The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s herbal supplements market report forecasts the herbal supplements market size to grow to $14.79 Billion by 2027, with a CAGR (compound annual growth rate) of almost 8%.

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Herbal Supplements Market Size Forecast
The global herbal supplements market is expected to grow from $10.14 billion in 2022 to $10.91 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The herbal supplements market size is expected to grow to $14.79 billion in 2027 at a CAGR of 7.9%.

North America held the largest herbal supplements market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Herbal Supplements Market Driver ­– Increase In Number Of Health-Conscious Consumers
According to the International Food Information Council’s (IFIC) 2020 food and health survey, Americans have a strong interest in becoming more health-conscious, with 43% following a specific diet or eating pattern in 2020, up 38% from 2019. Also, 54% of all consumers cared more about the healthfulness of their food and beverage choices in 2020 than they did in 2010. Hence, the increasing number of health-conscious people is expected to propel the growth of the herbal supplements market in the forecast period.

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Key Herbal Supplements Market Trend – Increasing Their Investment In Research And Development
This trend is positively impacting the market. For example, in February 2022, a US-based health, beauty, and home care products company, Amway, collaborated with Indian technological institute, IIT Bombay, to speed up its research in the fields of botanicals, nutraceuticals, and herbal supplements. With this partnership, a team of in-house Amway researchers and IIT Bombay will collaboratively work to innovate in the different areas and to improve the nutrition and herbal range of products and ingredients of Amway.

Herbal Supplements Market Segment
1) By Form: Tablets, Capsules, Liquid, Powder And Granules, Soft Gels
2) By Sources: Leaves, Fruits, Roots, Vegetables, Barks
3) By Application: Food And Beverages, Pharmaceuticals, Personal Care
4) By Distribution: Store Based, Non-Store Based

Herbal Supplements Market Major Players and Strategies
Major players in the herbal supplements market are Ancient Greenfields PVT Ltd., Archer Daniels Midland Company, Arizona Natural Products, Bio-Botanica Inc., Blackmores, Herbalife International of America, Inc., Ricola, Solgar, Inc., Jarrow Formulas, Inc., Glanbia PLC, Gaia Herbs, NBTY, Inc., Nature’s Bounty, NaturaLife Asia Co., Ltd., Nutraceutical International Corporation, herbochem, Swanson Health Products, Third Coast Herb Co., Now Health Group, Herbal Africa, Sunfood Nutraceuticals, Wonder Labs, Wellness Origin Indy, ABCO Laboratories, Inc., Dabur, Weleda, Schwabe, Kunming Pharma, Taiji, DSM, and Rainbow Light Nutritional Systems.

In 2022, North America will be the largest region in the herbal supplement market. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the herbal supplements market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The Herbal Supplements Global Market Report 2023 covers regional data on herbal supplements market size, herbal supplements market trends and drivers, opportunities, strategies, and herbal supplements market competitor analysis. The countries covered in the herbal supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Herbal supplements refer to a plant-based substance that is believed to be helpful in maintaining or treating health. It aids in strengthening immunity without causing adverse effects and is more successful in relieving symptoms, particularly when treating allergies.

View More Reports Related To The Herbal Supplements Market –
Botanical Supplements Global Market Report 2023
Probiotics Dietary Supplements Global Market Report 2023
Protein Supplements Global Market Report 2023

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