SAN FRANCISCO, December 8, 2021 / PRNewswire / – A new market study released by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Herbal Supplements and Remedies – Global Market Trajectory and Analysis”. The report presents new perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 16; Posted: October 2021
Executive pool: 1487
Companies: 362 – Players covered include Arizona Natural Products; ARKOPHARMA Laboratories Company Limited; Bio-Botanica, Inc .; Bionorica SE; Blackmores Ltd .; Gaia Herbs, LLC; Glanbia plc; Herbal pharmacy, LLC; Herbalife International of America, Inc .; Hevert Arzneimittel GmbH & Co KG; Himalayan Welfare Society; i-Health, Inc .; Indfrag Biosciences Private Limited; Jemo-pharm A / S; Natures Aid Ltd .; Nature’s Bounty, Inc .; Solgar Inc .; Sundown Naturals; NaturaLife Asia Co., Ltd. ; Nature’s Sunshine Products, Inc .; Nature’s Way Products, LLC; New Chapter, Inc .; International nutraceutical company; Pharma Nord ApS; Pharmavite LLC; Potter’s herbs; PuraPharm International (HK) Ltd. ; Rainbow Light Nutritional Systems, Inc .; Ricola SA; Schaper & Brümmer GmbH & Co. KG; Twinlab Consolidated Holdings, Inc. et al.
Blanket: All major geographies and key segments
Segments: Product type (multi-herbs, specialty herbs, garlic, St. John’s wort, echinacea, ginseng, other types of products)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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Global Herbal Supplements and Remedies Market To Reach 111.6 billion US dollars by 2026
Herbal supplements represent food supplements obtained from herbs or plants that have clear health benefits and medicinal value. These supplements are seeing increasing applications in the cosmetic, pharmaceutical, and food and beverage industries. The growth of the global market is driven by the trend of preventive healthcare. Market growth is propelled by a strong focus on preventative healthcare, increasing geriatric population, consumer focus on health and wellness, and increasing adoption of health supplements. Growing health concerns along with increasing spending on preventative health products are increasing the global demand for herbal supplements. These products take advantage of the increasing number of lifestyle-related medical issues, such as obesity and diabetes, that are causing people to consider herbal supplements to mitigate health risks. The growth of the market is also aided by the increasing attention to personalized medicines and the easy availability of herbal supplements. Factors such as side effects associated with allopathic drugs and increasing use of dietary supplements are driving the growth of the market.
Amid the COVID-19 Crisis, the Global Herbal Supplements and Remedies Market is estimated at 64.5 billion US dollars in 2020, is expected to reach a revised size of 111.6 billion US dollars by 2026, with a CAGR of 9.3% over the analysis period. Multi-Herbs, one of the segments analyzed in the report, is expected to grow at a CAGR of 10.3% to reach 68.5 billion US dollars at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the specialty herbs segment is readjusted to a revised CAGR of 8.6% for the next 7 year period. This segment currently accounts for a 9.8% share of the global herbal supplements and remedies market. The market for specialty herbal supplements has experienced a remarkable increase in recent years. Specialty products are scientifically proven to be safe and effective dietary supplements for self-help clients.
The US market is estimated at $ 14 billion in 2021, when China is expected to reach $ 17.7 billion by 2026
The market for herbal supplements and remedies in the United States is estimated at US $ 14 billion in 2021. The country currently represents an 18.5% share of the global market. China, the world’s second-largest economy, is expected to reach an estimated market size of US $ 17.7 billion during the year 2026, with a CAGR of 11% during the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 7.6% and 7.8% respectively during the analysis period. In Europe, Germany is expected to grow by around 9% CAGR while the rest of the European market (as defined in the study) will reach 3.9 billion US dollars at the end of the analysis period. The global herbal supplements and herbal medicine market has been primarily concentrated in the West, owing to relatively high levels of health awareness and widespread and easy access to products. The ever increasing desire to stay active and healthy among the older population would drive sales in the market. The main growth factors in emerging countries include population expansion, growing trend towards healthy living among consumers, increased consumer awareness of well-being and dietary requirements, and growing demand for natural remedies.
Garlic segment to reach $ 5.1 billion by 2026
Garlic supplements boost the immune system, prevent colds, detoxify, promote general health and wellness, improve bone health, prevent infections, prevent specific nutritional deficiencies, improve athletic performance, and support fitness. longevity. Growing cases of cardiovascular disease caused by hectic life schedules are driving the demand for herbal garlic supplements. Women over 40 also demand natural herbal garlic supplements that help maintain a healthy heart. In the global garlic segment, United States, Canada, Japan, China and Europe will drive the estimated 6.9% CAGR for this segment. These regional markets representing a combined market size of US $ 2.5 billion in 2020 will reach a projected size of US $ 4 billion at the end of the analysis period. China will remain among the most dynamic of this group of regional markets. Led by countries such as Australia, India, and South Korea, the market of Asia Pacific should reach US $ 675.6 billion by 2026, while Latin America will increase at a CAGR of 7.6% throughout the analysis period. Following
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