The herbal supplement market is capable of accumulating USD 93,886.3 million in revenues in 2024. As the appeal of natural or plant-based supplements has increased substantially recently, the overall market is set to experience a year-on-year growth of 7.6% during the forecast period. By following this promising CAGR, the herbal supplement industry is progressing to attain a revenue potential of USD 194,859.4 million by 2034.
Herbal Supplement Market Trends & Analysis
| Report Attribute | Details |
|---|---|
| Herbal Supplement Market Size (2024) | USD 93,886.3 million |
| Market Forecast Value (2034) | USD 194,859.4 million |
| Market Projected Growth Rate (2024 to 2034) | 7.6% CAGR |
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The valuation of the global herbal supplement market in the year 2019 was USD 86,859.4. A newly released data of demand analysis of global herbal supplements showed that plant-based supplements observed 7.04% year-on-year growth between 2019 and 2023. The overall market held a 43% share of the nutritional supplements market during this historical period.
Between 2019 and 2023, the consumption of herbal supplements grew substantially, though not equally distributed throughout all regions, as this growth was stronger in developing markets. Particularly, the market in Asia Pacific grew with an above-average growth rate, bucking initial skepticism about how the market would perform during a global pandemic.
| Attributes | Details |
|---|---|
| Market Value (2019) | USD 86,859.4 million |
| Market Historical Growth Rate (CAGR 2019 to 2023) | 7.04% CAGR |
The total herbal supplement industry is being boosted by the increasing incidence of sedentary lifestyles, increased consumption of healthy meals, and more awareness regarding health care. An increased understanding of eating healthy has resulted in an increase in the occurrence of medical conditions.
People are becoming increasingly aware of their food consumption and the advantages of herbal supplements which is encouraging product variation. So, there are a variety of different herbal supplements available in the market today. Some of the most popular include antioxidants, probiotics, and omega-3 fatty acids.
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The table below lists the countries with lucrative opportunities for the herbal supplement-producing industries.
| Regional Market Comparison | CAGR (2024 to 2034) |
|---|---|
| United States | 7.2% |
| Germany | 5.8% |
| Japan | 3.7% |
| China | 6.8% |
| India | 4.2% |
The United States is the leading herbal supplement supplier in North America and is set to advance further with an estimated CAGR of 7.2% from 2024 to 2034.
Demand for herbal supplements in the United States has been driven by the rise in female buyers of natural estrogen supplements for menopause. Parents in the country are adopting natural vitamin C supplements for their children. In addition to this, people joining fitness clubs and gyms have surged considerably, boosting the sales of natural fat burners.
The Germany herbal supplement industry expanded noticeably during the pandemic years. Regional sellers are witnessing 5.8% growth per year on average which can continue over the next ten years as well.
Weight gain disorders like diabetes are on the rise in the country, and customers with more disposable income are more likely to use herbal supplements. Moreover, the German market's expansion would be aided by continued demand for herbal supplements from other European nations like France and Spain.
Herbal supplement production in China peaked in the recent past, resulting in an estimated CAGR of 6.8% from 2024 to 2034.
A notable rise in the aging population looking for all-natural means to maintain health and lifespan in China has increased the demand for natural supplements for joint and blood pressure. Furthermore, exports of herbal supplements from China have increased due to the substantial expansion of the pharmaceutical industry
Demand for conventional herbal supplements in Japan has turned out very lucrative for regional players that could experience 3.7% growth per year till 2034.
The regional market in Japan is witnessing lucrative growth owing to consumer reliance on herbal supplements for safety and effectiveness. The growth of this market is largely driven by an increase in the obesity rate, government efforts, and financing to encourage health awareness, and lifestyle changes.
India has witnessed a surge in the supply of herbal supplements globally, positioning the regional market to follow a CAGR of 4.2% through 2034.
In developing nations like India growing disposable income is playing a crucial role in the profitable expansion of herbal supplement products. Furthermore, India has become the key target market for all players, with Herbalife’s CEO announcing that the country has shown double-digit growth in the last 5 years.
Based on form type, the herbal or natural factor supplements in powder form capture 32.8% of the total revenue to be generated in 2024.
| Attributes | Details |
|---|---|
| Top Form Type or Segment | Powder |
| Total Market Share in 2024 to 2034 | 32.8% |
The pharmaceutical industry's expansion is driving the herbal supplement business in its powder form. Also, herbal supplements recommended by medical practitioners as part of integrative treatment regimens are mostly marketed in powder form.
Based on ingredient type, moringa is figured to contribute to 32.4% of herbal supplements produced in 20234.
| Attributes | Details |
|---|---|
| Top Ingredient Type or Segment | Moringa |
| Total Market Share in 2024 | 32.4% |
A growing inclination toward eco-friendly and organically sourced goods has strengthened the consumption of herbal supplements prepared from moringa. Moreover, alternative pharmaceutical products like those in ancient treatment therapies are in high demand and make greater use of moringa for effective medications.
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Across North America, total demand for natural supplements contributed around one-third of the total sales in 2023 making it the global hub for herbal supplement businesses. However, many emerging companies in Asia are looking to expand their product range by including Ayurveda and other traditional medicine ingredients and introducing them to the global market.
Recent Developments
| Attribute | Details |
|---|---|
| Estimated Market Size (2024) | USD 93,886.3 million |
| Projected Market Size (2034) | USD 194,859.4 million |
| Anticipated Growth Rate (2024 to 2034) | 7.6% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Market Analysis | USD million or billion for Value and Units for Volume |
| Key Regions Covered | North America; Latin America; Europe; Middle East & Africa (MEA); East Asia; South Asia and Oceania |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Spain, Italy, France, United Kingdom, Russia, China, India, Australia & New Zealand, GCC Countries, and South Africa |
| Key Segments Covered | By Form Type, By Application, By Ingredient Type, By Consumer Orientation, By Distribution Channel, and By Region |
| Key Companies Profiled | Glanbia plc; 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 |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at USD 93,886.3 million in 2024.
The market is to surge at 7.6% CAGR during the forecast period.
The market is predicted to be valued at USD 194,859.4 million by 2034.
The market was valued at USD 86,859.4 million in 2019.
Moringa accounts for nearly 32.4% revenue share of the market.
The United States is to witness a CAGR of 7.2% in sales through 2034.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Form 5.1. Soft Gel/Pills 5.2. Confectionery Products 5.3. Gummies 5.4. Chewable Pills 5.5. Gel Caps 5.6. Powder 5.7. Liquid 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Ingredients 6.1. Moringa 6.2. Echinacea 6.3. Flaxseeds 6.4. Turmeric 6.5. Ginger 6.6. Ginseng 6.7. Other Ingredients (Horehound, Elderberry, etc) 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Consumer Orientation 7.1. Men 7.2. Women 7.3. Senior Citizens 7.4. Others (Kids & Toddlers) 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application 8.1. Weight Loss 8.2. Sports Nutrition 8.3. General Well-being 8.4. Immune & Digestive Health 8.5. Bone & Joint Health 8.6. Heart Health 8.7. Other Specific Requirements (Supplements, Anti-allergies & Eye-health) 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Distribution Channel 9.1. Hypermarkets/Supermarkets 9.2. Convenience Stores 9.3. Drug Stores and Pharmacies 9.4. Health and Wellness Stores 9.5. Online Retailing 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 17. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. Glanbia plc 20.2. Jarrow Formulas, Inc. 20.3. Archer Daniels Midland Company 20.4. Nature’s Bounty 20.5. Herbalife International of America, Inc 20.6. Blackmores 20.7. Nutraceutical International Corporation 20.8. Gaia Herbs 20.9. Jarrow Formulas, Inc 20.10. Ancient GreenFields Pvt. Ltd 21. Assumptions & Acronyms Used 22. Research Methodology
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Herbal Supplement Market
