revenue, USD Billion; 2019-2032)
Medicinal
Aroma
Other Function
End-use Outlook (Revenue, USD Billion; 2019-2032)
Pharmaceutical
Food & Beverages (F&B)
Personal Care
Others
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa

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