Herbal Supplements Market Insights: Revenue, Key Players, and Forecast 2030
Herbal Supplements Market Overview
Herbal Supplements Market is expected to grow at a
substantial pace of 9.01% From 2023 to 2030.
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 2023 to 2030, according to the latest research
report from Market Research Future (MRFR).
Competitive Analysis:
Leading players in the global herbal supplements market
include Naturalife Asia Co. Ltd., Blackmores Limited, NBTY, Ricola, Glanbia
plc, Herbalife, and Archer Daniels Midland Co.
Segmentation:
The global herbal
supplements market outlook 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 insights 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.
Contact us:
Market Research Future (part of Wantstats Research and
Media Private Limited),
Comments
Post a Comment