In today’s dynamic world, more people are moving towards natural remedies to maintain their health. Recently, herbal supplements extracted from various plants have gained popularity for their potential health benefits. This blog unveils their benefits and explores the potential of the herbal supplements market.
What Are Herbal Supplements?
Herbal supplements are one type of dietary supplement made from plants and/or their oils, roots, seeds, berries, or flowers that are used to treat diseases or to maintain health. For many years, people have been using herbal supplements due to their healing properties. While some people go for herbal medicines to certain prescription drugs, others may combine them with both prescription and over-the-counter medicines.
What Are the Forms of Herbal Supplements?
Herbal supplements are available in different forms and may be used internally or externally. The forms of herbal products include:
- Tablets
- Capsules
- Powders
- Teas
- Extracts
- Fresh
- Dried plants
- Bath salts
- Ointments
What Are Some Common Herbal Supplements and Their Uses?
There are many herbal supplements with numerous applications. Here are a few of the most typical.
- Aloe Vera: used externally for burns, psoriasis, and osteoarthritis. Used orally for digestive issues such as gastritis or constipation.
- Turmeric: used to support joint health, reduce inflammation, aid digestion, and boost the immune system.
- Black cohosh: used to treat hot flashes, night sweats, vaginal dryness and menopausal symptoms.
- Flaxseed: used to lower cholesterol.
- Garlic: used to support cardiovascular health and lower cholesterol levels.
- Chamomile: used to treat sleeplessness, anxiety, upset stomach, gas, and diarrhea.
- Peppermint oil: used to treat digestion problems such as nausea, indigestion, stomach problems, and bowel conditions
- Soy: used to treat menopausal symptoms, memory problems, and high cholesterol levels.
- Tea tree oil: used externally to treat several conditions, including acne, athlete’s foot, nail fungus, wounds, infections, cold sores, and dandruff.
What Is the Expected Market Size?
According to Polaris Market Research, the global herbal supplements market generated USD 56.1 billion in 2017 and is anticipated to reach USD 137.3 billion by 2026, generating a CAGR of 10.8% during the forecast period. This expected growth can be attributed to the rising use of functional foods and growing disposable income. Customers’ growing desire to maintain their health, the surge in the elderly population, and growing consumer awareness of preventative healthcare is driving the herbal supplements market growth. Furthermore, the rising retailers’ shift towards online platforms is one of the crucial factors contributing to the market expansion.
Segmentation Analysis by Source, Application, and Distribution Channel
- By Source: The leaves segment witnessed the major herbal supplements market share in 2017 due to its high medicinal properties and rising demand for herbal supplements from the pharmaceutical sector.
- By Application: The pharmaceutical segment held the largest application segment in 2017.
- By Distribution Channel: The offline stores segment accounted for the highest market share in 2017 due to the increasing presence of supermarkets and hypermarkets in developing regions of Asia and Latin America.
To Conclude
North America holds the largest revenue share in the herbal supplements market due to the increase in the obese and geriatric population in this region. Leading players are introducing innovative products in the herbal supplements industry to cater to the growing demand for consumers.
Global key players are entering new markets in developing regions to expand their customer base, strengthen their market presence, and increase their market share. As consumers seek holistic approaches to health and explore traditional remedies, the market continues to flourish. However, though herbal supplements offer promising benefits, consumers should research thoroughly and consult professionals before making decisions.