WASHINGTON, Oct. 11, 2022 (GLOBE NEWSWIRE) -- According to a report by Vantage Market Research, the Global Herbal Supplements Market was worth USD 70 billion in 2020 and is expected to be worth USD 124 billion by 2028, with a CAGR of 6.5% between 2021 and 2028. The report gives an in-depth look at the top segments, changing market trends, value chain, key investment pockets, competitive scenario, and regional landscape. The report is an important and helpful source of information for leading market players, investors, new entrants, and other stakeholders who want to make new plans for the future and take steps to strengthen their position in the market. in a report, titled “Herbal Supplements Market Size by Source (Leaves, Barks, Fruits & Vegetables, Roots), by Application (Pharmaceuticals, Food & Beverage, Personal Care), by Function (Medicinal, Aroma), by Form (Powder, Syrups, Oils, and Capsules & Tablets)by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028).”
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Top Companies Profiles:
- Archer Daniels Midland Company
- Glanbia plc
- Herbalife International of America, Inc.
- Blackmores
- Nutraceutical International Corporation
- NBTY, Inc.
- Arizona Natural Product
- Ricola.
Market Dynamics:
Driver: Rising Consumer Awareness
Herbal supplements are used widely for properties such as, remedies and medicinal for various diseases from decades. People are inclining toward these herbal supplements owing to its health benefits across the globe. Herbal supplements are such substances which are non-pharmaceuticals and natural non-food and are used to enhance health. Herbal supplements come from plant materials and have noside effects or little. Herbal supplements demand is rising owing to their natural label, that attract the consumers, who wants to work on their health and are also health conscious. Furthermore, increased prices products such as medicinal and dietary will further drive the herbal supplements and remedies market growth globally.
Rapid surge in aging population, increase in health supplements consumption, focus on healthy living, and increase in shift toward precautionary healthcare fuels the market. Other factors, like, side effects associated with allopathic drugs and rise in demand for dietary supplements also drive the market growth.
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Scope of the Report:
| Report Attributes | Details | |
| Market Size in 2022 | $70 Billion | |
| Revenue Forecast by 2028 | $124 Billion | |
| CAGR | 6.5% from 2021 to 2028 | |
| Base Year | 2021 | |
| Forecast Year | 2022 to 2028 | |
| Key Players | • Archer Daniels Midland Company • Glanbia plc • Herbalife International of America, Inc. • Blackmores • Nutraceutical International Corporation • NBTY, Inc. • Arizona Natural Product • Ricola. | |
Global Herbal Supplements Market Segmentation:
Source
- Leaves
- Barks
- Fruits & Vegetables
- Roots
Application
- Pharmaceuticals
- Food & Beverage
- Personal Care
Function
- Medicinal
- Aroma
Important questions answered in this report:
- What is the market volume for the global Herbal Supplements market?
- What is the global Herbal Supplements market growth?
- What are the global Herbal Supplements market drivers?
- What are the key industry trends in the global Herbal Supplements market?
- What is the impact of COVID-19 on the global Herbal Supplements market?
- What is the global Herbal Supplements market breakup by product type?
- What is the global Herbal Supplements market breakup by manufacturing process?
- What is the global Herbal Supplements market breakup by application?
- What are the major regions in the global Herbal Supplements market?
- Who are the key companies/players in the global Herbal Supplements market?
Restraint: Lack of Skilled Force
Strict regulatory policy for herbal supplements and small acceptance by the consumers limit the market growth of Herbal Supplements. The factors like, regulatory impact of the Herbal Supplements Market on the future growth and the high cost while buying raw materials are some factors hampering the market overall. Lack of experts and manufacturing equipment are some other barriers for the Market. Nevertheless, establishment of CGMP (current good manufacturing practice) regulations by the U.S. Food and Drug Administration (FDA) offers various opportunities to the companies to R&D dietary supplements.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Herbal Supplements Market Forecast Report (2022-2028).
Regional Trends
Asia-Pacific is anticipated to rise at the fastest CAGR in the coming years. Consumer reliance on the efficacy and safety of herbal products, presence of a large aged population base, and new product launches along with rising exports of herbal products further drives the market growth in Asia Pacific.
Recent Developments
- May, 2018: Genomatica and Bio-Botanica partner to build a new extract line. It will contain Genomatica’s elixir ingredient, Brontide, it is a butylene glycol which is derived from a renewable, sustainable sugar fermentation process and is manufactured using Bio-proprietary Botanica’s Bio-Chelation process to ensure the extracts contain as many naturally occurring materials as found in nature.
- August, 2018: Archer Daniels Midland Company announced the successful completion of its acquisition of Probiotics International Limited, also known as Protexin, a UK-based provider of innovative research-based, natural healthcare and probiotic supplements for human, pet, and production-animal usage.
- Jan, 2021: Herbalife launched a combination for converting meal replacement shakes into nutrient-dense baked pastries.
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The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
The report on Herbal Supplements Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Advantages of this Research:
- Evaluate market share for commercial Herbal Supplements market opportunities, track market size, competitive drug sales, synthesis insights for commercial development and licensing.
- Develop tactics and strategies to take advantage of opportunities in the Herbal Supplements market.
- Latest Trends and Market Events and analyze essential events in Herbal Supplements market.
- Develop an in-depth knowledge of competition and analyze sales data to update your brand planning trackers.
- Answer vital business questions; supports decision making in R&D to long term marketing strategies
- Develop economic models, forecast models, and healthcare frameworks.
Customization of the Report:
The report can be customized as per client needs or requirements. For any queries, you can contact us at sales@vantagemarketresearch.com or +1 (202) 380-9727. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.
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