Global Herbal Supplements Market was valued US$ 5.61 Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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The major driving factor of the global herbal supplements market is rising inclination towards natural products, awareness regarding preventive healthcare, growing number of the self-directed or self-diagnose consumers, and surging spending on health and wellness. Additionally, the growing elderly population coupled with the rising prevalence of chronic conditions is also propelling the demand for herbal products across the globe. Herbal supplements support to maintain cholesterol levels, regulate the digestive system, and reduce stress. Thus, increasing awareness about the health benefits offered by herbal products is also expected to boost market growth.
Many medicine manufacturing companies are launching herbal medicine products as these products are less prone to side effects, thus these factors act as a beneficial opportunity for the herbal supplements market during the forecast period. Herbal supplements are less effective and thus results in delayed recovery in many medical conditions are hampering the market growth.
The herbal supplements market is majorly segmented into product, formulation, source, function, application, and region. Based on product, Herbal supplements market based on product includes moringa, echinacea, flaxseeds, turmeric, ginger, and ginseng. Herbal supplements market in terms of formulation is classified into liquid, powder & oils, soft gels, capsules & tablets, syrups, and others. Based on herbal supplements market, source segment is divided into leaves, fruits &, vegetables, barks, roots, and others. In terms of function segment herbal supplements market is categorized into medicinal, aroma, and others. Further, herbal supplements market based on application includes pharmaceuticals, food & beverages, and personal care.
In terms of formulation, capsules & tablets segment dominated the market due to the growing pharmaceutical industry and consumer preference for tablets & capsules due to ease in consumption. Based on application, the pharmaceutical segmented holds the XX % of largest market share, due to increasing efficiency in research & development initiatives by manufacturers.
Further source segment, leaves segment accounted for the largest market share, herbal supplements are largely made up of plant leaves. Leaves of herbal plants contain medicinal properties, which are extracted for the production of herbal supplements. Ginkgo biloba and Camellia sinensis that is green tea are some of the common leaf extracts used to make herbal supplements.
In terms of function, medicinal segment accounted for the XX % of largest market share, owing to medicinal function of herbal plants have no side effects leading to its increased demand. Growth is also expected in developing regions such as Africa, which offers a considerable opportunity for herbal supplements market in developing regions due to high consumer acceptability.
On the basis of region, Asia Pacific region dominates the global herbal supplements market and is also expected to grow at the highest CAGR during the forecast period due to growing number of health-conscious young people, growing self-diagnosis trend by young couples, increasing consumption of fast-food, which are less nutritional, growing disposable income among middle class family, personal factors, functional factors and social factors.
The objective of the report is to present comprehensive analysis of Global Herbal Supplements Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in Global Herbal Supplements Market dynamics, structure by analyzing the market segments, and project the Global Herbal Supplements Market size. Clear representation of competitive analysis of key players by Global Herbal Supplements Market Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Herbal Supplements Market make the report investor’s guide.
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Global Herbal Supplements Market, by Product:
• Moringa
• Echinacea
• Flaxseeds
• Turmeric
• Ginger
• Ginseng
Global Herbal Supplements Market, by Formulation:
• Liquid
• Powder & Oils
• Soft gels
• Capsules & Tablets
• Syrups
• Other
Global Herbal Supplements Market, by Source:
• Leaves
• Fruits & Vegetables
• Barks
• Roots
• Others
Global Herbal Supplements Market by Function:
• Medicinal
• Aroma
• Others
Global Herbal Supplements Market by Application:
• Pharmaceuticals
• Food & beverages
• Personal care
Global Herbal Supplements Market, by Region:
• North America
• Europe
• Middle East & Africa
• Asia Pacific
• Latin America
Key players operating in Global Herbal Supplements Market:
• Archer Daniels Midland Company
• Glanbia PLC
• Herbalife International of America, Inc.
• Blackmores Limited
• Nutraceutical International Corporation
• Nbty, Inc.
• Arizona Natural Products
• Ricola AG
• Naturalife Asia Co., Ltd.
• Bio-Botanica Inc.
• Jarrow Formulas, Inc.
• Herbochem
• Nutrova
• Third Coast Herb Co.
• Healthy Origins USA
• NOW Health Group, Inc.
• Swanson Health Products
• NatureSmart, LLC
• The Nature's Bounty Co.
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