Herbal nutraceuticals Market

The global herbal nutraceuticals market was valued at $28,329.7 million in 2019, and is projected to reach $48,446.5 million by 2027, registering a CAGR of 7.55% from 2021 to 2027.

Herbal nutraceuticals are obtained from natural sources with no added chemicals or toxins. These products are highly effective and safer and more tolerable than conventional products available in the market. It helps in maintaining health and acts against nutritionally induced acute and chronic diseases, which promotes optimal health, longevity, and quality of life.    The herbal nutraceuticals market analysis is done on the basis of regions, key players  and segments.

The COVID-19 pandemic has shown a positive impact on this market. This is attributable to the fact that consumers across the globe are now looking for herbal nutraceuticals with a belief that these herbal nutraceuticals can enhance the immune system as well as fight against the novel coronavirus disease. This, in turn, has increased the global demand for herbal nutraceuticals, which positively impacts the herbal nutraceuticals market growth globally.

The global herbal nutraceuticals market is segmented into product type, nature, form, sales channel, and region. By product type, the market is classified into ginger, garlic, turmeric, aloe vera, green tea, and others. By nature, it is divided into conventional and organic. By form, it is segmented into capsules & tablets, powder, liquid, and others. On the basis of sales channel, it is segregated into pharmacy, online store, supermarket/hypermarket, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, Indonesia and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

On the basis of product type, the others segment accounted for the highest herbal nutraceuticals market share in 2019, with a CAGR of 8.10%. The others segment includes bacopa, milk thistle, oregano, cinnamon, and ashwagandha. Health benefits provided by these herbs along with rise in inclination of consumers toward a healthy lifestyle drives the market growth. For instance, ashwagandha promotes physical and mental health. In addition, it supports moderate occasional stress, enhances memory and cognitive function, and supports thyroid function. Hence, its demand among health-conscious consumers is on the rise. This, in turn, boosts demand for herbal nutraceuticals. However, the green tea segment is expected to witness a significant growth during the herbal nutraceuticals forecast period, owing to the rising number of obesity cases and consumers suffering from cardiovascular diseases is anticipated to boost the demand for green tea nutraceuticals globally. This in turn has driven the overall growth of herbal nutraceuticals market.

By nature, the conventional segment accounted for the highest market share in the global herbal nutraceuticals market in 2019. Conventional herbs contain chemicals, GMOs, and additives. Easy availability of conventional herbal nutraceuticals, coupled with their availability at low price compared to organic herbal nutraceuticals drives their demand in the market, globally. However, the organic segment is expected to witness a significant growth during the forecast period, owing to , the rising consumer awareness regarding the harmful effects of fertilizers, pesticides and chemicals is shifting consumer attention towards organically produced herbal nutraceuticals. This in turn is anticipated to fuel the growth of organic herbal nutraceuticals market in terms of value sales during the forecast period.

By form, in 2019, the capsules & tablets segment accounted for the highest market share in the global herbal nutraceuticals market. This is attributed to convenience related to use of capsules & tablets, as they are easy to consume and do not require any measurements before consumption. This, in turn, boosts their demand and propels the market growth. However, the others segment  is expected to witness a significant growth during the forecast period, owing to the soft gels are ideal for fat-soluble and oil formulations, flexible thus are easier to swallow and also reduces stomach discomfort during disgesting it.Thus, is becoming popular among consumers. This in turn is anticipated to offer an immense opportunity for these formats of herbal nutraceuticals in the market in terms of values sales during the forecast period.

By distribution channel, in 2019, the pharmacy segment accounted for the highest market share in the global herbal nutraceuticals market. Improvement in healthcare infrastructure, ease of availability, and surge in number of consumers visiting pharmacies and drug stores drives adoption of herbal nutraceuticals through this distribution channel. This, in turn, boosts the market growth.

Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for the highest market share in 2019. This is attributed to rise in adoption of healthy lifestyle in the region, which leads to rise in demand for herbal nutraceuticals to enhance immunity as well as to provide their body a proper nutrition. 

The key players operating in the global herbal nutraceuticals market focus on prominent strategies to overcome competition and maintain as well as improve their share worldwide. Some of the major players in the global herbal nutraceuticals industry analyzed in this report include Now foods, Herbochem, OREGON'S WILD HARVEST, Gaia Herbs Farm, Nature’s Bounty. Bio Botanica INC. Herb Pharma (Pharmaca), Solaray, Pure Encapsulations, LLC and  Solagar.

Key Benefits For Stakeholders

• The report provides a quantitative analysis of the current herbal nutraceuticals market trends, estimations, and dynamics of the market size from 2021 to 2027 to identify the prevailing opportunities.
• The key countries in four major regions have been mapped based on their market share.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
• In-depth analysis and the herbal nutraceuticals market size and segmentation assists in determining the prevailing herbal nutraceuticals market opportunity
• Major countries in each region have been mapped according to their revenue contribution to the global industry. 
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
• The report includes the analysis of the regional as well as global market, key players, market segments, application areas, and growth strategies.

 Herbal nutraceuticals Market Report Highlights