Global Herbal Supplements Market Report 2023: Sector is Expected to Reach $52.4 Billion by 2028 at a CAGR of 7.21% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Herbal Supplements Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.

The global herbal supplements market size reached US$ 34.5 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 52.4 Billion by 2028, exhibiting a CAGR of 7.21% during 2022-2028.

Companies Mentioned

• Ancient Greenfields PVT LTD
• A.N.P. Inc.
• Bio-Botanica Inc.
• Gaia Herbs B.V.
• Herb-Pharm LLC
• Jarrow Formulas Inc.
• Now Health Group Inc.
• Nutraceutical Corporation
• Rainbow Light Nutritional Systems Inc.
• Solgar Inc.

Herbal supplements refer to the type of organic dietary additives that are generally extracted from natural raw materials such as moringa, turmeric, ginger, echinacea, cohosh, flaxseeds, among other herbs. These supplements are primarily available in the form of tablets, powders, soft gels, liquid extracts, ointments, capsules, etc.

Herbal supplements exhibit various therapeutic properties based on the high composition of minerals, amino acids, enzymes, and vitamins, which are essential for the human body.

Furthermore, these supplements also hold several antiseptic, antibiotic, anti-depressant, and anti-inflammatory benefits, along with providing skin radiance and boosting the immune system. Owing to these benefits, herbal supplements are widely consumed by pediatric, adult, and geriatric population across the globe.

In recent times, the rising consumer health concerns, coupled with the growing expenditures on preventive healthcare products, have augmented the market growth for herbal supplements. Furthermore, the high prevalence of lifestyle diseases, such as diabetes, obesity, etc., along with the increasing global geriatric population, has propelled the demand for dietary supplements for mitigating health risks.

Moreover, the growing demand for personalized medicines, along with the wide availability of these supplements has further propelled the market growth. Apart from this, the rising investments in several R&D activities supported by the launch of newer and innovative herbal products are also driving the growth of this market. For instance, Farlong Pharmaceuticals, a US-based herbal ingredient and supplement company, has launched a new herbal supplement named, Steamed Notoginseng Powder, that helps in relieving fatigue, nourishing blood, and improving immunity.

Additionally, the growing consumer inclination towards organic self-care products and plant-based supplements, particularly across the European countries, is also bolstering the product demand. In developed nations, such as the United States and Canada, herbal supplement accounts for an integral part of the consumers' daily diet, thereby are widely available across several distribution channels.

In emerging economies, such as India, China, and Japan, etc., the increasing consumer awareness towards several health benefits of herbal supplements, along with the rising disposable income levels, further drive the market growth. Moreover, the soaring prices of pharma products, coupled with the growing consumer preferences towards natural and organic products, will continue to bolster the growth of the global herbal supplements in the coming years.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global herbal supplements market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, formulation and consumer.

Breakup by Product Type:

• Moringa
• Echinacea
• Flaxseeds
• Turmeric
• Ginger
• Ginseng
• Others

Breakup by Formulation:

• Tablets
• Capsules
• Liquid
• Powder and Granules
• Soft Gels
• Others

Breakup by Consumer:

• Pregnant Women
• Adult
• Pediatric
• Geriatric

Key Questions Answered in This Report:

• How has the global herbal supplements market performed so far and how will it perform in the coming years?
• What are the key regional markets?
• What has been the impact of COVID-19 on the global herbal supplements market?
• What is the breakup of the market based on the product type?
• What is the breakup of the market based on the formulation?
• What is the breakup of the market based on the consumer?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the market?
• What is the structure of the global herbal supplements market and who are the key players?
• What is the degree of competition in the market?

For more information about this report visit https://www.researchandmarkets.com/r/48d0qm

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