North America Herbal Supplements Market

North America Herbal Supplements Market Size (2024 To 2029)

North America Herbal Supplements Market is expected to be worth USD 20.71 billion in 2024 and is estimated to be growing at a CAGR of 6.1%, to reach USD 27.85 billion by 2029.

Herbal Supplements are non-pharmaceutical, non-food substances that are marketed to improve health. History suggests that plants have been used for medical treatment for many centuries and such traditional medicine is still in practice today. Herbalism is recognized as a form of alternative medicine by modern medicine as the practice of herbalism is not strictly based on evidence gathered using the scientific method. Modern medicine makes use of many plant-derived compounds as the basis for evidence-based pharmaceutical drugs. The primary factors accounted for the growth of the market are growing demand for functional food, an increasingly sedentary lifestyle, increasing awareness regarding diet and healthcare as well as increasing healthcare expenditure and growing mental and health disorders. Conversely, high cost of raw materials stringent regulations and some side effects caused by herbal supplements are obstructing the growth of market.

This Research Report on North America Herbal Supplements Market is segmented and sub segmented into following categories:

North America Herbal Supplements Market - By Source:

• Leaves

• Barks

• Roots

• Fruits & Vegetables

North America Herbal Supplements Market - By Application:

• Pharmaceuticals

• Personal Care

• Food & Beverages

North America Herbal Supplements Market - By Functions:

• Medicinal

• Aroma

North America Herbal Market - By Form:

• Powder

• Syrups

• Oils

• Capsules & Tablets

North America Herbal Market - By Region:

• USA

• Canada

USA is leading the market. The presence of market leaders as well as increasing individual awareness regarding health have fuelled the dominance of USA in the market. USA is also expected to grow the fastest. Capsules and Tablets held the major share in the market in the Form segment due to their accessibility and ease of administration. Medicinal herbal supplements hold the major share in the market in terms of functions owing to their efficacy, safety and minimal side effects. Pharmaceutical applications is expected to grow the fastest due to consumer’s reliability in quality and effectiveness of the herbal medicines.

KEY MARKET PLAYERS:

key market players of North America Herbal Market are Archer Daniels Midland Company, Glanbia plc, Herbalife International of America, Inc,  Blackmores, Nutraceutical International Corporation, NBTY Inc, Arizona Natural Products, Ricola, NaturaLife Asia Co., Ltd, Bio-Botanica Inc