Biography
Biography: Bhushan Bhavsar
Abstract
The global herbal supplements and remedies market is forecast to reach $107 billion by the year 2017, spurred by growing aging population and increasing consumer awareness about general health and well being, according to a new report from Global Industry Analysts. Additionally, the fact that herbal supplements and remedies cause little or no side effects and provide greater efficacy is also proving to be a major factor aiding market growth. The global herbal supplements and remedies market exhibited robust growth over the last decade, with little or no significant decline on account of the recent economic recession. The factors that fueled growth in the market include widespread acceptance of functional foods, rise in consumer confidence to include herbs in preventive health and alternative medicine regimens, supplier innovations, and the much awaited release of Current Good Manufacturing Practices (CGMP) for dietary supplements by FDA. The global market, in fact, exhibited steady growth during the crisis-ridden period of 2008-2009 and beyond. The importance of healthy diet and good lifestyle dominated the minds of consumers, which could not be dampened even by the financial meltdown witnessed in almost every sector worldwide. In fact, the recession has actually prompted increased preference for dietary supplements. Escalating prices, tighter budgets and high healthcare and lifestyle costs, have actually driven consumers towards the more economical, healthier and safer option of alternative medicine and dietary supplements, to get relief from physical and mental disorders. ADDITIONAL POINTS COVERED: 1. Herbal Global Market. 2. Herbal Regional Market. 3. Herbal product category. 4. Global regulations for herbal market. 5. Marketing strategies used.