The Asia Pacific Herbal Nutraceuticals Market would witness market growth of 12.7% CAGR during the forecast period (2020-2026).
Nutraceuticals products are one of the supplements that have numerous health benefits and are used for improvement in health, delay the process of aging, prevent chronic diseases, increase life expectancy, and support the functioning of the body. These include vitamins, yogurts and fortified breakfast cereals, even genetically modified foods and supplements like Omega-3 fatty acids, Green tea, etc. Functional foods, phytochemicals and few nutritional supplements give nutritional or dietary value as similar to natural food. The common use of these supplements is in food & beverages, personal care, and pharmaceuticals.
Increasing acceptance of these products by aging people and the rising prevalence of lifestyle-associated diseases are some of the main impacting factors that are accelerating the growth of the market for herbal supplements. As per the report by the World Health Organization (WHO), an estimation of around 250 000 to 500 000 vitamin A-deficient kids become sightless every year. Hence, the consumption of the herbal nutraceuticals by vitamins deficient children will surely boost up the market growth in the forecast period.
China has the largest revenue share in the Asia Pacific in the year 2019. This growth has been also attributed to the higher reliance on traditional medicines, improved geriatric population, and the occurrence of chronic conditions. Accessibility of a wide variety of these products in this country also contributes to its expansion and enhancement. Growing cases of lifestyle diseases due to the westernization of diets and other things, an increase in consumption of alcohol and tobacco, and also reduced physical activities will further drive the local market.
Based on Nature, the market is segmented into Conventional and Organic. Based on Product Type, the market is segmented into Ginger, Turmeric, Green Tea, Garlic, and Aloe Vera. Based on Distribution Channel, the market is segmented into Pharmacy, Supermarket/ Hypermarket, Online Stores and Other Channels. Based on Form, the market is segmented into Capsules & Tablets, Liquid, Powder, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Nestle S.A. (Pure Encapsulations, LLC), NOW Foods, Inc., The Nature’s Bounty Co. (The Carlyle Group L.P.), Gaia Herbs, Inc., Oregon’s Wild Harvest, Bio-Botanica, Inc., Solaray, Inc., Herbochem and Herb Pharma AG.
Scope of the Study
Market Segments covered in the Report:
By Product Type
• Green Tea
• Aloe Vera
By Distribution Channel
• Supermarket/ Hypermarket
• Online Stores
• Other Channels
• Capsules & Tablets
• South Korea
• Rest of Asia Pacific
• Nestle S.A. (Pure Encapsulations, LLC)
• NOW Foods, Inc.
• The Nature’s Bounty Co. (The Carlyle Group L.P.)
• Gaia Herbs, Inc.
• Oregon’s Wild Harvest
• Bio-Botanica, Inc.
• Solaray, Inc.
• Herb Pharma AG.
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