Herbal Nutraceuticals Market Analysis

Herbal Nutraceuticals Market Analysis

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Based on ingredients, the ginger is poised to dominate the herbal nutraceuticals market due to its exceptional health benefits and versatility. Ginger's potential to alleviate digestive issues, reduce nausea, and relieve muscle pain has gained widespread recognition, prompting its integration into various nutraceutical products. Furthermore, ginger's adaptability as a spice, tea, supplement, or ingredient in food and beverages allows for easy incorporation into diverse consumer preferences. As the demand for natural and holistic remedies continues to rise, the demand for ginger containing herbal nutraceuticals is anticipated to increase, thus aiding in high segmental growth.
 

The dietary supplement segment held over 58% of the herbal nutraceuticals market share in 2022. Herbal nutraceuticals dietary supplements are derived from natural sources such as herbs, plants, and botanical extracts, making them a popular choice for those seeking natural alternatives to traditional medicines. They often contain a wide array of vitamins, minerals, and antioxidants, that can help boost the immune system, promote vitality, and improve energy levels. Additionally, these supplements are generally considered safe and have fewer side effects compared to synthetic medications.
 

Based on nature, the herbal nutraceutical market is segmented into conventional and organic. The organic segment is anticipated to witness high growth over the analysis period, owing to the rising consumer awareness regarding the harmful effects of fertilizers, pesticides and chemicals and consumers shifting towards organically produced herbal nutraceuticals. Moreover, the growing awareness of the potential side effects associated with synthetic drugs has spurred interest in organic alternatives, leading to a surge in demand.
 

The capsules & tablets segment accounted for the highest herbal nutraceuticals market share of 45% in 2022. Tablets and capsules offer convenience and ease of administration. They are portable, compact, and can be easily carried and consumed without the need for additional equipment or measuring. Moreover, tablets and capsules provide accurate dosage, ensuring precise medication delivery and reducing the risk of errors in administration.
 

The pharmacy segment was over 32% of the in the herbal nutraceuticals market share in 2022. Improvement in healthcare infrastructure, ease of availability, and surge in number of consumers visiting pharmacies and drug stores drives adoption of herbal nutraceuticals through this sales channel.
 

U.S. herbal nutraceuticals market size dominated around USD 0.082 billion in 2022, attributed to the increasing demand for natural and organic products, coupled with the rising awareness regarding health and wellness in the region. Additionally, the growing preference for preventive healthcare and the rising prevalence of chronic diseases have further fuelled the market's expansion. With advancements in manufacturing technologies and the development of novel formulations, the North America market is set to continue its impressive growth trajectory in the foreseeable future.