Global Medicinal Herbs Market - 2024-2031
Global Medicinal Herbs Market reached US$ XX million in 2023 and is expected to reach US$ XX million by 2031, growing at a CAGR of XX% during the forecast period 2024-2031
Herbal medicines are those that are obtained from plant derivatives and the risks, the mechanisms of action and where they act in our body are known. These medicines are made exclusively from vegetable raw material.
Market Dynamics: Drivers & Restraints
Rise in demand for herbal ingredients in the cosmetic industry
The cosmetics industry is experiencing a surge in demand for natural ingredients, driven by consumer awareness and companies incorporating herbal alternatives. This trend is expected to persist in the future, as cosmetic manufacturers are replacing synthetic chemicals with natural components. The demand for non-toxic beauty products, personal care, and toiletries is expected to drive the growth of the medicinal herbs market, as manufacturers are focusing on sustainable raw material sourcing.
Furthermore, global medicinal herbs are also driven by various other factors like a rise in the preference for organic and natural products, globalization of herbal products and others helping the market to grow during the forecast period.
Strict guidelines related to the use of herbal ingredients
The World Health Organization (WHO) states that many countries lack political will, legal framework, safety monitoring, referral mechanisms, information systems, and integration of herbal medicines into healthcare systems. This leads to challenges for herbal product suppliers and manufacturers in accessing different markets, as they must adhere to various legislations and accept different standards.
Segment Analysis
The global medicinal herbs market is segmented based on product type, type, nature type, form, end user and region.
The herbal pharmaceuticals from the product type segment accounted for approximately 42.3% of the medicinal herbs market share
The herbal pharmaceuticals from the product type segment accounted for approximately 42.3%. The increasing ageing population along with rising consumer awareness is expected to escalate the segment size during the forecast period. Moreover, various other factors such as supplier innovations, very few or no side effects, and the introduction of Current Good Manufacturing Practices (CGMP) by the FDA for dietary supplements will further enhance the herbal medicine industry size.
For instance, in November 2020, Kunnath Pharmaceuticals launched 'Viromune', an Ayurvedic formulation of 17 potent herbs, to achieve a turnover of Rs 2,000 crore within three years. The capsules, which range from antiviral to natural immunity boosting, are a combination of essential vitamins and minerals. The Ayurvedic formulation, which includes 17 potent herbs, is designed to boost immunity and promote overall health.
Geographical Analysis
North America is estimated to hold about 38.4% of the total market share throughout the forecast period
North America is estimated to hold about 38.4% of the total market share throughout the forecast period owing to factors like a rise in consumer awareness about health and a shift in attitudes toward natural care products due to a strong environmental consciousness. This shift is attributed to concerns about the potential harmful effects of alternative medicines on individuals' health. This transformation has led to a significant impact on the U.S. market.
Also, the focus on health and fitness is increasing in the United States as the problem of obesity becomes a huge one for the people and the government alike. Medicinal herbs for weight loss are projected to be high in demand in the country throughout the forecast period. Meanwhile, the surging popularity and consumption of herbal teas are extrapolated to drive up the sales of herbs such as chamomile, lavender, ginger, lemon, turmeric, and echinacea in the United States through 2033.
Covid 19 Impact Analysis
The COVID-19 disease was declared a global pandemic by the WHO in March 2020. The pandemic had a major impact on the healthcare and pharmaceutical sectors. There were short and long-term negative impacts as well, on the R&D and manufacturing activities and delays in projects/programs unrelated to the core supply chain/data management operations.
Market Segmentation
By Product Type
• Herbal Pharmaceuticals
• Herbal Functional Foods
• Herbal Beauty Products
• Herbal Dietary Supplements
By Type
• Spearmint
• Dandelion
• Horsetail
• Echinacea
• Neem
• Others
By Nature Type
• Organic
• Conventional
By Form
• Tablets
• Capsules
• Powder
• Liquid
• Others
By End-User
• Pharmaceutical and Nutraceutical Companies
• Food and Beverages
• Others
By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
• Middle East and Africa
Competitive Landscape
The major global players in the market include 21ST Century HealthCare, Inc., Zielpol, Jahrom Green Kian, Shanxi Hongda Phytochemistry Co., Ltd, Piante Officinali San Marco, Sunrise Nutrachem Group Co. Ltd, Starwest Botanicals, Himalayan Bio Trade Pvt. Ltd, Nutraceutical Corporation, Nature Answer LLC among others.
Key Developments
In October 2022, Pascoe Canada expanded its sleep products category with the addition of Pascoflair Night. Pascoe's new herbal sleep aid, Pascoflair Night, is formulated with passionflower, valerian, and lemon balm to help the person fall asleep and stay asleep. Pascoflair Night has sedative properties for uninterrupted sleep without side effects of hormonal disruptions or hangover effects. Pascoflair Night is used in herbal medicine as a sleep aid (during times of mental stress) as an alternative to sleeping pills to promote restful sleep.
Why Purchase the Report?
• To visualize the global medicinal herbs market segmentation based on product type, type, nature type, form, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analysing trends and co-development.
• Excel data sheet with numerous data points of the medicinal herbs market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global medicinal herbs market report would provide approximately 64 tables, 61 figures and 186 pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Product Type
- 3.2. Snippet by Type
- 3.3. Snippet by Nature Type
- 3.4. Snippet by Form
- 3.5. Snippet by End User
- 3.6. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. Rise in demand for herbal ingredients in the cosmetic industry
- 4.1.1.2. Increasing globalization of herbal products
- 4.1.2. Restraints
- 4.1.2.1. Strict guidelines related to use of herbal ingredients
- 4.1.2.2. XX
- 4.1.3. Opportunity
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Force Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 5.5. Patent Analysis
- 5.6. PESTLE Analysis
- 5.7. SWOT Analysis
- 5.8. DMI Opinion
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID
- 6.1.2. Scenario During COVID
- 6.1.3. Scenario Post COVID
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. By Product Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 7.1.2. Market Attractiveness Index, By Product Type
- 7.2. Herbal Pharmaceuticals*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.3. Herbal Functional Foods
- 7.4. Herbal Beauty Products
- 7.5. Herbal Dietary Supplements
- 8. By Type
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 8.1.2. Market Attractiveness Index, By Type
- 8.2. Spearmint*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Dandelion
- 8.4. Horsetail
- 8.5. Echinacea
- 8.6. Neem
- 8.7. Others
- 9. By Nature Type
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Nature Type
- 9.1.2. Market Attractiveness Index, By Nature Type
- 9.2. Organic*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Conventional
- 10. By Form
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 10.1.2. Market Attractiveness Index, By Form
- 10.2. Tablets*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Capsules
- 10.4. Powder
- 10.5. Liquid
- 10.6. Others
- 11. By End User
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 11.1.2. Market Attractiveness Index, By End User
- 11.2. Pharmaceutical and Nutraceutical Companies*
- 11.2.1. Introduction
- 11.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 11.3. Food and Beverages
- 11.4. Others
- 12. By Region
- 12.1. Introduction
- 12.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 12.1.2. Market Attractiveness Index, By Region
- 12.2. North America
- 12.2.1. Introduction
- 12.2.2. Key Region-Specific Dynamics
- 12.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Nature Type
- 12.2.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.2.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.2.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.2.8.1. U.S.
- 12.2.8.2. Canada
- 12.2.8.3. Mexico
- 12.3. Europe
- 12.3.1. Introduction
- 12.3.2. Key Region-Specific Dynamics
- 12.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Nature Type
- 12.3.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.3.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.3.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.3.8.1. Germany
- 12.3.8.2. UK
- 12.3.8.3. France
- 12.3.8.4. Italy
- 12.3.8.5. Spain
- 12.3.8.6. Rest of Europe
- 12.4. South America
- 12.4.1. Introduction
- 12.4.2. Key Region-Specific Dynamics
- 12.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Nature Type
- 12.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.4.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.4.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.4.8.1. Brazil
- 12.4.8.2. Argentina
- 12.4.8.3. Rest of South America
- 12.5. Asia-Pacific
- 12.5.1. Introduction
- 12.5.2. Key Region-Specific Dynamics
- 12.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Nature Type
- 12.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.5.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 12.5.8. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 12.5.8.1. China
- 12.5.8.2. India
- 12.5.8.3. Japan
- 12.5.8.4. South Korea
- 12.5.8.5. Rest of Asia-Pacific
- 12.6. Middle East and Africa
- 12.6.1. Introduction
- 12.6.2. Key Region-Specific Dynamics
- 12.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Product Type
- 12.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 12.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Nature Type
- 12.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Form
- 12.6.7. Market Size Analysis and Y-o-Y Growth Analysis (%), By End User
- 13. Competitive Landscape
- 13.1. Competitive Scenario
- 13.2. Market Positioning/Share Analysis
- 13.3. Mergers and Acquisitions Analysis
- 14. Company Profiles
- 14.1. 21ST Century HealthCare, Inc*
- 14.1.1. Company Overview
- 14.1.2. Product Portfolio and Description
- 14.1.3. Financial Overview
- 14.1.4. Key Developments
- 14.2. Zielpol
- 14.3. Jahrom Green Kian
- 14.4. Shanxi Hongda Phytochemistry Co., Ltd
- 14.5. Piante Officinali San Marco
- 14.6. Sunrise Nutrachem Group Co. Ltd
- 14.7. Starwest Botanicals
- 14.8. Himalayan Bio Trade Pvt. Ltd
- 14.9. Nutraceutical Corporation
- 14.10. Nature Answer LLC
- LIST NOT EXHAUSTIVE
- 15. Appendix
- 15.1. About Us and Services
- 15.2. Contact Us
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