A natural plant-based supplement is a dietary product generated from plants, including components such as flowers, leaves, roots, or seeds, that is taken orally for medical purposes. These natural supplements, which fall under the category of dietary supplements, are also known as herbal supplements. In contrast to pharmaceutical pharmaceuticals, they are labeled and sold as "herbals," "herbal products," "herbal medicines," or "herbal remedies." Furthermore, these supplements are not intended to substitute a well-balanced diet, and they are subject to different regulatory requirements than over-the-counter (OTC) and prescribed pharmaceuticals, with less stringent testing required by the Food and Drug Administration (FDA).
Global Herbal Dietary Supplement Market Driving Factors and Challenges
Driving Factors:
Customers' understanding of the advantages of wellness and health products
The demand for herbal supplements is predicted to grow internationally, especially in emerging nations, due to rising levels of disposable income and increased spending on health and wellness. More and more consumers are selecting wellness and health products over upscale goods. Herbal supplements aid in stress reduction, digestive system regulation, and cholesterol maintenance. Therefore, it is anticipated that growing consumer awareness of the health advantages these products offer will propel market expansion. The growing prevalence of sedentary lifestyles, the consumption of more nutritious foods, and growing health consciousness are all contributing to the growth of the herbal supplement market as a whole.
Challenges: The herbal supplement market is less carefully regulated than the pharmaceutical industry, which increases the danger of low-quality goods and uneven dosing. Although some studies show the benefits and safety of herbal supplements, they are frequently limited and ambiguous. It can be tough to persuade skeptics to test these items. Many herbal supplements may interact with prescription medications, which can be hazardous. Despite increasing acceptance of alternative therapies, herbal supplements remain stigmatized in some areas. Although herbal supplements are readily available, they can be difficult to locate in certain places. This can hinder growth in specific geographical areas.
Impact of COVID-19 on Global Herbal Dietary Supplement Market
The market for herbal supplements has been significantly impacted by the COVID-19 outbreak. The epidemic has resulted in an increase in demand for immune support supplements. Sales of elderberry and echinacea have increased significantly. The pandemic has also resulted in a surge in internet sales of herbal supplements, as people seek more convenient ways to buy items.
Global Herbal Dietary Supplement Market Key Players:
Jarrow Formulas, GNC, Nature's Sunshine, Swanson, Rainbow Light, Amway, Pure Essence, Pharmavite, Nature's Way, and Herbalife are just a few of the major market players that are thoroughly examined in this market study along with revenue analysis, market segments, and competitive landscape data.
Global Herbal Dietary Supplement Market Segmentation:
By Product Type: Based on the Product Type, Global Herbal Dietary Supplement Market is segmented as; Powders, Shakes, Tablets and Capsules, Others.
By End User: Based on the End User, Global Herbal Dietary Supplement Market is segmented as; Hospitals, Clinics, Home Use.
By Region: This research also includes data for North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.