Herbal Supplement Market

Herbal Supplement Market Outlook (2024 to 2034)

The global herbal supplement market is set to reach a valuation of US$ 1.36 billion in 2024 and thereafter expand at a noteworthy CAGR of 8.5% to end up at US$ 3.07 billion by 2034. With growing awareness about plant-based medicines, more people are inclined toward using herbal supplements over traditional products.

Herbal supplements, intended for internal use, are products that are derived from plants, also known as botanical products, used to maintain health or treat diseases. Garlic, one of the most extensively studied herbal supplements, is widely used in complementary therapy. Research has demonstrated its hepatoprotective and antioxidant properties, making it essential in disease prevention. Increasing adoption of vegan lifestyles is contributing to market expansion.

Some of the major herbal supplements available include saw palmetto, echinacea, ginkgo biloba, black cohosh, and goldenseal. Saw palmetto is native to the southeastern United States, while echinacea originates from eastern and central North America. Both are recognized for their effectiveness in boosting immunity and metabolism. With increasing awareness, more Americans are purchasing these supplements, driving herbal supplement market growth.

Key Market Growth Drivers

• Supplements like ginger and willow bark are rich in compounds such as naproxen, which significantly helps relieve pain in people with arthritis. Turmeric has also gained popularity in recent years for managing osteoarthritis symptoms.
• Women suffering from premenstrual syndrome often take supplements like black cohosh to alleviate dysmenorrhea and menopausal symptoms. Its selective estrogen properties help mitigate these symptoms and restore the body's healthy state.
• Ginseng is commonly used to boost energy, enhance physical and mental performance, and strengthen the immune system. These beneficial compounds are found in plant roots and berries in large quantities.
• More people are using supplements to treat chronic conditions such as anxiety and sleep problems. As complaints about insomnia increase, herbal supplements are expected to become a priority.
• Potassium is a vital mineral that plays a key role in regulating blood pressure. Therefore, doctors often recommend potassium supplements for patients with high or low blood pressure.
• Elderberry is typically used to relieve headaches, nerve pain, toothaches, colds, viral infections, and constipation. This supplement is extensively used in the pharmaceutical industry to produce medicine for these ailments.
• Sometimes referred to as 'nature’s valium', valerian is a flowering plant used to make supplements. Its roots are believed to induce tranquility and a sense of calm. Athletes and many others take this supplement to relax.

Report Attribute	Detail
Herbal Supplement Market Size (2024E)	US$ 1.36 Billion
Forecasted Market Value (2034F)	US$ 3.07 Billion
Global Market Growth Rate (2024 to 2034)	8.5% CAGR
Canada Market Growth Rate (2024 to 2034)	9% CAGR
China Market Value (2034F)	US$ 336.6 Million
North America Market Share (2024E)	23.9%
East Asia Market Share (2034F)	23.1%
Key Companies Profiled	Herbalife; Blackmores; Ricola; Arkopharma; Nutraceutical International; Weleda AG; Amway; Gaia Herbs.

How are Manufacturers Leveraging Rising Preference for Health and Wellness Products?

“Health Campaigns to Raise Awareness of Health Benefits of Herbal Supplements”

Increased health and wellness expenditure is expected to boost worldwide demand for herbal supplements, especially in developing countries. Consumers are increasingly choosing health and wellness products over luxury items. Herbal supplements help control cholesterol, regulate the digestive system, and relieve stress. Consequently, manufacturers are also raising awareness of these health benefits through health campaigns. This strategy is expected to contribute to the expansion of the herbal supplement market size.

“Rising Preference for Plant-based Diets Due to Increasing Prevalence of Lifestyle Illnesses”

Food & beverage businesses are focusing on major market trends related to customer needs to develop novel goods and enhance sales throughout their whole product range. As a result, in recent years, various firms have introduced novel herbal supplement products that offer customers healthier choices. Thus, the growing inclination for plant-based diets, as well as the increased usage of herbal supplements in a variety of goods, are projected to drive the herbal supplements market over the forecast period.

Increasing incidence of lifestyle illnesses like as diabetes and obesity, as well as the expanding global geriatric population, have raised demand for dietary supplements to help individuals manage their health risks. Market players may anticipate profitable prospects as people seek organic items for their meals and general well-being, and the positive impact of important herbal supplements is sweeping the cosmetics and personal care industries. This has spurred market participants to try new formulas and develop skincare and hair care products.

In recent years, important herbal supplements have become increasingly popular in the manufacture of cosmetic products that boost hair and skin quality. Given the fast replacement of components in the highly competitive cosmetic business, market participants can collaborate with end users to ensure a steady supply of vital herbal supplements.

How Does Availability of Faux Herbal Products Impact Manufacturers?

“Prevalence of Faux Products Hurting Consumer Trust Factor”

One of the key impediments to the expansion is rising customer preference for traditional supplements that produce quick effects as compared to contemporary digestive and heart herbal supplements. Manufacturers of digestive and cardiac herbal supplements have a significant problem due to the market availability of faux herbal goods.

These are traditional herbal supplement products advertised as such because they include some herbal components. Many consumers are unable to tell the difference between herbal and conventional supplements. As a consequence, a significant number of customers choose faux herbal goods, which is a key impediment to the expansion of the digestive and cardiac supplement segments in the herbal supplements market.

Country-wise Analysis

After applying strategies and partnerships, companies are expanding their presence in various countries, including the United States, China, Canada, Japan, and South Korea. According to the report published by Fact.MR, the Japan market is forecast to expand at a remarkable CAGR of 9% from 2024 to 2034, and the country is evaluated to occupy 29.4% of the herbal supplement market share by 2034 in East Asia.

Which Demographic is Primarily Driving Sales of Herbal Supplements in the United States?

“Growing Demand for Herbal Supplements among Women Approaching Menopause”

Attribute	United States
Market Value (2024E)	US$ 144.3 Million
Growth Rate (2024 to 2034)	8.9% CAGR
Projected Value (2034F)	US$ 339.9 Million

Female customers of natural estrogen supplements for menopause have spurred rising demand for herbal supplements in the United States. Parents throughout the country are using natural vitamin C supplements for their children. Furthermore, there has been a significant increase in the number of individuals entering fitness clubs and gyms, which has boosted natural fat burner sales. These are key herbal supplement market trends in the United States.

What is Driving the Elderly Population in South Korea toward Herbal Supplements?

“Increase in Obesity Rates and Government Initiatives Promoting Lifestyle Modifications”

Attribute	South Korea
Market Value (2024E)	US$ 67.5 Million
Growth Rate (2024 to 2034)	9.3% CAGR
Projected Value (2034F)	US$ 163.7 Million

In South Korea, there has been a noticeable growth in the elderly population seeking all-natural ways to maintain health and longevity, increasing demand for natural joint and blood pressure supplements. Furthermore, South Korea's exports of herbal supplements have surged as the pharmaceutical business has grown significantly. Market expansion is driven by elderly consumers’ dependence on herbal supplements for safety and efficacy and an increase in obesity rates among this demographic, as well as government efforts and funding to promote health awareness and lifestyle modification.

Category-wise Insights

Based on form, capsules are expected to hold a market share of 27.3% in 2024. This segment is expected to expand at a CAGR of 8.3% from 2024 to 2034.

Why are Herbal Supplement Tablets So Popular?

“Tablets Have Longer Shelf Life and Resistance to Environmental Factors”

Attribute	Tablets
Segment Value (2024E)	US$ 388 Million
Growth Rate (2024 to 2034)	8.6% CAGR
Projected Value (2034F)	US$ 886.6 Million

Tablets are typically more stable than capsules, providing longer shelf life and resistance to environmental factors such as moisture and temperature. Apart from this, tablets can be easily split in precise doses. People generally think tablets are more comfortable compared to other options available in the market.

Business Rivalry

Key players in the herbal supplement industry are pursuing acquisitions and strategic partnerships. They are also adapting themselves to the evolving market trends, such as the production of nutraceutical supplements and liquid dietary supplements.

• In 2022, Herbalife introduced its meal replacement line that focuses on nutrition and is simple to consume. Products include smoothies, baked pastries, and snacks. In 2021, the business will release digestive health products with a dietary fiber compound.
• Nuvothera, in 2019, announced the introduction of a supplement project that includes micronized turmeric. The product provides certain health advantages and reduces reliance on medications.

Fact.MR provides detailed information about the price points of key herbal supplement suppliers positioned across the world, sales growth, production capacity, and speculative technological expansion in this new market report.

Key Segments of Herbal Supplement Market Research

• By Product Type :

  • Beauty Supplements
  • Bone & Joint Supplements
  • Body Building Supplements
  • Digestive & Heart Supplements
  • Supplements for Immune System
  • Brain Supplements
  • Supplements for Weight Loss
  • Others

• By Form :

  • Tablets
  • Capsules
  • Powder
  • Liquid

• By Region :

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa