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Glanbia PLC and Herbalife International of America, Inc and Main Players in Herbal Supplements Market
"The herbal supplements market is projected to grow at a CAGR of 6.8% from 2016 to 2022. Rise in ageing population, increasing number of female buyers for dietary supplements, and increasing awareness for preventive healthcare measures are some factors driving the market. The key market players have adopted strategies such as acquisitions, expansions, and joint ventures to expand their market share in the herbal supplements market. The key players who adopted these strategies Archer Daniels Midland Company (U.S.), Glanbia plc (Ireland), Herbalife International of America, Inc. (U.S.), Blackmores (Australia), and Nutraceutical International Corporation (U.S.). Other players in the industry include The Natures Bounty Co. (U.S.), Arizona Natural Products (U.S.), Ricola (Switzerland), NaturaLife Asia Co., Ltd. (Korea), and Bio-Botanica Inc. (U.S.).
Glanbia plc is engaged in the production and distribution of performance nutrition and ingredient products for better nutrition and health. The Glanbia nutritional business segment of the company comprises dairynon-dairy-based nutritional ingredients and customized solutions/premixes. It also contains nutrition & supplements that are made to enhance health of consumers of all age groups. The companyís effort in expansion in developing countries of the Latin American Africa and Asia-Pacific regions has the market opportunity to grow its Glanbia nutritionalís segment. For instance it acquired the U.S. beverage manufacturer Aseptic Solutions Inc. in 2012 in order to strengthen its business in its nutritional segment.
Herbalife International of America Inc.
Herbalife is one of the leading nutrition companies engaged in the production of nutritional products, such as protein, fiber, and vitamins. The company offers its products through four principle segments, namely, Weight Management; Targeted Nutrition; Energy, Sports, and Fitness; and Outer Nutrition. It operates in over 91 countries, spanning North and Latin America; Asia-Pacific, Europe, and Africa. Herbalife has a strong market presence in the world, which has helped it to achieve a considerable market share in the supplements industry. Therefore, providing quality products has been the key strategy of the company. For instance, in 2014, the company launched a new green tea product line, which increased the companyís product portfolio.
Herbal Supplements Market by Source (Leaves, Barks, Fruits & Vegetables, and Roots), Application (Pharmaceuticals, Food & Beverage, and Personal Care), Function (Medicinal and Aroma), Form, and Region - Global Forecast to 2022
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