Herbal Supplements Market: Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029

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Herbal Supplements Market: Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029

Status : August, 2020 | Pharmaceutical | PPT format

Report Digest


Global Herbal Supplements Market: Overview

Awareness regarding the many benefits of a number of herbs is catching up on with people across the world. This is leading even major players in the market to step-up production and pay special focus to product development and improvement. This is leading the global herbal supplements market on a notable growth curve over the period – 2018 to 2028. This would not only lead to new avenues of growth but also to a decent increase in market worth over the stated period, notes Transparency Market Research.

Global Herbal Supplements Market: Competitive Landscape.

Transparency Market Research notes that the vendor landscape of global herbal supplements market is fragmented due to presence of a large number of players – big and small. This is also the reason that the market witnesses a decent level of competition.

Prominent companies that work in the global herbal supplements market are Archer Daniels Midland Company (U.S.), Glanbia plc (Ireland), Herbalife International of America, Inc. (U.S.), Blackmores (Australia), and Nutraceutical International Corporation (U.S.). Other major players in the market are NBTY, Inc.(U.S.), Arizona Natural Products (U.S.), Ricola (Switzerland), NaturaLife Asia Co., Ltd. (Korea), and Bio-Botanica Inc. (U.S.), among others.

Some of the most commonly used strategies in the market are entering into alliances, coming up with new and more efficient products, bringing innovation to fore, and so on. Technology and marketing strategies are also important determinants of growth.

Global Herbal Supplements Market:  Key trends and driver

Growth in the market for herbal supplements is set to be an outcome of various factors – trends and drivers – such as increase in number of vegans, growing awareness regarding use of certain herbs, technological advancement and so on. A synopsis of the same is provided below:

  • Veganism is a massive trend, gaining prominence swiftly. One of the most interesting facts about the raging trend is that it is catching on even in meat eating countries. It is a result of awareness regarding cruelty to animals, moral ethics, and of the price the environment bears of keeping animals for the meat and dairy industry. This is set to drive the market forward.
  • Benefits of plants and herbs are being realized by people across the world and they are thus opting for such products in a big way. Besides, improvement in technology is leading to easier extraction and creation of better forms of such supplements.

Global Herbal Supplements Market:  Regional Analysis

Asia Pacific (APAC) is set to dominate the market over the forecast period. One of the most notable factors leading to growth in the region is use of traditional medicine in the region and extensive use of herbal ingredients for the same. China and India are two countries that make use of traditional herbs for treatments and availing benefits that accrue from use of such herbs in a big way. Presence of a large number of old people in the region is also contributing positively to growth in the region over the forecast period. It is significant to note here that Europe will also witness study growth rate over the stated period owing to rapid adoption of natural products, particularly plant-based, owing to increase in number of vegans. Besides, people in the region have a high disposable income and this makes them ready to pay extra for premium products.

Segmentation:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)
    • Moringa
    • Echinacea
    • Flaxseeds
    • Turmeric
    • Ginger
    • Ginseng
  • Formulation Outlook (Revenue, USD Million, 2014 - 2025)
    • Tablets
    • Capsules
    • Liquid
    • Powder and granules
    • Soft gels
    • Others
  • Consumer Outlook (Revenue, USD Million, 2014 - 2025)
    • Pregnant women
    • Adult
    • Pediatric
    • Geriatric

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.