Herbal Supplements Market Size to Reach 94.3 Billion by 2032

Introduction

The global Herbal Supplements Market is experiencing significant growth, expected to reach USD 94.3 billion by 2032, up from USD 48.3 billion in 2022. This growth represents a compound annual growth rate (CAGR) of 7.10% from 2023 to 2032. Several factors contribute to this robust expansion. Increasing consumer interest in natural and holistic health remedies and rising disposable incomes are major growth drivers.

Herbal supplements are viewed as safer alternatives to conventional pharmaceuticals, particularly for managing chronic diseases such as diabetes and cardiovascular conditions. However, the market faces challenges such as regulatory inconsistencies and the potential for interactions with prescription medications. Despite these hurdles, there are opportunities for innovation and market expansion, particularly in developing personalized and targeted products for specific health needs like mental health and immune support.

The popularity of traditional healing systems like Ayurveda and Traditional Chinese Medicine is also on the rise, contributing to market growth. North America remains the most lucrative market, driven by high consumer awareness and favorable regulations, while Asia Pacific is emerging as a significant growth region due to increasing health consciousness and economic development.

Glanbia plc is actively involved in the herbal supplements sector through its Glanbia Performance Nutrition division, which offers a range of health and wellness products. The company focuses on developing innovative herbal supplements that cater to the growing consumer demand for natural and plant-based health solutions. Glanbia’s offerings include various herbal formulations aimed at enhancing physical performance, supporting overall health, and boosting nutritional intake. Their strategic emphasis on research and development helps them stay competitive in this fast-growing market.

Archer Daniels Midland Company (ADM) is a significant player in the herbal supplements sector, leveraging its vast expertise in agricultural processing and nutrition. ADM’s extensive portfolio includes a variety of botanical extracts and herbal ingredients used in dietary supplements. The company focuses on sustainable practices and innovative solutions to meet the rising consumer demand for natural health products. ADM’s commitment to sustainability and nutrition positions it as a key contributor to the herbal supplements industry.

Statistics

More than one in ten adults were taking herbal supplements, with evening primrose oil, the most common supplement, used mainly by women.
The most common herbal supplement was evening primrose oil, taken by 7.7% (1,186/15,465) of respondents (12.7% of women and 1.1% of men).
More than one-third of Americans take supplements.
Multivitamins or mineral supplements make up 40% of all vitamin sales.
About 30% of adults age 65 and older take 4 or more supplements of any kind.
Recently, the World Health Organization estimated that 80% of people worldwide rely on herbal medicines for some part of their primary health care.
In Germany, about 600 to 700 plant-based medicines are available and are prescribed by some 70% of German physicians. In the past 20 years in the United States, public dissatisfaction with the cost of prescription medications, combined with an interest in returning to natural or organic remedies, has led to an increase in herbal medicine use.
Nearly one-third of Americans use herbs. Unfortunately, a study in the New England Journal of Medicine found that nearly 70% of people taking herbal medicines (most of whom were well-educated and had a higher-than-average income) were reluctant to tell their doctors that they used complementary and alternative medicine (CAM).
Tinctures are typically a 1:5 or 1:10 concentration, meaning that one part of the herb is prepared with 5 to 10 parts (by weight) of the liquid. Liquid extracts are more concentrated than tinctures and are typically a 1:1 concentration. A dry extract form is the most concentrated form of an herbal product (typically 2:1 to 8:1) and is sold as a tablet, capsule, or lozenge.
In the past 10 years, the use of high-dose vitamins has grown over 130% and the use of herbal supplements has grown over 380%.
In one recent study of Chinese herbal supplements, 25% contained other contaminating substances such as pesticides.
The Department of Herbal Medicine at Kitasato University in Tokyo has reported a similar rate: 21 cases of liver damage out of 20,271 prescriptions over 9 years.

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Emerging Trends

Rise of Adaptogens and Medicinal Mushrooms: Adaptogens like ashwagandha, rhodiola, and medicinal mushrooms such as cordyceps and reishi are gaining popularity due to their stress-reducing and immune-supporting properties. These natural ingredients are being used to address modern-day issues like mental clarity, energy, and sleep support.
Focus on Gut Health: There is a growing emphasis on the role of the gut microbiome in overall health. Supplements aimed at improving gut health, including probiotics, prebiotics, synbiotics, and postbiotics, are on the rise. These products support digestion, immune function, and mental health.
Immune Health: Driven by global health concerns, there is a continued focus on immune health. Ingredients such as elderberry, vitamin C, and zinc are in high demand, with comprehensive products offering a mix of vitamins, minerals, and botanicals to support the immune system.
Personalized Nutrition: Advances in technology and data analysis are making personalized supplements more accessible. Supplements tailored to individual needs based on factors like age, lifestyle, and health goals are becoming more popular.
Innovative Delivery Methods: New ways to consume supplements, such as gummies, powders, and liquid shots, are becoming mainstream. These novel delivery methods make supplements more enjoyable and convenient, enhancing the absorption and efficacy of active ingredients.
Sustainable and Ethical Practices: Consumers are increasingly considering sustainability and ethics when choosing supplements. The demand for eco-friendly packaging, responsibly sourced ingredients, and ethical labor practices is shaping the market.
Vegan Supplements: The rise in plant-based diets is driving the demand for vegan supplements. Vegan versions of popular supplements like collagen and omega-3s are becoming more common, catering to dietary restrictions and ethical preferences.
Direct-to-Consumer (DTC) Brands: The DTC model is growing in the supplement industry, offering consumers a more direct and personalized shopping experience through online platforms. This trend is driven by the convenience and customization offered by DTC brands.

Use Cases

Immune Support: Many herbal supplements like echinacea, elderberry, and garlic are used to bolster the immune system. For example, elderberry supplements have been shown to reduce the duration of cold and flu symptoms by 3-4 days.
Mental Health and Stress Relief: Adaptogenic herbs such as ashwagandha and rhodiola help manage stress and enhance mental well-being. About 30% of Millennial and Gen Z consumers use these supplements to support mental health.
Energy and Stamina: Herbal supplements like ginseng and guarana are popular for boosting energy. Approximately 25% of supplement users globally take these to improve energy levels, especially among Millennials.
Digestive Health: Supplements containing ginger, peppermint, and probiotics support digestive health. Probiotics, in particular, have been shown to reduce symptoms of IBS by up to 50% in some studies.
Anti-inflammatory and Joint Health: Turmeric and ginger supplements are widely used for their anti-inflammatory properties, helping to reduce joint pain and inflammation, particularly among arthritis sufferers.
Skin Health: Herbal supplements with ingredients like aloe vera, biotin, and vitamin C are used for skin health. These supplements have seen a 23% CAGR globally over the past five years.

Key Players

Herbalife International of America Inc. is a leading global nutrition and weight management company that offers a wide range of herbal supplements. The company focuses on promoting healthy lifestyles through its science-backed products, including protein shakes, vitamins, and dietary supplements. Herbalife operates in over 90 countries, supporting millions of people through independent distributors who provide personalized coaching and community support. In 2023, Herbalife reported net sales of $5.1 billion, highlighting its significant presence in the global market.

Blackmores is a prominent Australian company in the herbal supplements sector, known for its commitment to natural health solutions. The company offers a variety of products, including vitamins, minerals, herbal supplements, and nutritional oils. Blackmores focuses on using high-quality ingredients and rigorous testing to ensure the efficacy and safety of its products. The company’s strong market presence in the Asia-Pacific region is bolstered by its dedication to research and development, which helps maintain its reputation for excellence in natural health solutions.

Nutraceutical International Corporation is a prominent player in the herbal supplements sector. The company focuses on manufacturing and distributing a wide range of products aimed at enhancing health and wellness. They emphasize using natural ingredients and maintain rigorous quality standards to ensure the efficacy and safety of their products. Nutraceutical International’s commitment to innovation and sustainability helps them stay competitive in the rapidly growing herbal supplements market.

NBTY Inc., known for brands like Nature’s Bounty and Solgar, is a leader in the herbal supplements market. The company has taken significant steps to ensure product quality and consumer trust by implementing advanced DNA barcoding to verify ingredient authenticity. Additionally, NBTY conducts annual allergen tests and collaborates with research institutions to enhance transparency and traceability in their supply chain.

Arizona Natural Products is renowned for its quality herbal and vitamin supplements, particularly its pioneering work with allicin-rich deodorized garlic products. The company offers unique and hard-to-find items such as EDTA, Chaparral, and Wild Bear’s Garlic, alongside symptom-specific formulas. They supply these as branded products, private labels, or bulk raw materials globally.

Ricola, a well-known brand in the herbal supplements sector, specializes in natural herb cough drops and lozenges. Utilizing a blend of 13 Swiss herbs, Ricola’s products are formulated to provide soothing relief for coughs and sore throats. The company emphasizes sustainability and high-quality herbal ingredients in its production process.

Bio-Botanica Inc. specializes in manufacturing high-quality botanical extracts for the herbal supplements sector. Their state-of-the-art facility supports extensive research and development, ensuring premium product quality. Bio-Botanica offers a wide range of botanical extracts, including custom blends and private labeling solutions for supplements and cosmetics. Their proprietary technologies, like Bio-Chelated® and Botanical Fingerprint Technology®, ensure potent and effective natural products. Additionally, Bio-Botanica emphasizes sustainability and environmental responsibility throughout its operations.

Jarrow Formulas Inc. is a leading player in the herbal supplements market, providing a broad array of high-quality products aimed at improving health and wellness. They focus on using scientifically-backed ingredients to formulate their supplements, which include vitamins, probiotics, and herbal extracts. Jarrow Formulas is known for rigorous quality control and adherence to Good Manufacturing Practices (GMP), ensuring their products’ efficacy and safety. Their commitment to innovation and customer satisfaction has established them as a trusted brand in the health supplement industry.

Conclusion

The herbal supplements market is poised for sustained growth, driven by increasing consumer awareness of natural health products and a shift towards preventive healthcare. From 2023 to 2032, the market is expected to expand at a compound annual growth rate (CAGR) of 7.10%, growing from USD 48.3 billion in 2022 to USD 94.3 billion by 2032.

This growth is supported by the rising popularity of herbal supplements for addressing lifestyle-related health issues and the aging global population seeking natural remedies. However, challenges such as regulatory hurdles and potential side effects continue to impact market dynamics. Technological advancements and innovative product offerings are expected to further fuel market expansion while growing consumer preference for eco-friendly packaging and personalized nutrition solutions are notable trends.

Sources

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