PUNE, India, December 1, 2016 /PRNewswire/ --
The report "Herbal Supplements Market by Source (Leaves, Barks, Fruits & Vegetables, and Roots), Application (Pharmaceuticals, Food & Beverage, and Personal Care), Function (Medicinal and Aroma), Form, and Region - Global Forecast to 2022", published by MarketsandMarkets, the market is projected to reach a value of USD 86.74 Billion by 2022 at a CAGR of 6.8%.
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The market is driven by factors such as demand for dietary supplements by women and young demography, and the consumer awareness for preventive healthcare measures. The high growth potential in the emerging markets and untapped regions provides new growth opportunities for market players.
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The pharmaceuticals industry is the fastest-growing segment in the Herbal Supplements Market by application during the forecast period 2016-2022
Herbal supplements find major applications in the pharmaceutical industry especially in the developed regions, This is due to the consumer's reliability in the quality and effectiveness of herbal medicines. This has encouraged pharmaceutical manufacturers to acquire small nutraceutical companies, which has led to the growth of the Herbal Supplements Market.
The function of providing medicinal properties has the largest market in the herbal supplements industry
Herbal supplements consist of natural plant ingredients that have medicinal properties. This demand is observed in both developed and developing regions of the world for healthcare purposes. It can be attributed to the efficacy, safety, and minimal to no side effects of herbal ingredients. Herbal supplements are also used for therapeutic practices such as the treatment of osteoporosis and certain immune disorders.
Significant growth for herbal supplements is observed in the Asia-Pacific region
Cultural affinity for herbalism in countries such as India and China has resulted in the Asia-Pacific region to be the fastest growing region for Herbal Supplements Market. The region is one of the major markets for the supply of herbal raw materials, which is one of the major factors driving the production of herbal supplements in the region. These supplements are also traded with developed regions, such as North America. For instance, China is one of the largest suppliers of herbal supplements to the U.S. and European markets.
The Herbal Supplements Market report includes a study of marketing and development strategies, along with the product portfolio of leading companies. It includes the profiles of leading companies such as Archer Daniels Midland Company (U.S.), Glanbia plc (Ireland), Herbalife International of America, Inc. (U.S.), Blackmores (Australia), and Nutraceutical International Corporation (U.S.).
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