The herbal supplement market is poised for remarkable growth, with projected revenues reaching US$ 93,886.3 million in 2024. Fueled by the increasing appeal of natural and plant-based supplements, the market is expected to achieve a robust year-on-year growth rate of 7.6% throughout the forecast period. By leveraging this promising CAGR, the herbal supplement industry is on track to reach a revenue potential of US$ 194,859.4 million by 2034.
Key Trends and Analysis in the Herbal Supplement Market:
- Pharmaceutical firms are conducting research on novel herbal supplements in response to the growing demand for herbal treatments.
- Herbal supplements containing immune-boosting components like elderberry, echinacea, and astragalus are gaining significant traction.
- Adaptogenic herbs such as Rhodiola rosea and ashwagandha are witnessing increased demand due to their ability to support mental well-being and reduce stress and anxiety.
- Curcumin, an herbal ingredient, is gaining popularity as a natural coloring agent in the food sector, used in products like ketchup, butter, crackers, cheese, and yellow cake.
- The rising preference for clean-label and organic herbal supplements is shaping the market orientation of industry participants.
Click Here to Get Free Sample Copy of this Report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-11311
Diabetes, heart disease, cancer, as well as other chronic illnesses are on the rise all over the world. An increase in the frequency of medical issues has resulted in a greater awareness of eating well. Because of better lifestyles and dietary habits, customer awareness of fitness and health has increased in countries like India and China.
People are becoming more conscious of what they eat and the benefits of herbal supplements, which is fueling the herbal supplement market’s rise. Furthermore, changes in their lifestyle have forced them to place a higher value on their health.
Key Takeaways from Market Study
- The herbal supplements market is expected to expand at CAGRs of 7.8% and 15% in US and the Middle East & Africa, respectively, through 2034.
- The Asia Pacific Herbal Supplements market rose by 6.6% year over year, defying early predictions about how the business would function in the event of a worldwide pandemic. Natural supplement demand/sales contributed roughly 33% of overall supply in North America in 2024.
- The European herbal supplements market is currently pegged at 32% of the total market share.
- Herbal Supplement components are selling well in worldwide marketplaces, because to rising consumer demand for nutritionally balanced foods.
- In 2024, world consumption for plant-based supplements grew by 10.3% year over year. It has 43% of the herbal supplement marketplace and is predicted to increase at a significant pace of 7.2 percent by 2034.
- During the timeframe of 2017-2022, curcumin ingredient revenue increased by 9.8%.
“Herbal supplement companies might make a lot of money if they targeted the food and beverage industries. Because of the rising need for biomedical products around the world, the nutritional supplements business might be a strong market for herbal supplements,” says a Future Market Insights analyst.
Purchase this Premium Research Report | Immediate Delivery Available@ https://www.futuremarketinsights.com/checkout/11311
Competitive Landscape for the Herbal Supplement Market
Across North America, total demand for natural supplements contributed around one-third of the total sales in 2023 making it the global hub for herbal supplement businesses. However, many emerging companies in Asia are looking to expand their product range by including Ayurveda and other traditional medicine ingredients and introducing them to the global market.
Key Players Profiled
- Glanbia plc
- Jarrow Formulas, Inc.
- Archer Daniels Midland Company
- Nature’s Bounty
- Herbalife International of America, Inc.
- Blackmores
- Nutraceutical International Corporation
- Gaia Herbs
- Jarrow Formulas, Inc.
Recent Developments
- Herbalife: In 2022, the company launched its meal replacement range, which focuses on nutrients and is easy to consume. Products range from shakes to baked pastries and snacks. In 2021, the company introduced digestive health products with a dietary fiber complex. The manufacturing process is based in the United States and Canada.
- Nuvothera Inc.: In 2019, the company announced the launch of a supplement project that entails micronized Turmeric that will lead to an increase in beverages including curcumin. The product is expected to increase the customer base as the product offers certain health benefits and will reduce the dependency on medicines.
- Archer Daniels Midland: In 2019, the company announced the acquisition of Protix, a probiotics manufacturing company. This will enable the company to innovate and research natural healthcare supplements for humans and pets.
Segments Covered in Herbal Supplements Market Analysis
Form:
- Soft Gel/Pills
- Confectionery Products
- Gummies
- Chews
- Others
- Pharmaceutical Products
- Chewable pills
- Gel caps
- Powder
- Liquid
Ingredients:
- Moringa
- Echinacea
- Flaxseeds
- Turmeric
- Ginger
- Ginseng
- Other ingredients (Horehound, Elderberry, etc)
Consumer Orientation:
- Men
- Women
- Senior citizens
- Others (Kids & Toddlers)
Application:
- Weight Loss
- Sports Nutrition
- General Well-being
- Immune & Digestive Health
- Bone & Joint Health
- Heart Health
- Other specific requirements (Supplements, Anti-allergies & Eye-health)
Distribution Channel:
- Store Based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Drug Stores and Pharmacies
- Health and Wellness Stores
- Other Retailers
- Online Retailing
Region:
- North America
- Latin America
- Europe
- APEJ
- Japan
- Middle East & Africa
Access the Complete Report Methodology Now@ https://www.futuremarketinsights.com/request-report-methodology/rep-gb-11311
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube