Herbal Dietary Supplement Market

Global Herbal Dietary Supplement Market Size, Share & Trends Analysis Report By End User (Home Use, Clinics, and Hospitals), By Product Type (Tablets & Capsules, Powders, Shakes, and Others), By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-23562 Publication Date: July-2024 Number of Pages: 175
2023
USD 10.9 Billion
2031
USD 18.3 Billion
CAGR
6.9%
Historical Data
2020 to 2022

“Global Herbal Dietary Supplement Market to reach a market value of USD 18.3 Billion by 2031 growing at a CAGR of 6.9%”

Analysis of Market Size & Trends

The Global Herbal Dietary Supplement Market size is expected to reach $18.3 billion by 2031, rising at a market growth of 6.9% CAGR during the forecast period.

Europe has a long tradition of herbal medicine dating back centuries, with practices rooted in indigenous knowledge and traditional healing systems. This cultural heritage has fostered acceptance and familiarity with herbal remedies among European consumers. Thus, the Europe market acquired 42% revenue share in the market 2023. There is a strong emphasis on health and wellness in Europe, leading consumers to seek natural and holistic approaches to healthcare. Increasing awareness of the benefits of herbal supplements, including their potential to support immunity, manage stress, and promote overall well-being, drives demand.

Herbal Dietary Supplement Market Size - Global Opportunities and Trends Analysis Report 2020-2031

Consumers are increasingly aware of the potential health risks of synthetic chemicals and additives in conventional products. This awareness leads them to seek natural and organic alternatives, considered safer and healthier options.

Additionally, there is a growing shift towards preventive healthcare, where individuals seek to maintain their health and well-being through proactive measures rather than reactive treatments. Herbal dietary supplements are perceived as natural, preventive solutions that support overall health and vitality. Therefore, increasing health awareness and wellness trends propels the market’s growth.

However, many herbal supplement ingredients are sourced from plants with specific growing seasons. Climate conditions, environmental factors, and agricultural practices can impact the quantity and quality of harvested raw materials annually. Hence, the limited availability of raw materials hinders the market’s growth.

Driving and Restraining Factors
Herbal Dietary Supplement Market
  • Preference for natural and organic products
  • Increasing health awareness and wellness trends
  • Rising prevalence of chronic diseases globally
  • Lack of scientific evidence
  • Limited availability of raw materials
  • Favorable government regulations and support
  • Impact of aging population worldwide
  • Quality and safety concerns
  • Competition from synthetic supplements

Product Outlook

On the basis of product type, the is segmented into powders, shakes, tablets & capsules, and others. The tablets & capsules segment recorded 38% revenue share in the market in 2023. Tablets and capsules are convenient forms of delivery that offer ease of consumption.

Herbal Dietary Supplement Market Share and Industry Analysis Report 2023

End User Outlook

Based on end user, the market is segmented into clinics, hospitals, and home use. The clinics segment attained 35% revenue share in the market in 2023. Clinics and healthcare providers are increasingly integrating herbal supplements into holistic treatment plans.

Free Valuable Insights: Global Herbal Dietary Supplement Market size to reach USD 18.3 Billion by 2031

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the North America region generated 28% revenue share in the market. The North American sports nutrition and dietary supplements industry is expanding, with athletes and fitness enthusiasts incorporating herbal supplements into their routines.

Herbal Dietary Supplement Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 10.9 Billion
Market size forecast in 2031 USD 18.3 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 6.9% from 2024 to 2031
Number of Pages 175
Number of Tables 270
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered End User, Product Type, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Amway Corporation, Jarrow Formulas, Inc., Nature's Sunshine Products, Inc., Herbalife International, Inc., Nature's Way Products LLC (Dr. Willmar Schwabe GmbH & Co. KG), Pure Essence Labs, GNC Holdings, LLC (Harbin Pharmaceutical Group), Pharmavite LLC (Otsuka Pharmaceutical Co., Ltd.), Renew Life Formulas, LLC. (The Clorox Company) and Swanson Health Products, Inc. (Swander Pace Capital)
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List of Key Companies Profiled

  • Amway Corporation
  • Jarrow Formulas, Inc.
  • Nature's Sunshine Products, Inc.
  • Herbalife International, Inc.
  • Nature's Way Products LLC (Dr. Willmar Schwabe GmbH & Co. KG)
  • Pure Essence Labs
  • GNC Holdings, LLC (Harbin Pharmaceutical Group)
  • Pharmavite LLC (Otsuka Pharmaceutical Co., Ltd.)
  • Renew Life Formulas, LLC. (The Clorox Company)
  • Swanson Health Products, Inc. (Swander Pace Capital)

Herbal Dietary Supplement Market Report Segmentation

By End User

  • Home Use
  • Clinics
  • Hospitals

By Product Type

  • Tablets & Capsules
  • Powders
  • Shakes
  • Others

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Frequently Asked Questions About This Report

This Market size is expected to reach $18.3 billion by 2031.

Preference for natural and organic products are driving the Market in coming years, however, Lack of scientific evidence restraints the growth of the Market.

Amway Corporation, Jarrow Formulas, Inc., Nature's Sunshine Products, Inc., Herbalife International, Inc., Nature's Way Products LLC (Dr. Willmar Schwabe GmbH & Co. KG), Pure Essence Labs, GNC Holdings, LLC (Harbin Pharmaceutical Group), Pharmavite LLC (Otsuka Pharmaceutical Co., Ltd.), Renew Life Formulas, LLC. (The Clorox Company) and Swanson Health Products, Inc. (Swander Pace Capital)

The expected CAGR of this Market is 6.9% from 2024 to 2031.

The Home Use segment is leading the Market, by End User in 2023; thereby, achieving a market value of $7.4 billion by 2031.

The Europe region dominated the Market, by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $7.4 billion by 2031.

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