The global herbal nutraceuticals industry represents products that are derived from natural herbs and are consumed for promoting general well-being and provide nutritional support. Herbal nutraceuticals include products such as herbal medicinal teas, herbal health supplements and extracts, personalized herbal medicine, ayurvedic herbal medicine, and traditional Chinese herbal nutraceuticals. Herbal nutraceuticals are used for various applications such as weight management, heart-health management, digestion & gut health, sports nutrition, memory cognition support, and aesthetics.

The global Herbal Nutraceuticals Market is estimated to be valued at US$ 36.28 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Growing consumer preference towards herbal nutritional supplements over chemical-based supplements is a key driver fueling the growth of the herbal nutraceuticals market. Besides, increasing traction of herbal nutraceuticals among fitness enthusiasts and athletes to boost sports nutrition is also paving opportunities for the market. With growing awareness about health benefits of herbal supplements, there is a rising demand for herbal medicines and traditional medicines across the globe which is further supporting the market growth. Furthermore, herbal nutraceuticals provide various health benefits such as improved immunity, digestive health, heart health, cognitive health, and weight management which is fostering their adoption, thereby boosting the market growth during the forecast period.

SWOT Analysis
Strength: The Herbal Nutraceuticals market has seen increased adoption globally owing to rising health awareness. The market offers products with benefits from plants and herbs which are considered more natural. There is a growing consumer preference for herbal supplements over regular medicines due to perceived fewer side effects.

Weakness: Herbal supplements are not strictly regulated like pharmaceutical drugs and their efficacy and safety is still being determined. Adverse reactions from herbs are possible when taken in excess or with other medicines. Ingredients and concentrations may vary between batches of the same product.

Opportunity: The aging global population seeking preventive healthcare presents an opportunity. Herbal supplements find increased demand for general wellness and specific health conditions like joint pain, stress, and sleep issues. Online sales and direct-to-consumer marketing of herbal nutrition products is emerging.

Threats: Stringent regulations can be introduced on herbal supplements to standardize quality and labeling. Dependence on particular geographic regions for raw materials poses supply risks. The Covid-19 pandemic impacted manufacturing and international trade in 2020.

Key Takeaways

The Global Herbal Nutraceuticals Market Size is expected to witness high growth. Regional analysis related content comprises The Asia Pacific region currently dominates the global market with the largest share. Factors such as traditional use of herbal medicine, booming retail chains, and growing health awareness in major countries like India and China are driving market growth in Asia Pacific.

Key players related content comprises Key players operating in the Herbal Nutraceuticals market are Bio Botanica, Inc, Gaia Herbs Farm, Herbochem, Nature€TMs Bounty, NUTRAMARKS, INC., Now foods, OREGON'S WILD HARVEST, Pharmaca, Pure Encapsulations, LLC, and Sydler India Pvt.

The global Herbal Nutraceuticals market size for 2023 is US$ 36.28 Bn. The market is forecast to grow at a CAGR of 7.5% during the forecast period of 2023 to 2030.

 

 

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