Luton, Bedfordshire, UK, Sept. 13, 2022 (GLOBE NEWSWIRE) — Accuracy Consultancy, the market research and consultancy wing of Improve Digital Consultancy Private Limited has completed and published the final copy of the research report detailed about Herbal Supplements and Remedies Market.
The herbal supplements and remedies market is expected to register a CAGR of 11% over the forecast period, reaching a valuation of US$425 billion by 2029.
For many years, herbal supplements have been widely used as medicines and treatments for many diseases. Due to the added health benefits of herbal supplements, more and more people around the world are converting to them. Natural, non-dietary, non-pharmaceutical herbal supplements are used to promote good health. Herbal supplements have negligible or no negative effects and are made from herbal ingredients. The demand for herbal supplements is increasing due to their natural label, which attracts health-conscious customers who want to improve their health. Additionally, rising prices of dietary and medicinal products are propelling the growth of the global herbal supplements and remedies market.
The herbal supplements and remedies market is driven by the rapidly aging population, increasing use of health supplements, emphasis on healthy living, and growing attitudes towards preventative health care. Other factors contributing to the expansion of the market include increasing demand for dietary supplements and adverse effects of allopathic medicines. Market expansion is, however, limited by strict regulatory standards for these herbal supplements and limited consumer demand. However, the US government’s implementation of current FDA Good Manufacturing Practices (CGMP) rules gives market players the ability to conduct research and create cutting-edge dietary supplements.
Herbal Supplements and Remedies Market: Opportunities
As more and more people turn to organic foods for their diets and general well-being, and demand for essential plant-based supplements floods the cosmetics and personal care market, market participants herbal supplements and remedies should anticipate profitable prospects. Market participants have been inspired to experiment with formulas and develop skin and hair care products accordingly. Vital herbal supplements are now frequently used in the creation of cosmetic products that improve the quality of hair and skin. Market players could collaborate with end-users to ensure steady supply of essential herbal supplements considering the rapid replacement of components in the highly competitive cosmetic sector.
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Herbal Supplements and Remedies Market: Recent Development
- Herbalife Nutrition’s Simply Probiotic, a patented shelf-stable probiotic strain based on the GanedenBC30 formulation, was launched in July 2019. This preparation will aid in the survival of a gastric passage in the intestines.
- Swanson Health Products launched 14 new varieties of probiotic supplements in November 2021 to provide tailored benefits for women, children and seniors. It will improve digestion, flora support, immunity and colon health.
- The healthcare divisions of GSK and Pfizer Inc. were merged in July 2019 to create a new consumer healthcare joint venture that would operate internationally as GSK Consumer Healthcare.
|Base year considered||2021|
|Forecast unit||Value (USD)|
|Segments Covered||Source, function, drug form, application and region|
|Regions covered||North America, Europe, Asia-Pacific and LAMEA|
|Companies covered||KPC Products Inc., NEXIRA, HISHIMO PHARMACEUTICALS, Schaper & Brümmer GmbH & Co. KG, Sydler Group of Companies, 21ST Century HealthCare, Inc., Zoic Pharmaceuticals, Herbally Yours Inc., Pharma Nord BV, NATURLAND, Others.|
Key Players of the Herbal Supplements and Remedies Market
Major Key Players of Herbal Supplements and Remedies Market are:- KPC Products Inc., NEXIRA, HISHIMO PHARMACEUTICALS, Schaper & Brümmer GmbH & Co. KG, Sydler Group of Companies, 21ST Century HealthCare, Inc., Zoic Pharmaceuticals , Herbally Yours Inc., Pharma Nord BV, NATURLAND, Others.
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Herbal Supplements and Remedies Market Dynamics
Consumer understanding of the benefits of wellness and health products
Global demand for herbal supplements, particularly in emerging countries, is expected to be driven by growing disposable income levels and rising health and wellness spending. More and more consumers are prioritizing wellness and health products over luxury goods. Herbal supplements support healthy cholesterol levels, gastrointestinal function, and stress reduction. As a result, growing consumer awareness of the health benefits these products offer is expected to fuel the expansion of the herbal supplements and remedies market..
The idea that many herbal supplements are natural is wrong. It is always better to use these products after consulting a doctor and herbalist as it may have negative side effects.
Herbal Supplements and Remedies Market Segmentation
By source, it is segmented into
- Fruits and vegetables
By function, it is segmented into
By dosage form, it is segmented into
- Capsules & Tablets
By Application, it is segmented into
- Food and drinks
- Personal care
Herbal Supplements and Remedies Market: Regional Analysis
Due to the existence of densely populated countries like China and India, the Asia-Pacific region holds the largest herbal supplements and remedies market share in the entire industry. Moreover, this region has the fastest growth rate, which, together with an increase in disposable income, increases the demand in this field. This area is considered dominant since it holds 39% of the market. Herbal Supplements and Remedies Market demand is increased by the existence of vegans.
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