The Australia & New Zealand Herbal Supplements Market offers a variety of products including capsules, powder, tablets, liquids and soft gels infused with natural herbs that provide health benefits. Herbal supplements are gaining popularity as they support overall wellness without any side effects. The growing health consciousness among consumers is driving the demand for herbal supplements to boost immunity, manage stress and promote digestive health.
Market key trends:
One of the key trends accelerating the growth of the Australia & New Zealand Herbal Supplements Market is the rising consumer awareness about preventive healthcare and focus on maintaining well-being. In recent years, consumers have started embracing herbal supplements as a natural remedy to common health issues and to enhance physical performance. There is a growing understanding that consuming herbal supplements supplies the body with essential vitamins, minerals and plant-based compounds to boost immunity and reduce inflammation. Several researches have also highlighted various health benefits of commonly used herbs in supplements such as turmeric, ginger, garlic, ginseng etc. The trend of self-medication with herbal products is contributing significantly to the increased demand. Moreover, easy product availability through e-commerce and retail stores is further augmenting consumer uptake of herbal supplements in the region.
Segment Analysis
The Australia & New Zealand Herbal Supplements market is dominated by the herbal dietary supplements segment. This is because herbal dietary supplements provide overall wellness benefits and help maintain vital functions of the body. They are consumed on a daily basis to promote health and reduce the risk of illness. Common herbal dietary supplements in the region include herbal extracts for joint health, stress relief, immunity boosting, heart health, and general wellness.
Key Takeaways
The Global Australia & New Zealand Herbal Supplements Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Australia & New Zealand Herbal Supplements Market is estimated to be valued at US$ 1465.12 Mn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024-2031.
The Australian market is the largest and fastest growing in the region. This is attributed to growing health consciousness among consumers and widespread availability of herbal supplements through multiple sales channels in the country. New Zealand also sees increased demand driven by promotions of herbal remedies for their perceived natural benefits compared to allopathic medicines.
Key players analysis:
Key players operating in the Australia & New Zealand Herbal Supplements market are Marathon Petroleum Corporation, HollyFrontier Corporation, REG Life Sciences LLC, Louis Dreyfus Company, Orochem Technologies Inc., Hero BX, Archer Daniels Midland, Renewable Energy Group, Valero Energy Corp., Darling Ingredients Inc., Cargill Inc., POET LLC, Green Plains Inc., Flint Hills Resources, Bunge Limited, Crimson Renewable Energy LP, Aemetis Inc., Alto Ingredients, Inc., Pacific Ethanol, Inc., CHS Inc.
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