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The herbal supplements market size is forecast to increase by USD 32.87 billion at a CAGR of 6.68% between 2023 and 2028.
The herbal supplements industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The offline segment is estimated to witness significant growth during the forecast period. Herbal supplements, derived from plants or botanicals, constitute a significant segment of the dietary supplements market. Key consumer needs include obesity management, weight gain disorders, diabetes, aging population, and lifestyle diseases such as cardiovascular disease and cancer. Herbal supplements offer solutions for these chronic conditions, with popular options including Ayurvedic Products, curcumin, echinacea, aloe vera, green tea, and turmeric. Brands like NutraGreen, Gaia Herbs, and Moringa cater to these demands. Offline channels, including retail stores, pharmacies, supermarkets, and health food stores, remain crucial for herbal supplement sales. These physical outlets enable consumers to interact with products directly, facilitating informed purchasing decisions.
Major retailers like Walmart, CVS, and GNC house dedicated herbal supplement aisles, providing consumers with convenience and immediate access to a diverse range of products. Effective merchandising and knowledgeable staff further engage customers, ensuring they make informed choices based on their unique health requirements.
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The Offline segment was valued at USD 57.45 billion in 2018 and showed a gradual increase during the forecast period.
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 shape the market during the forecast period.
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The North American herbal supplement market is experiencing notable growth due to the increasing consumer preference for natural and holistic health solutions. This trend is driven by a growing awareness of the potential health benefits offered by herbal products. Key herbal supplements, such as turmeric for its anti-inflammatory properties and echinacea for immune support, have gained significant popularity. The market expansion is also influenced by the region's strong emphasis on health and wellness, leading to increased demand for herbal supplements. Consumers are increasingly turning to plant-based solutions for obesity rate management, weight gain disorders, diabetes, aging population, and chronic diseases such as cardiovascular disease and cancer.
Herbal supplements like curcumin, Moringa, flaxseeds, ginger, ginseng, and green tea are popular choices for preventive healthcare and therapeutic dietary supplements. The market includes various forms such as tablets, capsules, powders, and liquids. The elderly population, fitness enthusiasts, and vegans are significant consumer groups. Regulatory attention towards herbal supplements is increasing in North American nations. Herbal supplements derived from plants or botanicals are integral to traditional medicine and are used for stress reduction, cholesterol maintenance, and digestive system regulation. The market caters to both store-based and non-store-based retail channels.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
These supplements cater to diverse consumer needs, such as Cholesterol Maintenance, Digestive System Regulation, Stress Reduction, and Preventive Healthcare. The market for herbal supplements is expanding to cater to the needs of various population segments, including the elderly population and those with lifestyle diseases like obesity, weight gain disorders, diabetes, cardiovascular disease, and cancer. The growing awareness of the importance of maintaining a healthy lifestyle, coupled with the increasing healthcare spending, is expected to fuel the demand for herbal supplements In the coming years. The market for herbal supplements is not limited to store-based sales but also includes non-store-based channels.
Traditional medicine and therapeutic dietary supplements continue to dominate the market, while tablets, capsules, powders, and liquids remaIn the most popular forms of herbal supplements. The market landscape is evolving, with companies introducing innovative products and solutions to cater to the changing consumer needs. For instance, NutraGreen's CurcuFlow and Gaia Herbs' turmeric solution are popular examples of advanced herbal supplements that offer enhanced therapeutic benefits. In conclusion, the herbal supplement market is experiencing a paradigm shift towards natural and holistic health solutions, driven by increasing consumer awareness and the growing prevalence of chronic diseases. The market is expected to continue growing, catering to the diverse needs of consumers and offering innovative plant-based solutions for various health concerns.
Some popular herbal supplements include Vitamin C, Echinacea, Aloe Vera, Green Tea, and curcumin. Other plant-derived supplements, like Moringa, Flaxseeds, Turmeric, Ginger, and Ginseng, are also in demand. Herbal supplements cater to various health concerns and needs, such as Cholesterol Maintenance, Digestive System Regulation, Stress Reduction, and Preventive Healthcare. They come in various forms, including Tablets, Capsules, Powders, and Liquids, catering to diverse consumer preferences. The herbal supplement market serves both store-based and non-store-based channels, with Traditional Medicine and Geriatric Population being significant consumer segments. The market is influenced by lifestyle diseases, such as obesity, weight gain disorders, diabetes, and cardiovascular disease, as well as chronic diseases like cancer.
The aging population and Westernization of Diets also contribute to the market's growth. Fitness Enthusiasts and Veganism are emerging trends driving the demand for herbal supplements. Regulatory attention from North American Nations and other regulatory bodies is ensuring the quality and safety of herbal supplements. Overall, the herbal supplement market is an essential component of the Health and Wellness industry, catering to the diverse needs and preferences of consumers.
Herbal supplements are sought after for their roles in Cholesterol Maintenance, Digestive System Regulation, Stress Reduction, and Preventive Healthcare. Plant-based foods, such as Moringa, Flaxseeds, Turmeric, Ginger, and Ginseng, are popular ingredients in herbal supplements. Tablets, Capsules, Powders, and Liquids are common forms of herbal supplements, catering to various consumer preferences. The market is segmented into Store-Based and Non-Store-Based channels, with Traditional Medicine and Geriatric Population being significant consumer groups. Fitness enthusiasts and those following Veganism also contribute to the market's growth. Regulatory attention on herbal supplements remains a concern for market participants, particularly in North American Nations. However, the market's potential lies in addressing consumer needs for natural, plant-based solutions to combat lifestyle diseases and promote overall health and wellness.
The herbal supplements market forecasting 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 herbal supplements market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, herbal supplements market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.
Archer Daniels Midland Co. - The company specializes in herbal supplements, providing a range of offerings including Fibersol and Prebiotic dietary fibers, as well as plant and algal based nutritional oils, and Mixed tocopherols. These supplements cater to diverse health needs, with Fibersol promoting digestive health, Prebiotics fostering gut health, nutritional oils delivering essential fatty acids, and Mixed tocopherols offering antioxidant benefits. By utilizing natural, plant-derived ingredients, this company caters to the growing consumer demand for health-conscious alternatives.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
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 industry 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 encompasses a wide range of plant-based products, derived from leaves, vitamins, and various botanicals. These supplements have gained significant popularity in recent years due to their potential health benefits. Ayurveda, an ancient holistic healing system originating in India, has contributed a substantial number of herbal supplements to this market. Vitamin C and Echinacea are two commonly used herbal supplements, with Vitamin C known for its immune system support and antioxidant properties, while Echinacea is recognized for its potential to boost immunity and reduce inflammation. Aloe Vera, Green Tea, and Curcumin are other popular herbal supplements, each offering unique health benefits.
The market is driven by various factors, including the increasing prevalence of chronic diseases such as obesity, weight gain disorders, diabetes, and cardiovascular disease. With an aging population and a sedentary lifestyle becoming increasingly common, the demand for herbal supplements as part of a preventive healthcare regimen has surged. Herbal supplements are available in various forms, including tablets, capsules, powders, and liquids. Consumers have diverse needs, leading to the availability of these supplements in both store-based and non-store-based retail channels. Traditional medicine, including Ayurvedic products, continues to hold a significant share of the market. The pharmaceuticals section has also shown interest in herbal supplements, recognizing their potential as therapeutic dietary supplements.
Plants or botanicals, rich in active ingredients, are being researched extensively for their role in addressing various health concerns. Moringa, Flaxseeds, Turmeric, Ginger, and Ginseng are some of the plants currently under the spotlight. The market is influenced by several trends, including the Westernization of diets, increasing awareness of healthy meals, and the growing popularity of veganism. Fitness enthusiasts also contribute to the market's growth, seeking supplements to support their active lifestyles. Regulatory attention towards herbal supplements has increased, with North American nations implementing stricter regulations to ensure product safety and efficacy. Consumer needs continue to evolve, driving innovation and diversification withIn the market.
The market for herbal supplements is vast and dynamic, with a diverse range of products catering to various consumer needs. The potential health benefits of these supplements, coupled with the increasing awareness of their role in maintaining overall wellness, make them an essential part of the health and wellness landscape.
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Market Scope |
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Report Coverage |
Details |
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Page number |
154 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.68% |
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Market growth 2024-2028 |
USD 32.87 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.23 |
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Key countries |
US, Germany, France, China, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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