Overview


According to FutureWise analysis the market for herbal medicine in 2023 is US$ 165.46 billion, and is expected to reach US$ 393 billion by 2031 at a CAGR of 11.42%.

The utilization of plants and plant extracts for medicinal purposes is known as herbal medicine, often referred to as phytomedicine or botanical medicine. The popularity of this practice, which has been practiced for thousands of years in several civilizations all over the world, has recently increased. Herbal medicines can be prepared from various parts of plants, including leaves, stems, flowers, roots, and bark. These plant materials contain a variety of active compounds, such as alkaloids, flavonoids, and terpenoids, which are believed to have therapeutic effects on the body.

Herbal medicine can be used to treat a variety of illnesses, ranging from minor ailments like colds and headaches to chronic diseases such as diabetes and arthritis. Some popular herbal remedies include echinacea for immune support, St. John's wort for depression, and ginger for nausea. One of the benefits of herbal medicine is that it is often perceived as being a more natural and gentle approach to healthcare than traditional pharmaceuticals. Herbal remedies are often seen as having fewer side effects and being less harmful to the body than prescription medications. However, some herbal remedies can cause adverse reactions in certain individuals. Additionally, the authenticity and quality of herbal products may vary widely, and there is often little regulation or oversight of the herbal medicine industry.

The herbal medicine market is a rapidly growing segment of the healthcare industry, driven by increasing consumer interest in natural and alternative remedies. One major driver of the herbal medicine market is the increasing prevalence of chronic diseases and the rising demand for natural, non-pharmaceutical treatments. Many consumers are turning to herbal medicines as a way to manage chronic conditions like arthritis, diabetes, and heart disease, as well as to improve overall health and wellness. Another key driver of the herbal medicine market is the growing awareness of the potential side effects and risks associated with traditional pharmaceuticals. Many consumers are seeking natural alternatives to prescription medications and are willing to pay a premium for high-quality herbal products that are safe and effective.

However, the herbal medicine market is also subject to a number of challenges and restraints that may impact its growth in the future. One major challenge is the lack of standardization and regulation in the industry. Because herbal products do not go through the same rigorous testing and approval processes as pharmaceuticals, there is a risk of inconsistent quality and efficacy across different products. Additionally, the herbal medicine market is subject to a number of regulatory and legal concerns, including restrictions on the use of certain herbs and ingredients, as well as issues related to intellectual property and patent infringement.

FutureWise Market Research has published a report that provides an insightful analysis of Herbal Medicine Market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. By the end of the forecast period FutureWise research analysts projects that Herbal Medicine Market will experience a significant growth.

According to the analysis done, this report will help understand the information referring to the total valuation held by this industry. Additionally, this report will help in understanding the growth opportunities held by various segments of this market, further assist in making better strategic and expansion decisions by key stakeholders of an organization.

  • 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.
  • Patanjali Ayurved Ltd
  • Dabur Ltd.
  • Tsumura & Co.
  • Nature's Answer, Inc.

By Category

  • Herbal Pharmaceuticals
  • Herbal Functional Foods
  • Herbal Beauty Products
  • Herbal Dietary Supplements

By 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

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

This market research report also emphasis on factors affecting the growth rate in various regions listed above. A deep-down analysis of region will also be provided in the final version of this market which is based on conclusion of primary interviews and secondary data point gathered during the process.

By region, the market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. Asia-Pacific is expected to dominate the market in the coming years. This is due to various factors, including the rich history and tradition of herbal medicine in the region, as well as the growing demand for natural and alternative therapies. In many countries in the Asia-Pacific region, herbal medicine has been a part of traditional medicine for centuries and is firmly rooted in the culture and healthcare system. In countries like China, India, and Japan, herbal remedies are widely used and accepted as effective treatments for a wide range of conditions, from minor ailments to chronic diseases. In addition to the strong cultural acceptance of herbal medicine, the Asia-Pacific region also has a large and rapidly growing population, with increasing disposable income and healthcare spending. This is driving demand for natural and non-pharmaceutical treatments.

  • Tier 1 players- established companies in the market with a major market share
  • Tier 2 players
  • Emerging players which are growing rapidly
  • New Entrants
  • Growth prospects
  • SWOT analysis
  • Key trends
  • Key data-points affecting market growth
  • To provide with an exhaustive analysis on the Herbal Medicine Market By Category, By Medicinal Plants, By Form,By Source,By Distribution Channel and By Region.
  • To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
  • To evaluate and forecast micro-markets and the overall market
  • To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
  •  To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
  • We have a flexible delivery model and you can suggest changes in the scope/table of content as per your requirement
  • The customisation offered are free of charge with purchase of any license of the report
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Table of Contents


  • 1.   Market Introduction
    •   1. Objectives of the Study
        2. Market Definition
        3. Market Scope
         3.1. Years Considered for the Study
         3.2. Market Covered
        4. Currency
        5. Limitations
        6. Stakeholders
  • 2.   Research Methodology
    •   1. Research Data
         1.1. Secondary Data
          1.1.1. Key Data from Secondary Sources
         1.2. Primary Data
          1.2.1. Key Data from Primary Sources
        2. Market Size Estimation
        3. Market Breakdown and Data Triangulation
        4. Assumptions for the Study
  • 3.   Executive Summary
    •   1. Market Outlook
        2. Segment Outlook
        3. Competitive Insights
  • 4.   Herbal Medicine Market Variables, Trends and Scope
    •   1. Market Lineage Outlook
        2. Penetration and Growth Prospect Mapping
        3. Industry Value Chain Analysis
        4. Cost Analysis Breakdown
        5. Technology Overview
        6. Regulatory Framework
         6.1. Reimbursement Framework
         6.2. Standards and Compliances

  • 5.   Market Overview
    •   1. Market Dynamics
         1.1. Market Driver Analysis
          1.1.1. Increasing focus of Herbal Medicine Market Companies on Brand Protection
          1.1.2. Untapped Opportunities in Emerging Regions
         1.2. Market Restraint Analysis
          1.2.1. High Cost Associated with Implementation of Predictive Analysis
         1.3. Industry Challenges
          1.3.1. Presence of Ambiguous Regulatory Framework
  • 6.   Herbal Medicine Market Analysis Tools
    •   1. Industry Analysis - Porter’s
         1.1. Supplier Power
         1.2. Buyer Power
         1.3. Substitution Threat
         1.4. Threat from New Entrants
         1.5. Competitive Rivalry
        2. Pestel Analysis
         2.1. Political Landscape
         2.2. Environmental Landscape
         2.3. Social Landscape
         2.4. Technology Landscape
         2.5. Legal Landscape
        3. Major Deals And Strategic Alliances Analysis
         3.1. Joint Ventures
         3.2. Mergers and Acquisitions
         3.3. Licensing and Partnership
         3.4. Technology Collaborations
         3.5. Strategic Divestments
        4. Market Entry Strategies
        5. Case Studies
  • 7.   Herbal Medicine Market, By Category Historical Analysis and Forecast 2023-2031 (USD Million)
    •   1. Herbal Pharmaceuticals
        2. Herbal Functional Foods
        3. Herbal Beauty Products
        4. Herbal Dietary Supplements

  • 8.   Herbal Medicine Market, By Medicinal Plants Historical Analysis and Forecast 2023-2031 (USD Million)
    •          1. Marrubium Vulgare
               2. Vaccinium Macrocarpon
               3. Echinacea
               4. Curcuma Longa
               5. Camellia Sinensis
               6. Actaea Racemose
               7. Aloe Vera
               8. Zingiber Officinale
               9. Cocos Nucifera
              10. Cinnamomum Spp
              11. Allium Sativum

  • 9.   Herbal Medicine Market, By Form Historical Analysis and Forecast 2023-2031 (USD Million)
    •   1. Extracts
        2. Root and Barks
        3. Whole Plants
        4. Fruits

  • 10.   Herbal Medicine Market, By Source Historical Analysis and Forecast 2023-2031 (USD Million)
    •   1. Leaves
        2. Powders
        3. Capsules and Tablets
        4. Syrups

  • 11.   Herbal Medicine Market, By Distribution Channel Historical Analysis and Forecast 2023-2031 (USD Million)
    •   1. Hospital and Retail Pharmacies
        2. E-Commerce

  • 12.   North America Herbal Medicine Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. U.S.A
         2.2. Canada
         2.3. Mexico
        3. Market Size (USD Million) Forecast for North America 2023-2031

  • 13.   Latin America Herbal Medicine Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Brazil
         2.2. Venezuela
         2.3. Argentina
         2.4. Rest of Latin America
        3. Market Size (USD Million) Forecast for Latin America 2023-2031

  • 14.   Europe Herbal Medicine Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Germany
         2.2. U.K
         2.3. France
         2.4. Italy
         2.5. Spain
         2.6. Russia
         2.7. Poland
         2.8. Rest of Europe
        3. Market Size (USD Million) Forecast for Europe 2023-2031

  • 15.   Asia Pacific Herbal Medicine Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. Japan
         2.2. China
         2.3. India
         2.4. Australia and New Zealand
         2.5. ASEAN
         2.6. Rest of Asia Pacific
        3. Market Size (USD Million) Forecast for Asia Pacific 2023-2031

  • 16.   Middle East and Africa Market Analysis 2017-2022 and Forecast 2023-2031 (USD Million)
    •   1. Introduction
        2. Historical Market Size (USD Million) Analysis By Country, 2017-2022
         2.1. GCC
         2.2. Israel
         2.3. South Africa
         2.4. Rest of MEA
        3. Market Size (USD Million) Forecast for MEA 2023-2031

  • 17.   Market Share Analysis and Competitive Landscape
    •   1. Global Landscape - Key Players, Revenue and Presence
        2. Global Share Analysis - Key Players (Tier 1, Tier 2, Tier 3)
        3. Global Emerging Companies
        4. North America - Market Share Analysis and Key Regional Players
        5. Europe - Market Share Analysis and Key Regional Players
        6. Asia Pacific - Market Share Analysis and Key Regional Players
        7. Global Key Player - Growth Matrix
  • 18.   Company Profiles (Competition Dashboard, Competitors Deep Dive, Products Offered and Financial Layouts)
    •   1. Arkopharma
         1.1. Company Overview
         1.2. Product Portfolio
         1.3. SWOT Analysis
         1.4. Financial Overview
         1.5. Strategic Overview
        2. Bayer AG
         2.1. Company Overview
         2.2. Product Portfolio
         2.3. SWOT Analysis
         2.4. Financial Overview
         2.5. Strategic Overview
        3. BEOVITA
         3.1. Company Overview
         3.2. Product Portfolio
         3.3. SWOT Analysis
         3.4. Financial Overview
         3.5. Strategic Overview
        4. Hishimo Pharmaceuticals
         4.1. Company Overview
         4.2. Product Portfolio
         4.3. SWOT Analysis
         4.4. Financial Overview
         4.5. Strategic Overview
        5. Schaper & Brümmer
         5.1. Company Overview
         5.2. Product Portfolio
         5.3. SWOT Analysis
         5.4. Financial Overview
         5.5. Strategic Overview
        6. ZeinPharma Germany GmbH
         6.1. Company Overview
         6.2. Product Portfolio
         6.3. SWOT Analysis
         6.4. Financial Overview
         6.5. Strategic Overview
        7. Venus Pharma GmbH
         7.1. Company Overview
         7.2. Product Portfolio
         7.3. SWOT Analysis
         7.4. Financial Overview
         7.5. Strategic Overview
        8. Dasherb Corp.
         8.1. Company Overview
         8.2. Product Portfolio
         8.3. SWOT Analysis
         8.4. Financial Overview
         8.5. Strategic Overview
        9. Arizona Natural Products
         9.1. Company Overview
         9.2. Product Portfolio
         9.3. SWOT Analysis
         9.4. Financial Overview
         9.5. Strategic Overview
        10. Blackmores
         10.1. Company Overview
         10.2. Product Portfolio
         10.3. SWOT Analysis
         10.4. Financial Overview
         10.5. Strategic Overview
        11. Himalaya Global Holdings Ltd
         11.1. Company Overview
         11.2. Product Portfolio
         11.3. SWOT Analysis
         11.4. Financial Overview
         11.5. Strategic Overview
        12. Dr. Willmar Schwabe India Pvt. Ltd.
         12.1. Company Overview
         12.2. Product Portfolio
         12.3. SWOT Analysis
         12.4. Financial Overview
         12.5. Strategic Overview
        13. Patanjali Ayurved Ltd
         13.1. Company Overview
         13.2. Product Portfolio
         13.3. SWOT Analysis
         13.4. Financial Overview
         13.5. Strategic Overview
        14. Dabur Ltd.
         14.1. Company Overview
         14.2. Product Portfolio
         14.3. SWOT Analysis
         14.4. Financial Overview
         14.5. Strategic Overview
        15. TsumuraCo.
         15.1. Company Overview
         15.2. Product Portfolio
         15.3. SWOT Analysis
         15.4. Financial Overview
         15.5. Strategic Overview
        16. Nature's Answer, Inc.
         16.1. Company Overview
         16.2. Product Portfolio
         16.3. SWOT Analysis
         16.4. Financial Overview
         16.5. Strategic Overview

  • 19.   Pre and Post COVID-19 Impact
    •   1. Positive influence on the healthcare industry
        2. The financial disruption of the manufacturing sector
        3. Impact of COVID-19 on emerging companies
        4. Significant mandates in the healthcare regulations initiated by administrations
        5. The overall economic slowdown of the developing and developed nations
  • 20.   FutureWise SME Key Takeaway Points for Client
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