This report provides exclusive insights into the COVID-19 impact on the Herbal Supplements Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Herbal Supplements Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Herbal Supplements Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
A recent report published by Infinium Global Research on herbal supplements market provides in-depth analysis of segments and sub-segments in global as well as regional herbal supplements market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional herbal supplements market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global herbal supplements market. According to the report the global herbal supplements market is projected to grow at a CAGR of 6.2% over the forecast period of 2018-2024.
Herbal supplements are non-pharmaceutical non-food substances marketed to improve health. Herbal supplement is made of plant-based substances, and sometimes other environmental substances, to treat or cure medical conditions. It has been used for medicinal purpose and is been used for thousands of years.
Global herbal supplements market is basically driven by various factors such as globally growing aging population, increased consumer awareness for preventative healthcare, the growing number of the self-directed or self-diagnose consumers. In addition, herbal supplement manufacturers are accessing new sales channels to reach a diverse and broad set of customers i.e. inclusion of e-commerce in medicine trade and many more factors are boosting the growth of this market. Furthermore, herbal supplements are less prone to FDA regulations which also helps to augment the market growth. Herbal supplements are less effective and thus results in delayed recovery in many medical conditions, this factor acts as a restraint for the market growth. Many medicine manufacturing companies are launching herbal medicine products as these products are less prone to side effects, thus these factors can act as a lucrative opportunity for the herbal supplements market in the near future.
On the basis of region, the global herbal supplements market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia-Pacific region dominates the global herbal supplements market and is also expected to grow at the highest CAGR during the forecast period, 2018-2024 due to growing number of health-conscious young people, growing self-diagnosis trend by young couples, increasing consumption of fast-food, which are less nutritional, growing disposable income among middle class family, personal factors, functional factors and social factors.
The report on global herbal supplements market covers segments such as source, application, function, and form. On the basis of by source the global herbal supplements market is categorized into leaves, barks, fruits & vegetables, roots, and others. On the basis of application the global herbal supplements market is categorized into pharmaceuticals, food & beverages, personal care, and others. On the basis of by function, the global herbal supplements market is categorized into medicinal, aroma and other functions. On the basis of by form the global herbal supplements market is categorized into capsules & tablets, powder, syrups, oils and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global herbal supplements market such as Archer Daniels Midland Company, Glanbia PLC, Herbalife International of America, Inc., Blackmores Limited, Nutraceutical International Corporation, NBTY, Inc., Arizona Natural Products, Ricola AG, Naturalife Asia Co., Ltd. and Bio-Botanica Inc.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global herbal supplements market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of herbal supplements market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the herbal supplements market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the herbal supplements market to understand the present and future trends in this market and formulate their strategies accordingly.