Global Herbal Nutraceuticals Market Grows at a Staggering CAGR of 7.58%

Introduction

Herbal nutraceuticals are made only from natural ingredients found in plants. These herbal nutraceuticals are available in various capsule, tablet, liquid, spray, syrup, and powder forms. Sales of herbal nutraceuticals are expected to rise in value throughout the forecast period, primarily due to the proliferation of online merchants. They are acquired from health food stores or pharmacies on the internet. These herbal nutraceuticals are also widely available in various retail settings, including natural health shops, health food superstores, grocery stores, and online health food stores.

Market Dynamics

Increase in Health-Conscious Consumers Worldwide Drives the Global Market

Demand for herbal nutraceuticals is soaring as more and more people learn about how they can improve their health, lifespan, and quality of life, including protection against acute and chronic diseases linked to poor nutrition. A change in consumer diets results from demographic shifts such as increasing longevity, aging populations, and the prevalence of chronic diseases. Consumers' busy schedules have contributed to the rise in popularity of nutraceuticals, which provide essential nutrients and aid in the enhancement of consumers' physical and mental health. The main factors are expected to contribute to the market's growth.

Increase in Health-Conscious Consumers Worldwide Creates Tremendous Opportunities

The rising popularity of herbal nutraceuticals can be attributed to the growing body of evidence demonstrating their efficacy in preventing and treating various ailments, including those brought on by poor diet. Because of demographic changes, such as an aging population and an increase in the prevalence of chronic diseases, people are changing the foods they eat. Customers' increasingly hectic lifestyles have contributed to the rise in popularity of nutraceuticals, which directly supply them with necessary sustenance and help them improve their physical and mental wellness.

Regional Analysis

Europe is the most significant shareholder in the global herbal nutraceuticals market. Markets in the UK, Germany, France, Italy, and elsewhere in Europe that sell herbal nutraceuticals are analyzed. One of the most dependable and robust sectors of the global economy, Europe's food and drink industry continues to thrive. The rising health awareness of Europeans has fueled the rapid growth of the herbal nutraceutical industry. In addition, people in the area seek organic, natural nutraceuticals for health maintenance. It's encouraging news for the future of the herbal nutraceuticals market.

North America is expected to grow during the forecast period. The expansion of the herbal nutraceuticals market can be attributed to the increasing prevalence of health issues and the subsequent increase in consumer knowledge of the associated health benefits. The need for herbal nutraceuticals continues to rise. It's because people are more concerned than ever about getting diseases associated with poor lifestyle choices, such as diabetes, obesity, and cardiovascular disease. Many seek herbal nutraceuticals like garlic and ashwagandha to boost their immune systems. This advancement has primarily contributed to the herbal nutraceuticals industry's explosive growth in value-added product sales.

Due to rising demand from consumers and a plethora of providers, the herbal nutraceuticals market in Asia-Pacific is anticipated to increase throughout the forecast period. The rising number of health-conscious consumers is also expected to contribute to the region's economic growth. The region's increased demand for herbal nutraceuticals can be explained, in part, by a greater public understanding of the health benefits associated with using them and a corresponding desire to enhance the personal quality of life in the face of rising economic opportunities. Therefore, the herbal nutraceuticals industry has excellent potential for growth in the following years.

Key Highlights

• The global herbal nutraceuticals market was valued at USD 33798 million in 2022. It is projected to reach USD 65234 million by 2031, growing at a CAGR of 7.58% during the forecast period (2023–2031).
• Based on product type, the global herbal nutraceuticals market is bifurcated into ginger, garlic, turmeric, aloe vera, green tea, and others. The ginger segment is the highest contributor to the market.
• Based on nature, the global herbal nutraceuticals market is bifurcated into conventional and organic. The conventional segment is the highest contributor to the market.
• Based on form, the global herbal nutraceuticals market is bifurcated into capsules & tablets, powder, liquid, and others. The capsules & tablets segment is the highest contributor to the market.
• Based on sales channels, the global herbal nutraceuticals market is bifurcated into pharmacy, online stores, supermarkets/hypermarkets, and others. The pharmacy segment is the highest contributor to the market.
• Europe is the most significant shareholder in the global herbal nutraceuticals

Competitive Players

Competitive Players

The global herbal nutraceuticals market’s major key players are Bio Botanica, Inc, Gaia Herbs Farm, Herbochem, Pure Encapsulations, LLC, Sydler India Pvt, Herb-Pharma AG, Nature’s Bounty, Now foods, Oregon's Wild Harvest, Pharmaca, Archer Daniels Midland Company, Solaray, The Nature’s Bounty, and Bio Thrive Sciences.

Recent Developments

Market News

• In June 2022, Gaia Herbs announced that they had been awarded the Blue Zones Certification for their work in promoting longevity.
• In June 2022, Herbal Pharm's Pop-Up Store and Wellness Festival Activities in Singapore are presented by Made with Passion and Crane.

Segmentation

Global Herbal Nutraceuticals Market: Segmentation

By Product Type

• Ginger
• Garlic
• Turmeric
• Aloe vera
• Green Tea
• other

By Nature

• Conventional
• Organic

By Form

• Capsules & Tablets
• Powder
• Liquid
• Others

By Sales Channel

• Pharmacy
• Online store
• Supermarket/Hypermarket
• Others

By Regions

• North America
• Europe
• Asia-Pacific
• LAMEA