By 2032, the global herbal supplements market is expected to develop at a CAGR of 7.8%, reaching a value of USD 190.2 billion.
Consumer knowledge of the therapeutic benefits of taking herbal supplements is likely to be one of the primary drivers of market growth, particularly among the elderly. The global market for herbal supplements has been propelled by an increase in female herbal supplement clients, as well as an increase in the usage of herbal products by the youth population.
There is significantly more volume in the pharmaceutical segment of the herbal supplement market. North America and Asia-Pacific herbal supplement markets are likely to increase significantly. The growth of the medical industry would help the herbal supplement market in these areas. Some of the world’s most well-known pharmaceutical corporations are conducting research on a variety of herbal supplements in response to the increased demand for herbal therapies.
Takeaways from the Market Research
- Through 2032, the herbal supplement market in the United States and the Middle East, and Africa is predicted to grow at CAGRs of 7.8% and 15%, respectively.
- The Asia Pacific Herbal Supplements market grew 6.6 percent year over year, defying expectations about how the industry would do in the event of a global epidemic. In 2022, natural supplement demand/sales accounted for around 33% of total supply in North America.
- The European herbal supplement market currently accounts for 32% of the global market.
- Due to increased customer demand for nutritionally balanced foods, herbal supplement components are selling well in international markets.
Competitive Environment:
Jarrow Formulas, Inc.; Archer Daniels Midland Company, Nature’s Bounty; Herbalife International of America, Inc., Blackmores, Nutraceutical International Corporation, Gaia Herbs; Jarrow Formulas, Inc.; Solgar, Inc.; Ancient GreenFields Pvt. Ltd.; Now Foods, Others; Jarrow Formulas, Inc.; Solgar, Inc.; Ancient GreenFields Pvt. Ltd.; Now Foods
