Herbal Dietary Supplement Market Introduction and Overview
According to SPER Market Research, the Global Herbal Dietary Supplement Market is estimated to reach USD 22.97 billion by 2033 with a CAGR of 7.35%.
The report includes an in-depth analysis of the Global Herbal Dietary Supplement Market, including market size and trends, product mix, Applications, and supplier analysis. Herbal supplements, sometimes known as botanicals or plants, are a type of therapeutic dietary supplement. The primary goal of these plant-based dietary supplements is to promote health. Herbal supplements contain active compounds that are sourced from herbs. Tablets, capsules, powders, and liquids are all commercially available types of therapeutic dietary supplements. They are mostly utilized to cure a variety of ailments due to their therapeutic characteristics.
- Solgar Inc. announced a three-year relationship in May 2023 to become The Great Run Company's official wellness partner, with the goal of increasing brand recognition and promoting the advantages of their high-quality nutritional supplements.
- Prorganiq released a new line of premium herbal supplements in January 2021, with the goal of providing pure and potent remedies to improve people's overall health and help them build a better physique naturally. The launch focused on providing high-quality herbal supplements to help people achieve their wellness goals.
Market Opportunities and Challenges
Opportunities: The market increase can be attributed to significant shifts in consumer tastes. Consumers have become more aware of the benefits of preventative healthcare and have turned to natural products and treatments to improve their physical health. Another key market driver is the increased demand for natural and plant-based products. Herbal supplements are widely used for their medicinal capabilities, as therapies for a variety of ailments, and as effective synthetic replacements. These supplements are created from natural substances and are primarily intended to improve physical and mental health. They are made from plant materials and have minimal adverse effects. Manufacturers have heavily relied on natural labeling of herbal supplements to generate maximum demand from health-conscious consumers seeking natural solutions for their well-being.
Challenges:
Insufficient Education to Limit Market Expansion
The majority of customers are not fully informed about herbal supplements, which could result in product misuse or ineffectiveness. Additionally, this could allow users to take more or less medication, which would be detrimental to their health. Therefore, users may be at danger if they are not well informed about the potential negative effects of supplements or prescription medications.
Consumer misconceptions and false information
Consumer hesitancy and regulatory scrutiny may arise from false promises about the benefits of herbal supplements. Customers' trust in buying these supplements may change as a result. Furthermore, consumers may have doubts about the safety and effectiveness of herbal supplements due to a lack of robust clinical research on a few herbs.
Market Competitive Landscape
The prominent competitors covered in the herbal dietary supplement market research study are Rainbow Light, Nature's Way, Swanson, Pure Essence, Jarrow Formulas, GNC, Nature's Sunshine, Pharmavite, Amway, and Herbalife. Major market participants frequently pursue acquisition and strategic partnerships.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Product Type, By End User.
|
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. |
| Companies Covered | Jarrow Formulas, GNC, Nature's Sunshine, Swanson, Rainbow Light, Amway, Pure Essence, Pharmavite, Nature's Way, Herbalife. |
COVID-19 Impact on Global Herbal Dietary Supplement Market
The market for herbal supplements has been significantly impacted by the COVID-19 outbreak. The epidemic has increased demand for immune-supporting supplements. Sales of products like echinacea and elderberries have significantly increased. Online sales of herbal supplements have also increased as a result of the pandemic, as people seek out more convenient ways to make purchases.
By Product Type Insights:
By product type, tablets and capsules led the worldwide herbal dietary supplement market share in 2022. Tablets and capsules have emerged as the favored forms for consuming herbal dietary supplements due to their simplicity, accuracy in dosing, and ease of absorption into daily routines. The recognizable and standardized form factor of tablets and capsules increases consumer acceptance and simplicity of use, contributing to their dominance in the herbal dietary supplement business.
Key Target Audience:
- Dietary Supplement Manufacturers
- Herbal Product Manufacturers
- Pharmaceutical Companies
- Nutraceutical Companies
- Healthcare Professionals (e.g., Nutritionists, Dieticians, Doctors)
- Retailers and Distributors (Pharmacies, Supermarkets, Online Retailers)
- Raw Material Suppliers (Herbal Extracts and Ingredients)
- Regulatory Bodies
- End Consumers (Health-Conscious Individuals, Aging Population, Athletes)
- Research Institutes and Universities
Our in-depth analysis of the Herbal Dietary Supplement Market includes the following segments:
| By Product Type: | PowdersShakesTablets and CapsulesOthers |
| By End User: | HospitalsClinicsHome Use |
Key Topics Covered in the Report:
- Global Herbal Dietary Supplement Market Size (FY’2024-FY’2033)
- Overview of Global Herbal Dietary Supplement Market
- Segmentation of Global Herbal Dietary Supplement Market By Product Type (Powders, Shakes, Tablets and Capsules, Others)
- Segmentation of Global Herbal Dietary Supplement Market By End User (Hospitals, Clinics, Home Use)
- Statistical Snap of Global Herbal Dietary Supplement Market
- Expansion Analysis of Global Herbal Dietary Supplement Market
- Problems and Obstacles in Global Herbal Dietary Supplement Market
- Competitive Landscape in the Global Herbal Dietary Supplement Market
- Impact of COVID-19 and Demonetization on Global Herbal Dietary Supplement Market
- Details on Current Investment in Global Herbal Dietary Supplement Market
- Competitive Analysis of Global Herbal Dietary Supplement Market
- Prominent Players in the Global Herbal Dietary Supplement Market
- SWOT Analysis of Global Herbal Dietary Supplement Market
- Global Herbal Dietary Supplement Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Herbal Dietary Supplement Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Herbal Dietary Supplement Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Herbal Dietary Supplement Market
7. Global Herbal Dietary Supplement Market, By Product Type (USD Million) 2020-2033
7.1. Global Herbal Dietary Supplement Market Size, Share and Forecast, By Product Type, 2020-2026
7.2. Global Herbal Dietary Supplement Market Size, Share and Forecast, By Product Type, 2027-2033
7.3. Powders
7.4. Shakes
7.5. Tablets and Capsules
7.6. Others
8. Global Herbal Dietary Supplement Market, By End User (USD Million) 2020-2033
8.1. Global Herbal Dietary Supplement Market Size, Share and Forecast, By End User, 2020-2026
8.2. Global Herbal Dietary Supplement Market Size, Share and Forecast, By End User, 2027-2033
8.3. Hospitals
8.4. Clinics
8.5. Home Use
9. Global Herbal Dietary Supplement Market Forecast, 2020-2033 (USD Million)
9.1. Global Herbal Dietary Supplement Market Size and Market Share
10. Global Herbal Dietary Supplement Market, By Region, 2020-2033 (USD Million)
10.1. Global Herbal Dietary Supplement Market Size and Market Share By Region (2020-2026)
10.2. Global Herbal Dietary Supplement Market Size and Market Share By Region (2027-2033)
10.3. Asia-Pacific
10.3.1. Australia
10.3.2. China
10.3.3. India
10.3.4. Japan
10.3.5. South Korea
10.3.6. Rest of Asia-Pacific
10.4. Europe
10.4.1. France
10.4.2. Germany
10.4.3. Italy
10.4.4. Spain
10.4.5. United Kingdom
10.4.6. Rest of Europe
10.5. Middle East and Africa
10.5.1. Kingdom of Saudi Arabia
10.5.2. United Arab Emirates
10.5.3. Qatar
10.5.4. South Africa
10.5.5. Egypt
10.5.6. Morocco
10.5.7. Nigeria
10.5.8. Rest of Middle-East and Africa
10.6. North America
10.6.1. Canada
10.6.2. Mexico
10.6.3. United States
10.7. Latin America
10.7.1. Argentina
10.7.2. Brazil
10.7.3. Rest of Latin America
11. Company Profile
11.1. Jarrow Formulas
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. GNC
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Nature's Sunshine
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Swanson
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Rainbow Light
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Amway
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Pure Essence
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Pharmavite
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Nature's Way
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Herbalife
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links