Pune, India-based Sandler Research forecasts that the global herbal supplements market will grow at a CAGR of 6.29% during the period 2016-2020. The report says that the drivers facilitating this growth are the growing awareness of the benefits of dietary supplements especially among women, and the increase of herbal supplements among adults.
Key players in this market are: Gaia Herbs, Herb Pharm, Nature’s Bounty, Nutraceutical, and Rainbow Light Nutritional Systems. Other well-known vendors are: Arizona Natural Products, Arkhopharma, Bio-Botanica, Blackmores, i-Health, Megafood, New Chapter, Pharma Nord APS, Pharmavite, Ricola USA, Solgar, and Sundown Nutrition.
PR Newswire reports that the demand for herbal supplements is fueled by the increase in healthcare expenses globally due to the rising prices of drugs, medical devices, and hospital care. In 2015, Europe dominated the global herbal supplements market with a market share of around 45%. The growing number of e-commerce and retail stores, coupled with a rise in the older population, is expected to boost growth in the herbal supplements market in Europe during the forecast period.
