Herbal Extracts in Nutraceuticals Market Expected to Exceed $18.9 Billion by 2030, Reports MarkWide Research
MarkWide Research, in its latest report titled, “Herbal Extracts in Nutraceuticals Market,” forecasts significant growth in the global market for herbal extracts used in nutraceutical products. The market is projected to surpass a valuation of $18.9 billion by 2030, with an estimated compounded annual growth rate (CAGR) of 5.4% during the forecast period from 2023 to 2030. Herbal extracts, derived from a wide range of botanical sources, are increasingly recognized for their potential health benefits and applications in dietary supplements and functional foods.
The herbal extracts in nutraceuticals market is driven by the growing consumer interest in natural and plant-based solutions for health and well-being.
Key Findings from the Report:
- Botanical Diversity: The market showcases a diverse array of herbal extracts, including those from turmeric, ginseng, echinacea, and green tea, each associated with specific health-promoting properties.
- Functional Foods: Herbal extracts are being incorporated into a variety of functional foods and beverages, offering consumers convenient ways to improve their nutrition.
- Holistic Health: The convergence of traditional herbal medicine and modern science is fueling research into the potential therapeutic uses of herbal extracts.
- Global Awareness: The market for herbal extracts in nutraceuticals is expanding globally, with a growing emphasis on wellness and preventive healthcare.
Segmentation of the Herbal Extracts in Nutraceuticals Market:
The herbal extracts in nutraceuticals market is segmented based on extract type, application, end-use, distribution channel, and region.
By Extract Type:
- Turmeric
- Ginseng
- Echinacea
- Green Tea
- Others
By Application:
- Dietary Supplements
- Functional Foods and Beverages
- Herbal Remedies
- Others
By End-Use:
- Adults
- Children
- Senior Citizens
By Distribution Channel:
- Health Food Stores
- Online Retail
- Pharmacies
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Regional Insights:
- North America: North America is expected to lead the global herbal extracts in nutraceuticals market, with consumers increasingly seeking natural solutions for their dietary and wellness needs.
- Europe: Europe is witnessing substantial growth in the market, particularly in functional food applications and herbal supplements.
- Asia Pacific: The Asia Pacific region is poised for rapid expansion, attributed to the rich herbal traditions and increasing health consciousness.
- Latin America and Middle East & Africa: These regions are experiencing growth as consumers embrace the benefits of herbal extracts in their daily routines.
Competitive Landscape:
The herbal extracts in nutraceuticals market features numerous players, from established dietary supplement companies to specialized herbal extract suppliers. Leading companies are investing in research and partnerships to expand their product portfolios and cater to the evolving demands of health-conscious consumers.
Some of the prominent players in the herbal extracts in nutraceuticals market include:
- Naturex (Givaudan)
- Bio-Botanica, Inc.
- Archer Daniels Midland Company
- Nutra Green Biotechnology Co., Ltd.
- Herbal BioTech Co., Ltd.
- Indena S.p.A.
- Martin Bauer Group
- Organic Herb Inc.
- Natural Remedies Pvt. Ltd.
- Arjuna Natural Pvt. Ltd.
Future Outlook:
The global herbal extracts in nutraceuticals market is poised for substantial growth, with an expected market size of over $18.9 billion by 2030. As consumers increasingly prioritize natural and plant-based solutions for their health and wellness, herbal extracts will continue to play a vital role in the nutraceutical industry. MarkWide Research’s comprehensive report offers valuable insights into market trends, innovative product developments, scientific research, and regional opportunities, making it an indispensable resource for nutraceutical companies, retailers, and stakeholders interested in capitalizing on the growing herbal extracts market.