Global Herbal Supplements and Remedies Market Players Look to APAC and LATAM for Greater Opportunities
In a new market research report by Transparency Market Research, readers can get acquainted with the nuances and future projections of the global herbal supplements and remedies market. The report, titled “Herbal Supplements and Remedies Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” is a holistic look at what factors are and will be influencing it in the coming years. The overall state of the market is given in terms of a segmented manner ranging within a forecast period from 2015 to 2023.
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Herbal supplements are naturally formed non-pharmaceutical and non-food substances. Their commercial value is derived from them being beneficial for human health. Herbal supplements are created using plant and herb parts and have been used as a dietary supplement through the ages. Commercial forms of herbal supplements and remedies are generally sold as powders, pills, tablets, fluid extracts, or even fresh herbs and dried herbs. The more commonly used herbs in the global herbal supplements and remedies market include horse chestnut, soy, St. John’s Wort, Gingko Biloba, garlic, Echinacea, and Aloe Vera.
One of the leading drivers for the global herbal supplements and remedies market is the increasing awareness of consumers towards the various types and forms of these supplements, leading to a high rate of adoption. Manufacturers are also focusing heavily on product innovations and the use of different herbs to prepare the right types of treatment for different patient problems. Additionally, the level of confidence among patients has also been increasing at a significant rate, allowing for an easier market penetration for most players.
A key factor of concern in the global herbal supplements and remedies market is the overall lack of regulatory guidelines. These guidelines can be used to produce quality products that are safe for consumption by the majority of the population. Modern herbal use is regulated under CGMP guidelines, but there are still several regions that do not adhere to them. This causes a false sense of security among consumers who tend to consider all natural products as safe and might fall prey to fake products and certain side effects.
From a geographical perspective, the global herbal supplements and remedies market has been consistently dominated by North America. This region has always shown a very high demand for nutritional supplements and this demand is increasing even further as time progresses. Europe has shown similar increments in its demand for herbal supplements and remedies, while Asia Pacific and Latin America are expected to be the key regional opportunities of the future. These regions, with their emerging economies and high population densities, are ripe for the introduction of herbal supplements and remedies by the globally prominent players. Additionally, a lot of these nations already have a rich history in the use of herbs which will make it easier for players to penetrate their markets.