The global echinacea supplements market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). Echinacea belongs to a class of flowering plants in the daisy family and a common herbal ingredient in cold remedies. The supplements of echinacea are perceived to boost the immune system and also support to reduction of symptoms of infections and other illnesses, such as the common cold. The market growth is attributable to the growing use of echinacea supplements among the global population owing to its numerous health benefits. Particularly, the geriatric population which is more prone to weak immunity finds echinacea supplement a safer option as compared to other drugs claiming to boost immunity.
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As per the United Nations (UN) 2017, the aging/elderly population is likely to reach 2.1 billion in 2050 from 962 million in 2017. The number of comorbidities soars with aging; thus, this slot of the population is highly prone to comorbid conditions. As per the National Consumer Survey on the Medication Experience and Pharmacist Role (NCSME-PR) conducted in the US in 2015, it was concluded that people with chronic conditions are more likely to consume herbal supplements. These factors are projected to boost the market growth during the forecast years. Herbal supplements support to maintain cholesterol levels, regulate the digestive system, and reduce stress. Thus, increasing awareness about the health benefits offered by these products is also expected to fuel the market growth. Thus, the increasing trend towards the adoption of natural products, awareness for preventive healthcare, coupled with the growing expenditure on health and wellness are likely to be the additional drivers for the global echinacea supplements market.
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Market Coverage
Segment Covered-
- By Type
- By Distribution Channel
Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape: Nature’s Way Products, LLC, and Nature’s Bounty, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Echinacea Supplements Market Report by Segment
By Type
- Capsules
- Tablets
- Others
By Distribution Channel
- Online
- Offline
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