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, 2021 | Pharmaceutical

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 – 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:

  • 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

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5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?