According to our latest market study, titled "Herbal Supplements Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Form and Distribution Channel," the market is expected to grow from US$ 72 billion in 2022 to US$ 120 billion in 2028, with an estimated CAGR of 8.7% from 2022 to 2028.

Tablets, capsules, gummies, and powders containing plants like turmeric, ashwagandha, basil, elderberry, and ginger are considered herbal supplements. Herbs have a number of health advantages. They strengthen the immune system and lower the danger of viral and bacterial illnesses. Herbal supplements assist in blood sugar control, lowering the risk of diabetes, hypertension, and heart disease. Additionally, herbal pills help users sleep better and have better mental health. The demand for herbal supplements is being driven by the growing awareness of health and general wellness.

In recent years, the prevalence of certain diseases, including diabetes, heart diseases, and obesity, increased significantly due to lifestyle changes, unhealthy eating habits, and lack of physical activity. For instance, according to the Centers for Disease Control and Prevention, the prevalence of obesity in the US was 41.9% from 2017 to 2020. Thus, the health concerns of consumers have increased significantly due to the increasing prevalence of these lifestyle diseases. This has led to a high preference for health and wellness products, including herbal supplements. Moreover, herbal supplements are becoming more popular among consumers as they are natural and provide a wide range of health benefits. These factors are driving the growth of the herbal supplements market.

Ashwagandha and turmeric-based supplements are gaining huge traction among consumers due to their therapeutic and healing benefits. Supplements that contain ashwagandha as an active ingredient help boost immunity, improve sleep, reduce stress and anxiety, and improve athletic performance. Turmeric-based supplements help in fighting cancer, improve body’s metabolism, and provide healing. Thus, the rising awareness of the benefits of ashwagandha, turmeric, and other herbal supplements is driving the herbal supplements market growth.

The herbal supplement market is divided into tablets and capsules, gummies, powder, and other products based on form. The market for gummies is anticipated to expand at the greatest CAGR between 2022 and 2028. Gummies are popular among consumers because they are pleasant, nutritious, and simple to swallow. Additionally, many consumers choose gummies over other options since they become sick of taking pills. To address new consumer wants and attract new customers, manufacturers are releasing gummies made with various herbs. For instance, vegan omega gummies with ahiflower extract were recently introduced by US vegan supplement company Forest Remedies. These gummies market themselves as supporting bone, joint, skin, and heart health. As a result, people are becoming quite interested in these products.

In order to draw in a large audience of customers, manufacturers are also creating inventive supplements containing powerful botanicals. For instance, Vytanutra made its official entry into the market for dietary supplements in July 2021 with the introduction of three new formulae based on Chinese herbal lore and supported by cutting-edge vitamin and nutrient research. Three products from the recently released supplement range support immune health, ocular health, and body metabolism. They also include extracts of lycium fruit, echinacea flower, chrysanthemum flower, reishi mushroom, and astragalus root in addition to plant-based vitamins and minerals. These goods are anticipated to be extremely popular with customers, fueling the expansion of the herbal supplement market.

Nature's Bounty; Horbäach; Natural Balance; NOW Foods; Gaia Herbs Farm; Pharmavite LLC; Excel Nutritionals LLC; BIOSCHWARTZ LLC; Swanson; Carlyle Nutritionals, LLC are a few of the key players profiled in the study of the herbal supplements market. Several other major companies were analyzed in this research study to get a holistic view of the market and its ecosystem.

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