New Analysis from Global Industry Analysts Reveals Steady Growth in Herbal Supplements and Remedies, with Market Expected to Reach $111.6 Billion Worldwide by 2026

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SAN FRANCISCO, February 22, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report entitled “Herbal Supplements and Remedies – Trajectory and global market analysis. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.

Herbal Supplements and Remedies – FEB Report 2022

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Editing: 17; Published: February 2022
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.; Natural at sunset; NaturaLife Asia Co., Ltd. ; Nature’s Sunshine Products, Inc.; Products of Nature’s Way, LLC; New Chapter, Inc.; International Nutraceutical Society; 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. and others.
Blanket: All major geographies and key segments
segments: Product Type (Multi-Herb, Specialty Herb, Garlic, St. John’s Wort, Echinacea, Ginseng, Other Product Types)
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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ABSTRACT-

Global Herbal Supplements and Remedies Market to Reach US$111.6 billion by 2026

Herbal supplements represent dietary supplements obtained from herbs or plants that have indisputable health benefits and medicinal value. These supplements are increasingly used in the cosmetics, pharmaceutical and food industries. Known for their many health benefits, herbal supplements are gaining popularity with people’s growing focus on self-care and preventative health care. The growth of the market is propelled by a strong focus on preventative healthcare, increasing geriatric population, consumer focus on health and wellness, and increasing usage of health supplements. Rising health concerns along with increasing expenditure on preventative health products are increasing the global demand for herbal supplements. These products take advantage of the growing incidence of lifestyle-related medical conditions, such as obesity and diabetes, which are leading people to consider herbal supplements to mitigate health risks. The growth of the market is also aided by the increasing focus on personalized medications and the easy availability of herbal supplements. Factors such as side effects associated with allopathic medicines and increasing use of dietary supplements are enhancing the market growth.

Amid COVID-19 Crisis, Global Herbal Supplements and Remedies Market Estimated at US$84 billion in 2022, is expected to reach a revised size of US$111.6 billion by 2026, growing at 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 US$68.5 billion 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 seen a remarkable increase over the past few years. Specialty products are scientifically proven to be safe and effective dietary supplements for self-help focused customers.

The US market is estimated at $15.3 billion in 2022, when China is expected to reach $17.7 billion by 2026

The Herbal Supplements and Remedies Market in the United States is estimated at US$15.3 billion in 2022. The country currently accounts for an 18.5% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$17.7 billion in 2026 with a CAGR of 11% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 7.6% and 7.8% respectively over the analysis period. In Europe, Germany is expected to grow around 9% CAGR while the rest of the European market (as defined in the study) will reach US$3.9 billion at the end of the analysis period. The global herbal supplements and herbal medicine market has been mainly concentrated in the West, due to relatively high levels of health awareness and widespread and easy access to products. The ever-increasing trend to stay active and stay healthy among the older population would boost the sales in the market. Major growth factors in emerging countries include population expansion, growing trend towards healthy living among consumers, increased consumer awareness of wellness and dietary requirements, and growing demand for natural remedies.

Garlic segment to reach $5.1 billion by 2026

Garlic supplements strengthen the immune system, prevent colds, detoxify, promote general health and well-being, improve bone health, prevent infections, prevent specific nutritional deficiencies, improve athletic performance and promote longevity. Rising cases of cardiovascular disease caused by hectic life schedules is propelling the demand for garlic herbal supplements. Women over 40 also demand natural garlic supplements which help maintain a healthy heart. In the global garlic segment, United States, Canada, Japan, China and Europe will drive the CAGR of 6.9% estimated for this segment. These regional markets representing a combined market size of US$2.5 billion will reach a projected size of 4 billion US dollars at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$675.6 billion by 2026, while Latin America will grow at a CAGR of 7.6% over the analysis period. Continued

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