Herbal Supplements Market Strategies and Share 2031
The herbal supplements market is expected to grow from US$ 72 billion in 2022 to US$ 120 billion by 2031, with an estimated CAGR of 8.7% from 2022 to 2031.
Herbal supplements comprise tablets, capsules, gummies, powder, and extracts that are made from herbs such as ashwagandha, basil, turmeric, elderberry, and ginger. These supplements support the overall health and well-being of consumers by catering to specific health requirements. Herbs have immense health benefits. They boost immunity, support heart health, promote skin and hair health, and improve joint and bone health. Further, herbal supplements improve body’s metabolism and control blood sugar levels. They also increase hemoglobin levels, preventing the risk of anemia. There is a rise in demand for herbal supplements due to increasing health concerns of consumers. This factor is driving the herbal supplements market growth.
MARKET DYNAMICS
In recent years, health awareness among people has increased significantly. Due to people’s busy lifestyles and hectic work schedules, people cannot concentrate on their health, fitness, and regular diet. This has increased the prevalence of obesity, diabetes, high blood pressure, skin problems, digestive issues, and other diseases. Therefore, people are increasingly focusing on preventive healthcare products and prefer dietary supplements that provide enhanced nutritional benefits. Herbal supplements are natural and provide a large number of health benefits. Consuming herbal supplements improve immune health and provide an anti-microbial effect that helps prevent the risk of various disease and infections. Thus, the rising health awareness among consumers and the rising importance of regularly consuming herbal supplements are driving the growth of the herbal supplements market. However, some side effects such as constipation, abdominal pain, yellowish stools, and others of herbal supplements containing curcumin may restrain its adoption among consumers, hindering the market growth.
MARKET SCOPE
The "Global Herbal Supplements Market Analysis to 2031" is a specialized and in-depth study of the herbal supplements market with a special focus on the global market trend analysis. The report aims to provide an overview of the herbal supplements market with detailed market segmentation. It provides key statistics on the status of leading market players and offers major trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global herbal supplements market is bifurcated into form and distribution channel. Based on form, the market is segmented into tablets & capsules, gummies, powder, and others. Based on distribution channel, the market is segmented into supermarkets & hypermarkets, specialty stores, online retail, and others.
The global herbal supplements market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report covers an analysis and forecast of 18 countries globally along with current trends and opportunities prevailing in these regions.
Asia Pacific dominated the herbal supplements market in 2021. The market growth is majorly attributed to the rising health awareness among consumers and the increasing importance of consuming herbal supplements. Since ancient times, herbs have been used as medicines in Asian countries such as India and China. Ayurveda and traditional Chinese medicines are the most ancient traditions in the world. Moreover, consumers are becoming increasingly concerned regarding their health and wellness due to the growing prevalence of various diseases and infections. All these factors are driving the growth of the herbal supplements market across the region. Also, rising healthcare expenditures, changing dietary habits, and an increase in per capita incomes are a few of the key factors supporting the growth of the herbal supplements market across the region.
The report analyzes the factors, such as drivers, restraints, opportunities, and future trends, that impact the herbal supplements market. It also provides an exhaustive Porter's five forces analysis, highlighting the factors influencing the market in these regions.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic has had a mixed impact on the overall herbal supplements supplements market. The imposition of lockdown temporarily discontinued various manufacturing activities, resulting in a decrease in supply, which substantially impacted the herbal supplements market. In addition, the transportation of raw materials experienced many difficulties due to travel restrictions, which adversely impacted the global economy.
Consumers are becoming highly concerned about their health and fitness as a response to the impacts of the COVID-19 pandemic, which has dramatically increased the demand for immunity-boosting health supplements. Consumers are also focusing on all-natural and herbal products as they perceive them to be more effective and healthier than conventional pharmaceutical drugs, which has created a huge demand for herbal supplements.
In 2021, the marketplace witnessed growth as governments of various countries announced relaxation in several restrictions, including lockdowns. The manufacturers resumed their operations at full capacity, which helped them in overcoming the demand and supply gap. Many manufacturers expanded their production capacities to meet the rising consumer demand for herbal supplements.
E-commerce played a significant role during the COVID-19 pandemic as the shutdown of brick-and-mortar stores compelled consumers to purchase various products via online platforms. The sales of pharmaceutical drugs and supplements increased through online stores and e-pharmacies as these platforms provided home delivery services even during lockdowns. Consumers are expected to continue purchasing herbal supplements through online portals, which is further expected to favor the growth of the herbal supplements market during the forecast period.
Shejal Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any. 
Have a question?
Speak to Analyst
The global herbal supplements market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The report covers an analysis and forecast of 18 countries globally along with current trends and opportunities prevailing in these regions.
Asia Pacific dominated the herbal supplements market in 2021. The market growth is majorly attributed to the rising health awareness among consumers and the increasing importance of consuming herbal supplements. Since ancient times, herbs have been used as medicines in Asian countries such as India and China. Ayurveda and traditional Chinese medicines are the most ancient traditions in the world. Moreover, consumers are becoming increasingly concerned regarding their health and wellness due to the growing prevalence of various diseases and infections. All these factors are driving the growth of the herbal supplements market across the region. Also, rising healthcare expenditures, changing dietary habits, and an increase in per capita incomes are a few of the key factors supporting the growth of the herbal supplements market across the region.
The report analyzes the factors, such as drivers, restraints, opportunities, and future trends, that impact the herbal supplements market. It also provides an exhaustive Porter's five forces analysis, highlighting the factors influencing the market in these regions.
IMPACT OF COVID-19 PANDEMIC
The COVID-19 pandemic has had a mixed impact on the overall herbal supplements supplements market. The imposition of lockdown temporarily discontinued various manufacturing activities, resulting in a decrease in supply, which substantially impacted the herbal supplements market. In addition, the transportation of raw materials experienced many difficulties due to travel restrictions, which adversely impacted the global economy.
Consumers are becoming highly concerned about their health and fitness as a response to the impacts of the COVID-19 pandemic, which has dramatically increased the demand for immunity-boosting health supplements. Consumers are also focusing on all-natural and herbal products as they perceive them to be more effective and healthier than conventional pharmaceutical drugs, which has created a huge demand for herbal supplements.
In 2021, the marketplace witnessed growth as governments of various countries announced relaxation in several restrictions, including lockdowns. The manufacturers resumed their operations at full capacity, which helped them in overcoming the demand and supply gap. Many manufacturers expanded their production capacities to meet the rising consumer demand for herbal supplements.
E-commerce played a significant role during the COVID-19 pandemic as the shutdown of brick-and-mortar stores compelled consumers to purchase various products via online platforms. The sales of pharmaceutical drugs and supplements increased through online stores and e-pharmacies as these platforms provided home delivery services even during lockdowns. Consumers are expected to continue purchasing herbal supplements through online portals, which is further expected to favor the growth of the herbal supplements market during the forecast period.
MARKET PLAYERS
The reports cover key developments in organic and inorganic growth strategies in the herbal supplements market. Various companies are focusing on organic growth strategies such as product launches, product approvals, patents, and events. Inorganic growth strategy activities witnessed in the market were acquisitions, partnerships, and collaborations. These activities have paved the way for business expansion and the customer base of market players. Market players are anticipated to have lucrative growth opportunities in the coming years due to the rising demand for herbal supplements.
The report includes key company profiles operating in the herbal supplements market, along with their SWOT analysis and market strategies. It also focuses on leading industry players with information, such as company profiles, components and services offered, financial information of the last three years, and key development in the past five years.
Key Companies Operating in the Herbal Supplements Market
- Nature's Bounty
- Horbäach
- Natural Balance
- NOW Foods
- Gaia Herbs Farm
- Pharmavite LLC
- Excel Nutritionals LLC
- BIOSCHWARTZ LLC
- Swanson
- Carlyle Nutritionals, LLC
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Form, Distribution Channel, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Herbal Supplements Market - By Source
1.3.2 Herbal Supplements Market - By Application
1.3.3 Herbal Supplements Market - By Function
1.3.4 Herbal Supplements Market - By Form
1.3.5 Herbal Supplements Market - By Region
1.3.5.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. HERBAL SUPPLEMENTS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. HERBAL SUPPLEMENTS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. HERBAL SUPPLEMENTS MARKET - GLOBAL MARKET ANALYSIS
6.1. HERBAL SUPPLEMENTS - GLOBAL MARKET OVERVIEW
6.2. HERBAL SUPPLEMENTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. HERBAL SUPPLEMENTS MARKET - REVENUE AND FORECASTS TO 2028 - SOURCE
7.1. OVERVIEW
7.2. SOURCE MARKET FORECASTS AND ANALYSIS
7.3. LEAVES
7.3.1. Overview
7.3.2. Leaves Market Forecast and Analysis
7.4. BARKS
7.4.1. Overview
7.4.2. Barks Market Forecast and Analysis
7.5. FRUITS AND VEGETABLES
7.5.1. Overview
7.5.2. Fruits and Vegetables Market Forecast and Analysis
7.6. ROOTS
7.6.1. Overview
7.6.2. Roots Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. HERBAL SUPPLEMENTS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. PHARMACEUTICALS
8.3.1. Overview
8.3.2. Pharmaceuticals Market Forecast and Analysis
8.4. FOOD AND BEVERAGES
8.4.1. Overview
8.4.2. Food and Beverages Market Forecast and Analysis
8.5. PERSONAL CARE
8.5.1. Overview
8.5.2. Personal Care Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. HERBAL SUPPLEMENTS MARKET - REVENUE AND FORECASTS TO 2028 - FUNCTION
9.1. OVERVIEW
9.2. FUNCTION MARKET FORECASTS AND ANALYSIS
9.3. MEDICINAL
9.3.1. Overview
9.3.2. Medicinal Market Forecast and Analysis
9.4. AROMA
9.4.1. Overview
9.4.2. Aroma Market Forecast and Analysis
10. HERBAL SUPPLEMENTS MARKET - REVENUE AND FORECASTS TO 2028 - FORM
10.1. OVERVIEW
10.2. FORM MARKET FORECASTS AND ANALYSIS
10.3. CAPSULES AND TABLETS
10.3.1. Overview
10.3.2. Capsules and Tablets Market Forecast and Analysis
10.4. POWDER
10.4.1. Overview
10.4.2. Powder Market Forecast and Analysis
10.5. SYRUPS
10.5.1. Overview
10.5.2. Syrups Market Forecast and Analysis
10.6. OILS
10.6.1. Overview
10.6.2. Oils Market Forecast and Analysis
10.7. OTHERS
10.7.1. Overview
10.7.2. Others Market Forecast and Analysis
11. HERBAL SUPPLEMENTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Herbal Supplements Market Overview
11.1.2 North America Herbal Supplements Market Forecasts and Analysis
11.1.3 North America Herbal Supplements Market Forecasts and Analysis - By Source
11.1.4 North America Herbal Supplements Market Forecasts and Analysis - By Application
11.1.5 North America Herbal Supplements Market Forecasts and Analysis - By Function
11.1.6 North America Herbal Supplements Market Forecasts and Analysis - By Form
11.1.7 North America Herbal Supplements Market Forecasts and Analysis - By Countries
11.1.7.1 United States Herbal Supplements Market
11.1.7.1.1 United States Herbal Supplements Market by Source
11.1.7.1.2 United States Herbal Supplements Market by Application
11.1.7.1.3 United States Herbal Supplements Market by Function
11.1.7.1.4 United States Herbal Supplements Market by Form
11.1.7.2 Canada Herbal Supplements Market
11.1.7.2.1 Canada Herbal Supplements Market by Source
11.1.7.2.2 Canada Herbal Supplements Market by Application
11.1.7.2.3 Canada Herbal Supplements Market by Function
11.1.7.2.4 Canada Herbal Supplements Market by Form
11.1.7.3 Mexico Herbal Supplements Market
11.1.7.3.1 Mexico Herbal Supplements Market by Source
11.1.7.3.2 Mexico Herbal Supplements Market by Application
11.1.7.3.3 Mexico Herbal Supplements Market by Function
11.1.7.3.4 Mexico Herbal Supplements Market by Form
11.2. EUROPE
11.2.1 Europe Herbal Supplements Market Overview
11.2.2 Europe Herbal Supplements Market Forecasts and Analysis
11.2.3 Europe Herbal Supplements Market Forecasts and Analysis - By Source
11.2.4 Europe Herbal Supplements Market Forecasts and Analysis - By Application
11.2.5 Europe Herbal Supplements Market Forecasts and Analysis - By Function
11.2.6 Europe Herbal Supplements Market Forecasts and Analysis - By Form
11.2.7 Europe Herbal Supplements Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Herbal Supplements Market
11.2.7.1.1 Germany Herbal Supplements Market by Source
11.2.7.1.2 Germany Herbal Supplements Market by Application
11.2.7.1.3 Germany Herbal Supplements Market by Function
11.2.7.1.4 Germany Herbal Supplements Market by Form
11.2.7.2 France Herbal Supplements Market
11.2.7.2.1 France Herbal Supplements Market by Source
11.2.7.2.2 France Herbal Supplements Market by Application
11.2.7.2.3 France Herbal Supplements Market by Function
11.2.7.2.4 France Herbal Supplements Market by Form
11.2.7.3 Italy Herbal Supplements Market
11.2.7.3.1 Italy Herbal Supplements Market by Source
11.2.7.3.2 Italy Herbal Supplements Market by Application
11.2.7.3.3 Italy Herbal Supplements Market by Function
11.2.7.3.4 Italy Herbal Supplements Market by Form
11.2.7.4 United Kingdom Herbal Supplements Market
11.2.7.4.1 United Kingdom Herbal Supplements Market by Source
11.2.7.4.2 United Kingdom Herbal Supplements Market by Application
11.2.7.4.3 United Kingdom Herbal Supplements Market by Function
11.2.7.4.4 United Kingdom Herbal Supplements Market by Form
11.2.7.5 Russia Herbal Supplements Market
11.2.7.5.1 Russia Herbal Supplements Market by Source
11.2.7.5.2 Russia Herbal Supplements Market by Application
11.2.7.5.3 Russia Herbal Supplements Market by Function
11.2.7.5.4 Russia Herbal Supplements Market by Form
11.2.7.6 Rest of Europe Herbal Supplements Market
11.2.7.6.1 Rest of Europe Herbal Supplements Market by Source
11.2.7.6.2 Rest of Europe Herbal Supplements Market by Application
11.2.7.6.3 Rest of Europe Herbal Supplements Market by Function
11.2.7.6.4 Rest of Europe Herbal Supplements Market by Form
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Herbal Supplements Market Overview
11.3.2 Asia-Pacific Herbal Supplements Market Forecasts and Analysis
11.3.3 Asia-Pacific Herbal Supplements Market Forecasts and Analysis - By Source
11.3.4 Asia-Pacific Herbal Supplements Market Forecasts and Analysis - By Application
11.3.5 Asia-Pacific Herbal Supplements Market Forecasts and Analysis - By Function
11.3.6 Asia-Pacific Herbal Supplements Market Forecasts and Analysis - By Form
11.3.7 Asia-Pacific Herbal Supplements Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Herbal Supplements Market
11.3.7.1.1 Australia Herbal Supplements Market by Source
11.3.7.1.2 Australia Herbal Supplements Market by Application
11.3.7.1.3 Australia Herbal Supplements Market by Function
11.3.7.1.4 Australia Herbal Supplements Market by Form
11.3.7.2 China Herbal Supplements Market
11.3.7.2.1 China Herbal Supplements Market by Source
11.3.7.2.2 China Herbal Supplements Market by Application
11.3.7.2.3 China Herbal Supplements Market by Function
11.3.7.2.4 China Herbal Supplements Market by Form
11.3.7.3 India Herbal Supplements Market
11.3.7.3.1 India Herbal Supplements Market by Source
11.3.7.3.2 India Herbal Supplements Market by Application
11.3.7.3.3 India Herbal Supplements Market by Function
11.3.7.3.4 India Herbal Supplements Market by Form
11.3.7.4 Japan Herbal Supplements Market
11.3.7.4.1 Japan Herbal Supplements Market by Source
11.3.7.4.2 Japan Herbal Supplements Market by Application
11.3.7.4.3 Japan Herbal Supplements Market by Function
11.3.7.4.4 Japan Herbal Supplements Market by Form
11.3.7.5 South Korea Herbal Supplements Market
11.3.7.5.1 South Korea Herbal Supplements Market by Source
11.3.7.5.2 South Korea Herbal Supplements Market by Application
11.3.7.5.3 South Korea Herbal Supplements Market by Function
11.3.7.5.4 South Korea Herbal Supplements Market by Form
11.3.7.6 Rest of Asia-Pacific Herbal Supplements Market
11.3.7.6.1 Rest of Asia-Pacific Herbal Supplements Market by Source
11.3.7.6.2 Rest of Asia-Pacific Herbal Supplements Market by Application
11.3.7.6.3 Rest of Asia-Pacific Herbal Supplements Market by Function
11.3.7.6.4 Rest of Asia-Pacific Herbal Supplements Market by Form
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Herbal Supplements Market Overview
11.4.2 Middle East and Africa Herbal Supplements Market Forecasts and Analysis
11.4.3 Middle East and Africa Herbal Supplements Market Forecasts and Analysis - By Source
11.4.4 Middle East and Africa Herbal Supplements Market Forecasts and Analysis - By Application
11.4.5 Middle East and Africa Herbal Supplements Market Forecasts and Analysis - By Function
11.4.6 Middle East and Africa Herbal Supplements Market Forecasts and Analysis - By Form
11.4.7 Middle East and Africa Herbal Supplements Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Herbal Supplements Market
11.4.7.1.1 South Africa Herbal Supplements Market by Source
11.4.7.1.2 South Africa Herbal Supplements Market by Application
11.4.7.1.3 South Africa Herbal Supplements Market by Function
11.4.7.1.4 South Africa Herbal Supplements Market by Form
11.4.7.2 Saudi Arabia Herbal Supplements Market
11.4.7.2.1 Saudi Arabia Herbal Supplements Market by Source
11.4.7.2.2 Saudi Arabia Herbal Supplements Market by Application
11.4.7.2.3 Saudi Arabia Herbal Supplements Market by Function
11.4.7.2.4 Saudi Arabia Herbal Supplements Market by Form
11.4.7.3 U.A.E Herbal Supplements Market
11.4.7.3.1 U.A.E Herbal Supplements Market by Source
11.4.7.3.2 U.A.E Herbal Supplements Market by Application
11.4.7.3.3 U.A.E Herbal Supplements Market by Function
11.4.7.3.4 U.A.E Herbal Supplements Market by Form
11.4.7.4 Rest of Middle East and Africa Herbal Supplements Market
11.4.7.4.1 Rest of Middle East and Africa Herbal Supplements Market by Source
11.4.7.4.2 Rest of Middle East and Africa Herbal Supplements Market by Application
11.4.7.4.3 Rest of Middle East and Africa Herbal Supplements Market by Function
11.4.7.4.4 Rest of Middle East and Africa Herbal Supplements Market by Form
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Herbal Supplements Market Overview
11.5.2 South and Central America Herbal Supplements Market Forecasts and Analysis
11.5.3 South and Central America Herbal Supplements Market Forecasts and Analysis - By Source
11.5.4 South and Central America Herbal Supplements Market Forecasts and Analysis - By Application
11.5.5 South and Central America Herbal Supplements Market Forecasts and Analysis - By Function
11.5.6 South and Central America Herbal Supplements Market Forecasts and Analysis - By Form
11.5.7 South and Central America Herbal Supplements Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Herbal Supplements Market
11.5.7.1.1 Brazil Herbal Supplements Market by Source
11.5.7.1.2 Brazil Herbal Supplements Market by Application
11.5.7.1.3 Brazil Herbal Supplements Market by Function
11.5.7.1.4 Brazil Herbal Supplements Market by Form
11.5.7.2 Argentina Herbal Supplements Market
11.5.7.2.1 Argentina Herbal Supplements Market by Source
11.5.7.2.2 Argentina Herbal Supplements Market by Application
11.5.7.2.3 Argentina Herbal Supplements Market by Function
11.5.7.2.4 Argentina Herbal Supplements Market by Form
11.5.7.3 Rest of South and Central America Herbal Supplements Market
11.5.7.3.1 Rest of South and Central America Herbal Supplements Market by Source
11.5.7.3.2 Rest of South and Central America Herbal Supplements Market by Application
11.5.7.3.3 Rest of South and Central America Herbal Supplements Market by Function
11.5.7.3.4 Rest of South and Central America Herbal Supplements Market by Form
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. HERBAL SUPPLEMENTS MARKET, KEY COMPANY PROFILES
13.1. ARCHER DANIELS MIDLAND COMPANY
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. BIO BOTANICA, INC.
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. I-HEALTH, INC.
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. KONINKLIJKE DSM N.V.
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. NATURESAID, INC.
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. NUTRACEUTICAL CORPORATION
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. REXALL SUNDOWN, INC.
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. THE HIMALAYA DRUG COMPANY
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. THE NATURE'S BOUNTY CO.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. TWINLAB CORPORATION
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
The List of Companies
1. Archer Daniels Midland Company
2. Bio Botanica, Inc.
3. i-Health, Inc.
4. Koninklijke DSM N.V.
5. NaturesAid, Inc.
6. Nutraceutical Corporation
7. Rexall Sundown, Inc.
8. The Himalaya Drug Company
9. The Nature's Bounty Co.
10. Twinlab Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For