The global herbal supplements market is expected to get triggered by considerable market demands and achieve a robust CAGR over the forecast period (2018-2023), claims Market Research Future (MRFR). Herbal supplements are health products, primarily sourced from several parts of a tree such as a leaf, bark, seed, shell, and others. They contain particular features which, if consumed regularly, can impact the health on a positive note. Among features, the ability to impact aging, clearing toxins, and reducing weight are some of the positive market boosters.
Several factors can trigger the growth of herbal supplements in the coming years. Better government regulations in several countries are expected to boost the market. At the same time, the improved delivery format can increase the number of takers. With government regulations on their side, manufacturers are now aiming at a better distribution channel to target a wider client base. Surging expenditure, triggered by health concerns, can put the market on a further growth track. E-commerce, on the other hand, is creating a network to expand the businesses further. People are finding it appealing as the products are becoming cheap.
The core of the global herbal supplements industry report lies in its segmentation by ingredients, delivery format, and function. MRFR, in their report, particularly stressed on volume-wise and value-wise data collection to provide better predictive analysis of the market.
On the basis of ingredients, the herbal supplements market includes ginseng, hawthorn, ginkgo, epimedium, green tea, stevia, aloe vera, and others. The green tea segment is benefiting substantially from the recent demand it is experiencing for its ability to detox the body.
Based on the delivery format, the herbal supplements market segmentation comprises liquid, powder, tablet, capsule, and others. The capsule style of packaging can benefit the most in terms of growth over the review period due to its easy intake procedure.
Based on the function, the herbal supplements market can be segmented into beauty products, weight loss, antioxidant digestive system, regulation of blood system, memory improvement, anti-aging, and others. The weight loss segment is expecting the fastest growth due to the growing health awareness and rising cases of obesity.
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Going by region-specific analysis of the global herbal supplements market, MRFR included North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (ROW) for a better market analysis.
The APAC is expected to rise as the cultural affinity for herbal products in countries such as India and China are going to provide the thrust. The region is witnessing a surge in herbal supplements with antioxidants, anti-aging, and beauty products managing essential roles. Export is also a significant factor that is taking the market ahead. For instance, China’s rise as one of the leading exporters of herbal supplements can vouch for the regional market growth.
North America is now riding faster ahead as the trend is now gearing up. The time is right for growth. The region is showing extraordinary growth in terms of herbal product inclusion and dietary managements.
Europe’s contribution to herbal products depends mostly on stringent government laws and increasing popularity among consumers. As a weight loss product, this is gaining much traction. Governments are providing support for future sustenance and established pharmaceutical companies are taking over small nutraceutical companies which are helping the market in growth.
Several companies in the herbal supplements market are eyeing for strategic growth that would eventually take the concerned market forward. These companies, as enlisted in MRFR report, are Herbalife International of America, Inc. (U.S.), Archer-Daniels-Midland Co. (U.S.), Ricola (Switzerland), Glanbia PLC (Ireland), Blackmores Limited (Australia), NBTY (U.S.), and Naturalife Asia Co., Ltd. (Seoul, Korea).
In March 2019, Gaia Herbs introduced their new products based on Hemp, Nootropics, and Mushroom & Herbs Functional Powders with updated packaging. These latest products are a blend of Gaia’s herbal formulas and science. With their expertise of three decades, the company is planning for extraordinary growth now.
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