Herbal Supplements and Remedies: A Global Strategic Business Report
San Jose, California (PRWEB) March 12, 2013
Follow us on LinkedIn – Herbal supplements which are derived extensively from plants account for approximately 30% of the global supplements market. Working their way carefully upwards, the supplements have treaded a long path and currently play a major role in the global healthcare market. With the ‘healthy living’ fever gripping people across the world, sales of herbal supplements, especially those that enhance the overall fitness of the body, both physical and mental, are expected to be in great demand in future. In addition, herbal remedies which constitute traditional treatment methods for various ailments would help keep up the momentum for some of the age-old herbs like ginseng, aloe vera, St.John’s wort, gingko, etc.
Both industrialized as well as developing nations see herbal supplements as one of the critical contributors to the general well-being of their population. The percentage of population relying on this ‘traditional medicine’ for primary health care as well as for addressing specific health concerns is increasing by the day. The foremost factor propelling growth in herbal supplements markets worldwide is the rising interest in preventative health, while the necessity to cut costs comes next in order. Medical expenses are a huge burden for families and individuals, forcing them to seek relatively cheaper herbal medicines for various ailments. Common health concerns such as heart diseases are likely to drive consumer preferences for herbal medicines in the future. Growth prospects for herbal supplements also depend to a great extent on the media, since it plays a key role in generating or decelerating consumer interest towards the products. Scientific research and clinical trials backing claims of safety and efficacy of herbal supplements and remedies remain a critical factor in determining the long-term success of the category.
The global herbal supplements and remedies market exhibited robust growth over the decade, with little or apparently no significant decline on account of the 2008 economic recession. The market in fact exhibited steady growth during the crisis-ridden period of 2008-2009 and even beyond. The importance of healthy diet and good lifestyle dominated minds of consumers, which could not be dampened even by the financial meltdown witnessed in almost every sector worldwide. The recession has actually prompted increased preference for dietary supplements in general. Escalating prices, tighter budgets and high healthcare and lifestyle costs, have actually driven consumers towards the more economical, healthier and safer option of alternative medicine and dietary supplements to get relief from physical and mental disorders.
The market for herbal products continues to face strict regulatory environments in almost all the global regions. The stringent regulations double up as entry barriers for new companies intending to leverage the potential market. Many regions specify rigorous tests for companies prior to engaging in mass production. The industry is also being judged on the parameter of sustainability in terms of production. Sustainable production practices are what the future of this market is expected to rest on since many of the plants from which the raw materials are derived are either on the verge of extinction or are being indiscriminately cultivated without following proper sustainable production practices. On the other hand, while a few varieties are falling prey to indiscriminate cultivation, there are sometimes long-stretched shortages for a few others. However, governments in many countries are acknowledging the repercussions of such shortages and are providing ample support to safeguard the sector by promoting cultivation of such medical herbs, offering a guaranteed buy-back program and educating the cultivators in ethical harvesting.
Women form the major consumer group for herbal supplements owing to their growing health-consciousness and increased concern for diet. Manufacturers are also trying hard to meet the requirements of this group by concentrating on their attitudes, lifestyles and interests. Many post-menstrual women are widely using herbal supplements as natural remedies in the place of costlier and time consuming hormone replacement therapies. Soy is a popularly used supplement for menopausal symptoms.
Europe represents the largest market worldwide, as stated by the new market research report on Herbal Supplements and Remedies. Asia Pacific would be leading in terms of growth, exhibiting the fastest CAGR through 2018. Developing countries have been playing a key role in recent years in the supply of herbal supplements to the global market. China’s role especially has been commendable as the nation is fast growing to become one of the largest suppliers of herbal supplements to the global markets in the near future. Herbal supplements made in China already enjoy significant demand in the EU and the US.
Major players profiled in the report include Arizona Natural Products, Arkopharma SA, Bio-Botanica Inc., Blackmores Ltd., DSM Nutritional Products Ltd., Himalaya Drug Company, Indfrag Ltd., International Vitamin Corp., Natrol Inc., Natures Aid, Nature’s Answer, Nature's Sunshine Products Inc., NBTY Inc., Nutraceutical Corporation, Pharma Nord APS, Pharmavite LLC, Potters Herbal Medicines, Ricola AG, and TwinLab Corporation.
The research report titled “Herbal Supplements and Remedies: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the global as well as regional herbal supplements and remedies markets, impact of the economic recession on the markets, current market trends and issues, the regulatory environment, trends pertaining to individual product segments in the global and regional markets and a detailed product overview. The report also profiles key players operating in the global herbal supplements and remedies market and encapsulates recent product introductions and major corporate developments. The report analyzes market data and analytics in terms of dollars for the period 2010 through 2018 for major geographic regions including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, Latin-America, and Rest of World. Key product segments analyzed include Ginkgo Biloba, Garlic, Ginseng, Echinacea, St. John's Wort, Soy, Aloe Vera, Specialty Herbs, Multi-Herbs and Other Herbal Supplements (Alfalfa, Burdock, Evening Primrose, Bupleurum Falcatum, Capsaicin, Cayanne, Cinnamon, Hawthorn, Kava, Cat Claws, and other regional Herbs). Also, a six-year (2004-2009) historic analysis is provided for additional perspective.
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