Global Herbal Supplements and Remedies Market Driven by Rising Receptiveness about Herbal Products Worldwide
The global market for herbal supplements and remedies has been analyzed in a recent market intelligence report by Transparency Market Research. The high adoption rate of a variety of herbal supplements and herbs-based remedies across the globe has made the global herbal supplements and remedies market highly profitable.
The report gives a detailed overview of the current state of the market, highlighting the major drivers, trends, and other factors that are expected to have a major influence on the market’s growth prospects over the period between 2015 and 2023. The report is titled “Herbal Supplements and Remedies Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.”
The key factors fuelling consumption of various herbal supplements and remedies include product innovations and the rising awareness about the numerous and long-lasting benefits of herbal medicines on human health. The market also gains impetus from the need to find a cheaper yet effective alternative to expensive healthcare services, medicines, and dietary products.
Some of the most popular herbs are products utilized for producing herbal supplements and remedies are aloe vera, garlic, Ginkgo biloba, soy, horse chestnut, echinacea, and hypericum perforatum. Herbal supplements are commonly sold in the market in forms such as tablets, pellets, capsules, teas, extracts, dried or fresh herbs, and powders.
Regionally, the market for herbal supplements and remedies in North America is the dominant regional market across the globe. The high demand for herbal supplements in the region is owing to the high and rising usage of herbal products in the production of dietary supplements and supplementary vitamins.
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The market for herbal supplements and remedies in Europe is also on the way of becoming a prominent regional market owing to the rising acceptance for herbal products among consumers and encouraging regulatory scenario. Moreover, the market for herbal supplements and remedies in Europe has also benefitted from recent acquisitions of small nutraceutical companies by major pharmaceutical companies in the region.
However, the market holds the most promising growth prospects in regions such as Latin America and South East Asia over the forecast period. Factors driving the market for herbal supplements and remedies in this region include the rising focus on the use of herbal products, increased research activities focused on the area of dietary supplements, and the increasing acceptance of herbal remedies.
The global market for herbal supplements and remedies is presently fragmented, featuring the presence of several emerging as well as established pharmaceutical and nutraceutical companies. Some of the market’s most influential companies are DSM Nutritional Products Ltd., Bio-Botanica, Inc., Martek Biosciences Corporation, ARKOPHARMA Pharmaceutical Laboratories, i-Health, Inc., The Himalaya Drug Company, Ricola AG, Natures Aid, Nutraceutical Corporation, Sundown Nutrition, and Twinlab Corporation.