Global Herbal Supplements Market to Surpass US$ 191.7 Bn by 2030
The global herbal supplements market is projected to reach US$ 191.7 Bn by the end of 2030. The market was valued at US$ 70 Bn in 2020. If these figures hold true, the market will exhibit a CAGR of 10.6% between 2020 and 2030. Some of the main factors contributing to market growth are growing inclination towards natural foods, understanding of preventive health care, and raising health and wellness expenditure. Rising geriatric population coupled with the growing prevalence of chronic conditions is also boosting worldwide demand for herbal products.
Key Research Findings
- Herbal supplements are increasingly garnering attention on the basis of their plant-based origin in recent years.
- Asia-Pacific will emerge as a highly lucrative consumer market for herbal supplements.
- Customer reliance on the protection and efficacy of herbal products is a major driver for growth in this market.
- On the basis of form, the capsules & tablets remain bestselling herbal supplements.
- Herbal supplements continue to gain popularity for their medicinal functionality.
- Leaves remain the preferred source among manufacturers of herbal supplements.
- High demand for plant-based products and easy availability of herbs are driving market growth in fast developing countries such as China and India.
- Regulatory effect on future business growth is a key constraining factor for market growth.
Key Factors Shaping the Herbal Supplements Market
Burgeoning Geriatric Population
A rapidly accelerating geriatric population has augmented the demand for herbal-based dietary supplements. As the proportion of elderly population increases, so do their dietary requirements. Consequently, key manufacturers are focusing on developing herbal-based dietary supplements to increase their market presence.
Augmenting Demand for Plant-based Products
Majority of consumers have been shifting towards a vegetarian diet, particularly in South Asia. This growing trend of scientific plant-based products has broadened market prospects for herbal supplements manufacturers, opening new avenues for business.
FMI’s COVID-19 Impact Analysis
The novel coronavirus has profoundly impacted businesses around the world, with governments cautioning that the situation will eventually worsen. Two of the sectors most under pressure are food and beverages and retail at a time when the industry is under tremendous strain to ensure the country is not running out of supplies. High demand for plant-based products in countries like China and India are driving growth in the regional market. Fears are rising over the effect the COVID-19 outbreak may have on both domestic and foreign food and beverages sectors.
Herbal Supplements Market Structure Analysis
- Blackmores Limited, Arizona Natural Products, Bio-Botanica Inc., Nutraceutical International Corporation, Ricola AG, Nbty Inc., Archer Daniels Midland Company, Glanbia PLC, Herbalife, and Naturalife Asia Co. Ltd. are some of the key companies in herbal supplements market.
- Such companies are introducing new products and partnering with other industry leaders to develop and deliver new products that meet the rising demands and desires of customers.
- Industry leading players are also taking steps to raise customer awareness through fitness subscriptions and other marketing strategies.
Base year considered
Actual estimates/Historical data
2015 – 2019
2020 – 2030
Value (USD) Bn
Product Form, Application, Souces and Region
North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA
Blackmores Limited, Arizona Natural Products, Bio-Botanica Inc., Nutraceutical International Corporation, Ricola AG, Nbty Inc., Archer Daniels Midland Company, Glanbia PLC, Herbalife, and Naturalife Asia Co. Ltd.
Revenue forecast, company share, competitive landscape, growth factors, and trends
Pharmaceuticals to Remain in Demand among Consumers
The pharmaceuticals segment represented the largest share in the market for herbal supplements. Latin American and Asia-Pacific are likely to emerge as potential markets for herbal supplements. The expansion of the pharmaceutical industry will bode well for the herbal supplements market in these regions. Due to the rising demand herbal medicines, some of the most renowned names in the pharmaceutical sector are conducting research on various herbal supplements. Their efforts will in turn create growth prospects for the herbal supplements market in Asia Pacific and Latin America. Asia Pacific already witnesses increasing demand for alternative medicinal products such as traditional Chinese and ayurvedic therapy. In addition to thus, strong growth in the pharmaceutical industry in developing countries, such as India and China, has led to demand in the herbal supplements
In addition to this, continuing demand from food and beverages industry in developed regions such as Europe will aid the market’s growth.
North America Dominated the Market Share
In terms of revenues, North America generated the highest market share and is expected to lead the global market over the forecast period. Growing obese population, government initiatives and funding to promote health consciousness, and changes in lifestyle primarily drive this market's growth. The number of health club and gym memberships has risen dramatically, encouraging the development of the region's herbal supplements industry. The rise in obesity-related illnesses such as diabetes and hypertension along with high customer disposable income further accelerate the adoption of herbal supplements. The Asia-Pacific market for herbal supplements is expected to rise at the highest CAGR over the forecast period. Consumer dependency on the protection and effectiveness of herbal products is the key driver for growth of this market. Regulatory effect on future market growth is the element that restrains market growth.
* This data is only a representation. Actual data may vary and will be available in report.
Rising Consciousness for Healthy Lifestyle is Driving Market Growth
Consumers' increasing knowledge of the health benefits with the use of herbal supplements and the rising geriatric population are among the major factors expected to drive market growth. Growing female purchasers for herbal supplements along with the increasing use of herbal products by the young demographic have driven the global market for herbal supplements. Strict regulations concerning ingredients used in manufacturing, however, may impede global development. In addition, the growing sedentary lifestyle coupled with an individual's increasing disposable income in developing counties is likely to provide the industry with a lucrative opportunity to expand.
Capsules & tablets segment held the leading market share
Powder segment forecast to higher rate of growth
Pharmaceuticals segment holds dominance
Food and beverages segment to rise at a higher CAGR
Leaves segment holds dominance
Barks segment to rise at a higher CAGR
How Growth will Unfold
Around the world obese and geriatric population is growing. As a result there is a high demand for herbal supplements for medicinal purposes. The rising prevalence of sedentary lifestyle, increasing use of nutritious foods, and rising consumer awareness about preventive healthcare are boosting the overall market. Increasing disposable incomes in developing countries, increased awareness of the health benefits of herbal supplements and increasing incidence of health disorders are other crucial factors, driving the herbal supplements market.
Across various developed economies health conditions such as diabetes, cardiovascular diseases, cancer and others have risen dramatically. Increasing incidence of health problems have contributed to a greater understanding of healthy eating habits. In countries including China and India, health and fitness awareness has also increased among consumers as a result of improving lifestyle and increasing eating habits. Consumers are more conscious of their dietary intake, and the benefits of herbal supplements, driving the development of the demand for herbal supplements. Furthermore, changes in lifestyle have made them focus more towards their wellness. This is one of the key areas of function of herbal supplements
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
Custom Market Research Services
FMI offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.
Herbal Supplements Market: Global Industry Analysis 2015-2019& Opportunity Assessment 2020-2030
A recent market study published by Future Market Insights on the Herbal Supplements market offers global industry analysis for 2015-2019 & opportunity assessment for 2019-2029. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the Herbal Supplements market, the growth prospects of the market are obtained with maximum precision.
Herbal Supplements Market Taxonomy
The global Herbal Supplements market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Fruits & Vegetables
- Food & Beverages
- Personal Care
- Tablets and capsules
- North America
- Latin America
The executive summary of the Herbal Supplements market includes the market proprietary wheel of fortune, demand-side and supply-side trends, opportunity assessment, and recommendations on the global Herbal Supplements market.
Readers can find the detailed segmentation and definition of the Herbal Supplements market in this chapter, which will help them understand basic information about the Herbal Supplements market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the Herbal Supplements market report.
The associated industry assessment of the Herbal Supplements market is carried out in this section. The macroeconomic factors affecting growth of the Herbal Supplements market are provided in this section and the impact of these macroeconomic indicators on the Herbal Supplements market is analyzed. The processing overview and technological advancements in the Herbal Supplements market is also provided.
Profit margins at each level of the Herbal Supplements market are analyzed and readers can find detailed information on top importers and exporters as well as the value chain of the Herbal Supplements market.
The drivers and restraints impacting the growth of the Herbal Supplements market are explained in this chapter. Opportunities and ongoing trends in the Herbal Supplements market are also comprehensively discussed.
This chapter includes detailed analysis of the historical Herbal Supplements market (2015-2019), along with an opportunity analysis for the forecast period (2020-2030). Readers can also find the absolute $ opportunity for the current year (2019 - 2020) and incremental opportunity for the forecast period (2020-2030).
Based on source , the Herbal Supplements market is segmented into roots, fruits and vegetables, barks, leaves. In this chapter, readers can find information about key trends and developments in the Herbal Supplements market and market attractiveness analysis based on raw material.
Based on Application, the Herbal Supplements market is classified into food and beverages, Pharmaceuticals, personal care. This part also offers market attractiveness analysis based on Application.
Based on Form, the Herbal Supplements market is classified into oils, syrups, powders, tablets and capsule. This part also offers market attractiveness analysis based on form
This chapter explains how the Herbal Supplements market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, Asia, Oceania, and Middle East and Africa.
This chapter includes a detailed analysis of the growth of the Herbal Supplements market in North America, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on end users and countries in the North America region.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the Herbal Supplements market in Latin America. This chapter also includes growth prospects of the Herbal Supplements market in leading LATAM countries such as Brazil, Mexico, and the Rest of Latin America.
Important growth prospects of the Herbal Supplements market based on its end users in several countries such as Germany, U.K., France, Italy, Spain, BENELUX, Nordic,Russia, Poland, and the Rest of Western Europe are included in this chapter.
This chapter includes a detailed analysis of the growth of the Lipid Nutrition market in the East Asia region, along with a country-wise assessment that includes Japan, China, and South Korea. Readers can also find regional trends, regulations, and market growth based on end users and countries in the APEJ region.
In this chapter, readers can find information about key trends and developments in the key countries of South Asia such as India, Thailand, Malaysia, Indonesia, Singapore, and Rest of South Asia Lipid Nutrition market.
This chapter offers insights into how the Herbal Supplements marketis expected to grow in major countries in the Middle East region such as Australia and New Zealand, during the forecast period 2020-2030.
This chapter contains information about the market growth of Herbal Supplements in Middle East region such as GCC Countries, South Africa, North Africa, and the Rest of Middle East, during the forecast period 2020-2030.
In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the Herbal Supplements market along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of leading manufacturers in the Herbal Supplements market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Herbalife International of America, Glanbia PLC, Archer Daniels Midland Company, Ricola AG, Blackmores limited, Nbty Inc. , Nitraceutical International Corporation, Bio-Botanica Inc., Arizona Natural products, Naturalife Asia Co.Ltd. , Twinlab Corporation, DSM Nutritional Products AG.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Herbal Supplementsreport.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information,on the Herbal Supplements market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- Dieticians Association
- Food and Agriculture Organization
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits