Australia & New Zealand’s Herbal Supplements Market to Reach US$ 760.9 Mn by 2025

Balancing diets of the common people continues to be a top priority of governments witnessing an alarming rise in food-related disorders. Some regions are augmenting their staple foods while others are adopting new edible products in their nutritionally deficient diets. On the same lines, the demand for herbal supplements is also on an upsurge. Herbal supplements taken as medications are helping consumers become more resilient to generic diseases, which is incidentally prompting companies to increase their production. In Australia and New Zealand, the demand for herbal supplements is also expected to gain traction in the years to come. Persistence Market Research’s report on Australia & New Zealand’s herbal supplements market projects that by the end of 2025, a little over US$ 760 Mn will be amassed in revenues.

According to the report, titled “Herbal Supplements Market: Australia & New Zealand Industry Analysis and Forecast, 2017-2025,” the market is expected to bring in US$ 434.9 Mn by the end of 2017. In the eight-year forecast period, the herbal supplement revenues in Australia & New Zealand will have soared at an impressive 7.2% CAGR. The region’s rich dietary culture and growing per capita healthcare expenditure will continue to favor the growth of its herbal supplements market. Increasing demand for herbal supplements to strengthen one’s immunity and a sizeable population of baby boomers are two crucial factors driving the sales of herbal supplements in Australia and New Zealand.

Moreover, the consumers in this region are also actively aware of new products entering their market, particularly the ones with functional benefits. In 2016, more than US$ 150 Mn worth of herbal supplements were sold as tablets across Australia and New Zealand. The demand for herbal supplements in form of capsules and liquid products will continue to remain relatively high, registering a value CAGR of 7% and over. Demand for powdered herbal supplements will remain relatively less towards the end of forecast period.

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In addition to this, increasing application of herbal supplements in production of beauty & cosmetic care products is also driving the market’s growth. However, over 20% of Australia and New Zealand’s herbal supplements sales through 2025 will be emanating from sales of digestive & heart supplements. Prevalence of cardiovascular diseases among the region’s demographics will continue to boost the sales of herbal supplements. Revenues amassed from sales of bone & joint supplements are also expected to soar robustly, surpassing US$ 100 Mn towards the end of 2025.

The report has profiled leading manufacturers of herbal supplements across Australia and New Zealand. Companies such as Deep Blue Health (NZ) Co. Limited, Phytomed, NZ Herbals, Blackmores Limited, Vitaco Holdings Limited, Bioglan, Integria Healthcare and Sanderson are key players partaking in the growth of Australia and New Zealand’s herbal supplements market.

Herbal Supplements and Remedies Market: The Biggest Trends to Watch out for 2015-2023

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.

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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.

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.

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.

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.

Global Herbal Supplements and Remedies Market Players Look to APAC and LATAM for Greater Opportunities

In a new market research report by Transparency Market Research, readers can get acquainted with the nuances and future projections of the global herbal supplements and remedies market. The report, titled “Herbal Supplements and Remedies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” is a holistic look at what factors are and will be influencing it in the coming years. The overall state of the market is given in terms of a segmented manner ranging within a forecast period from 2015 to 2023.

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Herbal supplements are naturally formed non-pharmaceutical and non-food substances. Their commercial value is derived from them being beneficial for human health. Herbal supplements are created using plant and herb parts and have been used as a dietary supplement through the ages. Commercial forms of herbal supplements and remedies are generally sold as powders, pills, tablets, fluid extracts, or even fresh herbs and dried herbs. The more commonly used herbs in the global herbal supplements and remedies market include horse chestnut, soy, St. John’s Wort, Gingko Biloba, garlic, Echinacea, and Aloe Vera.

One of the leading drivers for the global herbal supplements and remedies market is the increasing awareness of consumers towards the various types and forms of these supplements, leading to a high rate of adoption. Manufacturers are also focusing heavily on product innovations and the use of different herbs to prepare the right types of treatment for different patient problems. Additionally, the level of confidence among patients has also been increasing at a significant rate, allowing for an easier market penetration for most players.

A key factor of concern in the global herbal supplements and remedies market is the overall lack of regulatory guidelines. These guidelines can be used to produce quality products that are safe for consumption by the majority of the population. Modern herbal use is regulated under CGMP guidelines, but there are still several regions that do not adhere to them. This causes a false sense of security among consumers who tend to consider all natural products as safe and might fall prey to fake products and certain side effects.

From a geographical perspective, the global herbal supplements and remedies market has been consistently dominated by North America. This region has always shown a very high demand for nutritional supplements and this demand is increasing even further as time progresses. Europe has shown similar increments in its demand for herbal supplements and remedies, while Asia Pacific and Latin America are expected to be the key regional opportunities of the future. These regions, with their emerging economies and high population densities, are ripe for the introduction of herbal supplements and remedies by the globally prominent players. Additionally, a lot of these nations already have a rich history in the use of herbs which will make it easier for players to penetrate their markets.

Global Herbal Supplements and Remedies Market Players Look to APAC and LATAM for Greater Opportunities

In a new market research report by Transparency Market Research, readers can get acquainted with the nuances and future projections of the global herbal supplements and remedies market. The report, titled “Herbal Supplements and Remedies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” is a holistic look at what factors are and will be influencing it in the coming years. The overall state of the market is given in terms of a segmented manner ranging within a forecast period from 2015 to 2023.

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Herbal supplements are naturally formed non-pharmaceutical and non-food substances. Their commercial value is derived from them being beneficial for human health. Herbal supplements are created using plant and herb parts and have been used as a dietary supplement through the ages. Commercial forms of herbal supplements and remedies are generally sold as powders, pills, tablets, fluid extracts, or even fresh herbs and dried herbs. The more commonly used herbs in the global herbal supplements and remedies market include horse chestnut, soy, St. John’s Wort, Gingko Biloba, garlic, Echinacea, and Aloe Vera.

One of the leading drivers for the global herbal supplements and remedies market is the increasing awareness of consumers towards the various types and forms of these supplements, leading to a high rate of adoption. Manufacturers are also focusing heavily on product innovations and the use of different herbs to prepare the right types of treatment for different patient problems. Additionally, the level of confidence among patients has also been increasing at a significant rate, allowing for an easier market penetration for most players.

A key factor of concern in the global herbal supplements and remedies market is the overall lack of regulatory guidelines. These guidelines can be used to produce quality products that are safe for consumption by the majority of the population. Modern herbal use is regulated under CGMP guidelines, but there are still several regions that do not adhere to them. This causes a false sense of security among consumers who tend to consider all natural products as safe and might fall prey to fake products and certain side effects.

From a geographical perspective, the global herbal supplements and remedies market has been consistently dominated by North America. This region has always shown a very high demand for nutritional supplements and this demand is increasing even further as time progresses. Europe has shown similar increments in its demand for herbal supplements and remedies, while Asia Pacific and Latin America are expected to be the key regional opportunities of the future. These regions, with their emerging economies and high population densities, are ripe for the introduction of herbal supplements and remedies by the globally prominent players. Additionally, a lot of these nations already have a rich history in the use of herbs which will make it easier for players to penetrate their markets.

Global Herbal Supplements and Remedies Market Driven by Rising Receptiveness about Herbal Products Worldwide

The global market for herbal supplements and remedies has been analyzed in a recent market intelligence report by Transparency Market Research. The high adoption rate of a variety of herbal supplements and herbs-based remedies across the globe has made the global herbal supplements and remedies market highly profitable.

The report gives a detailed overview of the current state of the market, highlighting the major drivers, trends, and other factors that are expected to have a major influence on the market’s growth prospects over the period between 2015 and 2023. The report is titled “Herbal Supplements and Remedies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.”

The key factors fuelling consumption of various herbal supplements and remedies include product innovations and the rising awareness about the numerous and long-lasting benefits of herbal medicines on human health. The market also gains impetus from the need to find a cheaper yet effective alternative to expensive healthcare services, medicines, and dietary products.

Some of the most popular herbs are products utilized for producing herbal supplements and remedies are aloe vera, garlic, Ginkgo biloba, soy, horse chestnut, echinacea, and hypericum perforatum. Herbal supplements are commonly sold in the market in forms such as tablets, pellets, capsules, teas, extracts, dried or fresh herbs, and powders.

Regionally, the market for herbal supplements and remedies in North America is the dominant regional market across the globe. The high demand for herbal supplements in the region is owing to the high and rising usage of herbal products in the production of dietary supplements and supplementary vitamins.

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The market for herbal supplements and remedies in Europe is also on the way of becoming a prominent regional market owing to the rising acceptance for herbal products among consumers and encouraging regulatory scenario. Moreover, the market for herbal supplements and remedies in Europe has also benefitted from recent acquisitions of small nutraceutical companies by major pharmaceutical companies in the region.

However, the market holds the most promising growth prospects in regions such as Latin America and South East Asia over the forecast period. Factors driving the market for herbal supplements and remedies in this region include the rising focus on the use of herbal products, increased research activities focused on the area of dietary supplements, and the increasing acceptance of herbal remedies.

The global market for herbal supplements and remedies is presently fragmented, featuring the presence of several emerging as well as established pharmaceutical and nutraceutical companies. Some of the market’s most influential companies are DSM Nutritional Products Ltd., Bio-Botanica, Inc., Martek Biosciences Corporation, ARKOPHARMA Pharmaceutical Laboratories, i-Health, Inc., The Himalaya Drug Company, Ricola AG, Natures Aid, Nutraceutical Corporation, Sundown Nutrition, and Twinlab Corporation.