Authored By: Sarah
11 Jul 2024

 Herbal Supplements Market Size to grow by USD 32.87 billion between 2024-2028

According to a research report “ Herbal Supplements Market” by Distribution Channel (Offline, Online) Formulation (Capsules, Tablets, Powders, Others) Geography (North America, Europe, Asia, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 32.87 billion, at a CAGR of  6.68% during the forecast period. The herbal supplement market has witnessed a substantial increase in consumer interest due to the growing awareness and preference for natural and holistic health solutions. This trend has significantly impacted market dynamics, with an emphasis on products that offer comprehensive health benefits. Consumers are increasingly seeking herbal supplements that support overall vitality, bolster immune function, and promote long-term well-being. Key factors driving this shift include a more informed consumer base, rising health consciousness, and a growing body of scientific evidence supporting the efficacy of herbal remedies. These factors have led to an influx of innovation and product development in the herbal supplement industry.

Browse market data tables, figures, and in-depth TOC on “Herbal Supplements Market” by Distribution Channel (Offline, Online) Formulation (Capsules, Tablets, Powders, Others) Geography (North America, Europe, Asia, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Distribution Channel, the Offline segment is projected to dominate the market size in 2024

ai_market_segmentation_by

By Formulation, Capsules  segment is expected to hold the largest market size for the year 2024

Offline distribution channels play a pivotal role in the herbal supplement market, encompassing retail stores, pharmacies, supermarkets, and health food outlets. These physical touchpoints offer consumers direct access to a vast selection of herbal supplements, enabling them to make informed decisions through firsthand product interaction. Notable retailers like Walmart, CVS, and GNC, with dedicated herbal supplement aisles, underscore the significance of offline channels. Effective merchandising and knowledgeable staff engage customers, facilitating informed purchases and navigating the diverse herbal supplement offerings.

North America is forecasted to hold the largest market size by region in 2024

The herbal supplement market in North America holds a prominent position in the global industry, characterized by a burgeoning consumer base seeking natural and holistic health solutions. This region's market has experienced robust growth, driven by heightened consumer awareness of the potential health benefits offered by herbal products. One significant contributing factor to this expansion is the increasing preference for organic and natural products. Notable herbal supplements, such as turmeric for its anti-inflammatory properties and echinacea for immune support, have gained significant popularity. This consumer trend aligns with North America's strong emphasis on health and wellness, leading to increased demand for herbal supplements.

The Herbal Supplements Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market 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.
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

The herbal supplements market is a significant segment of the Health and Wellness industry, with a growing demand for Liquids, Powders, Capsules, and Tablets containing Active Ingredients derived from Plants or Botanicals. This market caters to various health concerns, including Therapeutic Dietary Supplements for Preventive Healthcare. With an aging population, there is a surge in the demand for herbal supplements to manage conditions like diabetes, weight gain disorders, and obesity rate. The pharmaceuticals section is witnessing a shift towards plant-based supplements, such as Ayurvedic Products, which include Curcumin, a popular anti-inflammatory ingredient. Key players in the herbal supplements market include NutraGreen, Gaia Herbs, Green Tea, Aloe Vera, Echinacea, and Vitamin C. These brands offer a wide range of herbal supplements, from leaves to capsules and tablets. The popularity of herbal supplements can be attributed to their natural origin and potential therapeutic benefits. As people seek alternative ways to maintain their health, the herbal supplements market is expected to continue its growth trajectory. Moreover, the trend towards plant-based diets and the increasing awareness of the benefits of Ayurveda are further fueling the demand for herbal supplements. With continued innovation and research, the future of the herbal supplements market looks promising.

Market Research Overview

The herbal supplements market in North American nations has witnessed significant growth in recent years, driven by increasing healthcare spending, obesity rates, and the growing trend towards veganism and plant-based diets. Regulatory attention towards dietary supplements has led to an increase in demand for therapeutic supplements, with active ingredients derived from plants or botanicals, such as ginseng, ginger, turmeric, flaxseeds, moringa, and various Ayurvedic products. Fitness enthusiasts and those seeking stress reduction and digestive system regulation are turning to herbal supplements as alternatives to pharmaceuticals. The elderly population, with its unique health needs, also contributes to the market's growth, with herbal supplements used for cholesterol maintenance, diabetes, and weight gain disorders. The herbal supplements market offers a diverse range of products, including powders and granules, liquids, and tablets or capsules. Popular supplements include turmeric solutions like CurcuFlow, which offer benefits for chronic diseases such as cancer, cardiovascular disease, and diabetes. Other popular supplements include green tea, aloe vera, Echinacea, and Vitamin C. Non-store-based sales, such as online sales, have grown significantly, with consumers seeking convenience and competitive pricing. Traditional medicine, once relegated to the pharmaceuticals section, is now a major player in the health and wellness industry. Brands like Gaia Herbs and NutraGreen offer high-quality herbal supplements, meeting the diverse consumer needs of the modern world.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio