Herbal Supplements Global Market Report 2022 Impacting $GTEH
Major players in the herbal supplement market are Ancient Greenfields PVT LTD, Archer Daniels Midland Company, Arizona Natural Products, Bio-Botanica Inc. , Blackmores, Herbalife International of America, Inc.
June 07, 2022 05:30 ET | Source: ReportLinker
New York, June 07, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Herbal Supplements Global Market Report 2022” – https://www.reportlinker.com/p06284245/?utm_source=GNW , 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.
The global herbal supplements market is expected to grow from $9.42 billion in 2021 to $10.10 billion in 2022 at a compound annual growth rate (CAGR) of 7.27%. The growth is mainly due to the companies’ resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $13.32 billion in 2026 at a CAGR of 7.16%.
The herbal supplements market consists of sales of herbal supplements by entities (organizations, sole traders, and partnerships) that refer to supplements derived from plants that are used for improving health conditions. Herbal supplements that are generally extracted from natural raw materials such as moringa, echinacea, cohosh, turmeric, ginger, flaxseeds, and other herbs are sold in the form of capsules, tablets, powder, or liquid having certain medicinal properties.
The main forms of herbal supplements are tablets, capsules, liquids, powders, granules, and soft gels.Herbal tablet supplements are derived from plants, oils, roots, seeds, berries, or flowers and are sold in tablet form to maintain health or treat health problems.
Herbal supplements are sourced from leaves, fruits, roots, vegetables, and barks. The different applications of herbal supplements include food and beverages, pharmaceuticals, and personal care products, which are distributed through store-based and non-store-based mediums.
In 2021, 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 this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The increasing number of health-conscious consumers is significantly driving the growth of the herbal supplements market. Herbal supplements have numerous health benefits and are chemical-free.
They are used to supplement diets and cure common ailments. 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.
Companies in the herbal supplements market are increasing their investment in research and development. This trend is positively impacting the market.
For example, in February 2022, 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.
In July 2021, GenTech Holdings, a US-based company engaged in providing functional foods, acquired a 75% controlling interest in Nature Spoon LLC (Nature Soothie). With this acquisition, GenTech Holdings expanded its geographic presence and product portfolio.
The deal also gives GenTech Holdings access to a new segment of consumers. Nature Soothie is a US-based company involved in producing Nature Soothie® branded herbal supplement lollipops for children.
The countries covered in the herbal supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06284245/?utm_source=GNW
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