Global Herbal Nutraceuticals Market By Nature (Conventional and Organic), By Product Type (Ginger, Turmeric, Green Tea, Garlic, and Aloe Vera), By Distribution Channel (Pharmacy, Supermarket/ Hypermarket, Online Stores and Other Channels), By Form (Capsules & Tablets, Liquid, Powder, and Others), By Region, Industry Analysis and Forecast, 2020 - 2026
The Global Herbal Nutraceuticals Market size is expected to reach $64.3 billion by 2026, rising at a market growth of 11.4% CAGR during the forecast period. Nutraceuticals refer to goods that are derived from herbal commodities, vitamins, minerals, and nutritional substances that are consumed by people for their physiological benefits and also to enhance immunity against various diseases. Herbal medicines are beneficial over conventional products because they are low-priced, having fewer side effects, and have the natural healing procedure for strengthening the immune system. Growth in the field of herbal medicines and its medicinal products market will significantly drive the herbal nutraceuticals market.
The herbal supplements are widely used because of their medicinal properties and remedies for various diseases for many years. Many people across the globe are getting inclined towards herbal supplements because of their additional health benefits. These are the natural non-food substances and non-pharmaceuticals which are used for the improvement of one’s health. The herbal supplements are derived from plant resources and have slight or sometimes no side effects. The customers’ attention towards health has led to its rising demand for herbal nutraceuticals market. Moreover, the increased cost of nutritional and medicinal products drives the growth of worldwide herbal supplements and their remedies market.
Some of the factors accountable for this leading revenue share include leaning towards natural supplements, high purchasing power, and spending on various products of health and wellness. The possibility of developing lifestyle diseases like obesity and diabetes, is greater among the customers of this age group, due to which they rely on these herbal supplements for disease management. In addition, because of their medicinal properties, these products are also used in the prevention of disease, and the in-progress trend of preventive healthcare among people of this age group will boost the segment growth.
Based on Nature, the market is segmented into Conventional and Organic. The Conventional market held the highest market share in the Global Herbal Nutraceuticals Market by Nature 2019. However, rising demand for Organic supplements have fueled the adoption of Organic Nutraceuticals market is during the forecast period.
By Product Type
Based on Product Type, the market is segmented into Ginger, Turmeric, Green Tea, Garlic, and Aloe Vera. The turmeric supplement segment is expected to record the fastest CAGR in the forecast period. The increasing significance of turmeric for therapeutic measures s along with the extensive clinical studies showing the effectiveness of turmeric supplements, have supplemented the segment’s growth. This can also be used for treating metabolic syndrome, anxiety, hyperlipidemia, and also inflammatory and oxidative conditions.
By Distribution Channel
Based on Distribution Channel, the market is segmented into Pharmacy, Supermarket/ Hypermarket, Online Stores and Other Channels. The Supermarket/ Hypermarket market dominated the Global Herbal Nutraceuticals Market by Distribution Channel 2019. The Pharmacy market would showcase highest CAGR of 11% during (2020 - 2026).
Based on Form, the market is segmented into Capsules & Tablets, Liquid, Powder, and Others. In the year 2019, the capsule formulation segment is among the major revenue generating segment in the herbal supplements market owing to the availability of a range of herbal supplements in a variety of sizes based on dosage in form. The customers prefer capsules over tablets due to ease of swallowing and also lesser irritation to the GI tract.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia Pacific is the leading market in herbal supplements with one of the maximum shares in the forecast period due to an increase in awareness among the people regarding herbal supplements for healthcare. Furthermore, consumption of these nutraceutical products for improving health, increasing lifestyle-related diseases such as Osteoporosis, well-known healthcare infrastructure and technological advancements, and ever-increasing R&D by major players in the region. These are some of factors expected to speed up market growth.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nestle S.A. (Pure Encapsulations, LLC), NOW Foods, Inc., The Nature’s Bounty Co. (The Carlyle Group L.P.), Gaia Herbs, Inc., Oregon's Wild Harvest, Bio-Botanica, Inc., Solaray, Inc., Herbochem and Herb Pharma AG.
Strategies deployed in Herbal Nutraceuticals Market
Dec-2020: Nature's Bounty broadened its immune support portfolio by launching Immune 24 Hour+. It is one-of-a-kind supplement that contains the only Vitamin C with 24 hour immune support.
Oct-2020: Gaia Herbs came into partnership with German natural products company, SALUS Haus. Following the partnership, Gaia became the exclusive U.S. distributor of Salus Herbal and Dietary Supplements.
Aug-2019: Nature’s Bounty introduced Sundown Organics. These organics feature 12 frequently taken supplements. The lineup includes Well, Active Energy Complex, Terrific Tummy Probiotic, Sincerely Turmeric, Respond Immune Complex, Stress Escape, Goodnight Herbal Complex, Strong Bones Core Complex, Ener-B B12 1000 MCG, Positively Pretty Hair, and Skin & Nails Complex.
Apr-2019: Gaia Herbs launched the new line of vegan nootropic supplements, Bacopa, Agile Mind, and Nootropic Focus. This new line provides the powerful benefits of nootropics in the way nature intended, using traditional herbs to nourish the mind.
Mar-2019: Gaia Herbs is launching the new, modern packaging and three new product lines. These lines are Hemp, Nootropics, and Mushroom & Herbs Functional Powders.
Jan-2019: Nature’s Bounty announced the launch of a new line of softgel dietary supplements. These supplements have been designed for helping users enhance their appearance through targeted nutritional formulas. The seven offerings include MoistureTreat, a product that hydrates dry skin from the inside out; GoodnightLovely, a formula assisting sleep while also providing overnight hydration for skin; SkinElasticity, targeting skin elasticity and healthy aging; ClearComplexion, this supplement supports a clear complexion for people with non-cystic acne; GlowOn, a supplement aimed at promoting hydrated, glowing skin; EvenBeauty, a formulae that supports skin tone, radiance, and smoothness; HappySmile, a product that helps promote oral health.
Jun-2018: Solaray released the excipient-free herbs, fermented mushrooms. The products included in this range are Fermented Beet, Dandelion, Fenugreek, Alfalfa, Burdock, Ginger, and Echinacea. Solaray has also introduced a range of fermented mushrooms, including Lion’s Mane, Cordyceps, and Turkey Tail.
Scope of the Study
Market Segments covered in the Report: