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Herbal Supplement Market - Global Industry Analysis

Herbal Supplement Market by Source (Leaves, Barks, Fruits & vegetables, and Roots), Application (Pharmaceuticals, Food & beverages, and Personal care), By Function (Medicinal and Aroma): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 27-Jul-2021 Category: Consumer Goods Report Format : PDF Pages: 140 Report Code: ZMR-2216 Status : Published

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.

Description

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:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

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

Table Of Content

  • 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

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Herbal Supplement market. Zion Research has collected and analyzed key data belong to the global Herbal Supplement market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Herbal Supplement across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the Herbal Supplement industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Herbal Supplement market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Herbal supplements are non-food substances marketed to improve health. Herbal medicine is used to solve health related issues. It includes herbal supplements, herbs, herbal preparations, and finished herbal products. The herbal supplement is one of the types of dietary supplements that are made from natural plants. The herbal supplement is not considered as drugs and therefore they are not regulated as a drug by any drug regulations. It is also a popular traditional medical treatment. They are available in the form of powders, capsules, and liquids. Demand for herbal supplements is increasing due to their natural label. A Large section of the global population is switching to herbal supplements due to their added health benefits.

The herbal supplement market is anticipated to be driven by increasing modern lifestyle which leads consumers to live healthy life. Herbal supplement market will gain a prominence growth due to increasing awareness among consumers. However higher health care costs, tighter government budgets, and increasing prices of medicinal and dietary products has driven consumers to have more economical options. Herbal remedies are the safest alternative, to get relief from physical and mental disorders.

Global-Herbal-Supplement-Market

Herbal supplement market is categorized on the basis of source into leaves, barks, fruits & vegetables and roots. Leaves segment accounted for the largest share of the herbal supplements market in 2016, in terms of revenue. Herbal supplements are largely made up of plant leaves. The use of herbal supplement is higher among women than men. Leaves of herbal plants contain medicinal properties, which are extracted for the production of herbal supplements. The demand for herbal products in barks, fruits & vegetables, roots has led to the growth of the leaves segment in herbal supplements market.

On the basis of application, herbal supplement market is segmented into pharmaceuticals, food & beverages, and personal care. Among all the applications, pharmaceuticals segment accounted largest share of the herbal supplement market in 2016 in terms of revenue. Due to increased efficiency in research & development, pharmaceutical industry offers vast opportunities for the industry participants. Regions like Latin America and Asia Pacific are potential markets for herbal supplements in pharmaceutical industry.

Another segment of herbal supplement is function which is bifurcated into medicinal and aroma. There is huge demand for medicinal products as it offers traditional Chinese and Ayurvedic treatments. The medicinal segment accounted for the largest share in 2016.  The medicinal function of herbal plants has no side effects leading to its increasing demand. Developing regions offers a considerable opportunity for growth in herbal supplements market, due to higher consumer acceptability.  

By geography, herbal supplement market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The herbal supplement market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. Latin America is also a potential market followed by Asia Pacific, for herbal supplement due to increasing efficiency in research & development. North America accounted for the leading share in the global market. Middle East & Africa is also expected to witness significant growth in the near future. This region is expected to experience noticeable growth in terms of function over the forecast period as it is an important market.

The key players operating in the global herbal supplement market are Archer Daniels Midland Company, Arizona Natural Products, Bio-Botanica Inc., Blackmores, Glanbia PLC, Herbalife International of America Inc., Naturalife Asia Co., Ltd., Nutraceutical International Corporation, Ricola, and The Nature's Bounty Co. The herbal supplement market is characterized by moderate competition due to the presence of a number of large- and small-scale firms.


Frequently Asked Questions

The global Herbal Supplement market was valued at USD 71.2 Billion in 2020.

The global Herbal Supplement market is expected to reach USD 125.7 Billion by 2028, growing at a CAGR of 6.9% between 2021 to 2028.

Some of the key factors driving the global Herbal Supplement market growth are increasing requirement for the herbal supplements and a worldwide rise in the healthcare expenditures.

Asia-Pacific is anticipated to remain the leading region over the forecast period. 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.

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.

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