Global Herbal Supplements and Remedies
Market: Overview
Herbs and
plants are being extensively used for their medicinal properties since time
immemorial. A large section of the global population is switching to herbal
supplements due to their added health benefits. Herbal supplements or
botanicals are natural non-pharmaceutical and non-food substances that are
commercialized in the market to improve health.
The demand
for herbal supplements is increasing due to their ‘natural’ label. Consumers
are opting for herbal supplements to improve their health. Subsequently,
increased prices of medicinal and dietary products have led to the growth of
the global herbal supplements and remedies market.
In the
report, Transparency Market Research (TMR) provides a detailed analysis of
drivers and restrictions in the global
herbal supplements and remedies market. It also delivers insight to the
various segments and regions of the market.
Global Herbal Supplements and Remedies Market: Drivers and
Restraints
An
increasingly sedentary lifestyle thus far is pushing consumers to lead a
healthy life. The number of mental and health disorders are multiplying. More
and more individuals are now looking at alternatives that are safer, healthier,
and economical. Herbal supplements are gaining prominence due to increased
awareness among consumers.
Globally,
herbal supplements have slowly and steadily gained the confidence of consumers.
They are ready to include herbal supplements in their daily dietary regime and
this in turn has led to the growth of the market. In addition, high healthcare costs,
inactive lifestyle, tighter government budgets, and increasing prices of
medicinal and dietary products have driven consumers to shift to more
economical options such as herbal supplements. To get long lasting relief from
physical and mental disorders, herbal remedies are proving to be the safest
alternative.
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Recently,
with the introduction of Current Good Manufacturing Practices (CGMP)
regulations by the U.S. FDA, the herbal supplement and remedies market in the
U.S. had been booming and enjoying no regulation policies. The stringent
regulatory policy is now applicable to herbal supplements as well and is one of
the major factors limiting the market growth. Product availability and
acceptance, forms of delivery, and product pricings are some other factors that
might negatively affect the overall size of this industry.
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Herbal
supplements claim to be natural; however, this might not be true always. There
can be various harmful side effects and thus it is always recommended to use
these products after a thorough consultation with an herbalist or a physician.
Global Herbal Supplements and Remedies Market: Regional Outlook
Geographically,
North America accounts for the leading share in the global market.
Supplementary vitamins and dietary supplements in this region use herbal
products in high quantity, thus making it the dominant segment. Europe follows
suit and is another promising region for herbal supplements and remedies.
Higher consumer acceptance rate for herbal products and welcoming legislation,
plus acquisitions of small nutraceutical companies by established
pharmaceutical companies, have played a crucial role in aiding market growth in
Europe.
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Asia
Pacific and Latin America are two regions that have contributed immensely
toward the market growth. Countries such as China, India, Malaysia, and
Singapore are expected to boost the demand for herbal supplements owing to
increased focus on using herbal products, a rise in research activities on
dietary supplements, and growing acceptance rate for herbal remedies.
Companies Mentioned in the Report
The key
players in the global herbal supplements and remedies market include Sundown
Nutrition, Twinlab Corporation, Martek Biosciences Corporation, Natures Aid,
DSM Nutritional Products Ltd., i-Health, Inc., Nutraceutical Corporation,
Ricola AG, Bio-Botanica, Inc., ARKOPHARMA Pharmaceutical Laboratories, and The
Himalaya Drug Company.
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