Herbal Medicine Market Size and Trends Analysis By Category (Herbal Pharmaceuticals, Herbal Functional Foods, Herbal Beauty Products and Herbal Dietary Supplements), By Type of Medicinal Plants (Marrubium Vulgare, Vaccinium Macrocarpon, Echinacea, Curcuma Longa, Camellia Sinensis, Actaea Racemose, Aloe Vera, Zingiber Officinale, Cocos Nucifera, Cinnamomum spp and Allium Sativum), By Form (Extracts, Powders, Capsules & Tablets and Syrups), By Source (Leaves, Root & Barks, Whole Plants and Fruits), By Distribution Channel (Hospital & Retail Pharmacies and E-Commerce) – Forecast till 2030
Market Research Future Insights
According to MRFR analysis, Herbal Medicine market is expected to register a CAGR of ~ 10.9% from 2022 to 2030 and hold a value of over USD 356 billion by 2030. The global herbal medicine market is expected to grow at a significant rate in the coming years. Herbal medicine refers to the use of plant extracts and natural herbs for medicinal purposes. It is an age-old practice that has gained popularity in recent years due to the increasing demand for natural and organic products.
The market is driven by factors such as the growing demand for alternative medicine, increasing awareness about the benefits of herbal medicine, and the rising prevalence of chronic diseases. Additionally, the growing trend of self-medication and the easy availability of herbal medicines over the counter is further fueling market growth.
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The market is segmented based on product type, distribution channel, and geography. The product type segment includes tablets and capsules, powders, extracts, syrups, and others. The distribution channel segment includes pharmacies, specialty stores, online stores, and others.
Segmentation
Herbal Medicine market has been segmented into Category , Type , Medicinal Plants, Form, Source and Distribution Channel
By Category: Herbal Pharmaceuticals , Herbal Functional Foods , Herbal Beauty Products , Herbal Dietary Supplements
By Type of Medicinal Plants : Marrubium Vulgare, Vaccinium Macrocarpon , Echinacea , Curcuma Longa , Camellia Sinensis , Actaea Racemose , Aloe Vera , Zingiber Officinale , Cocos Nucifera , Cinnamomum spp, Allium Sativum
By Form: Extracts , Powders , Capsules, Tablets , Syrups
By Source : Leaves , Root Barks, Whole Plants, Fruits
By Distribution Channel : Hospital & Retail Pharmacies, E-Commerce
Key Players
Some of the key market players are:
Arkopharma, Bayer AG, BEOVITA, Hishimo Pharmaceuticals, Schaper & Brümmer, ZeinPharma Germany GmbH, Venus Pharma GmbH, Dasherb Corp., Arizona Natural Products, Blackmores, Himalaya Global Holdings Ltd, Dr. Willmar Schwabe India Pvt. Ltd.,
Regional Analysis
North America: The North American herbal medicine market is one of the largest in the world, driven by the increasing demand for natural remedies, the rise in chronic diseases, and the growing adoption of herbal supplements. The United States is the largest market in this region, followed by Canada.
Europe: The European herbal medicine market is also significant and is expected to grow steadily due to the increasing awareness of the benefits of herbal medicine, the presence of well-established players, and favorable government initiatives. The United Kingdom, Germany, and France are some of the prominent markets in this region.
Asia-Pacific: The Asia-Pacific herbal medicine market is the fastest-growing region, driven by the increasing population, changing lifestyle, and growing demand for natural and herbal remedies. China is the largest market in this region, followed by India, Japan, and Australia.
Browse In-depth Market Research Report (163 Pages) on Herbal Medicine: https://www.marketresearchfuture.com/reports/herbal-medicine-market-3250
Latin America: The Latin American herbal medicine market is expected to grow at a moderate pace, driven by the increasing popularity of traditional medicine, the growing trend towards natural and organic products, and the presence of local players. Brazil, Mexico, and Argentina are the prominent markets in this region.
Middle East & Africa: The Middle East & Africa herbal medicine market is relatively small but is expected to grow due to the increasing demand for natural remedies and the growing awareness of the benefits of herbal medicine. South Africa and Egypt are the major markets in this region.
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