Herbal supplements are organic dietary additives that are derived from natural raw materials such as moringa, turmeric, ginger, echinacea, cohosh, and flaxseeds, among others. Tablets, powders, soft gels, liquid extracts, ointments, capsules, and other forms of supplements are the most common.Herbal supplements provide a wide range of medicinal characteristics due to their high content of minerals, amino acids, enzymes, and vitamins, all of which are necessary for human health. These supplements also have antiseptic, antibiotic, anti-depressant, and anti-inflammatory properties, as well as giving skin radiance and immune system support.Herbal supplements are commonly used by children, adults, and the elderly around the world because of their benefits.Consumer health concerns, combined with rise in expenditures on preventative healthcare goods, have boosted the market for herbal supplements in recent years.
Companies Covered:
Arizona Natural Products, The Archer Daniels Midland Company, Twinlab Corporation, Blackmores Ltd., Glanbia, Plc, Herb Pharm, LLC., Herbalife International of America, Inc., Gaia Herbs, DSM Nutritional Products AG, Naturalife Asia Co., Ltd., Nature’s Bounty Co., Nutraceutical International Corporation, Dr. Willmar Schwabe GmbH & Co. KG, Rainbow Light Nutritional Systems, Inc., Ricola AG, The Himalaya Drug Company, and Bio-Botanica Inc
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COVID-19 Impact Analysis
The supply chain interruption has not only hampered herbal supplement manufacture, but it has also reduced inventories in retailers. As a result, there is a mismatch between market demand and supply for the goods.
Moreover, COVID-19 has led to a stoppage of production facilities. Due to lockdown crucial process of extraction and conversion could not take place this has led to fall in stock of the product and fall in revenues
Manufacturers of these products were also affected a lot due to financial issues and non-availability of funds.
Top Impacting Factors
Increased expenditure on health and wellbeing, as well as rising disposable income levels, are predicted to boost demand for herbal supplements internationally, particularly in emerging economies.
Consumers are increasingly preferring to purchase health and wellbeing products over luxury things. Herbal supplements aid in the maintenance of cholesterol levels, the regulation of the digestive system, and stress reduction. As a result, rising awareness of the health benefits offered by these products is likely to drive market growth.
Furthermore, the high prevalence of lifestyle disorders such as diabetes, obesity, and others, as well as the growing worldwide elderly population, has fueled demand for dietary supplements to help people manage their health risks.
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Market Trends
Health Awareness among Consumers has Fueled Demand
The herbal supplement market is predicted to grow due to increased health and wellness spending and rising disposable income levels, particularly in emerging economies. Consumers in underdeveloped countries are increasingly preferring to buy health and wellness products over luxury goods. Herbal supplements aid in the maintenance of cholesterol levels, the regulation of the digestive system, and the reduction of stress. Furthermore, the expansion of the herbal supplement industry is fueled by a rise in demand for nutritional supplements and the negative effects of allopathic pharmaceuticals.
Growth in demand for supplements to promote preventive health measures, as well as rising per capita disposable income in emerging nations, are driving global market expansion. Herbal supplements aid in cholesterol management, digestive system regulation, and stress reduction. These advantages are widely advertised by industry actors, resulting in increased sales of herbal supplements around the world.
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High Demand for Turmeric Supplements
Turmeric has a wide range of health advantages. Customers nowadays are looking for turmeric that has certain health benefits. In the herbal supplement market, market players will invest in turmeric goods that would aid in the cure of a specific condition rather than generic turmeric products. This is expected to drive the market growth for herbal supplement market
Over the projection period, the turmeric supplement segment is predicted to grow at the quickest rate of 8.1 percent. The growing importance of turmeric for therapeutic applications, as well as significant clinical studies confirming the efficiency of turmeric supplements, is propelling the industry forward.Turmeric can also help with hyperlipidemia, anxiety, metabolic syndrome, as well as inflammatory and oxidative disorders. Major corporations are investing more in R&D for the creation of turmeric supplements due to the numerous therapeutic qualities of turmeric.
Key Benefits of the Report
This study presents the analytical depiction of the Herbal Supplements industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Herbal Supplements Marketshare.
The current market is quantitatively analyzed from 2020 to 2028 to highlight the Herbal Supplements Marketgrowth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed Herbal Supplements Marketanalysis based on competitive intensity and how the competition will take shape in coming years
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