Herbal Supplements Market by Top Competitor, Regional Shares, and Forecast 2030
Herbal Supplements Market Overview
Growing demand for anti-aging and weight loss supplements is
expected to drive the global herbal supplements market at a robust growth rate
over the forecast period from 2022 to 2030, according to the latest research
report from Market Research Future (MRFR).
Competitive Analysis:
The global herbal
supplements key market players include Naturalife Asia Co. Ltd., Blackmores
Limited, NBTY, Ricola, Glanbia plc, Herbalife, and Archer Daniels Midland Co.
Segmentation:
The global herbal supplements market overview is segmented
on the basis of ingredient, delivery format, function, and region.
By ingredient, the global herbal supplement market is
segmented into stevia, ginseng, ginkgo, epimedium, green tea, hawthorn, aloe
vera, and others.
By delivery format, the global herbal supplement market is
segmented into capsules, liquids, tablets, powders, and others. The capsule
format is likely to dominate the global herbal supplements market over the
forecast period due to the growing demand for capsule-style deliveries of
herbal supplements and the ease of ingesting capsules. Over the forecast
period, the capsules segment is expected to exhibit a higher growth rate than
other formats in the global herbal supplements market.
By function, the global herbal
supplements market is segmented into beauty products, antioxidant digestive
products, weight loss, memory enhancement, regulation of the blood system,
anti-aging, and others. Weight loss is likely to remain the leading segment by
function in the global herbal supplements market due to the growing demand for
weight loss medication in the form of herbal supplements.
Regional Analysis:
Asia Pacific is likely to remain the majority revenue
generator in the global herbal supplements market over the forecast period due
to the growing demand for packaged, branded versions of herbal supplements in
the region. While the region has its own traditions about the use of herbal
supplements, the use of packaging and branding for the sale of herbal
supplements has been a major factor in the growth of the herbal supplements
market in the region. Several countries in Asia and the Pacific, such as India,
China, Thailand, Vietnam, South Korea, Japan, and Cambodia, have their own
traditions regarding the use of herbal supplements on their own or as part of
other food products. This has provided a strong tailwind to the herbal
supplements market size in the region, as marketers haven’t had to spend excessive
amounts on educating people on the benefits of herbal supplements, and a ready
consumer group has already been present in the region even before the advent of
commercialization and marketing.
The growing demand for beauty supplements as well as health
supplements in Asia Pacific is likely to be a major driver for the herbal
supplements market in Asia Pacific over the forecast period. The growing demand
for commercialization of traditional herbal remedies and supplements in Asia
Pacific countries is likely to be a major driver for the herbal supplements
market over the forecast period.
Europe is likely to be a major regional market for herbal
supplements over the forecast period due to the increasing awareness about
herbal supplements and their various benefits in the region. The growing demand
for antioxidants and other anti-aging herbal supplements is likely to be a
major driver for the herbal supplements market in Europe over the forecast
period. Beauty-oriented herbal supplements and skincare supplements that allow
for a younger looking skin are likely to be in high demand in the Europe herbal
supplements market over the forecast period.
North America is also a major regional market for herbal
supplements and is likely to play a major part in the growth of the global
herbal supplements market over the forecast period due to the growing awareness
among consumers about the various end uses of herbal supplements and the
diverse variety of ailments against which they can protect customers. Growing
demand for green tea and black tea products is likely to be a key factor in the
growth of the herbal supplements market in North America over the forecast
period.
Industry News
In 2019, Pukka launched a new range of herbal infusions and
teas aimed at the women demographic. The new products are claimed to relieve
pain related to PMS, or premenstrual syndrome.
NOTE: Our Team of Researchers are Studying Covid19 and
its Impact on Various Industry Verticals and wherever required we will be
considering Covid19 Footprints for Better Analysis of Market and Industries.
Cordially get in Touch for More Details.
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