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Herbal Supplements Market Segmented By Source such as Fruits and vegetables, Barks, Leaves. Roots used in Powder, Oils, Capsules and tablets, Syrups Forms
Herbal supplements are products naturally derived from plants and/or their oils, roots, seeds, berries, or flowers. There are millions of herbal species are exist across the world. Herbal supplements are processed naturally without using any chemical and synthetic ingredients. Which is the key growth driver of the global herbal supplements market.
Herbal supplements have thousands of health benefits depending on the species. Herbal plants and extracts have been used for medicinal propose for thousands of years. Recently, the consumer shift towards natural and organic products the demand for herbal ingredients is increasing dramatically across the globe.
The herbal supplements are widely used in aromatherapy as these helps to regulate the distortive system, maintain cholesterol level, reduces stress. Also, herbal supplements gaining popularity among pharmaceutical manufacturers as increasing consumer preference for herbal medicines.
The climatic changes, increasing pollution, and changing food habits are widely impacting human health. In addition, the busy lifestyle, increasing urbanization, and excessive work are resulting in unhealthy weight gain, depression, anxiety, and other issues. Thus, the consumer’s preferences for natural ingredients is increasing.
Consumers are looking for the ingredients used in the products while buying products such as food and beverage, health supplements, medicines, or any other products. These factors are fueling the growth of the global herbal supplements market.
Besides, the increasing vegan population is another potential growth factor for the global herbal health supplements market. In recent years, the number of herbal drugs, cosmetic, and personal care product manufacturers is increasing across the globe. The demand for herbal supplement and ingredients are expected to increase significantly in foreseeable future.
Some of the key players engaged in the global herbal supplements market are as follows, Glanbia plc. Archer Daniels Midland Company, Herbalife International of America, Inc., Nutraceutical International Corporation, Blackmores, Arizona Natural Products, NBTY, Inc., NaturaLife Asia Co., Ltd., Ricola, Bio-Botanica Inc., and Others.
These key players are focused on increasing investment in research development to develop new herbal supplement products to fulfill increasing demand by consumers in different categories. Also, the manufacturers are seeking for new opportunities in the global pharmaceutical, and food and beverage industries.
North America and Europe are expected to hold the largest share in the global herbal supplements market owing to increasing inclination towards plant-based food consumption. Besides, these regions have the highest number of health-conscious consumers along with high spending power of consumers on food and beverage and supplement products.
The Asia Pacific is expected to register a significant growth rate during the forecast period of the global herbal supplement market. The countries such as India, China, Indonesia, Malaysia, etc. are the leading producers of herbal plant and ingredients.
In addition, the increasing health consciousness and rising spending power of the consumers is expected to fuel the growth of the herbal supplements market in the Asia Pacific region. Latin America and the Middle East and Africa are expected to register a steady growth rate in the forecast period of the global herbal supplements market.
As the COVID-19 disease outbreak spread across the world, every industry is witnessing the impact of COVID-19. The herbal supplements are mainly utilized in the food and beverage, pharmaceutical, nutraceutical, and personal care and cosmetic industries. Expect personal care and cosmetic industry rest are fall under the essential goods category.
Thus, the movement of these products was normal compare to other non-essential products. The lack of treatment options for COVID-19 has raised many concerns among the population across the globe.
As herbal products have less or no side effects on health, consumer preference for herbal products was high during the COVID-19 outbreak. Moreover, the sales of herbal supplements wouldn’t expect that much of an impact due to higher sales of health beneficial products during the lockdown.