Herbal Supplements Market to Signify Strong Growth by 2024-2031

The global herbal supplements market is anticipated to grow at a CAGR of 8.9% during the forecast period. Herbal supplements as alternative and complementary medicines continue to gain popularity as consumer health products. Approximately 80% of the world’s population depends on them for some form of primary healthcare. The growing awareness regarding herbal supplements owing to the health benefits offered them is one of the prominent factors rising their popularity among the health-conscious population. During the pandemic period, the demand and consumption of herbal supplements have increased, as consumers and affected patients had been advised by the governments and health bodies to use various herbal supplements for better immunity. Consumers were opting for herbal supplements owing to their high health benefits and lesser side effects owing to this fact, the market witnessed exponential growth at the time of the COVID-19 pandemic. Herbal supplement such as Ashwagandha has gained immense popularity as it is used for treating a variety of health conditions such as cancer, diabetes, and others. The high demand for ashwagandha for herbal supplement manufacturing owing to its nutritional and health benefits, from the pharmaceutical industry is expected to drive the growth of the market.

Apart from these, the increasing investment in research development by players operating in the herbal supplement market to develop new herbal supplement products to fulfill the increasing demand by consumers in different categories is expected to create new growth opportunities. The market players are focusing on collaborating with other players to expand product offerings in the global market. For instance, in March 2021, to expand its reach, Gaia Herbs partnered with the esteemed German herbal products company SALUS Hau. Through this partnership, natural herbal products brand Gaia Herbs became the exclusive U.S. distributor of the Salus brand’s complete line of high-quality herbal products and dietary supplements, which are marketed under the name Floradix.

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Market Coverage

• Market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others

Herbal Supplements Market Segmentation

By Source

• Leaves
• Barks
• Fruits & Vegetables
• Roots
• Others

Herbal Supplements Market by Form 

• Tablets & Capsules
• Liquid & Soft Gels
• Powder & Granules

Herbal Supplements Market by Application

• Pharmaceuticals
• Food & Beverage
• Personal Care

Herbal Supplements Market by Distribution Channel

• Store-Based Retailing
• Hypermarkets/Supermarkets
• Convenience Stores
• Online

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Regional Analysis

North America

• United States
• Canada

Europe

• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe

Asia-Pacific

• India
• China
• Japan
• South Korea
• Rest of APAC

Rest of the World

Company Profiles     

• Ancient Greenfields Pvt. Ltd.
• Archer Daniels Midland Co.
• Arizona Natural Products
• Axys Nutrition Products Pvt. Ltd.
• Bio-Botanica Inc.
• Blackmores Ltd.
• Gaia Herbs, Inc.
• Glanbia PLC
• Healthy Origins USA
• Herbalife International of America, Inc.
• Herbochem
• Jarrow Formulas, Inc.
• Natural Organics, Inc.
• NaturaLife Asia Co., Ltd.
• Nature's Bounty
• NOW Health Group Inc.
• NUTRAMARKS, INC.
• Ricola, Ltd.
• Solgar, Inc.
• Swanson Health Products
• The Nature’s Bounty Co.
• Third Coast Herb Co.

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