The global herbal nutraceuticals market size was estimated at US$ 64 billion in 2022 and it is projected to surpass around US$ 122.98 billion by 2032, growing at a CAGR of 6.80% during the forecast period 2023 to 2032.
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The herbal nutraceuticals helped in maintaining and promoting health longevity and quality of life. It helps against acute and chronic illnesses which could be nutrition induced. The sources of herbal nutraceuticals are natural which do not have any toxins or added chemicals. Herbal nutraceuticals are also known as plant foods which may contain one or more herbs. These various nutraceuticals are available across money distribution channels which make it accessible for the customers to buy. Online stores pharmacies hypermarkets and supermarkets make the herbal nutraceuticals available for the customers. The emerging trend of strengthening the immunity due to the COVID-19 pandemic is helping in the growth of the herbal nutraceuticals market. Open nutraceuticals are used in the pharmaceutical industry, cosmetic industry, beverages and food industry. Provide many types of health benefits and help in curing some of the diseases. The intake of these herbal nutraceuticals could help in preventing chronic diseases, increase the life expectancy and slow the aging process. Double nutraceuticals market provides genetically modified supplements and foods which help in providing the necessary nutrition which is similar to the conventional foods.
Benefits of Herbal Nutraceuticals
Herbal nutraceuticals are well supported by the individuals who have an allergy to ingredients mentioned in the prescribed drugs. Herbs are recognized to have less aftereffects although they are consumed for a long period of time and enhance over wellness.These nutraceuticals aid to boost an immunity with no aftereffects and are much efficacious in offering diagnostic comfort, primarily at the time of allergies. A major benefit of these nutraceuticals is its un-costliness. These nutraceuticals are not much expensive, pocket sized, and are bought without any prescription. These nutraceuticals are easily accessible at any pharmaceutical store and need no prescription. Nutraceuticals made of chamomile, honey, amla, peppermint, licorice, basil, ginseng, turmeric, etc. are a bit famous among its consumers for the treatment of pain, cough, inflammation, flu, cold, and others. Herbal nutraceuticals derived from a medicinal plant named shatavari are employed in the treatment of problems like infertility, and the tablets made of medicinal herbs such as pepper and fenugreek are used to keep the sugar level in control. In addition, a stem of lotus plant is a good remedy for cardiovascular disease as well as Garcinia Cambogia is used to control the obesity. These nutraceuticals also help for the skin care. A few herbs have antibacterial characteristics that aid skin to fight against the bacteria and give it a sparkling shine by removing crimps and dark spots. Same as the other body parts, herbs even have a power of healing brain. A few herbal nutraceuticals are among the best to bolster cerebral capabilities of brain, and they enhance memory as well as help in curing some diseases related to brain such as Alzheimer.
Growing awareness regarding the well being and health and increased spending on health due to the rising disposable income in various emerging countries is expected to drive the demand for the herbal nutraceuticals market across the globe. Increase geriatric population and the rise in the chronic diseases will drive the demand for this market. There's a major shift towards the natural products which provide health and Wellness to the customers is driving the market. As the online platforms provide these products add good rates and there's a wide range of varieties available for selection the market shall grow. Increase to awareness amongst the customers regarding the organic products will provide opportunity for the growth of this market in terms of sales value. Herbal Nutraceuticals help in combating issues like cholesterol, digestive systems and they also help in reducing stress. Herbal nutraceuticals have a wide application in the cosmetics industry. As the customers today are understanding the benefits of the herbal products or the natural products. The herbal nutraceuticals market will grow rapidly around the world.
Report Scope of the Herbal Nutraceuticals Market
|Market Size by 2032||USD 122.98 Billion
|Growth Rate from 2023 to 2032||
CAGR of 6.80%
|Largest Market||Asia Pacific|
|Fastest Growing Region||Europe|
|Forecast Period||2023 to 2032|
|Segments Covered||Product, Form, Nature, Distribution Channel, Geography|
|Companies Mentioned||Bio Botanica, Inc, Gaia Herbs Farm, Herbochem, Pure Encapsulations, LLC, Sydler India Pvt, Herb Pharma AG, Nature’s Bounty, Now foods, Oregon's Wild Harvest, Pharmaca, Archer Daniels Midland Company, Solaray, The Nature’s Bounty, Bio Thrive Sciences|
Growing Trend of Individualized Nutrition
An individualized nutrition is the most recent trend of this market globally. The individualized nutrition market is expected to boost exponentially in the years to come. The robust growth of this market will be beneficial for the herbal nutraceuticals market, primarily for those players whose products have proven health benefits and have hallmarks of the clean label. The growth of this market primarily focuses on individual offerings of the concepts like “one size fits all”. In addition, customers are more attracted towards the provision of customization which involves diet, exercise, and supplements. Moreover, these nutraceuticals are probably to rise as critical involvement in the predictive and prophetic concept of health. The above points are projected to boost the growth of the global herbal nutraceuticals market over the next decade.
Complicated Regulation Associated with the Commercialization of the Products
Though the demand of these nutraceutical products is very high in the markets of various regions, some factors are still hampering the growth of this market. One of the most restraining factors of this market is the stringent and perplexing structure of regulations for the universalization of these products. Markets across the globe showcase minimal harmonized offerings on the structure of these items. Various government bodies should let several opinions on the components’ type.
Regulatory Framework of India for Nutraceuticals
The evolution of regulatory structure in India has done after the country established Food Safety and Standard Act in 2006. This act has brought eight existing laws to a single law which is controlled by the Food Safety and Standard Authority of India (FSSAI). The progression of regulatory framework of food items continued every year with adjustments and modifications. In 2016, regulations for functional food and nutraceuticals were introduced which is considered to be the leading light for the nutraceutical sector. Numerous benchmarks were formulated for the nutraceuticals beneath these regulations with regards to the safety measures, health claims coupled with admissible restrictions of active components for the safety and efficacy purpose.
On the basis of the product type, the turmeric supplement segment is expected to have the fastest CAGR in the forecast period. There's an increased use of turmeric in therapeutics the market for the turmeric segment is expected to grow during the forecast period. The increased awareness about the effectiveness of turmeric supplements which could be used for treating anxiety, metabolic syndrome, inflammatory and oxidative conditions, and hyperlipidemia Shell supplement the segments growth. Followed by the turmeric segment the others product segment is also expected to have a good market share during the forecast period. Oregano cinnamon and ashwagandha are the herbs that have many benefits and an awareness regarding the benefits of these herbs have increased the demand for these herbs. Health conscious consumers are demanding these herbs in order to combat occasional stress and to boost memory. The green tea segment is also expected to have a significant growth due to the increasing cases of cardiovascular diseases and obesity in many developed nations.
On the basis of the form, the Herbal Nutraceutical the capsule and tablet segment is expected to have go largest market share and it shall grow well due to the availability of various sizes and storage capacities. The preference of customers of capsules over the tablets as they provide ease of swallowing shall also help in capturing the market. The consumption of the capsules and tablets is easy as there is no measurement required. The formulation of capsules reduced the stomach discomfort. Capsules and tablets are becoming popular amongst the customers and they shall provide immense opportunity for this format of herbal nutraceuticals to grow during the forecast period.
Considerable Growth of Organic Herbal Nutraceuticals in the Years to Come
The global herbal nutraceuticals market is classified as a conventional and an organic by nature. An organic segment is anticipated to grow at the fastest rate during the forecast period. The growth of this segment is attributed to the increasing awareness of harmful impact of chemicals, fertilizers, and pesticides among the populace along with the changing preferences of customers towards these organic products like herbal nutraceuticals. These factors are also expected to augment the revenue growth trajectory of the organic segment over the forecast timeframe. Furthermore, conventional herbs comprise of Genetically Modified Organisms (GMOs), additives, and chemicals. Super easy convenience of the conventional items along with the less costs of conventional items are the factors propelling the growth of the conventional herbal nutraceuticals market across the globe.
Distribution Channel Insights
On the basis of the distribution channel, the pharmacy segment had the highest market share. Increase number of patients is visiting pharmacies and drugstores due to improvements in healthcare infrastructure and ease of availability at this stores. As pharmacies have adopted the herbal nutraceuticals and as they're providing these products for customers across many nations it shall boost the market growth. The supermarket and the hypermarket is also expected to have a good growth during the forecast period.
The Asia Pacific region what's the leading market in terms of herbal supplements in the recent years. An increased awareness among the people regarding the benefits of these supplements for health and well being is expected to help in the market grow during the forecast period. As there's a growing concern among the consumers regarding the chemical based products there shall be a boost in the growth of the herbal nutraceuticals market. The benefits provided by the nutraceuticals like improved health, combating diseases like osteoporosis shall drive the market. Technological advancements in the health care infrastructure and increased research and development by the major players in this region are expected to speed up the market growth during the forecast.
The European market is also expected to have a good growth during the forecast period. that I'm emerging key players in the Asian countries which have a strong government support for traditional and herbal products and it said drive the demand for these products during the forecast period.
Positive Impact of the Pandemic on the Global Market
The COVID-19 pandemic has had an affirmative impact on the global herbal nutraceuticals market. The reason behind the positive impact of this pandemic on the global market is the increasing consumption of the herbal nutraceuticals by the populace owing to a belief that the characteristics of herbal nutraceuticals aid to improve the immune system of an individual and also helps to fight against the deadly COVID-19 pandemic.
Key market players of the herbal nutraceuticals market
Segments covered in the report
By Product Type
By Distribution Channel
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