World Herbal Supplements and Remedies Market to Reach US$22.9 Billion by 2010, According to New Report by Global Industry Analysts, Inc.
Driven by the growing popularity of preventive healthcare, and rising consumer preferences towards natural herbs, and botanical derivatives, the world herbal supplements and remedies market is projected to reach US$22.9 billion by the year 2010. Positive media attention, scientific research and clinical trials backed claims of product safety and efficacy are all expected to generate increased consumer interest, and result in expanded market opportunities. The aging world population is additionally expected to offer a lucrative business case for herbal supplements.
San Jose, California (PRWEB) February 25, 2008
The world herbal supplements and remedies market (http://www. strategyr. com/Herbal_Supplements_and_Remedies_Market_Report. asp) stands enthused by the growing wariness, among modern health conscious consumers, of chemical, and synthetic ingredients, and drug formulas. The trend towards self-medication, and increased confidence in herbs, and their curative properties, are together, expected to fuel growth in the market. Conducive demographic patterns, such as, the aging baby boomer population, is expected to lead to an increase in demand for herbal supplements, given the growing emphasis on leading healthy lives. The ongoing continuous and unrelenting search for natural alternatives for conventional medicine and general health is expected to result in profitable product innovations. For instance, development of novel products for new indications such as prostate health, brain health and cognitive function, and joint and connective tissue health, and alternatives to hormone replacement therapy, are expected to help the market score attractive gains in the upcoming years. Multi-herb ingredients based medications and products are experiencing a marked rise in demand, mirroring the market's shift away from single ingredient products. Consumer awareness, product availability, forms of delivery, product acceptance, demographic preferences, regional regulations, and cultural heritage of herbal medications, are all expected to shape demand and market opportunities for specific types of herbs. Varying practices of natural medicine, such as, Western herbalism, Chinese herbalism, and Indian ayurveda are also expected to influence demand patterns. Increased use of botanical and herbal supplements, such as, phytosterols, green teas, antioxidant herbal extracts, and natural sweeteners, in the functional foods industry is expected to emerge into a major market driver in the upcoming years. Strong growth is expected to stem from developing Asian markets, such as, China and India.
As stated by the recent report published by Global Industry Analysts, Inc., the United States, and Europe dominate the world market for herbal supplements and remedies, with a combined share of 55% estimated in the year 2007. Global growth is expected to stem from the multi-herbs market (http://www. strategyr. com/Herbal_Supplements_and_Remedies_Market_Report. asp), which is projected to grow at a CAGR of 4.2% over the analysis period of 2000 through 2010. Sales of multi-herbs in Asia-Pacific and Latin America, the two fastest growing markets worldwide, are expected to reach US$3.1 billion by 2010. Europe dominates the world soy market (http://www. strategyr. com/Herbal_Supplements_and_Remedies_Market_Report. asp), with a 38.5% share estimated in the year 2007. In Asia-Pacific, sales in the Aloe Vera market, are expected to grow at 4.3% over the next five years. In the world specialty herbs market, the United States rakes in a 17% share, with sales expected to touch US$293 million by 2010. Ginseng sales in Latin America are projected to reach US$25 million by the year 2010. In Europe, Germany ranks as the largest market, followed by France and the United Kingdom.
Leading global, and regional players operating in the industry include Amerifit Brands, Inc., Arizona Natural Products, Arkopharma SA, Bio-Botanica, Inc., Blackmores Ltd., Himalaya Drug Company, Imperial Ginseng Products Ltd., Indfrag Ltd., Inverness Medical Nutritionals Group, MMS Pro Professional Products, Natrol Inc., Nature's Answer, Nature's Sunshine Products, NBTY Inc., Nutraceutical International Corporation, Pharma Nord APS, Pharmaton Natural Health Products, Pharmavite® LLC, Potters Herbal Medicines, Ricola USA, TwinLab Corporation, and Zandu Pharmaceutical Works Ltd.
The report titled "Herbal Supplements and Remedies: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key regional markets. Product markets analyzed in the report include Ginkgo Biloba, Garlic, Ginseng, Echinacea, St. John's Wort, Soy, Aloe Vera, Specialty Herbs, and Multi-Herbs. Latent demand patterns in product markets are quantified across major geographic market verticals including the United States, Canada, Japan, France, Germany, United Kingdom, Italy, Spain, and Russia, and Asia-Pacific, among others. Also provided in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit http://www. strategyr. com/Herbal_Supplements_and_Remedies_Market_Report. asp (http://www. strategyr. com/Herbal_Supplements_and_Remedies_Market_Report. asp).
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (http://www. strategyr. com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs more than 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of more than 60,000 smaller research products including company reports, market trend reports and industry reports encompassing all major industries worldwide.
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