HERBAL NUTRACEUTICALS MARKET ANALYSIS

Herbal Nutraceuticals MarketSize and Trends

The global herbal nutraceuticals market size was valued at US$ 33.75 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 7.5% from 2023 to 2030. The herbal nutraceuticals market is gaining traction as key players are focusing on the development of functional foods and herbal extracts for prevention and management of viral infections such as coronavirus. The e-commerce sector continues to grow at a rapid pace, offering manufacturers with a platform to expand their market reach and boost product uptake. Moreover, growing awareness regarding the benefits of herbal supplements among consumers is again supporting the growth of the market. Manufacturers in the herbal nutraceuticals market are also investing heavily in research and development projects to find innovative approaches and develop a wider range of herbal products.

Global Herbal Nutraceuticals Market Trends:

Growing trend of organic products

Consumers are shifting towards organic and natural ingredients, due to growing concerns over the harmful effects of chemical pesticides, fertilizers, and other chemicals on human health. Additionally, the increasing number of chronic diseases and a shift in lifestyles are fueling the demand for these products. Moreover, the increasing popularity of herbal supplements among people with weight-related problems is again boosting the demand for these products. This is primarily due to their ability to help lose weight without the need for rigorous exercise or diet control.

Growing popularity of consumer health products

Herbal nutraceuticals can be consumed to improve overall health, increase life expectancy, and slow down the aging process. Herbal nutraceuticals are made from plants and contain various medicinal properties. They are a popular alternative to pharmaceutical medicines and help maintain cholesterol levels, regulate the digestive system, and reduce stress.