Herbal Supplements Market: Pharmaceutical Industry Cashing In

Posted by niharika on July 22nd, 2019

Increasing adoption of herbal supplements by the geriatric population, changing lifestyle and unhealthy food habits are the growth drivers of the herbal supplements market. Increased consumer awareness related to safe production of herbal supplements is the current trend in the market. As per the findings from IndustryARC, the global herbal supplements market size stood at .35 billion in 2018. Furthermore, the market is expected to grow at a CAGR of 9.90% during the forecast period 2019-2025.

The report is titled “Herbal Supplements Market: By Formulation (Tablets, Syrups, Oils, Powders) Application (Agricultural, Pharmaceuticals, Dietary Supplements, Food & Beverages, Cosmetics, Animal Feed) Age Group (Infants, Children, Adolescent, Adults, Old Age Adults) & Geography – Forecast (2019 - 2025).” It consolidates an in-depth assessment of the competitive landscape, market trends, application analysis, source product analysis, functional analysis, age-group consumption, product portfolio, product market sizing, and strategic analysis of the global herbal medicine market.

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Herbal Supplements Market: Leading Segments
Based on its application, the herbal medicine market segments are divided into pharmaceuticals, food and beverages, and personal care. Pharmaceuticals is a major application of the herbal supplements market. Therefore, herbal supplements market of pharmaceuticals is projected to grow at a CAGR of 10.05% during the forecast period 2019-2025. The growth of the pharmaceutical application in the herbal supplements market is attributed to the rising awareness of consumers to self-diagnose their healthcare requirements.

Europe has a lot of scopes for natural ingredients suppliers. Based on the plant source, herbal supplements are segregated into leaves, barks, fruits and vegetables, roots; natural supplements taken by consumers. Some new ingredients such as calendulae herba, cistus creticus, find opportunities in herbal supplements segment of Europe, as the companies integrate cultivation, processing, and marketing which made Europe to hold an integral share in the herbal supplements market. Geographically, the herbal supplements market size in Europe is accounted for 27.40% in 2018. Countries such as Italy, France, and the U.K. are reformulating herbal medicinal products as food supplements to attract new consumer groups.

Herbal Supplements Market: Disruptive Trends
• Herb supplements can have side-effects when not used as per instructions, as similar to drugs. In 2018, the National Center for Complementary and Integrative Health (NCCIH) of the U.S. introduced an app named “HerbList” which provide scientific and research-based information about the safety and effectiveness of herbal products.  The app help patients, consumers, healthcare providers to understand the herb-drug interactions, potential safety problems, and side-effects. Applications as such are gaining consumer traction to understand the side-effects of herbal supplements.

• A homegrown medication called Botanicals is widely deployed procedure of drug trend today. In addition to the common herbal products, Botanicals grow various herbs such as Anti-Inflammatory Herbs, Smoking Herbs, Fertility Herbs, and Healing Herbs.

• Traditional Medicine market continues to dominate in Asian countries such as China, India, and Japan.

Herbal Supplements Market: Competitive Landscape
Major vendors operating in the global herbal supplements market are Archer Daniels Midland Company, Naturalife Asia Co., Ltd., Arizona Natural Products, Bio-Botanica Inc., Blackmores Ltd, Gaia Herbs, Glanbia PLC, Herb Pharm, Nature’s Bounty, Dr. Willmar Schwabe GmbH & Co. Herbalife International of America, Inc., KG, Nutraceutical International Corporation, Rainbow Light Nutritional Systems, Ricola AG, The Himalaya Drug Company, Twinlab Corporation and DSM Nutritional Products Ltd. which are holding the major market share.

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: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.