The global herbal supplements market size is expected to grow from $9.42 billion in 2021 to $10.10 billion in 2022 at a compound annual growth rate (CAGR) of 7.27%. The growth in the market is mainly due to the companies' resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global herbal supplement market size is expected to reach $13.32 billion in 2026 at a CAGR of 7.16%.
What is the Global Herbal Supplements Market?
The herbal supplements market consists of sales of herbal supplements by entities (organizations, sole traders, and partnerships) that refer to supplements derived from plants that are used for improving health conditions. Herbal supplements that are generally extracted from natural raw materials such as moringa, echinacea, cohosh, turmeric, ginger, flaxseeds, and other herbs are sold in the form of capsules, tablets, powder, or liquid having certain medicinal properties.
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What drives the Global Herbal Supplements Market?
The increasing number of health-conscious consumers is significantly driving the growth of the herbal supplements market. Herbal supplements have numerous health benefits and are chemical-free. They are used to supplement diets and cure common ailments. According to the International Food Information Council's (IFIC) 2020 food and health survey, Americans have a strong interest in becoming more health-conscious, with 43% following a specific diet or eating pattern in 2020, up 38% from 2019. Also, 54% of all consumers cared more about the healthfulness of their food and beverage choices in 2020 than they did in 2010. Hence, the increasing number of health-conscious people is expected to propel the growth of the herbal supplements market in the forecast period.
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Global Herbal Supplements Market Segments
The global herbal supplements market is segmented:
By Form: Tablets, Capsules, Liquid, Powder and Granules, Soft Gels
By Source: Leaves, Fruits, Roots, Vegetables, Barks
By Application: Food and Beverages, Pharmaceuticals, Personal Care
By Distribution: Store Based, Non-Store Based
By Geography: The regions covered in the herbal supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Herbal Supplements Global Market Report 2022provides market size and growth forecasts for the global herbal supplements market, global herbal supplements market share, herbal supplements market segments and geographies, herbal supplements market competitive landscape including leading competitors’ revenues, profiles and market shares. The herbal supplements market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Herbal Supplements Industry Playersinclude Ancient Greenfields PVT LTD, Archer Daniels Midland Company, Arizona Natural Products, Bio-Botanica Inc., Blackmores, Herbalife International of America, Inc., Ricola, Solgar, Inc., Jarrow Formulas, Inc., Glanbia PLC, Gaia Herbs, NBTY, Inc., Nature's Bounty, NaturaLife Asia Co., Ltd., Nutraceutical International Corporation, herbochem, Swanson Health Products, Third Coast Herb Co., Now Health Group, Herbal Africa, Sunfood Nutraceuticals, Wonder Labs, Wellness Origin Indy, ABCO Laboratories, Inc., Dabur, Weleda, Schwabe, Kunming Pharma, Taiji, DSM, and Rainbow Light Nutritional Systems. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
