What Has Driven the Growth of the Herbal Supplements Market in Recent Years?
The herbal supplements market has seen considerable growth due to a variety of factors.
• The market size of herbal supplements has seen substantial growth in the recent years. The expansion from $49.71 billion in 2024 to a projected $53.8 billion in 2025, represents a compound annual growth rate (CAGR) of 8.2%.
The marked growth during the historical period is due to a rise in consumer awareness, a trend towards preventative healthcare, an increase in lifestyle-based health concerns, along with various governmental initiatives and regulations.
What is the Forecasted Market Size and CAGR for the Herbal Supplements Market?
The herbal supplements market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of herbal supplements is predicted to witness significant expansion in the coming years. Its projected growth is expected to reach $71.41 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 7.3%.
This growth over the predicted period can be linked to ongoing consumer education, the increase in the elderly population worldwide, wellness trends, customization and personalization, market innovations and diverse product offerings. Additionally, key trends expected to play a pivotal role in this period encompass environment-friendly packaging practices, traditional and cultural influences, alliances and collaborations, along with an increasing demand for personalized nutrition.
What Are The Key Drivers Fueling Growth In The Herbal Supplements Market?
The herbal supplements market is experiencing substantial growth due to the rising population of health-focused consumers. These supplements, devoid of chemicals, are known for their numerous health benefits, including supplementing diets and healing common ailments. The International Food Information Council's (IFIC) 2022 food and health survey reveals a marked increase in health awareness among Americans. With 52% of Americans in 2022 stating that they had followed a specific dietary pattern or diet in the preceding year, a noticeable upswing from 39% in 2021, it is anticipated that the herbal supplements market will experience further growth. This is mainly attributed to the escalating number of individuals prioritizing their health.
What are the Market Segments in the Herbal Supplements Market?
The herbal supplements market covered in this report is segmented –
1) By Form: Tablets, Capsules, Liquid, Powder And Granules, Soft Gels
2) By Sources: Leaves, Fruits, Roots, Vegetables, Barks
3) By Application: Food And Beverages, Pharmaceuticals, Personal Care
4) By Distribution: Store Based, Non-Store Based
Subsegments:
1) By Tablets: Compressed Herbal Tablets, Coated Herbal Tablets
2) By Capsules: Hard-Shell Capsules, Soft-Shell Capsules
3) By Liquid: Herbal Extracts, Herbal Tinctures
4) By Powder And Granules: Herbal Powders, Granulated Herbal Supplements
5) By Soft Gels: Herbal Soft Gel Capsules, Gelatin-Based Herbal Soft Gels
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What Trends are Shaping the Herbal Supplements Market Size?
Businesses within the herbal supplements industry are amplifying their research and development investments, contributing towards a positive trajectory in the market. For instance, in February 2022, Amway, a US firm specializing in health, beauty, and home care products, formed a partnership with IIT Bombay, an Indian technology institute, to accelerate its botanical, nutraceutical, and herbal supplement research endeavors. Through this collaboration, Amway's internal research team and IIT Bombay aim to bring innovation to various sectors and enhance Amway's nutritional and herbal product and ingredient line.
Who Are the Key Players in the Herbal Supplements Market?
Major companies operating in the herbal supplements market include:
• Archer Daniels Midland Company
• Glanbia plc
• Herbalife Nutrition International of America Inc.
• NBTY Inc.
• Dabur India Ltd.
• Blackmores Limited
• Swanson Health Products
• Weleda AG
• Now Health Group
• Nutraceutical International Corporation
• Ricola AG
• DSM Nutritional Products Ltd.
• Dr. Willmar Schwabe GmbH & Co. KG
• Jarrow Formulas Inc.
• Taiji Group
• Gaia Herbs
• Arizona Natural Products LLC
• Bio-Botanica Inc.
• Sunfood Nutraceuticals
• Solgar Inc.
• ABCO Laboratories Inc.
• Nature's Bounty Co.
• Wonder Laboratories
• Ancient Greenfields Pvt. Ltd.
• NaturaLife Asia Co. Ltd.
• Herbochem Sdn. Bhd.
• Third Coast Herb Co.
• Wellness Origin Indy
• Kunming Pharmaceutical Corporation
• Herbal Africa
• Rainbow Light Nutritional Systems Inc.
• MegaFood
• Barlean's Organic Oils LLC
• NutriGold Inc.
• Premier Health Products Ltd.
• Z Natural Foods
What are the Regional Insights into the Herbal Supplements Market?
North America will be the largest region in the herbal supplement market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the herbal supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
