Elderberry Supplements Market to Register a CAGR of nearly 9% in the Next 10 years

CITY, Country, 2024-Jun-10 — /EPR Network/ —

The revenues of the Elderberry Supplements Market were estimated at US$ 1.1 Billion in 2022 and are anticipated to grow at a CAGR of 8.9% from 2023 to 2033, according to a recently published Future Market Insights report.

By the end of 2033, the market is expected to reach a valuation of US$ 2.9 Billion. Capsules type of elderberry supplement dominates the market with a projected CAGR of 8.8% from 2023 to 2033.

Elderberry supplements are available in various forms such as capsules, liquids, syrups, gummies, teas, lozenges, and powder form. These supplements are primarily used as immunity-boosting supplements due to their being rich in vitamins and antioxidants.

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These supplements are often used to prevent and treat cold symptoms such as fever, and fatigue during flu season. According to WHO, seasonal flu causes around 3 to 5 million severe cases around the world and 0.3 to 0.6 million deaths due to respiratory health complications. A study of elderberry supplements on over 300 airplane passengers during flu season concluded that people who took supplements and got sick recovered faster.

They are marketed as immunity supplements resulting in 25% of U.S. consumers associating elderberry supplements with immunity. Covid 19 has had a significant influence on consumer preference for immunity-boosting supplements to prevent diseases.

According to SPINS data, elderberry supplement sales during the pandemic soared by 169% reaching up to US$ 265.8 Million in the U.S. The popularity of these supplements is likely to stick around even post-pandemic due to changed consumer behavior.

Competitive Analysis:

Key players in the Elderberry Supplements Market are Jarrow Formulas, Inc., Solgar, Inc., Nature’s Bounty, Ancient GreenFields Pvt. Ltd., Gaia Herbs, Now Foods, Archer Daniels Midland Company, Glanbia plc, Blackmores and Nutraceutical International Corporation

The companies are manufacturing elderberry supplements in the form of capsules, syrups, and gummies. They are also launching new products to match up with the consumers’ needs for organic and vegan options for these immunity supplements.

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A few of the recent developments in the Elderberry Supplements Market are:

  • In August 2022, Spain-based Nektium launched an organic version of elderberry extract to match up with the growing demand for natural and organic ingredients from consumers.
  • In July 2021, S. brand Gaia Herbs launched a new black elderberry tonic to expand its line of best-selling elderberry products. The product got certification from USDA as an organic immunity health product to support daily immunity needs.
  • In November 2020, a U.S.-based company Cymbiotika added new vegan elderberry supplements to their product line named Liposomal Elderberry Defense. They announced it to be the first elderberry supplement produced with their patented liposomal delivery system.
  • In July 2020, S. brand Gaia Herbs launched three USDA-certified Organic black elderberry gummies for extra strength, daily immunity requirements, and children’s health.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Elderberry Supplements Market, presenting historical market data (2018-2022) and forecast statistics for the period from 2023 to 2033.

The study reveals extensive growth in Elderberry Supplements Market by Form (Capsules, Liquid, Gummies, Syrups, Teas, Lozenges, Powder, Others), by End Use Industry (Food   & beverages and Pharmaceuticals), by Distribution Channel (Supermarkets and Hypermarkets, Drug Stores and Pharmacies, Online Sales) and by Region (North America, Europe, Asia Pacific, Middle East and Africa, Latin America) – 2023 to 2033.

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Segmentation of the Elderberry Supplements Market

By Form:

  • Capsules
  • Liquid
  • Gummies
  • Syrups
  • Teas
  • Lozenges
  • Powder
  • Others

By End Use Industry:

  • Food & beverages
  • Pharmaceuticals

By Distribution Channel:

  • Supermarkets and Hypermarkets
  • Drug Stores and Pharmacies
  • Online Sales

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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