HERBAL NUTRACEUTICALS MARKET ANALYSIS

Regional Analysis

Global Herbal Nutraceuticals Market: Regional Insights

Based on geography, the global herbal nutraceuticals market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is expected to dominate the global herbal nutraceuticals market over the forecast period owing to the rising prevalence of chronic disease with increasing geriatric population. Moreover, growing awareness regarding the health benefits of herbal products is also expected to propel regional market growth. The North America herbal nutraceuticals market was valued at $7,790.7 million in 2019, and is projected to reach $12,450.8 million by 2027, growing at a CAGR of 6.6% from 2021 to 2027. The ginger was the highest contributor with $1,206.6 million in 2019, and is estimated to reach $1,765.8 million by 2027, registering a CAGR of 5.5%.

The herbal nutraceuticals market is growing at a significant rate in Europe, due to increasing focus of European population toward a healthy lifestyle. The Europe herbal nutraceuticals market was valued at $8,697.2 million in 2019, and is projected to reach $13,613.5 million by 2027, growing at a CAGR of 6.4% from 2021 to 2027. The ginger was the highest contributor with $1,407.4 million in 2019, and is estimated to reach $2,012.6 million by 2027, registering a CAGR of 5.1%. The green tea is estimated to reach $1,881.8 million by 2027 at a CAGR of 7.7%. The Ginger and Garlic segments collectively accounted for around 31.5% share in 2019, with the former constituting around 16.2% share.

Figure 1. Global Herbal Neutraceutical Market, By Region 2023

• North America: U.S. and Canada
• Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
• Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
• Rest of World