Herbal Supplements Market Size Worth USD 204.14 Billion By 2032 | CAGR: 9.2%

The global Herbal Supplements market size is expected to reach USD 204.14 Billion by 2032, according to a new study by Polaris Market Research. The report “Herbal Supplements Market Share, Size, Trends, & Industry Analysis Report By Source (Leaves, Roots, Bark, Fruits & Vegetables, and Others); By Functionality; By Application; By Distribution Channel; By Region, Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Herbal supplements, which are also known as botanical products, are dietary supplements that contain one or more herbs. These herbs are parts of plants that are commonly used to treat various health conditions and illnesses. Herbal supplements are available in different forms, such as tea bags, capsules, tablets, liquids, and powders, and they are intended to supplement our diet with dietary ingredients like vitamins, minerals, amino acids, and other botanicals.

Companies operating in this sector have numerous growth opportunities due to the increasing demand from developing nations. The growth of e-commerce, along with the shift of retailers to online platforms, is another significant factor driving the market's growth. The rise in health disorders, coupled with the increasing demand for dietary supplements from female and young consumers, is also pushing the market's expansion. The growth in the obese population and the sedentary lifestyles of consumers leading to lifestyle diseases are also driving the market for herbal supplements. Several factors are driving the growth of this market, including the increasing use of functional foods and rising disposable income. The growing need for consumers to stay healthy is also a significant factor in the market's overall growth. The aging population and growing consumer awareness of preventive healthcare are also contributing to the expansion of this market.

Despite overall growth, the herbal supplements market faces certain hindering factors that impact its market expansion. One significant challenge is the lack of stringent regulations and quality standards governing herbal supplements.

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International businesses are entering emerging markets in an effort to grow their clientele, market share, and overall visibility. Prominent companies are allocating resources towards research and development in order to launch novel herbal supplements that address particular health requirements. Businesses are making significant investments in stringent quality control procedures, following Good Manufacturing Practices (GMP), and acquiring third-party certifications in order to establish consumer confidence and set themselves apart from competitors with respect to safety and effectiveness.

For instance, in 2019, Nuvothera Inc. launched a supplement product that involved micronized Turmeric. As a result, beverages containing curcumin have become more popular. The product aimed to provide certain health benefits and reduce the reliance on medication, thereby expanding the customer base.

Herbal Supplement Market Report Highlights

• Medicinal functionality emerges as the top revenue generator in the herbal supplement market. This reflects the increasing preference among consumers for natural health remedies. Scientific research and studies that support the therapeutic benefits of specific herbs have also played a vital role in driving the popularity of herbal supplements for medicinal purposes.
• The offline stores segment is expected to hold a greater revenue share for herbal supplements in the global market due to the significant presence of traditional retail channels in the distribution of health and wellness products.
• The regulatory environment in North America fosters consumer trust in herbal supplements, leading to a significant expected CAGR in the region's herbal supplement market.
• The global key market players include Herbalife International Inc., Ricola AG, Archer Daniels Midland, Nutraceutical International Corporation, Bio-Botanica Inc., Arizona Natural Products, Mondelez International, Inc., THE KRAFT HEINZ COMPANY, Royal Ingredients Group, Pioneer Industries Limited, Cargill Inc., Meelunie B.V., Permolex Ltd, Amilina AB, Z&F Sungold Corporation, Tereos SCA, Ardent Mills LLC, Bryan W. Nash & Sons Limited, The Himalaya Drug Company, Willmar Schwabe GmbH, Rainbow Light Nutritional Systems, etc.

Polaris Market Research has segmented the herbal supplement market report based on source, functionality, application, distribution channel, and region:

Herbal Supplement, Source Outlook (Revenue - USD Billion, 2019 - 2032)

• Leaves
• Roots
• Bark
• Fruits & Vegetables
• Others

Herbal Supplement, Functionality Outlook (Revenue - USD Billion, 2019 - 2032)

• Medicinal
• Aromatic
• Others

Herbal Supplement, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Food and Beverage
• Pharmaceuticals
• Personal Care
• Others

Herbal Supplement, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• Offline Stores
• Online Channels

Herbal Supplement, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Herbal Supplement Market Report Scope