The size of the Europe Herbal Nutraceuticals Market is expected to be worth USD 9.84 billion in 2024 and grow at a CAGR of 6.67% from 2024 to 2029 to achieve USD 13.59 billion by 2029.
Herbal nutraceuticals are sourced from natural sources with no added chemicals or toxins. These products are more effective, safer, and more tolerable than the conventional products available on the market. It helps maintain health and promotes optimal longevity, health, and quality of life against nutrition-induced acute and chronic diseases. The Herbal Nutraceuticals market analysis is carried out on the basis of regions, key players, and segments. Herbal Nutraceuticals are products derived naturally from plants and/or their oils, seeds, berries, roots, or flowers. There are millions of species of medicinal herbs in this area. Herbal Nutraceuticals are processed naturally without the use of chemical or synthetic ingredients. Herbal Nutraceuticals have thousands of health benefits depending on the species. Plants and herbal extracts have been used medicinally for thousands of years. In recent years, as consumers move to natural and organic products, the demand for herbal ingredients is increasing rapidly around the world. Herbal Nutraceuticals are widely used in aromatherapy as they help maintain cholesterol levels, distort the system, and reduce stress. The growing elderly population with the rise in chronic diseases is driving the demand for Herbal Nutraceuticals around Europe.
The aging population and customer perception of herbal medicine are important aspects of increasing the market revenue of Herbal Nutraceuticals, and the latest technological advances in the field of medicine will drive the growth of the European herbal Nutraceuticals market. Some of the key factors contributing to the growth of the Europe Herbal Nutraceuticals market are an increased propensity for natural products, awareness of preventive care, and increased spending on health and wellness. Among consumers, the preference for health and wellness products over luxury products is increasing. Herbal Nutraceuticals help regulate the digestive system and cholesterol levels and reduce stress. Therefore, increased awareness of the health benefits these products provide is also expected to drive the Europe Herbal Nutraceuticals market development. There is no scientific evidence to support these benefits, but demand for products continues to increase, driving Europe Herbal Nutraceuticals market growth. In addition, the easy availability of these products is contributing to higher demand. When it comes to purchasing these products, the preference for e-commerce platforms over traditional distribution channels is increasing due to their profitability and greater convenience. Increased pollution, climate change, and changes in eating habits are greatly affecting human health. Additionally, increasing urbanization, busy lifestyles, and overwork lead to depression, anxiety, unhealthy weight gain, and other problems. Therefore, consumers' preference for natural ingredients is increasing. Consumers look for ingredients used in their products when they buy products like dietary supplements, food and beverages, or other products. These factors are driving the growth of the European herbal Nutraceuticals market. Additionally, a growing vegetarian population is another potential growth factor for the European herbal Nutraceuticals market. In recent years, the number of manufacturers of herbal medicines, cosmetics, and personal care products has been increasing around the region. The demand for Herbal Nutraceuticals and ingredients is expected to increase significantly in the near future. Europe Herbal Nutraceuticals market growth is accelerating as the need for supplements to promote preventive health measures and increase per capita disposable income in emerging economies around the region accelerates. Herbal Nutraceuticals help regulate the digestive system and cholesterol levels and reduce stress. These benefits are widely touted by market participants, which in turn is driving Herbal Nutraceuticals sales around Europe.
Regulatory agencies have considered Herbal Nutraceuticals as non-herbal foods, but as they are tested, there are difficult aspects related to manufacture and content. Growing consumer awareness makes it difficult for providers in the Europe Herbal Nutraceuticals market to maintain a customer base. This is because consumers are cautious about the authenticity of the product, as it can cause side effects. This is shrinking the market for Europe Herbal Nutraceuticals.
The COVID-19 pandemic has had a positive impact on the Europe Herbal Nutraceuticals market. This is due to the fact that consumers around the region are now looking for Herbal Nutraceuticals with the belief that these Herbal Nutraceuticals can boost the immune system and fight novel coronavirus disease. This, in turn, increases the European demand for herbal nutraceuticals, which has a positive impact on the growth of the European herbal Nutraceuticals market. Herbal Nutraceuticals have had a high consumer preference for herbal products during the COVID-19 outbreak because they have few or no health side effects. Also, sales of Herbal Nutraceuticals are not expected to have a significant impact during the lockdown due to increased sales of products that are beneficial to health.
This research report on the European herbal Nutraceuticals Market is segmented and sub-segmented into the following categories.
Europe Herbal Nutraceuticals Market - By Product Type:
The turmeric supplement segment is expected to post the fastest CAGR in the forecast period. The increasing importance of turmeric for therapeutic measures, along with extensive clinical studies showing the effectiveness of turmeric supplements, supplemented the growth of the segment.
Europe Herbal Nutraceuticals Market - By Form:
The capsule and tablet segment dominated the market. That factor can be attributed to ease of consumption and consumer preference for capsules and tablets due to the high growth of the pharmaceutical industry. Herbal Nutraceuticals can also contain real leaves, root powders, or extracts that can be conveniently filled in capsules. This is boosting the capsule and tablet industry.
Europe Herbal Nutraceuticals Market - By Sales Channels:
The supermarket/hypermarket market dominated the European herbal Nutraceuticals market by distribution channel in 2023.
Europe Herbal Nutraceuticals Market - By Region:
The Europe Herbal Nutraceuticals market is expected to register a profitable CAGR of 8.2%. The important growth factors in the German and French regions include increased consumption and the adoption of natural products in the countries. The region's growing consumer healthcare market is also contributing to the expansion of the Herbal Nutraceuticals industry. Increased health awareness and the increasing purchasing power of consumers are expected to drive the growth of the Herbal Nutraceuticals market in the Spanish and UK regions. Consumption of these nutraceuticals to improve health, increase lifestyle-related diseases such as osteoporosis, promote well-known medical infrastructure and technology, and increase R&D from major local players. These are several factors that are expected to accelerate the growth of the market in the German region.
KEY MARKET PLAYERS:
Major players in the Europe Herbal Nutraceuticals market include Glanbia Plc, Gaia Herbs, Naturalife Asia Co. Hay Ltd., DSM Nutritional Products AG, Nutraceutical International Corporation, Twinlab Corporation, The Himalaya Drug Company, The Archer Daniels Midland Company, Herb Pharm, LLC., Arizona Natural Products, Blackmores Ltd., Nature's Bounty Co., Herbalife International of America, Inc., Rainbow Light Nutritional Systems, Inc., Dr. Willmar Schwabe GmbH & Co. KG, Ricola AG and Bio-Botanica Inc.
Frequently Asked Questions
Some key factors driving market growth include increasing consumer awareness and preference for natural and organic products, growing interest in preventive healthcare, rising health consciousness among the aging population, and advancements in product formulations and distribution channels.
Popular herbal nutraceuticals in Europe include products based on herbs like ginseng, turmeric, echinacea, garlic, green tea, ginger, and various adaptogenic herbs. These herbs are known for their potential health benefits and are often used in supplements, teas, and functional foods.
Some emerging trends and innovations in the market include personalized nutrition, combination products targeting specific health conditions, sustainable sourcing and production practices, use of novel delivery systems (e.g., capsules, powders, liquid extracts), and integration of digital technologies for marketing and sales.
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