The latest published report by Polaris Market Research “Global Herbal Medicine market Share, Size, Trends, Industry Analysis Report By Category (Pharmaceuticals, Functional Foods, Dietary Supplements, Beauty Products); By Form (Tablets & Capsules, Powders, Extracts, Syrups, Others); By Source (Leaves, Roots & Barks, Fruits, Whole Plants, Others); By Distribution Channel (Hospitals & Retail Pharmacies, E-commerce); By Regions, Segments & Forecast, 2020 – 2026” it gives a detailed insight into current market dynamics and provides analysis on future market growth.
The global Herbal Medicine market size is expected to reach USD 411.2 billion by 2026 and is anticipated to grow at a CAGR of 20.5% from 2020-2026. Increasing government support and funding amount for research and innovation is driving the market growth. Various factors such as low cost of the products, very less or no side effects of herbal medicine, rising usage by the global population and ease of availability will further aid in market growth over the forecast period.
Plant-based medications are the common treatment source for curing various diseases. According to the National Center for Biotechnology Information, between 70% to 80% of the population across the globe preferred traditional drugs for their treatment. Additionally, it has reported that consumer spending on conventional drugs increased to USD 7.5 billion. This rising demand will further boost the industry growth between 2020 and 2026.
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Key players present in the Herbal Medicine Market :
- Schaper & Brümmer
- Hishimo Pharmaceuticals
- Himalaya Global Holdings Ltd.
- Venus Pharma GmbH
- Patanjali Ayurved Ltd
- Blackmores Ltd
- Dasherb Corp
- Bayer AG
- ZeinPharma Germany GmbH
- Arizona Natural Products
- Willmar Schwable India Pvt. Ltd
Herbs and plant-based products can be consumed in multiple ways such as tablets & capsules, powders, extracts, syrups and used as oil, ointments, etc. The tablets & capsules form is expected to witness high growth rate between 2020 and 2026. These traditional products are produced from the fruits, leaves, roots, stalk, cloves, etc. Few products that are used to produced herbal medicines are Milk thistle (fruit), Garlic (cloves, root), Echinacea (leaf, stalk, root), Chamomile (flower), etc. Availability of these products across the globe makes it an easily available raw material to produce the drugs. When it comes to herbal medicine, leaves are predicted to hold considerable market share during the study period.
E-commerce distribution channel segment will generate higher revenues by 2026 due to increasing awareness, growing usage of smart phones & internet, large coverage areas and providing products at lower costs. Additionally, in 2019, herbal pharmaceuticals segment held a major share in the overall market. This high market share can be credited to rise in ageing population coupled with increasing consumer awareness.
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Asia Pacific herbal medicine is estimated to face significant growth rate over the forecast timeline. According to the World Health Organization, both China and India are investing heavily in research and advancement of better drugs originated from herbs and plants. Presently, North America and Europe hold significant market share. Rising governmental support along with increasing prevalence of chronic diseases is predicted to fuel the region’s market size. Higher predilection for plant-based medications and increasing funding amounts for research and innovation in medicinal herbs and plants is projected to boost the regional industry size.
Table of Contents of Report:
Overview and Scope
Herbal Medicine Market Insights
Herbal Medicine Market Size and Forecast by Category
- Herbal pharmaceuticals
- Herbal functional foods
- Herbal dietary supplements
- Herbal beauty products
Herbal Medicine Market Size and Forecast by Form
- Tablets & Capsules
Herbal Medicine Market Size and Forecast by Source
- Roots and barks
- Whole plants
Herbal Medicine Market Size and Forecast by Distribution Channel
- Hospitals & Retail pharmacies
Herbal Medicine Market Size and Forecast by Regional
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy)
- Asia Pacific (Japan, China, India, Thailand)
- Latin America (Mexico, Brazil, Chile)
- MEA (UAE, Saudi Arabia, South Africa)
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List of Tables
Table 1 Global Herbal Medicine Market (USD Billion) 2015 – 2026
Table 2 Global Herbal Medicine Market by region 2015 – 2026 (USD Billion)
Table 3 Global Herbal Medicine Market by category, 2015 – 2026 (USD Billion)
Table 4 Global Herbal Medicine Market by form, 2015 – 2026 (USD Billion)
Table 5 Global Herbal Medicine Market by source, 2015 – 2026 (USD Billion)
List of Figures
FIG. 1 Market snapshot
FIG. 2 Market segmentation & scope
FIG. 3 Global herbal medicine market size and growth prospects, 2015 – 2026
FIG. 4 Value chain analysis
The report can be customized on the basis of regional analysis, segment analysis, industry outlook and competitive analysis. Some of the major focus points which are covered in the report include:
- Industry Trends, opportunity and challenges in the market
- Role of key players across the value chain
- End-User analysis to define the market strategy
- Competitive mapping
- Regional and country level breakdown
These insights are included in the report which would help you to have a realistic overview of the overall market including the competition, investment opportunities, restraints and challenges, regulatory factors which might affect the market growth. Moreover, the report would help to identify the regional market growth opportunities for different segments covered in the report.
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