“Global Herbal Dietary Supplement Market to reach a market value of USD 18.3 Billion by 2031 growing at a CAGR of 6.9%”
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.
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.
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.
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
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.
| 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 |
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| 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) |
By End User
By Product Type
By Geography
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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