Herbal Capsule Industry - Recent Development

 

The Global Herbal Capsule market size was valued at USD 39.3 billion in 2023 and is projected to grow at a CAGR of 7.3% from 2024 to 2030. The market surge can be credited to the major shifts in consumer preferences. Consumers have increasingly recognized the benefits of preventive healthcare and sought natural products and medicines for their physical well-being. For instance, echinacea, a herbal product has gained significant traction owing to its immune-boosting properties in the wake of the recent pandemic.

Recent Development

•            March 2021, Lotus, one of India's leading beauty companies, has launched the Lotus Botanicals brand. Through this e-commerce site, customers can only order Lotus Botanicals skin care products and hair care products from Lotus Botanicals and other third-party businesses.

•            In May 2019, Gaia Herbs launched two new hemp products, Hemp Full Spectrum Extract 10 mg and Hemp Full Spectrum Extract 20 mg.

•            In March 2019, Martin Bauer Group acquired BI Nutraceuticals, Inc., a full-service manufacturer and supplier of plant-based ingredients in the United States.

 

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