Selbyville, Delaware, Aug. 28, 2023 (GLOBE NEWSWIRE) --
The herbal nutraceuticals market is predicted to cross USD 105 billion by 2032, as reported in a research study by Global Market Insights Inc.
The market growth is driven by consumers increasingly seek natural health solutions to complement their lifestyles. The rising preference for natural ingredients in dietary supplements and health products has significantly boosted the market demand. Consumers are becoming more discerning about the potential side effects of synthetic compounds, leading them to embrace plant-based solutions that offer safer and gentler alternatives. As health & wellness consciousness continue to rise globally, consumers are proactively seeking preventive measures to maintain a balanced lifestyle. Moreover, the increasing prevalence of chronic diseases and lifestyle-related health issues has further accelerated the adoption of herbal nutraceuticals, boosting the market value.
Herbal nutraceuticals market from the functional foods segment is anticipated to witness substantial growth through 2032, as the products combine the benefits of traditional herbal remedies with modern nutritional science. They offer a holistic approach to improving various aspects of health, such as immune support, digestive health, cognitive function, and cardiovascular well-being. As consumers seek convenient ways to incorporate health-enhancing ingredients into their diets, functional foods have gained prominence. The wider accessibility and ease of consumption, along with focus among producers to continuously innovate & create functional food offerings that cater to various health concerns will continue to augment the growth of this segment.
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Herbal nutraceuticals market from the online store segment will witness remarkable growth through 2032. With the proliferation of internet and the growing inclination towards online shopping, consumers are increasingly turning to e-commerce platforms to purchase health & wellness products. The sales channel offers convenience, a wide product assortment, and the ability to compare prices and read reviews before making a purchase. Additionally, the global reach of online stores enables manufacturers to expand their customer base beyond geographical boundaries, tapping into new markets and reaching consumers in remote regions.
Asia Pacific herbal nutraceuticals market is expected to grow at a robust pace during 2023 to 2032, attributed to the increasing population. The rapidly expanding middle-class segment, and rising disposable incomes in countries like China, India, and Southeast Asian nations are driving the demand for natural health solutions. Additionally, traditional systems of medicine, such as Ayurveda and Traditional Chinese Medicine (TCM), deeply rooted in the region's culture, have contributed to the acceptance and adoption of herbal nutraceuticals. Furthermore, governmental initiatives promoting the use of traditional and natural remedies is positively swaying the market dynamics in the APAC.
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Some of the prominent contenders in the herbal nutraceuticals market are NOW Foods, Nutraceutical International Corporation, The Himalaya Drug Company, Bio Botanica, Inc., Oregon's Wild Harvest, Amway Corporation, Nutramarks, Inc., Nature's Bounty, Herbochem, Sidled India Pvt Ltd, Gaia Herbs Farm, and Pure Encapsulations, LLC, among others.
These companies are working on developing new strategies, products, mergers & acquisitions, and partnerships to drive the growth. For instance, in June 2021, Gaia Herbs announced the addition of two more delectable and handy USDA Certified Organic and Non-GMO Project Verified gummy supplements to its award-winning Turmeric Supreme® line: Adult Daily Gummies with Turmeric Supreme® and Extra-strength Turmeric Supreme® Gummies.
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Herbal nutraceuticals market 360º synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product type trends
2.1.4 Ingredients trends
2.1.5 Nature trends
2.1.6 Form trends
2.1.7 Sales channel trends
Chapter 3 Global Herbal Nutraceuticals Market Insights
3.1 Industry ecosystem analysis
3.1.1 Distribution channel analysis trends
3.1.2 Vendor matrix
3.1.3 COVID-19 impact on value chain
3.2 Raw material outlook
3.3 Regulatory landscape
3.3.1 North America
3.3.2 Europe
3.3.3 Asia Pacific
3.3.4 Latin America
3.3.5 Middle East & Africa
3.4 Technology landscape
3.5 Pricing analysis, by region
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 Middle East & Africa
3.6 Cost structure Analysis
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls and challenges
3.8 Innovation & sustainability
3.9 Growth potential analysis
3.10 Porter’s analysis
3.10.1 Supplier power
3.10.2 Buyer’s power
3.10.3 Threat of new entrants
3.10.4 Threat of substitutes
3.11 PESTEL analysis
3.12 Impact of COVID-19 on industry, by end use
3.13 Impact of Russia Ukraine war on the industry
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
