Rising consumer health concerns, increasing spending on preventive healthcare products, high prevalence of lifestyle diseases such as diabetes and obesity, and increasing global population is expected to drive the demand for herbal food supplements during the forecast period.
According to TechSci Research report, “Herbal Food Supplements Market – Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2017-2027F”
Herbal food supplements are natural products made from plants, and their oils, roots, seeds, berries, or flowers are known as herbal supplements. Around the world, there are millions of different species of herbs. Natural processing methods are used to create herbal supplements instead of synthetic or chemical substances, which is the main factor driving the market for herbal supplements globally.
Depending on the species, herbal supplements have thousands of health advantages. For thousands of years, people have used herbal plants and extracts for medicinal purposes. Owing to the recent consumer preference for natural and organic products, there has been a sharp rise in the demand for herbal ingredients worldwide.
The use of herbal supplements in aromatherapy is widespread because they help to control stress, maintain cholesterol levels, and regulate the nervous system. Moreover, as the popularity of herbal medicines among consumers grows, herbal supplements are becoming more and more popular among pharmaceutical companies.
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The global herbal food supplements market is segmented based on the source, product, formulation, end use, distribution channel, region, and competitive landscape. On the basis of source, the global herbal food supplements market is segmented into fruits & vegetables, leaves, roots and others. Among these, the leaves segment dominated the global herbal food supplements market with the majority market share in 2021. Herbal supplements are made using the medicinal properties extracted from the leaves of herbal plants. Some of the typical leaf extracts utilized in producing these supplements include ginkgo biloba and camellia sinensis (green tea). The leaves market segment has expanded due to the demand for herbal products in cosmetics, food and beverage, and medicine.
On the basis of formulation, the global herbal food supplements market is segmented into capsules, liquids, tablets, powders, and others. Among which, the capsules held the largest market share in the global herbal food supplements market in 2021 owing to the availability of numerous herbal supplements in various sizes based on dosage in this form. The capsule formulation segment led the herbal food supplements market in terms of the global share. As they are easier to swallow and cause less Gastrointestinal (GI) upset, most consumers of herbal supplements prefer capsules over tablets, according to Informa. Furthermore, herbal supplements may include actual leaves, powdered roots, or extracts that are easily put into capsules.
On the basis of end-use, the global herbal food supplements market is segmented into pregnant females, adult, pediatric, geriatric, and others. Among which, the adult segment held the largest share in the global herbal food supplements market. A few of the elements that contributed to this highest revenue share were consumers’ propensity for natural supplements, their high purchasing power, and their expenditure on health and wellness products.
On the basis of distribution channels, the global herbal food supplements market is segmented into supermarkets/hypermarkets, departmental stores/grocery stores, convenience stores, online and others. Among which, the online segment held the largest share in the global herbal food supplements market. In order to attract customers, a number of online retailers offer a wide range of herbal food supplement options at prices that are lower than those found in traditional retail locations. Owing to their affordability and ease of accessibility, online services have grown in both developed and developing nations.
In terms of region, the global herbal food supplements market is segmented into North America, Europe, Asia Pacific, MEA, and South America. Among which, Europe held the largest share in the global herbal food supplements market. Owing to a number of factors, including increasing the acceptance of natural products in nations such as Germany and France, the European market is predicted to expand. The expansion of the industry is also being aided by the region’s expanding consumer health market.
Key Market Players in the Herbal Food Supplements Market include:
- Jarrow Formulas, Inc.
- Solgar, Inc.
- Nature’s Bounty, (NY) Inc.
- Ancient Greenfields Pvt., Ltd.
- Gaia Herbs, Inc.
- J.R. Simplot Company
- General Mills, Inc.
- Bio-Botanica, Inc.
- Herb Pharm, LLC
- NOW Health Group, Inc.
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“As more people turn to organic foods for their diets and general well-being and as the demand for essential herbal supplements fills the cosmetics and personal care market, market participants can anticipate lucrative opportunities. Participants in the market have been inspired to experiment with formulations and develop skincare and hair care products. Vital herbal supplements are now frequently used in creating cosmetic goods that enhance hair and skin quality. Market participants can collaborate with end users to guarantee a steady supply of essential herbal food supplements, given the rapid replacement of ingredients in the fiercely competitive cosmetic industry.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Herbal Food Supplements Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Source (Fruits & Vegetables, Leaves, Roots, and Others, By Formulation (Capsules, Liquid, Tablets, Powder, and Others (Soft Gels, Granules, etc.), By End Use (Pregnant Females, Adult, Pediatric, Geriatric, and Others), By Distribution Channel (Pharmacies and Drug Stores, Supermarkets and Hypermarkets, Online and Others), By Region”, has evaluated the future growth potential of herbal food supplements globally and provides statistics and information on market structure, size, share, and future growth. The report provides cutting-edge market intelligence and helps decision-makers to make sound investment decisions. Besides, the report also identifies the emerging trends along with essential drivers, challenges, and opportunities present in the global herbal food supplements market.
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