The revenues of the Elderberry Supplements Market valued at USD 1.1 billion in 2022, is projected to grow at a CAGR of 8.9% from 2023 to 2033, reaching a valuation of USD 2.9 billion by the end of the forecast period. Capsules are anticipated to be the leading revenue-generating form, with a projected CAGR of over 8.8% during the same period.
Elderberry supplements are witnessing increased demand due to their health benefits, particularly in easing flu symptoms and boosting immunity. Rich in vitamins, antioxidants, and flavonoids, elderberry supplements support immune health and combat free radicals. The COVID-19 pandemic has further accelerated demand for immunity-boosting supplements, with elderberry supplements experiencing a significant surge in sales.
Elderberry supplements are available in various forms such as capsules, liquids, syrups, gummies, teas, lozenges, and powder form. These supplements are primarily used as immunity-boosting supplements due to their being rich in vitamins and antioxidants.
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These supplements are often used to prevent and treat cold symptoms such as fever, and fatigue during flu season. According to WHO, seasonal flu causes around 3 to 5 million severe cases around the world and 0.3 to 0.6 million deaths due to respiratory health complications. A study of elderberry supplements on over 300 airplane passengers during flu season concluded that people who took supplements and got sick recovered faster.
Growing Factors:
- Health Benefits: Elderberry supplements are known for their immune-boosting properties, aiding in flu prevention and symptom alleviation. The rise in flu cases globally and the increased awareness of the importance of immunity have contributed to the growing demand for elderberry supplements.
- COVID-19 Impact: The pandemic has led to a substantial increase in demand for elderberry supplements, with sales witnessing significant growth. Changed consumer behavior towards health supplements is expected to sustain post-pandemic, driving continued demand for elderberry supplements.
- Cholesterol Management: Research suggests that elderberry supplements may help lower blood cholesterol levels, presenting an additional benefit that can drive market growth, especially in regions with high cholesterol prevalence.
Competitive Analysis:
Key players in the Elderberry Supplements Market are Jarrow Formulas, Inc., Solgar, Inc., Nature’s Bounty, Ancient GreenFields Pvt. Ltd., Gaia Herbs, Now Foods, Archer Daniels Midland Company, Glanbia plc, Blackmores and Nutraceutical International Corporation
The companies are manufacturing elderberry supplements in the form of capsules, syrups, and gummies. They are also launching new products to match up with the consumers’ needs for organic and vegan options for these immunity supplements.
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Key Takeaway for Investors:
- Lucrative Growth Potential: The elderberry supplements market offers promising growth prospects, with a projected CAGR of 8.9% and a valuation of $2.9 billion by 2033. Investors can capitalize on this growth trajectory by investing in companies involved in elderberry supplement production and distribution.
- Health and Wellness Trends: The increasing focus on health and wellness, coupled with the demand for immunity-boosting supplements, presents attractive opportunities for investors. Elderberry supplements, with their proven health benefits, are well-positioned to capitalize on these trends.
- Regional Analysis: Regions like North America, the United Kingdom, South Korea, and China offer significant growth opportunities in the elderberry supplements market. Investors should explore investment opportunities in companies operating in these regions to maximize returns.
- Product Form and Application: Capsules are expected to witness the fastest growth in the elderberry supplements market, presenting investment opportunities in companies specializing in capsule formulations. Additionally, the pharmaceutical industry is projected to witness significant growth in elderberry supplement sales, emphasizing the medicinal benefits of these supplements.
A few of the recent developments in the Elderberry Supplements Market are:
- In August 2022, Spain-based Nektium launched an organic version of elderberry extract to match up with the growing demand for natural and organic ingredients from consumers.
- In July 2021, S. brand Gaia Herbs launched a new black elderberry tonic to expand its line of best-selling elderberry products. The product got certification from USDA as an organic immunity health product to support daily immunity needs.
- In November 2020, a U.S.-based company Cymbiotika added new vegan elderberry supplements to their product line named Liposomal Elderberry Defense. They announced it to be the first elderberry supplement produced with their patented liposomal delivery system.
- In July 2020, S. brand Gaia Herbs launched three USDA-certified Organic black elderberry gummies for extra strength, daily immunity requirements, and children’s health.
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Segmentation of the Elderberry Supplements Market
By Form:
- Capsules
- Liquid
- Gummies
- Syrups
- Teas
- Lozenges
- Powder
- Others
By End Use Industry:
- Food & beverages
- Pharmaceuticals
By Distribution Channel:
- Supermarkets and Hypermarkets
- Drug Stores and Pharmacies
- Online Sales
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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