With 38,394 shipments units, India dominates the global herbal supplement export market

Herbal supplements are natural compounds derived from plants utilized for various health benefits, including immunity function, digestion, and cognitive health. According to the latest report from Market.us Media, the global herbal supplements market revenue was USD 51.7 billion in 2023. 

The report finds India as the dominant player in the export of herbal supplements with shipments totaling 38,394 units. The United States was the leading import market with 12,590 units. The global health supplements market exhibited steady growth with a CAGR of 7.10%, the report states. 

After India, Indonesia came second in the export of herbal supplements with a far lower 1,369 units. The United States with 915 units and China with 421 units came third and fourth respectively. The export value of India's herbal supplements grew from 354.68 million USD in 2015 to 624.48 million USD in 2023. 

The report also notes that the popularity of herbal supplements results primarily from word of mouth contributing to 46.8% of the information spread. Media outlets contributed a meager 7.4%, while healthcare professionals scored the least with 3.9%. 

The report points out the rising awareness of holistic health which saw the sales of botanical-based products increase by 15% compared to the previous year. Online sales of herbal supplements also surged with a 20% increase in e-commerce transactions for herbal products, reflecting growing interest in self-care and natural remedies.

The report finds the varying regulatory framework as the main challenge against the continuing growth of the herbal supplement market. Collaboration among stakeholders, including manufacturers, healthcare professionals, and regulators, is vital to address emerging challenges and opportunities, the report concludes. 

Managed by ayurvedamagazine.org

Leave a Comment: