The demand for herbal nutraceuticals is expected to increase during the forecast period,owing to rise in number of health conscious customers across the world, In addition, presently people are consuming herbal nutraceuticals to boost their immunity against thenovel coronavirus. Hence, such factors are expected to boost the market growth.
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The global herbal nutraceuticals market size was valued at $28,329.7 million in 2019, and is projected to reach $48,446.5 million by 2027, registering a CAGR of 7.55% from 2021 to 2027.
Herbal nutraceuticals help in maintaining health and act against nutritionally induced acute and chronic diseases, which promotes optimal health, longevity, and quality of life.Some common herbal nutraceuticals includealoe vera, turmeric, ginger, and garlic.These herbal nutraceuticals are available in different formats in the market, which includecapsules, tablets, liquids, spray, syrups,and powders. In addition, expansion of distribution channels such as online stores, supermarkets, hypermarkets, and pharmacy has made these herbal nutraceuticals easilyavailableto customers, which, in turn, contributes tothe market growth. Moreover, enhancing immunity power is one of the new herbal nutraceuticals market trends now.
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The global herbal nutraceuticals market analysis is segmentedon the basis of product type, nature, form, sales channel, and region. By product type, it is classified into ginger, garlic, turmeric, aloe vera, green tea and Others. By nature, it is divided into conventional and organic. By form, the market is segmented into capsules & tablets, powder, liquid, and others. Based on distribution channel, the market is segregated intopharmacy, online store, supermarket/hypermarket and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, Indonesia and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The key players operating in the global herbal nutraceuticals industry include Now foods, Herbochem, OREGON’S WILD HARVEST, Gaia Herbs Farm, Nature’s Bounty. Bio Botanica INC. Herb Pharma (Pharmaca),Solaray, Pure Encapsulations, LLC,and Solagar.
Key findings of the study
By product type, the ginger segment accounted for the highest herbal nutraceuticals market share in 2019, growing at a CAGR of 6.20% from 2021 to 2027.
By nature, the conventional segment accounted for the highest market share in 2019, growing at a CAGR of 7.30% from 2021 to 2027.
By form, the capsules & tablets segment accounted for the highest market share in 2019, growing at a CAGR of 6.70% from 2021 to 2027.
By sales channel, the online store segment accounted for the highest market share in 2019, growing at a CAGR of 6.56% from 2021 to 2027.
By Region, Europeoccupied maximum share in the herbal nutraceuticals market in 2019 and is expected to dominate the market during the forecast period.
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