HERBAL NUTRACEUTICALS MARKET ANALYSIS

Market Challenges And Opportunities

Global Herbal Nutraceuticals Market Opportunities:

Growing importance of herbal products across developing countries is expected to provide significant growth opportunities. Herbs are used in herbal nutraceuticals to enhance the quality of life by providing several health benefits such as weight loss, boosting immune system and combating stress. The herbs used in herbal supplements are also known to have anti-inflammatory, antioxidant and anti-viral properties. They are also used to treat various ailments including gastrointestinal disorders cardiovascular diseases, and respiratory problems. Besides, herbs are also effective in lowering cholesterol levels and preventing heart disease.

Increased millennial population is projected to provide additional market opportunities. The shifting inclination of consumers towards herbal products and the increase in discretionary spending are fueling the growth of the market. Millennials have shown a greater preference for products that facilitate the preventive healthcare approach. In addition, the growing number of aging adults and the declining fertility rates in developed countries have led to an increased demand for herbal products.

Global Herbal Nutraceuticals Market Drivers:

Growing number of people suffering from chronic disease to augment market growth

Herbal or botanical extracts are more easily absorbed by the body and are more effective in treating various disease. They are also cheaper and easier to produce than whole herbs. Herbal extracts are used in a wide variety of health and wellness products such as supplements, drinks, and cosmetics ingredients. They are more popular in the United States, where consumers are highly health-conscious and actively seek organic ingredients in their products.

Ongoing product innovation in market to propel market growth

Key players are introducing new product in market in order to gain competitive edge. For instance, in September 2022, Pharmagreen Biotech, Inc., has announce that it has developed its first formulated nutraceutical product and is in the process of organizing the retail sales distribution channels for its new product.

Global Herbal Nutraceuticals Market Restraints:

High cost of herbal products to hinder market growth

The price of herbal and organic products are generally high when compared to conventional nutraceuticals. This is attributed to the high production cost. This in turn is expected to hamper the market growth over the forecast period.

Lack of standard regulations to restrict market growth

Herbal remedies are not as well regulated as traditional medications, and they may not have undergone the same testing as drugs approved by the Food and Drug Administration (FDA). Many studies of herbal remedies have found that the claims for them to cure or treat conditions are often unfounded. Furthermore, some of these supplements have been found to contain dangerous contaminants and heavy metals such as lead, mercury, arsenic, and cadmium.