The Latin America, Middle East and Africa Herbal Nutraceuticals Market would witness market growth of 13.7% CAGR during the forecast period (2020-2026). The herbal nutraceuticals are derived from natural sources and contains no added chemicals or toxins. The products are extremely effective, safe, and are more tolerable as compared to any conventional products which are available in the market. Some of the best examples of herbal nutraceuticals that are available in the market are green tea, garlic, aloe Vera, turmeric, and ginger.
Ever-increasing spending on health and wellness and growing disposable income levels, particularly in the developing nations, is expected to boost the demand for herbal supplements worldwide. The inclination for purchasing health and wellness products as compared to luxury goods among the users is rapidly rising. Herbal supplements help us in maintaining cholesterol levels, regulates our digestive system, and also reduces stress. Hence, growing awareness about the health benefits of these products is also expected to boost up the growth of the market.
Even though there isn’t any scientific or logical evidence supporting the benefits of the products; the demand for the product is constantly rising, thereby increasing the global growth of the market. In addition, the ease in availability of the products, led to the increasing demand for these products. The cost-effectiveness and better convenience of e-commerce platforms has resulted in changing preference of customers for purchasing the products via online platforms rather than traditional channels.
Based on Nature, the market is segmented into Conventional and Organic. Based on Product Type, the market is segmented into Ginger, Turmeric, Green Tea, Garlic, and Aloe Vera. Based on Distribution Channel, the market is segmented into Pharmacy, Supermarket/ Hypermarket, Online Stores and Other Channels. Based on Form, the market is segmented into Capsules & Tablets, Liquid, Powder, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Herbal Nutraceuticals Market in LAMEA is expected to register a CAGR of 13.7% during the forecast period (2020-2026)
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nestle S.A. (Pure Encapsulations, LLC), NOW Foods, Inc., The Nature’s Bounty Co. (The Carlyle Group L.P.), Gaia Herbs, Inc., Oregon's Wild Harvest, Bio-Botanica, Inc., Solaray, Inc., Herbochem and Herb Pharma AG.
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