Global Herbal Supplements Market 2016-2020

This market research report presents a comprehensive analysis of the global herbal supplements market by values, forecasting, worth, segmentation by distribution channel (online, retail store, and others) and by geography (APAC, Europe, North America, and ROW). Leading vendors in this market are Gaia Herbs, Herb Pharm, Natures Bounty, Nutraceutical, and Rainbow Light Nutritional Systems.

Global herbal supplements market forecasts

According to the herbal supplements industry analysis, Technavio’s market research analyst predicts that this market will grow at moderate CAGR of more than 6% over the forecast period. With the rising awareness of the several health benefits of herbal supplements, this market is envisaged to have a positive outlook in the coming years. Functional foods comprise ingredients that boost that the health and well-being of an individual. Increasing work pressure and busy schedules have restricted people to unhealthy eating habits, such as fast foods and meals-to-go, which do not fulfill the nutritional requirements. To compensate for the lack of nutrients, increasing number of individuals are opting for functional foods such as supplements in the form of powder, syrup, or tablets in their daily diet to significantly reduce the chances of developing health complications. Moreover, dietary supplements like herbal supplements are priced lower, are easy to include in food, and contain nutrients with no perceived side effects. In addition, vendors are increasing the level of awareness of such foods through health subscription and other marketing campaigns, which in turn will contribute to the growth of this market by the end of 2020.

Based on the herbal supplements market overview, the analysts have estimated factors such as the augmented demand for dietary supplements among women to bolster the growth prospects of this market in the next four years. The use of dietary supplements in increasing among adults and especially women. The heightened use of such supplements in women is attributed to the high requirement of calcium and iron for women, as calcium is essential in lowering the risk of osteoporosis. Moreover, a diet rich in calcium and Vitamin D reduces the risk of bone fractures and also helps in regulating blood pressure. Since women also require more iron than men because of regular menstrual cycles, this market is expected to witness steady growth in the coming years.

Segmentation by distribution channel and analysis of the herbal supplements market

• Online
• Retail store

During 2015, the global herbal supplements market was dominated by the retail store segment and accounted for a market share of more than 52% in terms of revenue. Retail stores include hypermarkets, supermarkets, grocery stores, drugstores, natural, and health food stores. The growth of the retail store segment is attributable to the favorable investment climate in developing regions like Africa, Asia, and Latin America, along with a rise in disposable income and an increasing population of employed women.

Geographical segmentation and analysis of the herbal supplements market

• APAC
• Europe
• North America
• ROW

Europe dominated the global herbal supplements market with close to 45% of the market share during 2015. Factors such as the increasing popularity of natural, free of chemicals, and more controlled products due to new EFSA legislation and better accessibility to the herbal supplements to aid in the growth of this market in Europe.

Competitive landscape and key vendors

The global herbal supplements market is extremely fragmented due to the presence of various large and small pharmaceutical companies, where small businesses sell a handful of products based on traditional medicine, and big companies undertake extensive R&D to produce standardized phytomedicines. The vendors in this market compete in terms of price, quality, product differentiation, distribution, and promotion to gain maximum market prominence during the forecast period. The competitive environment is likely to intensify with an increase in product or service extensions, product innovations, and M&A.

Key vendors in this market are 

• Gaia Herbs
• Herb Pharm
• Nature’s Bounty
• Nutraceutical
• Rainbow Light Nutritional Systems

Other prominent vendors in the market include Arizona natural products, Arkhopharma, Bio-Botanica, Blackmores, i-Health, Megafood, New Chapter, Pharma Nord APS, Pharmavite, Ricola USA, Solgar, and Sundown Nutrition.

Key questions answered in the report include

• What will the market size, market revenue, and the growth rate be of the global herbal supplements market in 2020?
• What are the key factors driving the global herbal supplements market?
• What are the key market trends impacting the growth of the global herbal supplements market?
• What are the challenges to market growth for herbal supplements?
• Who are the key vendors in the global herbal supplements market?
• What are the market opportunities and threats faced by the vendors in the global herbal supplements market?
• Trending factors influencing the market shares of the global herbal supplements market in APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global herbal supplements market?

Technavio also offers customization on reports based on specific client requirement.

Related report:

• Global Functional Food and Nutraceuticals Market 2016-2020
• Organic Food and Beverages Market in Europe 2016-2020
• Global Health and Wellness Food Market 2015-2019
• Global Naturally Healthy Foods Market 2016-2020