Herbal Supplements Market: Global Industry Analysis, Size, Trends, Growth, Trends, and Forecast 2019 - 2029
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 – 2019 to 2029. This would not only lead to new avenues of growth but also to a decent increase in market worth over the stated period, notes TMR Research.
Global Herbal Supplements Market: Competitive Landscape.
TMR 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:
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.
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5-Point Growth Formula
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The 5-point growth formula includes the following points:
Current and Future Threats
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Accurate Trend Analysis
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