Global Herbal Supplements Market Share to reach USD 9.03 billion by 2028

Date: February 02, 2023

Global Herbal Supplements Market Share to reach USD 9.03 billion by 2028

Research analysts cite that global Herbal Supplements Market size was estimated at USD 7,179.59 million in 2022 and is likely to observe a 3.33% CAGR during the study period, thereby amassing USD 9,031.77 million by 2028.

The report on ‘Global Herbal Supplements Market’ is professionally crafted to impart knowledge about macro and micro trends of the industry. It provides a holistic overview of the current situation including the factors likely to promote growth and challenges that may hamper the progress of the business landscape during the forecast years. Furthermore, key players, mergers & acquisitions, business policies, and trending innovations are evaluated in the report.

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COVID-19 impact:

The COVID-19 had a negative impact on several industries around the world, including global herbal supplements industry. The lockdowns and restrictions on movement imposed by governments have resulted in a reduction in demand for non-essential products, including herbal supplements. Additionally, supply chain disruptions have led to a shortage of raw materials, which has caused prices to increase and availability to decrease. On the other hand, the pandemic has also led to an increase in demand for immunity-boosting products.

However, the industry is expected to pick up its pace during the upcoming years owing to successful vaccination campaigns.

Segmentation and Regional Analysis

Based on type, the industry is branched into multi-herb type and mono-herb type. With respect to the application landscape, worldwide herbal supplements market is divided into healthcare industry, pharmaceutical industry, and others.

Geographically, the key regions expected to have a significant impact on market yield during the assessment period are Asia Pacific, Europe, Latin America, Middle East & Africa, and North America.

Competitive Analysis:

Guangzhou Pharmaceuticals Corporation, JZJT, Kunming Pharmaceutical Corp., Chongqing Taiji Industry (Group) Co. Ltd., Hainan Haiyao Co. Ltd., Tianjin ZhongXin Pharmaceutical Group Corporation Ltd, , China Resources Sanjiu Pharmaceutical Co. Ltd., Yunnan Baiyao, Tasly Pharmaceutical Group Co Ltd., Beijing Tongrentang Co. Ltd., , Potter’s Herbals, Arizona Natural Resources, Pharmavite LLC, Twinlab Consolidated Corporation, Nature's Answer, Sido Muncul Tbk, Pharma Nord ApS, Herbal Africa, Dabur Ltd., Blackmores Limited, Ricola Ltd., Dr. Willmar Schwabe GmbH & Co. KG., ARKOPHARMA, Nutraceutical Group, Madaus Pharma SA, Nature's Sunshine Products Incorporated, Koninklijke DSM N.V., Weleda AG, Tsumura & Co., and NBTY Inc. are the key competitors in global herbal supplements industry.

FAQs:

How are the different segments in global herbal supplements market bifurcated by type?

A: Multi-herb type and mono-herb type are types of herbal supplements assessed in the industry report.

How are the applications in global herbal supplements market report bifurcated?

A: With respect to the application landscape, the industry is fragmented into healthcare industry, pharmaceutical industry, and others.

Which are the prominent companies influencing global herbal supplements market dynamics?

A: Guangzhou Pharmaceuticals Corporation, JZJT, Kunming Pharmaceutical Corp., Chongqing Taiji Industry (Group) Co. Ltd., Hainan Haiyao Co. Ltd., Tianjin ZhongXin Pharmaceutical Group Corporation Ltd, , China Resources Sanjiu Pharmaceutical Co. Ltd., Yunnan Baiyao, Tasly Pharmaceutical Group Co Ltd., Beijing Tongrentang Co. Ltd., , Potter’s Herbals, Arizona Natural Resources, Pharmavite LLC, Twinlab Consolidated Corporation, Nature's Answer, Sido Muncul Tbk, Pharma Nord ApS, Herbal Africa, Dabur Ltd., Blackmores Limited, Ricola Ltd., Dr. Willmar Schwabe GmbH & Co. KG., ARKOPHARMA, Nutraceutical Group, Madaus Pharma SA, Nature's Sunshine Products Incorporated, Koninklijke DSM N.V., Weleda AG, Tsumura & Co., and NBTY Inc. are the key competitors in global herbal supplements industry.

Which geographical areas are critical to global herbal supplements market revenue?

A: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa are the key regions contributing to market revenue.

What is the size of the worldwide market for herbal supplements?

A: Global herbal supplements market is anticipated to reach USD 9,031.77 million by 2028, presenting a CAGR of 3.33% during the forecast period.

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