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 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 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 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.
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.
| Report Attribute | Details |
|---|---|
| Market size value in 2019 | USD 27.9 Billion |
| Market size forecast in 2026 | USD 64.3 Billion |
| Base Year | 2019 |
| Historical Period | 2016 to 2018 |
| Forecast Period | 2020 to 2026 |
| Revenue Growth Rate | CAGR of 11.4% from 2020 to 2026 |
| Number of Pages | 244 |
| Number of Tables | 479 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Nature, Product Type, Distribution Channel, Form, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Free Valuable Insights: Global Herbal Nutraceuticals Market to reach a market size of $64.3 Billion by 2026
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.
By Nature
By Product Type
By Distribution Channel
By Form
By Geography
Companies Profiled
The herbal nutraceuticals market size is projected to reach USD 64.3 billion by 2026.
There are several reason that cause high demand of this market one of them is the usage of herbal supplements in animal feed.
The Conventional market dominated the global herbal nutraceuticals market by Nature 2019, growing at a CAGR of 10.4 % during the forecast period.
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.
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