The ‘Global Herbal Food Supplements Market Growth, Share, Size, Trend, Demand, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global herbal food supplements market, assessing the market based on its segments like product, distribution channel, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyzes the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
Herbal Food Supplements Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2021): USD 6.4 Billion
• Forecast CAGR (2022-2027): 6.5%
• Forecast Market Size (2027): USD 9.3 Billion
The growing preference of consumers toward natural products is fueling the demand for herbal food supplements. Market players like Himalaya Wellness are offering a variety of herbal food supplements to cater to the different needs of the customers. Furthermore, the growing penetration of online sales channels for the purchase of herbal food supplements is supporting the market growth of herbal food supplements.
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The rising disposable income of the people and the increasing standard of living are further escalating the demand for herbal food supplements in the global marketplace. People are increasingly becoming aware of herbs and their benefits on one’s health, thus propelling them to purchase herbal food products. The availability of such products in supermarkets and hypermarkets is also strengthening the market growth.
The COVID-19 pandemic has further fueled the demand for herbal food supplements, and this a gave boost to the historical market growth. The changing lifestyle of the people is also compelling them to shift towards natural products to enhance their health and wellness. Many people consume aloe vera to get rid of digestive issues like gastritis and constipation. Further, flaxseed helps in lowering cholesterol. Considering all the aforementioned factors, the outlook for herbal food supplements seems to be positive.
Herbal Food Supplements Industry Definition and Major Segments
Herbal food supplements are derived from plants and/or from their seeds, oils, roots or flowers. These supplements are being consumed for years and have healing properties and help in the treatment of diseases and health problems. They are available in several forms like liquid extracts, tablets, capsules, and oil, among others.
Based on the product type, the market has been segmented as:
• Wheat/Barley Grass
• Flax Seed/Oil
By distribution channel, the market has been segregated as:
• Convenience Stores
• Speciality Stores
For an in-depth analysis of the market, the report also provides a regional analysis for North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Herbal Food Supplements Market Trends
The global herbal food supplement market is witnessing a rigorous effort on the part of market players to research, develop and launch new and innovative products. In 2021, Prorganiq launched a new range of herbal supplements to build a better body through natural products. Consumers are increasingly getting inclined toward herbal food supplements to prevent themselves from the harmful impact of artificial supplements. The abundance of raw materials for herbal food supplement manufacturing and the growing trend of the consumption of such products is also driving the entry of new market players.
The demand for turmeric herbal food supplements is gaining traction, driven by the increasing awareness regarding its role in the treatment of several health issues like allergies, liver disease, depression, arthritis, digestive disorders, and respiratory infections. This is leading to increased promotion of turmeric as a herbal food supplement.
While developing a herbal food supplement, the convenience of its intake should also be taken into care. For instance, in India, a large section of the population would choose capsules as they can be easily swallowed and would be taken in an appropriate dosage. However, the market players should involve themselves in promoting their products to reach a wide number of customers. Nowadays, the promotion of such products through digital platforms like social media is gaining traction.
Key Market Players
The major players in the herbal food supplements market report include:
- Ricola AG
- The Himalaya Drug Company
- Gaia Herbs
- Twinlab Corporation
- DSM Nutritional Products AG
- Willmar Schwabe GmbH and Co. KG
- Bio-Botanica Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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