Herbal nutraceuticals are plant or herbal-based products that are available in the form of pharmaceutical drugs, dietary supplements or functional foods. They consist of popular herbs and botanicals such as turmeric, ginger, gingko, garlic and green tea which provide health benefits beyond basic nutrition. Herbal nutraceuticals find widespread applications for general wellness, disease risk reduction, joint & bone health, digestive health, immune health among others. They are highly favored among consumers due to their natural ingredients, minimal side effects and antioxidant, anti-inflammatory and immune-boosting properties. Common product forms include tablets, capsules, powders, liquids and topicals.
The global herbal nutraceuticals market is estimated to be valued at US$ 41.8 Bn in 2024 and is expected to exhibit a CAGR of 11.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing consumer inclination towards preventive healthcare and nutritional supplements is a key driver fueling growth of the herbal nutraceuticals market. Fast-paced lifestyles, inflating income levels and growing health consciousness have nudged consumers to rely on herbal supplements for maintaining well-being and reducing disease risks. Furthermore, supportive scientific research validating therapeutic values of herbs such as turmeric, ginger and gingko biloba have added credibility to herbal nutraceutical products. The COVID-19 pandemic has also reinforced the preventive health approach, thereby elevating popularity of herbal immunity-boosting supplements. Leading manufacturers are further developing innovative delivery formats such as ready-to-drink shots, gummies and softgels to appeal to diverse consumer preferences. However, lack of strict regulations and quality control remains a major challenge for the market.
Segment Analysis
The global herbal nutraceuticals market is dominated by the dietary supplement segment which holds around 60% share of the market. Dietary supplements are considered as valuable nutritional adjuncts for maintaining or improving overall health. They contain herbal components which provide various health benefits like improved immunity, antioxidant properties, bioactive compounds etc. The probiotic & prebiotic segment is also growing at a significant rate owing to rising awareness about gut and digestive health. Probiotics promotes growth of beneficial gut bacteria while prebiotics acts as food for probiotics.
PEST Analysis
Political: Regulations regarding claims, labeling and advertising of herbal nutraceuticals are increasing globally. Standards are being developed to ensure product quality and safety.
Economic: Rising income levels and health consciousness is driving demand for herbal supplements. Rapid urbanization and busy lifestyles have increased preference for alternative medicine and functional foods.
Social: Social media influencers promote herbal nutrition as a lifestyle. Growing focus on preventive healthcare and interest in traditional remedies supports market growth.
Technological: New extraction technologies help maximize bioavailability of active compounds. Digital platforms aid product promotion while blockchain ensures supply chain transparency.
Key Takeaways
The Global Herbal Nutraceuticals Market Demand is expected to witness high growth at a CAGR of 11% during the forecast period of 2024 to 2031.
Regional analysis: Asia Pacific dominates the market and is expected to grow at fastest pace due to large consumer base, traditional usage of herbs in wellness practices and supportive government initiatives in countries like India, China, Japan etc.
Key players: Key players operating in the herbal nutraceuticals market are Pfizer-BioNTech, Moderna, Johnson & Johnson, AstraZeneca, Sanofi Pasteur, Novavax, GlaxoSmithKline (GSK), Sinovac Biotech, Sinopharm, Bharat Biotech, Emergent BioSolutions, Dynavax Technologies, CureVac, Valneva, Takeda. Pfizer, Johnson & Johnson and GlaxoSmithKlein (GSK) dominate the global market with their diversified herbal dietary supplement portfolio addressing various health conditions.
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Pcd Parma Franchise Services in chandigarh Established in the year 1998, Focus Healthcare Private Limited is a pharmaceutical company engrossed in manufacturing and supplier of pharmaceuticals, nutraceuticals and herbal products
