The global herbal dietary supplements market size is expected to grow at a promising rate, fueled by the growing demand for natural health and wellness products. This information is published by Fortune Business Insight™ in an upcoming report, titled “Herbal Dietary Supplements Market, 2021-2028.“The growing consumer inclination towards naturally grown herbal supplements is driving industry leaders operating in the health and wellness industry to introduce a new line of herbal products. For example, in March 2021, Gaia Herbs launched two new products with Full Spectrum Extract 10mg and Full Spectrum Extract 20mg.
The COVID-19 pandemic has crippled economies around the world. Nationwide shutdowns in all regions have had a negative impact on businesses around the world. However, the demand for herbal ingredients has been constant amid the COVID-19 pandemic due to their ability to reduce inflammation and fight viral and bacterial infections. This has significantly boosted the market for herbal dietary supplements.
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We have categorized the market based on ingredients, form, distribution, and geography. In terms of type, the market is divided into turmeric, wheatgrass/barley, flaxseed/oil, aloe, and others. Based on the form, it is fragmented into capsules and tablets, oils, powders and granules, and others. In terms of distribution, the market is divided into hypermarkets/supermarkets, convenience stores, online stores, specialty stores and others. Finally, on the basis of geography, it is segmented into North America, Europe, South America, Asia-Pacific, Middle East and Africa.
The report incorporates competitive developments, such as expansions, mergers and acquisitions, collaborations, partnerships, agreements, and new product developments. In addition to that, it includes an in-depth analysis of the competitive landscape for big-name players. Apart from this, the report provides detailed insights of the micro markets with respect to contributions, prospects and trends.
Drivers and Constraints-
Growing awareness of health and wellness to drive growth
According to the Global Wellness Institute, the global wellness industry grew by 6.4% between 2015 and 2017 and recorded a market value of $4.5 trillion in 2018. People’s growing awareness of health and wellness wellness pushes them to add natural and minimally processed ingredients. to their diet. Growing demand for these ingredients is expected to drive the herbal dietary supplement market. Additionally, the growing spending capacity of individuals in developing economies is expected to further boost the adoption of herbal supplements.
Launch of new products in the United States to stimulate demand in North America
North America is expected to dominate the herbal dietary supplements market over the forecast period. The introduction of unique products by leading companies in the United States is expected to accelerate the demand for herbal dietary supplements in the region. For example, in 2019, BI Nutraceuticals, Inc. launched its new core ingredients at Supply Side West Expo in Las Vegas, Nevada.
Europe is expected to hold a large market share in the expected schedule. Growing adoption of herbal extracts supported by increasing elderly population in the region is expected to drive the growth of the herbal dietary supplements market in the region.
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Mergers and acquisitions to help large companies expand their product line
Major players operating in the herbal dietary supplements market are focusing on expansion strategies such as mergers and acquisitions. This will help them expand their range of herbal products. For example, in March 2021, Gaia Herbs, a leading herbal supplement brand, partnered with SALUS Haus GmbH & co. kg, a German dietary supplement company. The acquisition will help Gaia expand its portfolio of herbal products.
In March 2021, Tumrubthai Herb has announced plans to expand its services internationally. The company has filed patents for its brand in 16 countries. It plans to enter new markets through joint ventures.
In March 2019, Martin Bauer Group, one of Germany’s leading herbal products companies, announced the acquisition of BI Nutraceuticals, Inc. The acquisition will help the company improve its R&D and manufacturing areas.
A List of Major Manufacturers operating in the Aviation Headsets Market report:
- Jarrow Formulas, Inc. (USA)
- Bio Botanica, Inc. (USA)
- NOW Foods (USA)
- Ancient GreenFields Pvt Ltd. (India)
- Nature’s Bounty Co. (USA)
- Gaia Herbs (USA)
- Dawnmoringa (India)
- Archer Daniels Midland (USA)
- Naturalife Asia Co.,Ltd. (South Korea)
- Arizona Naturals (USA)
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