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The global herbal supplements market size is estimated to grow by USD 32.87 billion at a CAGR of 6.68% between 2023 and 2028. In the market, driven by preventive healthcare and wellness services, the surge in demand for plant-based supplements like NutraGreen and Gaia Herbs reshapes consumer choices and industry dynamics. Active ingredients from plants or botanicals such as Vitamin C, Echinacea, and Aloe Vera gain prominence, especially in Asia Pacific, where Ayurveda and Traditional Chinese Medicine (TCM) influence herbal trends. Tablets, capsules, powders, and liquids offer diverse delivery methods catering to various health needs. With rising obesity rates and weight gain disorders, herbal supplements play a crucial role in addressing health concerns, including diabetes, amidst an aging population's wellness focus, bolstering preventive healthcare efforts in fitness clubs and gyms.
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The market share growth by the offline segment will be significant during the forecast period. Offline channels include various distribution networks, such as retail stores, pharmacies, supermarkets, and health food stores. These physical outlets provide consumers with direct access to a wide range, allowing them to make informed purchase decisions by interacting with products firsthand.
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The offline segment was the largest and was valued at USD 57.45 billion in 2018. The offline segment of the global herbal supplement market plays a pivotal role in providing consumers with physical access to these products, catering to individuals who prefer face-to-face interactions and immediate gratification. As the market continues to expand, offline channels will remain integral to the industry's overall growth and sustainability. Thus, the abovementioned advantages are expected to increase the demand in offline channels, which will propel the growth of the offline segment in the market during the forecast period.
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North America is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. North America holds a significant position in the global herbal supplement market, characterized by a growing consumer base seeking natural and holistic health solutions. The region's market has experienced robust growth, driven by consumer awareness of the potential health benefits offered by herbal products. One key contributing factor to the market growth in North America is the increasing preference for organic and natural products. The popularity of supplements such as turmeric for its anti-inflammatory properties and echinacea for increasing immune support has significantly contributed to market expansion.
In addition, the increasing utilization of e-commerce channels for sale has further expanded the market accessibility, allowing consumers to conveniently purchase products from the comfort of their homes. This shift toward online retailing has not only broadened the market reach but has also facilitated the availability of a wider range of supplements to consumers across North America. Thus, the abovementioned factors are expected to increase the demand for the supplements, which will propel the growth of the regional market during the forecast period.
In the market, driven by preventive healthcare and wellness services, the surge in demand for plant-based supplements like NutraGreen and Gaia Herbs reshapes consumer choices and industry dynamics globally. Active ingredients from plants or botanicals such as Vitamin C, Echinacea, and Aloe Vera gain prominence, especially in Asia Pacific, where Ayurveda and Traditional Chinese Medicine (TCM) influence herbal trends. Tablets, capsules, powders, and liquids offer diverse delivery methods catering to various health needs. With rising obesity rates and weight gain disorders, herbal supplements play a crucial role in addressing health concerns, including diabetes, amidst an aging population's wellness focus, bolstering preventive healthcare efforts in fitness clubs and gyms.
This market is driven by a noticeable surge in awareness of natural and holistic health approaches, reshaping consumer preferences and industry dynamics globally. Various factors fuel this awareness, significantly impacting market landscapes, consumer behaviors, and product innovation. Increasingly, consumers seek holistic herbal supplements like NutraGreen and Ayurvedic Products that support overall vitality, immune function, and long-term well-being, reflecting a shift towards preventive healthcare and sustainable wellness practices. Influential health advocates and experts leverage social media and wellness platforms to educate consumers about herbal supplements' potential benefits, amplifying awareness.
Scientific research supporting herbal ingredients like Vitamin C, turmeric, and ginger reinforces consumer confidence, while a growing emphasis on sustainability drives demand for eco-friendly herbal products. These factors drive the global market forward, promising continued growth in various sectors, including the pharmaceuticals section, fitness clubs and gyms, wellness and health services, food and beverages manufacturers, and traditional medicine. Hence, such factors are driving the market during the forecast period.
The growing popularity of personalized nutrition and wellness solutions is an emerging trend shaping the market growth in the herbal supplements industry. The global herbal health market is witnessing a notable shift toward personalized nutrition and wellness solutions, driven by changing consumer preferences and advancements in technology. This growing trend reflects an increasing consumer demand for tailored herbal products such as health supplements, herbal extracts, and herbal nutrients that address individual health needs and goals. One significant factor contributing to this trend is the rising awareness among consumers about the potential benefits of personalized nutrition and herbal medicine.
Moreover, the concept of personalized herbal supplements has gained traction among various demographic groups, including athletes, millennials, and aging populations, who seek tailored solutions to support their active lifestyles, preventive health measures, and age-related health challenges. Thus, such factors are expected to increase the demand for herbal health products, including herbal supplements, which will drive the market growth and trends during the forecast period.
Stringent regulation on herbal supplements is a significant challenge hindering market growth. Stringent regulation on the supplements has indeed had a discernible impact on the herbal supplement market, leading to challenges for manufacturers, distributors, and consumers alike. The imposition of stringent regulations has notably influenced the market dynamics, negatively affecting product availability, innovation, and consumer confidence in such supplements. Additionally, the cost of compliance with stringent regulations can be substantial for herbal supplement manufacturers, potentially leading to increased product prices.
Moreover, compliance with strict quality control measures, testing requirements, and documentation standards imposes financial burdens on manufacturers, which may ultimately be passed on to consumers. As a result, higher product prices may affect affordability and consumer accessibility, particularly for certain demographic groups with limited disposable income. Thus, such factors are expected to hinder the growth of the market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Archer Daniels Midland Co.- The company offers herbal supplements such as Fibersol, Prebiotic dietary fibers, Plant and algal-based nutritional oils, and Mixed tocopherols.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is experiencing remarkable growth, driven by the increasing popularity of Ayurveda and Traditional Chinese Medicine (TCM). Derived from natural sources such as leaves, Aloe Vera, and Green Tea, these plant-based supplements cater to diverse needs across the globe, especially in regions like Asia Pacific. With rising concerns over obesity rates, diabetes, and cardiovascular diseases due to sedentary lifestyles, the demand for preventive healthcare solutions is on the rise. Innovations like CurcuFlow, a turmeric solution containing curcumin, are gaining traction for their potential to address weight gain disorders and chronic diseases. The market offers a wide array of therapeutic dietary supplements, including Moringa, Flaxseeds, Ginger, and Ginseng, formulated into various forms such as tablets, capsules, liquids, and soft gels to meet diverse consumer needs. As healthcare spending increases, the market adapts with both store-based and non-store-based distribution channels to reach the elderly population, fitness enthusiasts, and those seeking health and wellness solutions. Regulatory attention, particularly in North American nations, ensures the quality and safety of these dietary supplements, catering to the growing trend of veganism and promoting a healthier lifestyle globally.
Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.68% |
Market Growth 2024-2028 |
USD 32.87 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 33% |
Key countries |
US, Germany, France, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Archer Daniels Midland Co., Arizona Natural Products, Bio Botanica Inc., Gaia Herbs Inc., Glanbia plc, Herb Pharm, Herbalife International of America Inc., Kirin Holdings Co. Ltd., Natures Bounty, Nestle SA, Otsuka Holdings Co. Ltd., Pharma Nord Inc., Ricola Group AG, The Clorox Co., and The Procter and Gamble Co. |
Market dynamics |
Parent market analysis, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market forecast report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Distribution Channel
7 Market Segmentation by Formulation
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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