Herbal Supplements Market Size, Share, Growth Analysis, By Product (Moringa, Echinacea), By Formulation (Tablets, Capsules), By Function (Medicinal, Aroma), By Consumer (Pregnant Women, Adults), By Distribution Channel, By Region - Industry Forecast 2024-2031

Global Herbal Supplements Market size was valued at around USD 85.1 billion in 2022 and is expected to rise from USD 91.7 billion in 2023 to reach a value of USD 167.3 billion by 2031, at a CAGR of 7.8% over the forecast period (2024–2031).

As the name suggests, herbal supplements are phytomedicines or botanicals products made with plants that help maintain good health and treat diseases. The herbal supplements market is witnessing substantial growth, impacted by the growing consumer awareness about natural health solutions and increasing preferences for alternative medications. The market comprises an exclusive range of products like minerals, vitamins, and plant-based extracts. The growing trend towards self-care and wellness, increasing healthcare costs, and high focus on preventive health measures are a few key drivers of the market. Nonetheless, there are a few limitations to the market growth, including quality and safety issues due to the lack of consistent clinical evidence backing the efficacy of a few supplements and regulatory and compliance concerns. Despite these restraints, the market is opportune to the growing demand for preventive health solutions and expanding market for personalized supplements due to increasing consumer focus on leading a healthy lifestyle.