Herbal Supplement Market - Global Industry Analysis

Market Overview     

The global Herbal Supplement market accounted for USD 71.2 Billion in 2020 and is expected to reach USD 125.7 Billion by 2028, growing at a CAGR of around 6.9% between 2021 and 2028.       

Since decades, herbal supplements are widely being used for their medicinal properties as well as remedies for several diseases. A growing number of people around the globe are switching to the herbal supplements owing to their added health benefits. These supplements are natural non-food substances and non-pharmaceuticals mainly used for improving the health. They are derived from plant materials and have no or little side effects.

There is huge demand for herbal supplements around the globe due to their natural label, which is attracting more number of customers, who want to improve their health and are health conscious. Also, increased prices of medicinal and dietary products propel the growth of the herbal supplements market.

COVID-19 Impact Analysis:

The global Herbal Supplement market has witnessed a significant growth during the COVID-19 pandemic. Inevitably, public health and safety measures are being undertaken to decrease the infection threat and mortality. Hence, the need for improving immune system among the people have driven upsurge in demand for herbal supplements. For instance, according to a recent article published at Nutrition Insight, there is an increasing demand for botanicals not only to or prevent COVID-19 but also to relieve conditions associated with the pandemic’s impact.

The growth in the global Herbal Supplement market size in 2020 is estimated on the basis of the COVID-19 outbreak. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.   

Growth Factors:

Herbal medicines involve various herbal supplements, herbal preparations, herbs, and complete herbal products. The herbal supplement is supposed to be a kind of dietary supplement prepared from natural plants. The global herbal supplement market is estimated to see a large rise in the upcoming period. The global herbal supplement market is principally propelled by the increasing requirement for the herbal supplements. A worldwide rise in the healthcare expenditures is supposed to boost the global herbal supplement market in the upcoming period. Towering costs of drugs, medical devices, and hospital care have triggered to raise the health care cost, which has propelled the global herbal supplement market. The increasing awareness of preventive health care techniques is also a key driving factor for the global herbal supplement market.

Report Scope:

Segment Analysis Preview

Based on the source, the global herbal supplement market is categorized into barks, leaves, roots, and fruits & vegetables. Amongst all the source types, leaves segment from the global herbal supplement market was the biggest expanding segment in the global herbal supplement market for 2020. This segment in the global herbal supplement market accounted for the major market share in terms of profits. Generally, the herbal supplements are prepared using plant leaves. Some herbal supplements are prepared using leaf extracts. These natural contents in the herbal products have led to their consistent requirement in the global herbal supplement market. Others sources such as fruits & vegetables, barks, and roots also are estimated to boost the global herbal supplement market in the upcoming period.

Based on application, the global herbal supplement market is segmented into food & beverages, pharmaceuticals, and personal care. Amongst all the applications, the pharmaceutical segment from the global herbal supplement market is the principal application segment. Pharmaceutical segment from the global herbal supplement market had occupied the utmost CAGR from 2021 to 2028. The R&D in the global herbal supplement market provides enormous business opportunities for the key players.

Based on the function, the global herbal supplement market is bifurcated into aroma and medicinal. Both of them are supposed to be the leading segments in the global herbal supplement market. In 2020, amongst these two segments in the global herbal supplement market, the medicinal segment demonstrated the highest market share.

Region Analysis Preview

North America, Europe, Asia-Pacific, Latin America and Middle East & Africa are key regional segments of global Herbal Supplement market. Asia-Pacific is anticipated to remain the leading region over the forecast period. Huge adoption rate of traditional medicine for the management of a number of diseases in this region is one of the key reasons fueling growth of the market. In addition to this, presence of large geriatric population base coupled with growing exports of herbal products boosts the market growth. India and China are the key exporters of herbal supplements.

Key Market Players & Competitive Landscape

The major players operating in the Herbal Supplement market are Arizona Natural Products, Archer Daniels Midland Company, Blackmores, Bio-Botanica Inc., Herbalife International of America Inc., Glanbia PLC, Nutraceutical International Corporation, Naturalife Asia Co. Ltd., the Nature's Bounty Co., and Ricola. among others.

The global Herbal Supplement market is segmented as follows:   

By Source

• Leaves
• Barks
• Fruits & vegetables
• Roots

By Application

• Pharmaceuticals
• Food & beverages
• Personal care

By Function

•  Medicinal
•  Aroma

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

• Chapter No. 1 Introduction
  • 1.1. Report Description
    • 1.1.1. Purpose of the Report
    • 1.1.2. USP & Key Offerings
  • 1.2. Key Benefits for Stakehulders
  • 1.3. Target Audience
  • 1.4. Report Scope
• Chapter No. 2 Executive Summary
  • 2.1. Key Findings
    • 2.1.1. Top Investment Pockets
      • 2.1.1.1. Market Attractiveness Analysis, By Source
      • 2.1.1.2. Market Attractiveness Analysis, By Application
      • 2.1.1.3. Market Attractiveness Analysis, By Function
      • 2.1.1.4. Market Attractiveness Analysis, By Region
  • 2.2. Market Snapshot
  • 2.3. Global Herbal Supplement Market, 2016 – 2028 (USD Billion)
  • 2.4. Insights from Primary Respondents
• Chapter No. 3 COVID 19 Impact Analysis
  • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
    • 3.1.1. North America
    • 3.1.2. Europe
    • 3.1.3. Asia Pacific
    • 3.1.4. Latin America
    • 3.1.5. The Middle-East and Africa
  • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
  • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
  • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
  • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
    • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
  • 3.6. Short Term Dynamics
  • 3.7. Long Term Dynamics
• Chapter No. 4 Herbal Supplement Market – Source Segment Analysis
  • 4.1. Overview
    • 4.1.1. Market Revenue Share, By Source, 2020 & 2028
  • 4.2. Leaves
    • 4.2.1. Market Size and Forecast, By Region (USD Billion)
    • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
  • 4.3. Barks
    • 4.3.1. Market Size and Forecast, By Region (USD Billion)
    • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
  • 4.4. Fruits & vegetables
    • 4.4.1. Market Size and Forecast, By Region (USD Billion)
    • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
  • 4.5. Roots
    • 4.5.1. Market Size and Forecast, By Region (USD Billion)
    • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
• Chapter No. 5 Herbal Supplement Market – Application Segment Analysis
  • 5.1. Overview
    • 5.1.1. Market Revenue Share, By Application, 2020 & 2028
  • 5.2. Pharmaceuticals
    • 5.2.1. Market Size and Forecast, By Region (USD Billion)
    • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
  • 5.3. Food & beverages
    • 5.3.1. Market Size and Forecast, By Region (USD Billion)
    • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
  • 5.4. Personal care
    • 5.4.1. Market Size and Forecast, By Region (USD Billion)
    • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
• Chapter No. 6 Herbal Supplement Market – Function Segment Analysis
  • 6.1. Overview
    • 6.1.1. Market Revenue Share, By Function, 2020 & 2028
  • 6.2. Medicinal
    • 6.2.1. Market Size and Forecast, By Region (USD Billion)
    • 6.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 6.2.3. Key Market Trends, Growth Factors, & Opportunities
  • 6.3. Aroma
    • 6.3.1. Market Size and Forecast, By Region (USD Billion)
    • 6.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 6.3.3. Key Market Trends, Growth Factors, & Opportunities
• Chapter No. 7 Herbal Supplement Market – Regional Analysis
  • 7.1. Overview
    • 7.1.1. Global Market Revenue Share, By Region, 2020 & 2028
    • 7.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
  • 7.2. North America
    • 7.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
    • 7.2.2. North America Market Revenue, By Source, 2016 – 2028
    • 7.2.3. North America Market Revenue, By Application, 2016 – 2028
    • 7.2.4. North America Market Revenue, By Function, 2016 – 2028
    • 7.2.5. U.S.
      • 7.2.5.1. U.S. Market Revenue, By Source, 2016 – 2028
      • 7.2.5.2. U.S. Market Revenue, By Application, 2016 – 2028
      • 7.2.5.3. U.S. Market Revenue, By Function, 2016 – 2028
    • 7.2.6. Canada
      • 7.2.6.1. Canada Market Revenue, By Source, 2016 – 2028
      • 7.2.6.2. Canada Market Revenue, By Application, 2016 – 2028
      • 7.2.6.3. Canada Market Revenue, By Function, 2016 – 2028
    • 7.2.7. Mexico
      • 7.2.7.1. Mexico Market Revenue, By Source, 2016 – 2028
      • 7.2.7.2. Mexico Market Revenue, By Application, 2016 – 2028
      • 7.2.7.3. Mexico Market Revenue, By Function, 2016 – 2028
  • 7.3. Europe
    • 7.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
    • 7.3.2. Europe Market Revenue, By Source, 2016 – 2028
    • 7.3.3. Europe Market Revenue, By Application, 2016 – 2028
    • 7.3.4. Europe Market Revenue, By Function, 2016 – 2028
    • 7.3.5. Germany
      • 7.3.5.1. Germany Market Revenue, By Source, 2016 – 2028
      • 7.3.5.2. Germany Market Revenue, By Application, 2016 – 2028
      • 7.3.5.3. Germany Market Revenue, By Function, 2016 – 2028
    • 7.3.6. France
      • 7.3.6.1. France Market Revenue, By Source, 2016 – 2028
      • 7.3.6.2. France Market Revenue, By Application, 2016 – 2028
      • 7.3.6.3. France Market Revenue, By Function, 2016 – 2028
    • 7.3.7. U.K.
      • 7.3.7.1. U.K. Market Revenue, By Source, 2016 – 2028
      • 7.3.7.2. U.K. Market Revenue, By Application, 2016 – 2028
      • 7.3.7.3. U.K. Market Revenue, By Function, 2016 – 2028
    • 7.3.8. Italy
      • 7.3.8.1. Italy Market Revenue, By Source, 2016 – 2028
      • 7.3.8.2. Italy Market Revenue, By Application, 2016 – 2028
      • 7.3.8.3. Italy Market Revenue, By Function, 2016 – 2028
    • 7.3.9. Spain
      • 7.3.9.1. Spain Market Revenue, By Source, 2016 – 2028
      • 7.3.9.2. Spain Market Revenue, By Application, 2016 – 2028
      • 7.3.9.3. Spain Market Revenue, By Function, 2016 – 2028
    • 7.3.10. Rest of Europe
      • 7.3.10.1. Rest of Europe Market Revenue, By Source, 2016 – 2028
      • 7.3.10.2. Rest of Europe Market Revenue, By Application, 2016 – 2028
      • 7.3.10.3. Rest of Europe Market Revenue, By Function, 2016 – 2028
  • 7.4. Asia Pacific
    • 7.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
    • 7.4.2. Asia Pacific Market Revenue, By Source, 2016 – 2028
    • 7.4.3. Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 7.4.4. Asia Pacific Market Revenue, By Function, 2016 – 2028
    • 7.4.5. China
      • 7.4.5.1. China Market Revenue, By Source, 2016 – 2028
      • 7.4.5.2. China Market Revenue, By Application, 2016 – 2028
      • 7.4.5.3. China Market Revenue, By Function, 2016 – 2028
    • 7.4.6. Japan
      • 7.4.6.1. Japan Market Revenue, By Source, 2016 – 2028
      • 7.4.6.2. Japan Market Revenue, By Application, 2016 – 2028
      • 7.4.6.3. Japan Market Revenue, By Function, 2016 – 2028
    • 7.4.7. India
      • 7.4.7.1. India Market Revenue, By Source, 2016 – 2028
      • 7.4.7.2. India Market Revenue, By Application, 2016 – 2028
      • 7.4.7.3. India Market Revenue, By Function, 2016 – 2028
    • 7.4.8. South Korea
      • 7.4.8.1. South Korea Market Revenue, By Source, 2016 – 2028
      • 7.4.8.2. South Korea Market Revenue, By Application, 2016 – 2028
      • 7.4.8.3. South Korea Market Revenue, By Function, 2016 – 2028
    • 7.4.9. South-East Asia
      • 7.4.9.1. South-East Asia Market Revenue, By Source, 2016 – 2028
      • 7.4.9.2. South-East Asia Market Revenue, By Application, 2016 – 2028
      • 7.4.9.3. South-East Asia Market Revenue, By Function, 2016 – 2028
    • 7.4.10. Rest of Asia Pacific
      • 7.4.10.1. Rest of Asia Pacific Market Revenue, By Source, 2016 – 2028
      • 7.4.10.2. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
      • 7.4.10.3. Rest of Asia Pacific Market Revenue, By Function, 2016 – 2028
  • 7.5. Latin America
    • 7.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
    • 7.5.2. Latin America Market Revenue, By Source, 2016 – 2028
    • 7.5.3. Latin America Market Revenue, By Application, 2016 – 2028
    • 7.5.4. Latin America Market Revenue, By Function, 2016 – 2028
    • 7.5.5. Brazil
      • 7.5.5.1. Brazil Market Revenue, By Source, 2016 – 2028
      • 7.5.5.2. Brazil Market Revenue, By Application, 2016 – 2028
      • 7.5.5.3. Brazil Market Revenue, By Function, 2016 – 2028
    • 7.5.6. Argentina
      • 7.5.6.1. Argentina Market Revenue, By Source, 2016 – 2028
      • 7.5.6.2. Argentina Market Revenue, By Application, 2016 – 2028
      • 7.5.6.3. Argentina Market Revenue, By Function, 2016 – 2028
    • 7.5.7. Rest of Latin America
      • 7.5.7.1. Rest of Latin America Market Revenue, By Source, 2016 – 2028
      • 7.5.7.2. Rest of Latin America Market Revenue, By Application, 2016 – 2028
      • 7.5.7.3. Rest of Latin America Market Revenue, By Function, 2016 – 2028
  • 7.6. The Middle-East and Africa
    • 7.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
    • 7.6.2. The Middle-East and Africa Market Revenue, By Source, 2016 – 2028
    • 7.6.3. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
    • 7.6.4. The Middle-East and Africa Market Revenue, By Function, 2016 – 2028
    • 7.6.5. GCC Countries
      • 7.6.5.1. GCC Countries Market Revenue, By Source, 2016 – 2028
      • 7.6.5.2. GCC Countries Market Revenue, By Application, 2016 – 2028
      • 7.6.5.3. GCC Countries Market Revenue, By Function, 2016 – 2028
    • 7.6.6. South Africa
      • 7.6.6.1. South Africa Market Revenue, By Source, 2016 – 2028
      • 7.6.6.2. South Africa Market Revenue, By Application, 2016 – 2028
      • 7.6.6.3. South Africa Market Revenue, By Function, 2016 – 2028
    • 7.6.7. Rest of Middle-East Africa
      • 7.6.7.1. Rest of Middle-East Africa Market Revenue, By Source, 2016 – 2028
      • 7.6.7.2. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
      • 7.6.7.3. Rest of Middle-East Africa Market Revenue, By Function, 2016 – 2028
• Chapter No. 8 Herbal Supplement Market – Industry Analysis
  • 8.1. Introduction
  • 8.2. Market Drivers
    • 8.2.1. Driving Factor 1 Analysis
    • 8.2.2. Driving Factor 2 Analysis
  • 8.3. Market Restraints
    • 8.3.1. Restraining Factor Analysis
  • 8.4. Market Opportunities
    • 8.4.1. Market Opportunity Analysis
  • 8.5. Porter’s Five Forces Analysis
  • 8.6. PEST Analysis
  • 8.7. Regulatory Landscape
  • 8.8. Source Landscape
  • 8.9. Regional Market Trends
    • 8.9.1. North America
    • 8.9.2. Europe
    • 8.9.3. Asia Pacific
    • 8.9.4. Latin America
    • 8.9.5. The Middle-East and Africa
  • 8.10. Pricing Analysis
  • 8.11. Value Chain Analysis
  • 8.12. Downstream Buyers
  • 8.13. Distributors/Traders List
• Chapter No. 9 Competitive Landscape
  • 9.1. Company Market Share Analysis – 2019
    • 9.1.1. Global Herbal Supplement Market: Company Market Share, 2019
    • 9.1.2. Global Herbal Supplement Market, Company Market Revenue, 2016 – 2019 (USD Billion)
    • 9.1.3. Global Herbal Supplement Market, Company Y-o-Y Growth, 2017 – 2019 (%)
    • 9.1.4. Global Herbal Supplement Market: Radar Determinant Chart, 2019
  • 9.2. Strategic Developments
    • 9.2.1. Acquisitions & Mergers
    • 9.2.2. New Product Launch
    • 9.2.3. Regional Expansion
  • 9.3. Company Strategic Developments – Heat Map Analysis
• Chapter No. 10 Company Profiles
  • 10.1. Arizona Natural Products
    • 10.1.1. Company Overview
    • 10.1.2. Key Executives
    • 10.1.3. Product Portfulio
    • 10.1.4. Financial Overview
    • 10.1.5. Operating Business Segments
    • 10.1.6. Business Performance
    • 10.1.7. Recent Developments
  • 10.2. Archer Daniels Midland Company
  • 10.3. Blackmores
  • 10.4. Bio-Botanica Inc.
  • 10.5. Herbalife International of America Inc.
  • 10.6. Glanbia PLC
  • 10.7. Nutraceutical International Corporation
  • 10.8. Naturalife Asia Co. Ltd.
  • 10.9. The Nature's Bounty Co.
  • 10.9. Ricula
• Chapter No. 11 Marketing Strategy Analysis
  • 11.1. Marketing Channel
  • 11.2. Direct Marketing
  • 11.3. Indirect Marketing
  • 11.4. Marketing Channel Development Trends
  • 11.5. Economic/Pulitical Application Change
• Chapter No. 12 Research Methodulogy
  • 12.1. Research Methodulogy
  • 12.2. Phase I - Secondary Research
  • 12.3. Phase II - Data Modeling
    • 12.3.1. Company Share Analysis Model
    • 12.3.2. Revenue Based Modeling
  • 12.4. Phase III - Primary Research
  • 12.5. Research Limitations
    • 12.5.1. Assumptions