Herbal supplements are natural non-pharmaceutical products which improve health or increase immunity. They are available commercially in the form of capsules, tablets, gels, teas or powders. They can be used by people of various age groups like infants, adolescents or even adults for various reasons varying from health related to beauty concerns. The drivers for this market are increasing awareness of people about side-effects of artificial stuff and supplements and growing inclination towards natural products. Also, increasing prices of pharmaceutical and lifestyle products have made shifted the consumers towards cheaper and healthier alternative of natural supplements. The market is currently estimated to be around $XX billion in 2015 and increasing at a CAGR of XX% and projected to reach $XX billion by 2021.
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The global herbal supplements market has been analyzed with respect to different parameters such as demand, supply, end-users and providers of natural ingredients. Herbal supplements market is categorized by formulation and by application. On the basis of formulation the market is be categorized into tablets, syrups, oil and powder. On the basis of application market is categorized into agriculture, pharmaceuticals, dietary supplements, food & beverages and animal feed.
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The overall market is also presented from the perspective of different geographic regions and the key countries in each region. North America is the dominant market due to increasing prices of medicinal products and growing awareness of the people about the side effects of artificial supplements in the long run. In the APAC region, India is the leading suppliers due to higher availability of natural raw materials and lower costs of production of the supplements.
The dynamics of this market are highly dependent on price fluctuations in source industries and prospects of end-use industries. Major companies operating in this market include Himalaya Drug Company (India), Bio-Botanica Inc. (U.S.), Arizona Natural Products Inc. (U.S.), Emami Ltd (India), Sundown Nutrition (U.S.), Pharmaton Natural Health Products (Germany), and Blackmores Ltd. (Australia).
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