According to Stratistics MRC, the Global Herbal Supplements market is accounted for $49.1 billion in 2016 and is expected to reach $86.7 billion by 2022 growing at a CAGR of 9.9% from 2016 to 2022.
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Various health benefits of herbal supplements, increasing use of functional foods and consumer awareness for preventive healthcare measures will drive the market growth. However, stringent regulations and high raw material cost will hamper market growth. Demand for dietary supplements among women and acquisition of small nutraceutical companies by pharmaceutical manufacturers will provide ample opportunity to grow. Few major trends would be increased demand for multi component botanical formulations, and major companies are performing extensive research to produce phytomedicines and herbal supplements in dentistry.
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Pharmaceutical industry is the fastest growing segment in Herbal Supplements application market due to the consumer’s reliability in the quality and effectiveness of herbal supplements. Retail store segment dominated the distribution channel market segment owing to rise in disposable income and favorable investment for infrastructure. Multi Herbs in product segment is the fastest growing market because of the need for multifunctional medications. Soy and specialty herbs are expected to grow lucratively. North America and Europe accounted for the largest market share with significant growth because of consumer awareness and product availability. In countries such as France, Germany and UK herbal supplements are sold in drugstores. Asia Pacific is witnessed to be the fastest growing market owing to huge consumer base particularly women.
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Some of the key players in global Herbal Supplements market are Archer Daniels Midland Company, Arizona Natural Products, Bio-Botanica Inc., Blackmores Ltd, Gaia Herbs, Glanbia PLC, Herb Pharm, Herbalife International of America, Inc., Naturalife Asia Co., Ltd., Nature’s Bounty, Dr. Willmar Schwabe GmbH & Co. KG, Nutraceutical International Corporation, Rainbow Light Nutritional Systems, Ricola AG, The Himalaya Drug Company, Twinlab Corporation and DSM Nutritional Products Ltd.
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• Other Functions
• Capsules & Tablets
• Other Forms
• Food & Beverages
• Personal Care
• Other Applications
• Fruits & Vegetables
• Other Sources
Distribution Channels Covered:
• Retail Store
o Grocery Stores
o Natural, and Health Food Stores
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• Rest of the World
o Middle East
o South Africa
What our report offers:
– Market share assessments for the regional and country level segments
– Market share analysis of the top industry players
– Strategic recommendations for the new entrants
– Market forecasts for a minimum of 8 years of all the mentioned segments, sub segments and the regional markets
– Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
– Strategic recommendations in key business segments based on the market estimations
– Competitive landscaping mapping the key common trends
– Company profiling with detailed strategies, financials, and recent developments
– Supply chain trends mapping the latest technological advancements
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