Global Herbal Supplements Market to Reach $2.5 Billion by 2030
The global market for Herbal Supplements estimated at US$1.6 Billion in the year 2023, is expected to reach US$2.5 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2023-2030. Echinacea-based Herbal Supplements, one of the segments analyzed in the report, is expected to record a 6.9% CAGR and reach US$899.7 Million by the end of the analysis period. Growth in the Flaxseeds-based Herbal Supplements segment is estimated at 6.9% CAGR for the next 7-year period.
The U.S. Market is Estimated at $413.9 Million, While China is Forecast to Grow at 10% CAGR
The Herbal Supplements market in the U.S. is estimated at US$413.9 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$588.2 Million by the year 2030 trailing a CAGR of 10% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$350.4 Million by the year 2030.
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