PUBLISHER: Grand View Research | PRODUCT CODE: 1772244
PUBLISHER: Grand View Research | PRODUCT CODE: 1772244
The global herbal supplements market size is expected to reach USD 90.24 billion by 2033, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 8.89% from 2025 to 2033. Growing geriatric population and awareness regarding preventive healthcare are expected to be the key factors driving the market. Rising healthcare expenditure is also likely to augment the market growth. Easy availability of herbal supplements owing to various strategies, such as direct selling and bundled offerings, adopted by companies will also support market growth.
Increasing awareness regarding the benefits associated with the consumption of herbal supplements is also likely to have a positive impact on the product demand. Manufacturers are focusing on product placement strategies to increase their sale across all consumer groups. For instance, the advertisements targeting children segment are focused on endorsing the use of supplements for nutritional values for healthy growth. According to the article cited by NCBI in 2013, nearly 80% of the global population relies on herbal supplements as part of primary healthcare. Thus, increasing acceptance of natural therapies and products is also propelling the market growth.