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Herbal Dietary Supplement Market Expected to Reach $21.4 Billion by 2032

 
2022
Herbal Dietary Supplement Market

Report Code : A280605

quote The herbal dietary supplements market witnessed a substantial surge in demand, for herbal dietary supplements is a reflection of the changing consumer preferences towards natural and plant-based solutions for health and wellness. As the market continues to evolve, it will be crucial for both consumers and industry stakeholders to navigate these changes responsibly and collaboratively. quote

Naga Surya Sanka - Manager
Food and Beverages at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Herbal Dietary Supplement Market," The herbal dietary supplement market size was valued at $11 billion in 2022, and is estimated to reach $21.4 billion by 2032, growing at a CAGR of 7.1% from 2023 to 2032.

Herbal dietary supplements are natural items made from plants or plant extracts that are taken to supplement the diet and improve health and well-being. These supplements frequently contain a combination of vitamins, minerals, amino acids, and other bioactive components that provide a variety of health benefits. Unlike pharmaceutical medications, herbal dietary supplements are not designed to treat, diagnose, or cure specific ailments. Instead, they are frequently utilized to improve overall health, enhance the immune system, and treat specific nutritional deficiencies. 

In recent decades, there has been a significant change in the lifestyle trend advocating a return to nature, fostering the steady growth of complementary and alternative medicine (CAM). This shift has transformed CAM into an integral aspect of everyday life, embraced by the general population for the purpose of sustaining health and preventing diseases. Recognizing CAM as a valuable yet often underestimated health resource, the World Health Organization (WHO) emphasizes its role in managing chronic lifestyle-related diseases that typically require lifelong pharmaceutical medication. These factors are anticipated to boost the herbal dietary supplement market demand.

Dietary supplements, including botanicals and nutritional products, are notably prominent and widely embraced within complementary and alternative medicine (CAM) practices. The use of herbal supplements, also referred to as herbal/botanical products or phytomedicines, has deep roots in traditional medicine across various cultures, including traditional Chinese, Ayurvedic, Kampo, Aboriginal, Te Rongoā, Unani, and diverse ethnomedicines. This reliance on medicinal plants is due to their rich repository of biologically and pharmacologically active compounds, contributing to their renowned health benefits.

Interactions between herbal dietary supplements and pharmaceutical drugs can occur in either pharmacodynamic or pharmacokinetic ways. Pharmacodynamic interactions, while less common, involve direct pharmacologic actions unrelated to changes in blood concentrations of the herb or drug. The risk of a pharmacodynamic interaction arises when an herbal supplement directly influences the mechanism of action of a co-administered drug, potentially antagonizing or exacerbating the drug's clinical effects without altering its concentration. Unlike pharmacodynamic interactions, pharmacokinetic interactions, which affect both drug concentration in the blood and pharmacologic action, are more clinically significant.

These interactions involve the movement of the drug through the body, from absorption to excretion. The risk of a pharmacokinetic interaction emerges when the herbal supplement shares the same mechanisms of absorption, distribution, metabolism, or excretion as a co-administered drug. This competition for shared mechanisms may lead to changes in the drug's concentration at the site of action. Notably, adjusting the drug's dosage is often a viable strategy to manage and counter pharmacokinetic interactions in the herbal dietary supplement market growth.

The growing awareness among consumers about the health benefits of herbal dietary supplements and their organic properties for potential disease prevention and health improvement is driving the global herbal dietary supplement market opportunities. Herbal dietary supplements represent a distinctive category that bridges the gap between pharmaceuticals and conventional food products. With established health advantages, the consumption of herbal dietary supplements is recognized for its potential in preventing diseases and promoting overall well-being.

The expanding market for herbal nutraceuticals and dietary supplements indicates a shift in consumer preferences towards minimally processed foods that offer additional nutritional benefits and organoleptic value. This review aims to provide insights into the status and challenges within the herbal dietary supplement market trends, offering recent information on the global herbal dietary supplement industry. It delves into the challenges faced in herbal dietary supplement market share, addressing the evolving landscape and consumer demands for herbal wellness solutions.

The herbal dietary supplement market forecast is segmented on the basis of product type, end user, and region. By product type, it is classified into tablets & capsules, powders, shakes, and others. By end user, it is divided into hospitals, clinics, and home use. By region, the market is analyzed across North America, Europe, Asia-Pacific, and Latin America.

The report offers a comprehensive analysis of the global herbal dietary supplement market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Key Findings of the Study

  • By product type, the tablets & capsules segment emerged as the global leader in 2022 and the powders segment is anticipated to be the fastest growing during the forecast period.
  • By end user, the home use segment emerged as the global leader in 2022 and is predicted to show the fastest growth in the upcoming years.
  • Region-wise, North America registered the highest market share in 2022 and Europe is anticipated to generate the maximum revenue during the forecast period.

The key players profiled in the herbal dietary supplement market analysis report include Rainbow Light, Nature's Way, Swanson, Pure Essence, Jarrow Formulas, GNC, Nature's Sunshine, Pharmavite, Amway, Herbalife.

 

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quote Herbal Dietary Supplement Market by End User (Hospitals, Clinics, Home Use), by Product Type (Tablets and Capsules, Powders, Shakes, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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