Press release
Herbal s Market Anticipated To Witness Robust Growth, Surpassing $71.41 Billion By 2029
Herbal s Market Size
How Big Is the Herbal s Market Size Expected to Be by 2034?
The market size for herbal s has seen significant growth in recent years. The market is expected to rise from $49.71 billion in 2024 to $53.8 billion in 2025, equating to a compound annual growth rate (CAGR) of 8.2%. The historical growth pattern is due to a rise in consumer consciousness, a shift towards preventive healthcare measures, an increase in health problems related to lifestyle, and the policies and initiatives implemented by the government.
The market size for herbal s is projected to witness robust expansion in the forthcoming years, escalating to a valuation of $71.41 billion by 2029, with a compound annual growth rate (CAGR) of 7.3%. Factors contributing to the surge in growth over the forecast period can be linked to ongoing consumer awareness initiatives, a growing demographic of the elderly, the worldwide wellness trend and the emergence of personalized and bespoke products, alongside market evolutions and product diversification. Notable trends over the forecast duration encompassing eco-conscious packaging methods, incorporating cultural and traditional aspects, corporate partnerships and alliances, and the heightened interest in tailored nutrition solutions.
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What Are the Emerging Segments Within the Herbal s Market?
The herbal s market covered in this report is segmented -
1) By Form: Tablets, Capsules, Liquid, Powder And Granules, Soft Gels
2) By Sources: Leaves, Fruits, Roots, Vegetables, Barks
3) By Application: Food And Beverages, Pharmaceuticals, Personal Care
4) By Distribution: Store Based, Non-Store Based
Subsegments:
1) By Tablets: Compressed Herbal Tablets, Coated Herbal Tablets
2) By Capsules: Hard-Shell Capsules, Soft-Shell Capsules
3) By Liquid: Herbal Extracts, Herbal Tinctures
4) By Powder And Granules: Herbal Powders, Granulated Herbal s
5) By Soft Gels: Herbal Soft Gel Capsules, Gelatin-Based Herbal Soft Gels
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What Long-Term Drivers Are Shaping Herbal s Market Trends?
The surge in health-conscious individuals is markedly propelling the expansion of the herbal s market. Herbal s, known for their myriad health advantages and absence of chemicals, are utilized as add-ons and remedies for common diseases. The International Food Information Council's (IFIC) 2022 food and health study indicates a robust desire in Americans to become more health aware. In 2022, 52% of Americans revealed they had adhered to a regime or eating habit in the previous year, marking a substantial rise from prior years (39% in 2021). Therefore, the escalating population of health-aware individuals is predicted to fuel the growth of the herbal s market during the forecasted span.
Who Are the Top Competitors in Key Herbal s Market Segments?
Major companies operating in the herbal s market include Archer Daniels Midland Company, Glanbia plc, Herbalife Nutrition International of America Inc., NBTY Inc., Dabur India Ltd., Blackmores Limited, Swanson Health Products, Weleda AG, Now Health Group, Nutraceutical International Corporation, Ricola AG, DSM Nutritional Products Ltd., Dr. Willmar Schwabe GmbH & Co. KG, Jarrow Formulas Inc., Taiji Group, Gaia Herbs, Arizona Natural Products LLC, Bio-Botanica Inc., Sunfood Nutraceuticals, Solgar Inc., ABCO Laboratories Inc., Nature's Bounty Co., Wonder Laboratories, Ancient Greenfields Pvt. Ltd., NaturaLife Asia Co. Ltd., Herbochem Sdn. Bhd., Third Coast Herb Co., Wellness Origin Indy, Kunming Pharmaceutical Corporation, Herbal Africa, Rainbow Light Nutritional Systems Inc., MegaFood, Barlean's Organic Oils LLC, NutriGold Inc., Premier Health Products Ltd., Z Natural Foods
What Herbal s Market Trends Are Gaining Traction Across Different Segments?
Companies within the herbal s market are expanding their research and development investments. This is having a favorable impact on the market. For instance, in February 2022, Amway, a US-based provider of health, beauty, and home care goods, joined forces with IIT Bombay, an Indian tech institute, to expedite its research in botanicals, nutraceuticals, and herbal s. With this alliance, a combined team of Amway's inside researchers and IIT Bombay will work together to bring innovation into various areas and enhance the nutrition and herbal product portfolio and components of Amway.
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Which Regions Are Becoming Hubs for Herbal s Market Innovation?
North America will be the largest region in the herbal market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the herbal s market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Herbal s Market?
2. What is the CAGR expected in the Herbal s Market?
3. What Are the Key Innovations Transforming the Herbal s Industry?
4. Which Region Is Leading the Herbal s Market?
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