Herbal Supplements Market Size To Reach $64.2 Billion By 2030

Herbal Supplements Market Growth & Trends

The global herbal supplements market size is expected to reach USD 64.2 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 7.3% from 2024 to 2030. Growing geriatric population and awareness regarding preventive healthcare are expected to be the key factors driving the market. Rising healthcare expenditure is also likely to augment the market growth. Easy availability of herbal supplements owing to various strategies, such as direct selling and bundled offerings, adopted by companies will also support market growth.

Increasing awareness regarding the benefits associated with the consumption of herbal supplements is also likely to have a positive impact on the product demand. Manufacturers are focusing on product placement strategies to increase their sale across all consumer groups. For instance, the advertisements targeting children segment are focused on endorsing the use of supplements for nutritional values for healthy growth. According to the article cited by NCBI in 2013, nearly 80% of the global population relies on herbal supplements as part of primary healthcare. Thus, increasing acceptance of natural therapies and products is also propelling the market growth.

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Herbal Supplements Market Report Highlights

• The echinacea segment dominated the market with a share of 17.4% in 2023 attributed to the rising awareness about the benefits of echinacea, particularly its immune-boosting properties.

• Capsules secured the dominant market share in 2023 pertaining to the wide availability of herbal supplements in capsule form that offers convenience and ease of consumption in pre-measured doses.

• The adult segment dominated the market in 2023 with a share of 42.7% owing to the rising health-consciousness. With a growing awareness of the benefits of preventive healthcare, many adults have turned to herbal supplements to maintain and improve their health.

• The offline segment dominated the market in 2023. The easier availability of various herbal supplement products in offline retail and wholesale stores aids the market growth of this segment.

Herbal Supplements Market Segmentation

Grand View Research has segmented the global herbal supplements market on the basis of product, formulation, consumer, distribution channel, and region:

Herbal Supplements Product Outlook (Revenue, USD Million, 2018 - 2030)

• Moringa

• Echinacea

• Flaxseeds

• Turmeric

• Ginger

• Ginseng

• Others

Herbal Supplements Formulation Outlook (Revenue, USD Million, 2018 - 2030)

• Tablets

• Capsules

• Liquid

• Powder

• Soft Gels

• Others

Herbal Supplements Consumer Outlook (Revenue, USD Million, 2018 - 2030)

• Pregnant Women

• Adults

• Pediatric

• Geriatric

Herbal Supplements Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

• Offline

  • Pharmacies & Drug Stores

  • Hypermarkets/Supermarkets

  • Others

• Online

Herbal Supplements Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Herbal Supplements Market

• Jarrow Formulas, Inc.

• Solgar, Inc.

• Nature’s Bounty

• Ancient GreenFields PVT LTD

• Gaia Herbs

• NOW Foods