Dublin, March 19, 2024 (GLOBE NEWSWIRE) -- The "Herbal Supplements Market Report by Product Type, Formulation, Consumer, and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global herbal supplements market size reached US$ 37.0 billion in 2023. The market is projected to reach US$ 64.6 billion by 2032, exhibiting a growth rate (CAGR) of 6.39% during 2023-2032
The increasing awareness of the health benefits of herbal supplements, a growing preference for natural and organic products, the rise of e-commerce platforms facilitating accessibility, the influence of traditional medicine systems, and advancement in research and development (R&D) activities are some of the factors supporting the market growth. 
The global herbal supplements market is experiencing robust growth due to an increasing awareness of the potential health benefits associated with herbal supplements. Consumers are becoming more conscious of the advantages offered by herbal remedies, ranging from improved digestion to enhanced immunity.
This is further fueled by the easy product availability on online health forums and surging product promotion by social media influencers and healthcare practitioners. People are increasingly seeking natural alternatives to synthetic drugs, driven by concerns about side effects and long-term health impacts.
Preference for natural and organic products
Another significant driver of the global herbal supplements market is the growing preference for natural and organic products. Consumers are gravitating towards items that are free from artificial additives, preservatives, and chemicals. Furthermore, the growing eco-conscious consumerism has propelled the popularity of herbal supplements, as they are often perceived as environmentally friendly and aligned with sustainable living practices. The trend towards natural and organic extends beyond dietary choices; it encompasses skincare, personal care, and overall well-being.
Burgeoning aging population
The aging population across the globe plays a pivotal role in driving the herbal supplements market owing to the heightened awareness of health and a proactive approach to maintaining well-being. Moreover, herbal supplements, known for their potential to support various aspects of health, including joint mobility, cognitive function, and cardiovascular health, appeal to the older demographic.
Seniors are increasingly incorporating herbal supplements into their daily routines as a proactive approach to maintaining their well-being, which has created a substantial consumer base for herbal supplement manufacturers, with products catering to the specific needs and concerns of an aging population.
Rise of e-commerce platforms
The rise of e-commerce platforms has revolutionized the way herbal supplements are distributed and accessed, significantly impacting the market. Online retail channels provide consumers with convenience, variety, and accessibility, driving the sales of herbal supplements. Consumers can now easily browse, compare, and purchase herbal supplements from the comfort of their homes.
The vast reach of e-commerce platforms enables herbal supplement companies to expand their market presence and reach a global audience. Moreover, the ability to read product reviews and access detailed information about herbal supplements online enhances consumer trust and transparency. E-commerce has dismantled geographical barriers, allowing consumers to access a wide range of herbal products from different regions.
Key Questions Answered in This Report
- What was the size of the global herbal supplements market in 2023?
- What is the expected growth rate of the global herbal supplements market during 2024-2032?
- What are the key factors driving the global herbal supplements market?
- What has been the impact of COVID-19 on the global herbal supplements market?
- What is the breakup of the global herbal supplements market based on the formulation?
- What is the breakup of the global herbal supplements market based on the consumer?
- What are the key regions in the global herbal supplements market?
- What are the key regions in the global herbal supplements market?
- Who are the key players/companies in the global herbal supplements market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $37 Billion |
| Forecasted Market Value (USD) by 2032 | $64.6 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
Competitive Analysis
- Ancient Greenfields PVT LTD
- A.N.P. Inc.
- Bio-Botanica, Inc.
- Gaia Herbs B.V.
- Herb-Pharm, LLC
- Jarrow Formulas, Inc.
- Now Health Group, Inc.
- Nutraceutical Corporation
- Rainbow Light Nutritional Systems, Inc.
- Solgar Inc.
Herbal Supplements Industry Segmentation:
Breakup by Product Type:
- Moringa
- Echinacea
- Flaxseeds
- Turmeric
- Ginger
- Ginseng
- Others
Breakup by Formulation:
- Tablets
- Capsules
- Liquid
- Powder and Granules
- Soft Gels
- Others
Breakup by Consumer:
- Pregnant Women
- Adult
- Pediatric
- Geriatric
Breakup by Region:
- North America
- United States
- Canada
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/wqurls
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