Herbal Supplements Market Size 2024-2028
The herbal supplements market size is forecast to increase by USD 32.87 billion at a CAGR of 6.68% between 2023 and 2028.
What will be the Size of the Herbal Supplements Market During the Forecast Period?
How is this Herbal Supplements Industry segmented and which is the largest segment?
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.
- Distribution Channel
- Offline
- Online
- Formulation
- Capsules
- Tablets
- Powders
- Others
- Geography
- North America
- US
- Europe
- Germany
- France
- Asia
- China
- Japan
- Rest of World (ROW)
- North America
By Distribution Channel Insights
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.
Regional Analysis
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.
Market Dynamics
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.
What are the key market drivers leading to the rise In the adoption of Herbal Supplements Industry?
- Growing awareness about natural and holistic approaches to health and wellness is the key driver of the market.The herbal supplement market has witnessed a notable trend towards natural and holistic health solutions, leading to a significant transformation in consumer preferences and industry dynamics. This shift is driven by an increasing awareness of the benefits of plant-based supplements, such as Ayurvedic Products, in addressing various health concerns. Consumers are seeking herbal supplements that offer comprehensive health benefits, including supporting vitality, boosting immune function, and promoting long-term well-being. Key herbal supplements, such as Vitamin C, Echinacea, Aloe Vera, Green Tea, curcumin, and various Ayurvedic herbs like Moringa, Flaxseeds, Turmeric, Ginger, and Ginseng, have gained popularity due to their therapeutic properties.
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.
What are the market trends shaping the Herbal Supplements market?
- Growing trend towards personalized nutrition and wellness solutions is the upcoming market trend.The herbal supplement market is experiencing a significant shift towards personalized nutrition and wellness solutions, driven by evolving consumer preferences and technological advancements. Consumers are increasingly seeking herbal products tailored to their unique health needs and goals. This trend is influenced by the growing awareness of personalized nutrition and its potential benefits. For instance, individuals are turning to herbal supplements to address specific health concerns, such as stress management, immune support, or digestive health. This demand for customized solutions aligns with the broader trend towards holistic and individualized approaches to health and wellness. Plant-based supplements, such as Ayurvedic Products derived from Ayurveda, are gaining popularity due to their natural origins and potential health benefits.
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.
What challenges does the Herbal Supplements Industry face during its growth?
- Stringent regulation on herbal supplements is a key challenge affecting the industry growth.The herbal supplement market, comprised of plant-based solutions such as Ayurvedic Products, Echinacea, Aloe Vera, Green Tea, and others, has experienced notable challenges due to stringent regulations. These regulations have influenced market dynamics, impacting product availability, innovation, and consumer confidence. For instance, manufacturers must comply with complex and rigorous regulatory frameworks in regions like the EU and certain US states. These regulations encompass safety, quality control, labeling, and marketing claim requirements. This stringent regulatory environment has increased barriers to market entry and product approval, affecting the market's growth. Consumer needs for herbal supplements continue to rise as chronic diseases, such as obesity, weight gain disorders, diabetes, cardiovascular disease, and cancer, become more prevalent due to an aging population, sedentary lifestyles, and Westernization of diets.
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.
Exclusive Customer Landscape
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
Key Companies & Market Insights
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:
- 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.
- The Procter and Gamble Co.
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.
Research Analyst Overview
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 |
What are the Key Data Covered in this Herbal Supplements Market Research and Growth Report?
- CAGR of the Herbal Supplements industry during the forecast period
- Detailed information on factors that will drive the growth and forecasting between 2024 and 2028
- Precise estimation of the size of the market and its contribution of the industry in focus to the parent market
- Accurate predictions about upcoming growth and trends and changes in consumer behaviour
- Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
- Thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the herbal supplements market growth of industry companies
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