Global Herbal Medicine Market Growth 2023-2029

Global Herbal Medicine Market Growth 2023-2029

Herbal medicine--also called botanical medicine or phytomedicine refers to using a plant's seeds, berries, roots, leaves, bark, or flowers for medicinal purposes. Herbalism has a long tradition of use outside of conventional medicine. It is becoming more mainstream as improvements in analysis and quality control along with advances in clinical research show the value of herbal medicine in the treating and preventing disease.

Traditional herbal medicines are naturally occurring, plant-derived substances with minimal or no industrial processing that have been used to treat illness within local or regional healing practices.

LPI (LP Information)' newest research report, the “Herbal Medicine Industry Forecast” looks at past sales and reviews total world Herbal Medicine sales in 2022, providing a comprehensive analysis by region and market sector of projected Herbal Medicine sales for 2023 through 2029. With Herbal Medicine sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Herbal Medicine industry.

This Insight Report provides a comprehensive analysis of the global Herbal Medicine landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Herbal Medicine portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Herbal Medicine market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Herbal Medicine and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Herbal Medicine.

The global Herbal Medicine market size is projected to grow from US$ 156320 million in 2022 to US$ 243490 million in 2029; it is expected to grow at a CAGR of 243490 from 2023 to 2029.

Asia-Pacific is the largest region of Herbal Medicine, with a market share about 50%, followed by Europe and North America, etc. Tsumura, Schwabe, Yunnan Baiyao, Tongrentang and TASLY are the key manufacturers of industry, and top 10 players had less than 25% combined market share.

This report presents a comprehensive overview, market shares, and growth opportunities of Herbal Medicine market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Detoxification Medicine

Antipyretic Medicine

Aigestant Medicine

Blood Circulation Medicine

Others

Segmentation by application

Western Herbalism

Traditional Chinese Medicine

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

Tsumura

Schwabe

Madaus

Weleda

Blackmores

Arkopharma

SIDO MUNCUL

Arizona Natural

Dabur

Herbal Africa

Nature’s Answer

Bio-Botanica

Potter’s

Zand

Nature Herbs

Imperial Ginseng

Yunnan Baiyao

Tongrentang

TASLY

Zhongxin

Kunming Pharma

Sanjiu

JZJT

Guangzhou Pharma

Taiji

Haiyao

Key Questions Addressed in this Report

What is the 10-year outlook for the global Herbal Medicine market?

What factors are driving Herbal Medicine market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Herbal Medicine market opportunities vary by end market size?

How does Herbal Medicine break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.