The latest research report by Zion Market Research (ZMR) states that the global herbal supplement market is representing an enormously aggressive business environment with the magnetism of numerous dominant players. Some of the major firms have been investing in product innovation and technological advancement. These initiatives are helping in maintaining their quality standards to continue their dominance in the global herbal supplement market. Numerous key players operating in the global herbal supplement market are Arizona Natural Products, Archer Daniels Midland Company, Blackmores, Bio-Botanica Inc., Herbalife International of America Inc., Glanbia PLC, Nutraceutical International Corporation, Naturalife Asia Co. Ltd., the Nature’s Bounty Co., and Ricola.
Herbal medicines involve various herbal supplements, herbal preparations, herbs, and complete herbal products. The herbal supplement is supposed to be a kind of dietary supplement prepared from natural plants. The global herbal supplement market is estimated to see a large rise in the upcoming period. The global herbal supplement market is principally propelled by the increasing requirement for the herbal supplements. A worldwide rise in the healthcare expenditures is supposed to boost the global herbal supplement market in the upcoming period. Towering costs of drugs, medical devices, and hospital care have triggered to raise the health care cost, which has propelled the global herbal supplement market. The increasing awareness of preventive health care techniques is also a key driving factor for the global herbal supplement market.
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Based on the source, the global herbal supplement market is categorized into barks, leaves, roots, and fruits & vegetables. Amongst all the source types, leaves segment from the global herbal supplement market was the biggest expanding segment in the global herbal supplement market for 2016. This segment in the global herbal supplement market accounted for the major market share in terms of profits. Generally, the herbal supplements are prepared using plant leaves. Some herbal supplements are prepared using leaf extracts. These natural contents in the herbal products have lead to their consistent requirement in the global herbal supplement market. Others sources such as fruits & vegetables, barks, and roots also are estimated to boost the global herbal supplement market in the upcoming period.
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Based on application, the global herbal supplement market is segmented into food & beverages, pharmaceuticals, and personal care. Amongst all the applications, the pharmaceutical segment from the global herbal supplement market is the principal application segment. Pharmaceutical segment from the global herbal supplement market had occupied the utmost CAGR from 2016 to 2022. The R&D in the global herbal supplement market provides enormous business opportunities for the key players.
Based on the function, the global herbal supplement market is bifurcated into aroma and medicinal. Both of them are supposed to be the leading segments in the global herbal supplement market. In 2016, amongst these two segments in the global herbal supplement market, the medicinal segment demonstrated the highest market share.
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This report segments the global herbal supplement market as follows:
- Fruits & vegetables
- Food & beverages
- Personal care
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
This review is based on a report by Zion Market Research titled “Herbal Supplement Market by source (Leaves, Barks, Fruits & vegetables, Roots); by Application (Pharmaceuticals, Food & Beverages, Personal care); by Function (Medicinal, Aroma): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2022.”- Report at http://www.zionmarketresearch.com/report/herbal-supplement-market
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