The herbal supplements market, in terms of value, is projected to reach around USD 86.74 Billion by 2022, at a CAGR of 6.8% from 2016 to 2022. The market for herbal supplements has been segmented on the basis of source, function, application, form, and region. The years considered for the study are as follows:

Base year � 2015

Estimated year � 2016

Projected year � 2022

Forecast period � 2016 to 2022

The objectives of the study includes:

To define, segment, and project the global market for herbal supplements

To understand the structure of the herbal supplements market by identifying its various subsegments

To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, industry-specific challenges)

To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and their contribution to the total market

Research Methodology

This report includes estimation of market sizes for value (USD million) and volume (tons). Both top-down and bottom-up approaches have been used to estimate and validate the size of the herbal supplements market and various other dependent submarkets in the overall market. Key players in the market have been identified through secondary research, such as company websites, annual reports, and their market share in their respective regions has been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and were verified through primary sources.

To know about the assumptions considered for the study, download the pdf brochure

The herbal supplements market value chain players are Archer Daniels Midland Company (U.S.), Glanbia plc (Ireland), Herbalife International of America, Inc. (U.S.), Blackmores (Australia), and Nutraceutical International Corporation (U.S.) among others. Maximum value addition of a product in the global herbal supplements industry is observed in the stages of product manufacturing. In the initial stage, the raw materials, which in this case, are the natural herb ingredients, are used for the production of herbal supplements. Value addition in the marketing and sales stages varies with key players, addressable markets, manufacturing units, and end consumers. The key companies that offer herbal supplements mainly invest in new product developments and production expansions through acquisitions and the development of new facilities.

Target Audience:

Suppliers

R&D institutes

Technology providers

Food supplements manufacturers/suppliers

Herbal supplements manufacturers/processors

Intermediary suppliers

Wholesalers

Dealers

Consumers

End users

Retailers

Scope of the Report

This research report categorizes the herbal supplements market based on source, function, form, application, and region.

Based on Source, the market has been segmented as follows:

Leaves

Barks

Fruits & vegetables

Roots

Based on Function, the market has been segmented as follows:

Medicinal

Aroma

Based on Form, the market has been segmented as follows:

Capsules & tablets

Powder

Syrups

Oils

Based on Application, the market has been segmented as follows:

Pharmaceuticals

Food & beverages

Personal care

Based on Region, the market has been segmented as follows:

North America

Europe

Asia-Pacific

RoW (Brazil, The Middle East, South Africa, and Rest of RoW)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to client-specific scientific needs.

The following customization options are available for the report:

Product Analysis

Product matrix, which gives a detailed comparison of the product portfolio of each company

Company Information

Detailed analysis and profiling of additional market players (up to five)

The global herbal supplements market has grown steadily in the last few years. The market size is projected to reach USD 86.74 Billion by 2022, at a CAGR of around 6.8% from 2016 to 2022. The growing awareness for preventive healthcare methods is the major driving factor of this market.

The global market based on sources has been segmented into leaves, barks, fruits & vegetables, and roots. The leaves segment accounted for the largest market share in 2015 as herbal supplements are largely made up of plant leaves. Leaves of herbal plants contain medicinal properties, which are extracted for the production of herbal supplements. Ginkgo biloba and Camellia sinensis (green tea) are some of the common leaf extracts used to make these supplements. The demand for herbal products in medicines, food & beverage, and cosmetics has led to the growth of the leaves segment in the market.

The global market, based on application, has been segmented into pharmaceuticals, food & beverages, and personal care. The pharmaceuticals segment accounted for the largest share of the herbal supplements market in 2015. The Latin American and Asia-Pacific regions are potential markets for herbal supplements in the pharmaceutical industry due to increased efficiency in research & development initiatives taken by manufacturers, as well as consumer preference toward herbal medications. The Asia-Pacific region is also expected to grow in the herbal drug market since consumers are demanding alternative medicinal products such as traditional Chinese and ayurvedic treatments.

In the function segment, the market has been segmented on the basis of medicinal, and aroma. The medicinal segment accounted for the largest share in 2015. The medicinal function of herbal plants have no side effects leading to its increased demand. Growth is also expected in developing regions such as Africa, which offers a considerable opportunity for growth of the herbal supplements market in developing regions due to high consumer acceptability.

On the basis of form, the herbal supplements market is segmented by capsules & tablets, powder, syrups, and oils. The capsules & tablets segment dominated the market. Consumers� preference towards capsules & tablets due to its ease in consumption has led to its growth in the market. Moreover, high growth of the pharmaceutical industry in the developing countries, such as India and China have led to the demand for capsules & tablets in the herbal supplements industry.

The herbal supplements market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. The major driver for the growth of this market include consumer reliance on the safety and efficacy of herbal products. Regulatory impact on future growth of the market is the factor restraining the market growth.

The herbal supplements market is characterized by moderate competition due to the presence of a number of large- and small-scale firms. New product launches, acquisitions, and expansions are the key strategies adopted by these players to ensure their growth in the market. The market is dominated by players such as Archer Daniels Midland Company (U.S.), Glanbia plc (Ireland), Herbalife International of America, Inc. (U.S.), Blackmores (Australia), and Nutraceutical International Corporation (U.S.). Other major players in the market are NBTY, Inc.(U.S.), Arizona Natural Products (U.S.), Ricola (Switzerland), NaturaLife Asia Co., Ltd. (Korea), and Bio-Botanica Inc. (U.S.).

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