Herbal Medicine Market Shows Promising Growth: Demand Boosted by Rising Health Awareness and Natural Product Adoption

Increasing adoption of natural medicine, rising demand for natural beauty products and personal care, and increased knowledge of alternative medicine

VANCOUVER, BRITISH COLUMBIA, CANADA, July 8, 2024 /EINPresswire.com/ -- The global herbal medicine market size was USD 201.80 billion in 2022 and is expected to register a revenue CAGR of 7.9% during the forecast period . herbal medicine market has seen significant growth driven by increasing adoption of natural remedies and rising health awareness worldwide. Market research indicates that factors such as the popularity of natural beauty products, growing interest in alternative medicine, and a surge in self-medication practices are fueling this growth.

Herbal medicines, derived from various plant components like leaves, roots, and fruits, are gaining traction due to their perceived health benefits and minimal side effects compared to synthetic alternatives. This trend has been further accelerated by the COVID-19 pandemic, which heightened awareness about health and immunity, prompting consumers to explore traditional healing practices like Ayurveda.

Download Free Exclusive Sample PDF@ https://www.emergenresearch.com/request-sample/2835

Key drivers contributing to the market expansion include:

Increased R&D Investments: Major market players are investing significantly in research and development, leading to innovative herbal products and expanding market opportunities.

Shifting Consumer Preferences: There is a notable shift towards self-medication and natural healthcare solutions, driven by concerns over the side effects of conventional medications.

Government Initiatives: Supportive government policies and initiatives promoting the use of herbal medicines, especially in preventive healthcare, have bolstered market growth.

However, challenges such as lack of standardized usage guidelines and regulatory complexities across different regions restrain market growth to some extent.

Market Segmentation Insights:

Herbal Medicine Sources: The market is segmented into leaves, roots and barks, whole plants, fruits, and others. Leaves account for the largest share due to their versatility and demand across various industries.

Forms: Tablets and capsules dominate the market due to ease of consumption and widespread use in pharmaceutical applications.

End-Use: Pharmaceuticals lead in revenue, followed by food and beverages, cosmetics, and others. The cosmetics segment is poised for rapid growth, driven by increasing consumer preference for natural and organic skincare products.

Herbal Medicine Top Companies and Competitive Landscape

The global herbal medicine market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products.

Some of the major companies included in the global herbal medicine market report are:

Genius Nature Herbs Private Limited.

Guangzhou Pharmaceutical Co. Ltd.

Haiyao Co., Ltd.

Potter's Herbals

Bio-Botanica

Nature's Answer (Bio Answer Holdings Inc.)

Sanjiu Medical & Pharmaceutical Co., Ltd.,

China Resources Pharmaceutical Group Limited

DABUR INDIA LIMITED

Blackmores

A Nelson & Co., Ltd.

Arizona Natural Product

ZeinPharma Germany GmbH

Himalaya Global Holdings Ltd.

 Get An Impressive Discount On This Report@ https://www.emergenresearch.com/request-discount/2835

Herbal Medicine Latest Industry News

On March 23, 2022, with a USD 250 million investment from the Indian government, the World Health Organisation (WHO) opened the Global Centre for Conventional Medicine in India. With this, the organisation hopes to capitalise on conventional medicine's advantages all throughout the world.

On March 07, 2021, Lotus, a well-known beauty brand in India, debuted its line of herbal beauty products in the clean beauty brand Lotus Botanicals, which is the new product line, is a vital component of the rapidly expanding e-commerce beauty industry. The company wants to reconcile consumer demands for cosmetics with the needs of nature.

Herbal Medicine Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global herbal medicine market on the basis of source, form, category, product type end-use, and region:

Source Outlook (Revenue, USD Billion; 2019-2032)

Leaves

Roots and Barks

Whole Plants

Fruits

Others

Form Outlook (Revenue, USD Billion; 2019-2032)

Tablets and capsules

Powders

Gel and Liquids

Others

Category Outlook (Revenue, USD Billion; 2019-2032)

Herbal pharmaceuticals

Herbal Functional Foods

Herbal Beauty Products

Herbal Dietary Supplements

Product Type Outlook (Revenue, USD Billion; 2019-2032)

Ayurvedic

Homeopathy Medicine

Chinese Medicine

Aromatherapy Products

End-Use Outlook (Revenue, USD Billion; 2019-2032)

Pharmaceutical

Food and Beverages

Cosmetics

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

Acquire the complete research report on the Global Market@ https://www.emergenresearch.com/industry-report/herbal-medicine-market

Look Over transcripts provided by Emergen Research

Recyclable Packaging Market

https://www.emergenresearch.com/industry-report/recyclable-packaging-market

Blockchain Identity Management Market

https://www.emergenresearch.com/industry-report/blockchain-identity-management-market

Reflective Material market

https://www.emergenresearch.com/industry-report/reflective-material-market

Cloud Video Streaming market

https://www.emergenresearch.com/industry-report/cloud-video-streaming-market

Server Operating System market

https://www.emergenresearch.com/industry-report/server-operating-system-market

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
Visit us on social media:
Facebook
X
LinkedIn