Medicinal Herbs Market was valued at USD 50 Billion in 2022 and is projected to reach USD 75 Billion by 2030, growing at a CAGR of 6.5% from 2024 to 2030.
Looking ahead, the medicinal herbs market is expected to see substantial growth from 2023 to 2033. Market analysts predict a surge in demand for products that offer wellness benefits, such as adaptogens, herbal teas, essential oils, and supplements. This rise is largely driven by the increasing adoption of holistic health practices, where consumers seek preventative and natural health solutions to maintain physical and mental well-being. The market is expected to grow at a compound annual growth rate (CAGR) of around 9% over the next decade, as more individuals turn to natural products to address health issues ranging from anxiety to chronic diseases.
The expansion of the herbal medicine sector is further bolstered by increased investments in research and development, which are expected to yield new, scientifically-backed therapeutic products. Furthermore, the shift in consumer attitudes towards sustainable, eco-friendly practices has propelled the demand for organic and ethically sourced medicinal herbs. The growing popularity of e-commerce platforms for herbal product sales, along with a rise in consumer education about the benefits of these herbs, is expected to enhance accessibility and visibility, accelerating market growth.
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The medicinal herbs market has been evolving steadily from 2018 to 2022, with a noticeable increase in global demand due to rising interest in alternative and natural medicine. The market's trajectory was influenced by several factors, including growing consumer preference for organic and herbal products, advancements in herbal medicine research, and a shift towards natural remedies due to increasing awareness of the side effects of synthetic drugs. Demand for medicinal herbs has been robust across North America, Europe, and the Asia Pacific, particularly driven by countries like China and India, where traditional medicine practices have a long history. These regions have been at the forefront of global market growth, while new emerging markets have also started to contribute significantly to the sector’s expansion.
Gaia Herbs
Arkopharma
Bio Botanica
Inc
Herb Pharm
Hevert
The Himalaya Drug Company
Indfrag Biosciences
Jemopharm
Natures Aid
Nature's Sunshine Products
Inc
Schaper & Brümmer
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Medicinal Herbs Market
Retail Pharmacies
E-Commerce
Based on Types the Market is categorized into Below types that held the largest Medicinal Herbs market share In 2023.
Herbal Pharmaceuticals
Herbal Functional Foods
Herbal Beauty Products
Herbal Dietary Supplement
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Medicinal Herbs Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Medicinal Herbs Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Medicinal Herbs Market, By Type
6. Global Medicinal Herbs Market, By Application
7. Global Medicinal Herbs Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Medicinal Herbs Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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