Herbal Supplements: Unveiling Market Insights

Herbal supplements have emerged as popular choices for individuals seeking natural wellness solutions. As the demand continues to rise, the herbal supplements market has become a vibrant and rapidly evolving industry. 

In this article, we dive deep into this industry, as we examine the latest market trends and uncover valuable insights into consumer preferences.

 

Market Overview

According to Market.us, the global dietary supplements market is poised for an extraordinary ascent, with a projected value surpassing USD 361.4 billion by 2032, and Compound Annual Growth Rate (CAGR) reaching 8.4% from 2023 to 2032. 

The substantial market size and growth rate highlights the increasing health awareness among individuals worldwide, which drives the surge in demand for herbal supplements as a holistic means of achieving wellness.

 

The trends within the global dietary supplements industry lead us to the following insights:

 

Dominance of Vitamin Segment

Within the diverse landscape of dietary supplements, the vitamin segment generated the largest revenue share in 2022. 

This finding underscores the enduring popularity and wide acceptance of vitamin-based herbal supplements among consumers, which makes this type of herbal supplement a key driving force behind the market’s growth trajectory.

 

Growth Potential of Tablet Form

When it comes to the preferred form of dietary supplements, tablets have firmly established their dominance in the market. Moreover, their dominance is expected to continue as they reach the highest predicted CAGR over the forecast period from 2023 to 2032. 

 

North America’s Market Dominance

In 2022, North America emerged as the frontrunner among regional markets, commanding the highest revenue share of 34.8%. 

 

Flavor-Driven Consumer Preferences

An interesting trend emerges: four out of the top five products in the category are flavored. 

This preference for flavored herbal supplements reflects the growing importance of taste and sensory experience in enhancing product differentiation and consumer satisfaction. 

 

Factors Driving Market Growth

The growth of the global dietary supplements market is fueled by two primary factors. Firstly, the growing interest and consumer awareness in healthcare have driven individuals to adopt proactive measures to manage their well-being. 

Secondly, rising living standards worldwide have further propelled the demand for dietary supplements, as individuals aspire to elevate their overall health and quality of life.

 

Aside from category outlook, we can also see the top brands emerging in the category. Based on the top 200 keywords in Herbal Supplements on Amazon.com from May 20 to June 20, 2023 (compared to the previous 30 days), the following brands have earned significant Share of Voice:

 

How Shoppers Search

 

The COVID-19 pandemic has significantly raised consumer awareness of health supplements. When searching for herbal supplements, people primarily look for specific beneficial ingredients. The top terms include berberine, maca root, milk thistle, and ashwagandha. 

Because of this focus of ingredients, there has been weak brand awareness in the herbal supplements category, with only 18% of searches mentioning specific brands. 

Based on the 200 search terms in this category, we can come up with 6 topics based on the health benefits they are related to.

 

 

Let’s take a deep dive into two topics with the most volume share.

 

Heart & Circulatory Supplements

Most searches related to this topic are: berberine supplement, berberine, berberine 1500mg, super beets, and super beets heart chews.

The volume share has been skewed towards Heart & Circulatory supplements, largely because berberine supplement and its benefits gained widespread attention through viral social media videos in the past few months. 

We can glean from other top terms that beetroot is also emerging as a key ingredient of interest and that shoppers are interested in consuming it in the form of a chewable or gummy.

 

Energy & Immunity Supplements

This topic focuses on herbal supplements that boost immunity and help maintain high energy levels.

Most searches related to this topic are: chlorophyll, green powder, lions mane, glutathione, mushroom, elderberry, and cranberry. Chlorophyll stands out as the most searched ingredient, comprising 17% of the search volume, closely followed by green powder at 16%. 

While glutathione has a relatively lower volume share in this topic, it is experiencing an upward trend. The term glutathione supplement has seen a significant rise in popularity, moving from a rank of 10,000 to 4,000 on Amazon.com.

 

For the remaining topics, the following terms emerge in the top 5 most searched by shoppers:

Digestive Health fiber supplement  psyllium husk aloe vera juice  saw palmetto liver cleanse detox & repair

Brain & Stress milk thistle maca root Ashwagandha gummies  colon broom kava

Anti-Inflammatory  oregano oil  tumeric and curcumin  tumeric  oil of oregano  turmeric

Women’s Health provitalize for women for weight loss probiotics for women weight loss cranberry pills for women appetite suppressant for weight loss women  evening primrose oil

 

What Shoppers Buy

Market trends reveal important insights into consumer preferences and purchasing behavior, particularly in terms of demographic preferences and the influence of pricing. 

 

Preferences of Top Audiences

When it comes to the specific needs of different demographic groups, herbal supplements cater to varying health concerns and priorities.

 

Pregnant women seek products like black cohosh, raspberry, and ginger supplements, which are beneficial during pregnancy. These supplements fall under topics such as Women’s Health, Brain & Stress, and Energy & Immunity.

 

Adults aged 20 to 40 are interested in supplements that boost energy, enhance general immunity, and reduce stress levels. Popular choices include green powder and adaptogens like ashwagandha.

 

For the elderly (aged 60 and above), supplements focus on specific health benefits such as better heart health, liver detoxification, and better digestion.

 

Pricing and Preferences

 

Low $5.9 – $11.4

Medium $11.5 – $16.8

High $16.9 – $40

 

Based on revenue distribution, consumer behavior shows a clear preference towards higher-priced products in the herbal supplements category. 

Approximately 42% of the total revenue comes from the high price band, which equates to a strong inclination towards premium options. It’s also interesting that nine out of the top 10 products in this category fall into the high or medium price range. 

This trend may have stemmed from the belief that cheaper products may compromise on quality, and when it comes to health, consumers are unwilling to take chances. As a result, the demand for high-priced and premium herbal supplements remains strong.

 

What Next?

If you’d like to know how your brand is performing in the Herbal Supplements category, CommerceIQ’s Category Leaderboard lets you see how your brand stacks up to the competition across 8 key metrics in retail ecommerce.

Reach out today to get a free Category Leaderboard produced for your brand!