Herbal Nutraceuticals Market to Reach $48.44 Bn, Globally, by 2027 at 7.55% CAGR: Allied Market Research
Surge in health consciousness among the consumers and rise in number of people suffering from chronic diseases across the globe drive the growth global herbal nutraceuticals market.
PORTLAND, Ore., Sept. 3, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Herbal Nutraceuticals Market Analysis by Product Type (Ginger, Garlic, Turmeric, Aloevera, Green Tea, and Others) and Nature (Conventional and Organic), Form (Liquid, Power, Capsules & Tablets, and Others), and Sales Channel (Supermarket/Hypermarket, Pharmacy, Online Stores, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027". According to the report, the global herbal nutraceuticals industry garnered $28.32 billion in 2019, and is estimated to reach $48.44 billion by 2027, registering a CAGR of 7.55% from 2021 to 2027.
Drivers, restraints, and opportunities
Surge in health consciousness among the consumers and rise in number of people suffering from chronic diseases across the globe drive the growth global herbal nutraceuticals market. However, high cost associated with organic herbal nutraceuticals restrains the market growth. Furthermore, increase in consumer awareness regarding organic products is expected to create new opportunities during the forecast period.
Request Sample Report at : https://www.alliedmarketresearch.com/request-sample/7108
COVID-19 Scenario
- The demand for herbal nutraceutical has been surged during the Covid-19 pandemic to boost the immune system of the body to fight against the disease.
- Herbal nutraceuticals manufacturing companies have been affected up to cetain extent due to disrupted supply of raw materials amid the lockdown. Moreover, supply chain has been affected, which in turn, created a supply-demand gap.
The ginger herbal nutraceuticals segment to dominate throughout the forecast period
Based on product type, the ginger herbal nutraceuticals segment accounted for nearly one-fifth of the total share of the global herbal nutraceuticals market in 2019, and is expected to maintain its leadership status in terms of revenue throughout the forecast period. This is attributed to surge in awareness regarding health benefits of ginger in treating cough & colds, flu, and other respiratory problems. However, the green tea segment is estimated to portray the fastest CAGR of 8.8% from 2021 to 2027. The rising consumer awareness regarding the health benefits associated with the consumption of green tea and its easy availability as nutraceuticals have driven the sales of green tea.
The conventional segment held the lion's share during the forecast period
Based on nature, the conventional segment contributed to the highest market share, accounting for nearly three-fourths of the global herbal nutraceuticals market share in 2019, and is estimated to maintain its leadership position during the forecast period. This is attributed to easy availability of conventional herbal nutraceuticals coupled with their availability at lower price as compared to organic herbal nutraceuticals in the market. However, the organic segment is estimated to generate the fastest CAGR of 8.4% from 2021 to 2027. This is attributed to rise in the number of health-conscious consumers along with surge in consumer awareness regarding the health benefits of organic herbal nutraceuticals.
Europe, followed by North America, to maintain its dominant by 2027
Based on region, Europe, followed by North America, accounted for the highest share, holding for nearly one-third of the global herbal nutraceuticals market in 2019, and is projected to maintain its dominant position throughout the forecast period. This is attributed to surge in consumption of organic and natural nutraceuticals ingredients from European consumers to prevent health issues. However, Asia-Pacific is estimated to portray the fastest CAGR of 9.0% from 2021 to 2027, owing to huge demand with rise in health awareness among the consumers and the presence of a large number of herbal nutraceuticals manufacturers in the region.
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/7108
Leading market players
- Now foods
- Herbochem
- Oregon's Wild Harvest
- Gaia Herbs Farm
- Nature's Bounty
- Bio Botanica Inc.
- Herb Pharma (Pharmaca)
- Solaray
- Pure Encapsulations, LLC
- Solagar
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Similar Reports:
Meat Snacks Market: Global Opportunity Analysis and Industry Forecast, 2019–2026
Gluten-Free Products Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
Functional Food Market: Global Opportunity Analysis and Industry Forecast, 2021–2027
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting services to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): 1-800-792-5285, 1-503-894-6022, 1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
Share this article