Increasing adoption of herbal products by aging population and increasing incidence of lifestyle related diseases have contributed positively towards the growth of herbal supplements. In addition, changing lifestyle and standards of living, and unhealthy eating habits such as fast food and meals-on-the-go are some other factors driving growth of the global herbal supplements market. Increasing demand for dietary herbal supplements among working and pregnant women is another factor expected to drive growth of the global herbal supplements market. Growing popularity of multi-herbs and concerns relating to side-effects of allopathic drugs is further fueling growth of the global herbal supplements market. Furthermore, American ginseng may be taken to reduce stress, boost the immune system, improve digestion, and more. German chamomile may be taken to improve sleep quality, reduce anxiety, and help gastrointestinal conditions. Cinnamon may be used to treat gastrointestinal problems, loss of appetite, and diabetes.
Based on source, the herbal supplements market is classified into leaves, roots, bark and seeds. It has been observed that herbal supplements were maximum derived from roots in 2019. Based on application, the market is classified into food& beverages, pharmaceuticals and personal care. It has been observed that pharmaceuticals have significantly gained prominence due to herbs and supplements being used for thousands of years to treat both acute and chronic illnesses and other conditions thereby giving rise to concept of natural medicine. Based on end use, the market is segmented into adult women, adult men, pediatric and baby boomers. Adult women accounted for the highest revenue share during the period. Based on formulations, the market is categorized into tablets, capsules, liquid, powder and granules. Based on distribution channel, market is categorized into herbal stores, drug stores, hypermarkets/supermarkets and online channels.
For better understanding of the market penetration of 3D Camera technology, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Mexico and the Rest of North America), Europe (Germany, France, U.K., Russia, Italy, Spain and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Australia and the Rest of Asia-Pacific) and Rest of the World. Asia Pacific constitutes a major consumer market for herbal supplements. Increasing health awareness in respect to diet, growing mental disorders, and surging sedentary lifestyles has tremendously bolstered the Asia Pacific herbal supplements market.
Some of the major players operating in the market include Jarrow Formulas, Inc., Solgar Inc., Herbalife International of America, Inc., Ricola AG, Bio-Botanica Inc., Blackmores Ltd, Himalaya Drug Company, Rainbow Light Nutritional Systems, Arizona Natural Products, Willmar Schwabe GmbH & Co. KG
Global herbal supplements market was valued at US$ 70.42 billion in 2019 and is anticipated to reach US$ 110.26 billion by 2026 displaying elevated CAGR of 6.7% over the forecast period (2020-2026). Herbal supplements are the dietary supplements that are extracted from plants or parts of plants for medicinal and therapeutic purposes. Herbal Supplements are used for the prevention and management of various diseases and ailments and are called photomedicine. These supplements work as natural alternatives for hormone replacement therapy, as plants have been used in medicinal purposes for thousands of years. They offer natural ways to improve prostate health, cognitive function and brain health, and connective and joint tissue health. These can be liquids or solids in the form of tablets, capsules, soft gels, gelcaps, or powders. Rising concerns regarding the adverse effects of synthetically derived nutraceuticals are projected to augment the demand for herbal supplements. Increasing spending on health and wellness and rising disposable income levels, especially in the emerging nations, are expected to augment the demand for herbal supplements globally. The preference for buying such herbal products as compared to luxury goods among the consumers is also portraying a dramatic surge. Herbal supplements help maintain cholesterol levels, regulate the digestive system, and reduce stress. Thus, increasing awareness about the health benefits offered by these products is expected to fuel market development.
List of common herbal supplements and their uses
- Aloe Vera: used topically for burns, psoriasis and osteoarthritis. Used in the oral form for digestive issues such as gastritis or constipation.
- Black cohosh: used to treat hot flashes, night sweats, vaginal dryness and menopausal symptoms.
- Chamomile: used to treat sleeplessness, anxiety, upset stomach, gas and diarrhea. It is also used topically for skin conditions. Caution in people with ragweed allergy.
- Echinacea: used to fight cold and flu symptoms.
- Flaxseed: used to lower cholesterol. Good source of fiber and omega-3 fatty acids.
- Ginko: used to treat memory problems and tinnitus (ringing in the ears). It can be used along with the antidepressant selective serotonin reuptake inhibitors (SSRIs) to enhance sex drive and sexual performance in people who have side effects with antidepressant medications. Caution in people taking blood thinners.
- Peppermint oil: used to treat digestion problems such as nausea, indigestion, stomach problems and bowel conditions.
- Soy: used to treat menopausal symptoms, memory problems and high cholesterol levels. Organic, whole soy food is preferable to soy supplements and processed soy foods like soy hot dogs.
- St. John's Wort: used to treat depression, anxiety and sleep disorders. NOTE: This herb has many other drug and herb interactions. Consult your healthcare provider before starting this supplement
- Tea tree oil: used topically to treat several conditions including, acne, athlete's foot, nail fungus, wounds, infections, lice, oral yeast infection (thrush), cold sores and dandruff.
"Amongst Source, herbal supplements extracted from Roots dominated the market in 2019, with 42.1% share"
Based on the source, the global herbal supplement market is segmented into leaves, roots, bark and seeds. The popularity of herbal supplements has witnessed a rapid rise accredited to immense health benefits present in natural products. Consumption of these herbal supplements ensures nutritional enrichment in individuals. Herbal supplements extracted from Roots dominated the market in 2019. However, herbal supplements extracted from Leaves are expected to witness the highest CAGR growth of 7.4% during the forecast period 2020-2026.
"Herbal supplements are majorly consumed in the form of Capsules"
Based on formulations, the global herbal supplement market is bifurcated into tablets, capsules, liquid and powder & granules. Herbal supplements help maintain cholesterol levels, regulate the digestive system, and reduce stress. Thus, increasing awareness about the health benefits offered by these products is expected to fuel market development. Herbal supplements are majorly consumed in the form of Capsules. The segment is expected to generate revenue of US$ 35.71 billion by 2026.
"Pharmaceuticals sector is the largest industrial user of herbal supplements product, followed by F&B and personal care segment"
Based on application, the global herbal supplement market is bifurcated into food & beverages, pharmaceuticals and personal care. Growing inclination towards natural products, increasing health awareness and surging spend on health and wellbeing has catalyzed the growth of the pharmaceutical's herbal supplement market. The segment generated revenue of US$ 33.74 billion in 2019. In addition, the Personal Care segment is expected to witness the highest CAGR growth of 7.2% during the analyzed period.
"Amongst end-users, Adult women dominated the consumption of herbal supplement"
Based on end-user, the global herbal supplement market is classified into adult women, adult men, pediatric and baby boomers. Growing preference for natural products during pregnancy owing to a surge in awareness regarding the therapeutic properties of herbal supplements is one of the key factors that would boost the demand for herbal supplements among adult women. However, a growing elderly population would help the Baby Boomers end-user segment to witness the highest CAGR growth of 7.4% during the analyzed period.
"In 2019, herbal supplements were majorly sold through Drug Stores, followed by online channel"
Based on the distribution channel, the global herbal supplement market is bifurcated into herbal stores, drug stores, supermarket/hypermarket and online channels. Preference for e-commerce platforms with respect to ease of availability over conventional distribution channels for buying herbal supplements has risen tremendously due to cost-effectiveness and better convenience leading to the fastest growth over the analyzed period.
"Asia-Pacific dominated the global herbal supplements market in 2019, with 38.9% share"
For a deep-dive analysis of the industry, detailed country-level analysis was conducted for major regions/countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific) and Rest of World (Brazil, South Africa, Others). It has been estimated by WHO that 80% of the population of some Asian countries use herbal medicine for some health purposes. Increasing health awareness with respect to diet, growing mental disorders, and surging sedentary lifestyles has tremendously bolstered the Asia Pacific herbal supplements market.
Competitive Landscape-Top 10 Market Players
Jarrow Formulas, Inc., Solgar Inc., Herbalife International of America, Inc., Ricola AG, Bio-Botanica Inc., Blackmores Ltd, Himalaya Drug Company, Rainbow Light Nutritional Systems, Arizona Natural Products, Willmar Schwabe GmbH & Co. KG are some of the prominent players operating in the global herbal supplement industry. Several M&A's along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
Reasons to buy:
- Current and future market size from 2020 to 2025 in terms of value (US$)
- Combined analysis of deep-dive secondary research and input from primary research through Key Opinion Leaders of the industry
- Country-level details of the overall consumption of herbal supplements
- A quick review of overall industry performance at a glance
- In-depth analysis of key industry players
- A detailed analysis of regulatory framework, drivers, restraints, key trends and opportunities prevailing in the industry
- Examination of industry attractiveness with the help of Porter's Five Forces analysis and start-ups
- The study comprehensively covers the market across different segments and sub-segments of the market
- Region Covered: North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific) and Rest of World (Brazil, South Africa, Others)
Customization Options:
UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global Herbal Supplement market can be customized to the country level or any other market segment.
Table of Contents
1. MARKET INTRODUCTION
1.1 Market Definition 19
1.2 Objective of the Study 19
1.3 Limitation 19
1.4 Stakeholders 20
1.5 Currency used in the Report 20
1.6 Scope of the Global Herbal Supplements Market Study 20
2. RESEARCH METHODOLOGY OR ASSUMPTION 21
2.1 Research Methodology for the Herbal Supplements Market Study 21
2.1.1 Main objective of the Herbal Supplement Market Study 22
3. INDUSTRY PERFORMANCE 23
4. EXECUTIVE SUMMARY 25
5. MARKET OVERVIEW 27
5.1 Introduction 27
5.1.1 List of common herbal supplements and their uses 27
5.2 Market Dynamics 28
5.2.1 Market Trend & Drivers 28
5.2.1.1 Growing Prevalence of Health Disorders 28
5.2.1.2 Continuous Research and Development 29
5.2.1.3 Changing Lifestyles & Increasing Health Awareness 29
5.2.2 Market Challenges 30
5.2.2.1 Adverse Effects on Human Body 30
5.2.3 Market Opportunities 30
5.2.3.1 Growing Scope in Adopting Food Technology 30
6. LEGAL & REGULATORY FRAMEWORK 31
6.1 General Overview 31
6.1.1 India 31
6.1.2 Malaysia 31
6.1.3 Philippines 31
6.1.4 Nigeria 32
6.1.5 Saudi Arabia 32
6.1.6 Australia 32
6.1.7 United States 32
6.1.8 Canada 33
6.1.9 European Union 33
7. DEMAND AND SUPPLY SIDE ANALYSIS 34
7.1 Demand Side Analysis 34
7.2 Supply Side Analysis 35
7.2.1 Top Partnerships 36
7.2.2 Top Mergers & Acquisitions 36
7.2.3 Top Funding 36
7.2.4 Top Business Expansion 36
7.2.5 Top Product Launches 36
7.2.6 Top Start-ups under Herbal Supplement Industry 37
8. VALUE CHAIN ANALYSIS 38
8.1 Value Chain Analysis 38
9. EXPORT IMPORT SCENARIO OF HERBAL SUPPLEMENT 39
9.1 General Overview 39
10. MARKET INSIGHTS BY PRODUCT TYPE 40
10.1 General Overview 40
10.1.1 Leaves 41
10.1.2 Roots 42
10.1.3 Barks 43
10.1.4 Seeds 44
10.1.5 Other Source 45
11. MARKET INSIGHTS BY FORMULATIONS 46
11.1 General Overview 46
11.1.1 Tablets 47
11.1.2 Capsules 48
11.1.3 Liquid 49
11.1.4 Powder& Granules 50
11.1.5 Others Form 51
12. MARKET INSIGHTS BY APPLICATION 52
12.1 General Overview 52
12.1.1 Food & Beverages 53
12.1.2 Pharmaceuticals 54
12.1.3 Personal Care 55
13. MARKET INSIGHTS BY END-USER 56
13.1 General Overview 56
13.1.1 Adult Women 57
13.1.2 Adult Men 58
13.1.3 Baby Boomers 59
13.1.4 Pediatric 60
14. MARKET INSIGHTS BY DISTRIBUTION CHANNELS 61
14.1 General Overview 61
14.1.1 Herbal Stores 62
14.1.2 Drug Stores 63
14.1.3 Supermarkets/Hypermarkets 64
14.1.4 Online Channels 65
15. MARKET INSIGHTS BY REGION 66
15.1 General Overview 66
15.2 North America Herbal Supplements Market 67
15.2.1 North America Herbal Supplements, by Source 67
15.2.2 North America Herbal Supplements Market, by Applications 68
15.2.3 North America Herbal Supplements Market, by End Use 68
15.2.4 North America Herbal Supplements Market, by Formulations 69
15.2.5 North America Herbal Supplements Market, by Distribution Channels 69
15.2.6 North America Herbal Supplements Market, by Country 70
15.2.6.1 US Herbal Supplements Market 70
15.2.6.1.1 US Herbal Supplements Market, by Source 71
15.2.6.1.2 US Herbal Supplements Market, by Applications 71
15.2.6.1.3 US Herbal Supplements Market, by End Use 72
15.2.6.1.4 US Herbal Supplements Market, by Formulations 72
15.2.6.1.5 US Herbal Supplements Market, by Distribution Channels 73
15.2.6.2 Canada Herbal Supplements Market 73
15.2.6.2.1 Canada Herbal Supplements Market, by Source 74
15.2.6.2.2 Canada Herbal Supplements Market, by Application 74
15.2.6.2.3 Canada Herbal Supplements Market, by End Use 75
15.2.6.2.4 Canada Herbal Supplements Market, by Formulations 75
15.2.6.2.5 Canada Herbal Supplements Market, by Distribution Channel 76
15.2.6.3 Rest of North America Herbal Supplements Market 76
15.2.6.3.1 Rest of North America Herbal Supplements Market, by Source 77
15.2.6.3.2 Rest of North America Herbal Supplement Market, by Application 77
15.2.6.3.3 Rest of North America Herbal Supplements Market, by End Use 78
15.2.6.3.4 Rest of North America Herbal Supplements Market, by Formulations 78
15.2.6.3.5 Rest of NA Herbal Supplements Market, by Distribution Channel 79
15.3 Europe Herbal Supplement Market 79
15.3.1 Europe Herbal Supplement Market, by Source 80
15.3.2 Europe Herbal Supplement Market, by Application 80
15.3.3 Europe Herbal Supplement Market, by End Use 81
15.3.4 Europe Herbal Supplement Market, by Formulation 81
15.3.5 Europe Herbal Supplement Market, by Distribution Channel 82
15.3.6 Europe Herbal Supplement Market, by Country 82
15.3.6.1 Germany Herbal Supplement Market 83
15.3.6.1.1 Germany Herbal Supplement Market, by Source 83
15.3.6.1.2 Germany Herbal Supplements Market, by Application 84
15.3.6.1.3 Germany Herbal Supplement Market, by End Use 84
15.3.6.1.4 Germany Herbal Supplement Market, by Formulation 85
15.3.6.1.5 Germany Herbal Supplement Market, by Distribution Channel 85
15.3.6.2 UK Herbal Supplement Market 86
15.3.6.2.1 UK Herbal Supplement Market, by Source 86
15.3.6.2.2 UK Herbal Supplement Market, by Application 87
15.3.6.2.3 UK Herbal Supplement Market, by End Use 87
15.3.6.2.4 UK Herbal Supplement Market, by Formulation 88
15.3.6.2.5 UK Herbal Supplement Market, by Distribution Channel 88
15.3.6.3 France Herbal Supplement Market 89
15.3.6.3.1 France Herbal Supplement Market, by Source 89
15.3.6.3.2 France Herbal Supplement Market, by Application 90
15.3.6.3.3 France Herbal Supplement Market, by End Use 90
15.3.6.3.4 France Herbal Supplement Market, by Formulation 91
15.3.6.3.5 France Herbal Supplement Market, by Distribution Channel 91
15.3.6.4 Italy Herbal Supplement Market 92
15.3.6.4.1 Italy Herbal Supplement Market, by Source 92
15.3.6.4.2 Italy Herbal Supplement Market, by Application 93
15.3.6.4.3 Italy Herbal Supplement Market, by End Use 93
15.3.6.4.4 Italy Herbal Supplement Market, by Formulation 94
15.3.6.4.5 Italy Herbal Supplement Market, by Distribution Channel 94
15.3.6.5 Spain Herbal Supplement Market 95
15.3.6.5.1 Spain Herbal Supplement Market, by Source 95
15.3.6.5.2 Spain Herbal Supplement Market, by Application 96
15.3.6.5.3 Spain Herbal Supplement Market, by End Use 96
15.3.6.5.4 Spain Herbal Supplement Market, by Formulation 97
15.3.6.5.5 Spain Herbal Supplement Market, by Distribution Channel 97
15.3.6.6 Rest of Europe Herbal Supplement Market 98
15.3.6.6.1 Rest of Europe Herbal Supplement Market, by Source 98
15.3.6.6.2 Rest of Europe Herbal Supplement Market, by Application 99
15.3.6.6.3 Rest of Europe Herbal Supplement Market, by End Use 99
15.3.6.6.4 Rest of Europe Herbal Supplement Market, by Formulation 100
15.3.6.6.5 Rest of Europe Herbal Supplement Market, by Distribution Channel 100
15.4 Asia-Pacific Herbal Supplement Market 101
15.4.1 Asia-Pacific Herbal Supplement Market, by Source 101
15.4.2 Asia-Pacific Herbal Supplement Market, by Application 102
15.4.3 Asia-Pacific Herbal Supplement Market, by End Use 102
15.4.4 Asia-Pacific Herbal Supplement Market, by Formulation 103
15.4.5 Asia-Pacific Herbal Supplement Market, by Distribution Channel 103
15.4.6 Asia-Pacific Herbal Supplement Market, by Country 104
15.4.6.1 China Herbal Supplement Market 104
15.4.6.1.1 China Herbal Supplement Market, by Source 105
15.4.6.1.2 China Herbal Supplement Market, by Application 105
15.4.6.1.3 China Herbal Supplement Market, by End Use 106
15.4.6.1.4 China Herbal Supplement Market, by Formulation 106
15.4.6.1.5 China Herbal Supplement Market, by Distribution Channel 107
15.4.6.2 Japan Herbal Supplement Market 107
15.4.6.2.1 Japan Herbal Supplement Market, by Source 108
15.4.6.2.2 Japan Herbal Supplement Market, by Application 108
15.4.6.2.3 Japan Herbal Supplement Market, by End Use 109
15.4.6.2.4 Japan Herbal Supplement Market, by Formulation 109
15.4.6.2.5 Japan Herbal Supplement Market, by Distribution Channel 110
15.4.6.3 India Herbal Supplement Market 110
15.4.6.3.1 India Herbal Supplement Market, by Source 111
15.4.6.3.2 India Herbal Supplement Market, by Application 111
15.4.6.3.3 India Herbal Supplement Market, by End Use 112
15.4.6.3.4 India Herbal Supplement Market, by Formulation 112
15.4.6.3.5 India Herbal Supplement Market, by Distribution Channel 113
15.4.6.4 Australia Herbal Supplement Market 113
15.4.6.4.1 Australia Herbal Supplement Market, by Source 114
15.4.6.4.2 Australia Herbal Supplement Market, by Application 114
15.4.6.4.3 Australia Herbal Supplement Market, by End Use 115
15.4.6.4.4 Australia Herbal Supplement Market, by Formulation 115
15.4.6.4.5 Australia Herbal Supplement Market, by Distribution Channel 116
15.4.6.5 South Korea Herbal Supplement Market 116
15.4.6.5.1 South Korea Herbal Supplement Market, by Source 117
15.4.6.5.2 South Korea Herbal Supplement Market, by Application 117
15.4.6.5.3 South Korea Herbal Supplement Market, by End Use 118
15.4.6.5.4 South Korea Herbal Supplement Market, by Formulation 118
15.4.6.5.5 South Korea Herbal Supplement Market, by Distribution Channel 119
15.4.6.6 Rest of APAC Herbal Supplement Market 119
15.4.6.6.1 Rest of APAC Herbal Supplement Market, by Source 120
15.4.6.6.2 Rest of APAC Herbal Supplement Market, by Application 120
15.4.6.6.3 Rest of APAC Herbal Supplement Market, by End Use 121
15.4.6.6.4 Rest of APAC Herbal Supplement Market, by Formulation 121
15.4.6.6.5 Rest of APAC Herbal Supplement Market, by Distribution Channel 122
15.5 Rest of World Herbal Supplement Market 122
15.5.1 Rest of World Herbal Supplement Market, by Source 123
15.5.2 Rest of World Herbal Supplement Market, by Application 123
15.5.3 Rest of World Herbal Supplement Market, by End Use 124
15.5.4 Rest of World Herbal Supplement Market, by Formulation 124
15.5.5 Rest of World Herbal Supplement Market, by Distribution Channel 125
15.5.5.1 Brazil Herbal Supplement Market 125
15.5.5.1.1 Brazil Herbal Supplement Market, by Source 126
15.5.5.1.2 Brazil Herbal Supplement Market, by Application 126
15.5.5.1.3 Brazil Herbal Supplement Market, by End Use 127
15.5.5.1.4 Brazil Herbal Supplement Market, by Formulation 127
15.5.5.1.5 Brazil Herbal Supplement Market, by Distribution Channel 128
15.5.5.2 South Africa Herbal Supplement Market 128
15.5.5.2.1 South Africa Herbal Supplement Market, by Source 129
15.5.5.2.2 South Africa Herbal Supplement Market, by Application 129
15.5.5.2.3 South Africa Herbal Supplement Market, by End Use 130
15.5.5.2.4 South Africa Herbal Supplement Market, by Formulation 130
15.5.5.2.5 South Africa Herbal Supplement Market, by Distribution Channel 131
15.5.5.3 Other Countries Herbal Supplement Market 131
15.5.5.3.1 Other Countries Herbal Supplement Market, by Source 131
15.5.5.3.2 Other Countries Herbal Supplement Market, by Application 132
15.5.5.3.3 Other Countries Herbal Supplement Market, by End Use 132
15.5.5.3.4 Other Countries Herbal Supplement Market, by Formulation 133
15.5.5.3.5 Other Countries Herbal Supplement Market, by Distribution Channel 133
16. COMPETITIVE SCENARIO 134
16.1 Porter
Jarrow Formulas
Inc.
Solgar Inc
Herbalife International of America
Inc.
Ricola AG
Bio-Botanica Inc.
Blackmores Ltd
Himalaya Drug Company
Rainbow Light Nutritional Systems
Arizona Natural Products
Willmar Schwabe GmbH & Co. KG