Ready to Drink Beverages Market Forecasts to 2028 – Global Analysis By Product Type (Coffee, Energy Drinks, Flavored Milk and Other Product Types), Nature (Conventional and Organic), Packaging (Bottle, Tin Can, Sachet, Tetra Pack and Other Packagings), Di

Ready to Drink Beverages Market Forecasts to 2028 – Global Analysis By Product Type (Coffee, Energy Drinks, Flavored Milk and Other Product Types), Nature (Conventional and Organic), Packaging (Bottle, Tin Can, Sachet, Tetra Pack and Other Packagings), Distribution Channel and By Geography

According to Stratistics MRC, the Global Herbal Medicine Market is accounted for $186.8 billion in 2022 and is expected to reach $325 billion by 2028 growing at a CAGR of 9.7% during the forecast period. Herbal remedies are made from various plant parts such leaves, bark, seeds, berries, and roots. Herbal medicines are available in various dosage forms like tablets, extracts, dried plants, and others. People use herbal medicines to treat illnesses or to maintain or improve their health. Herbal medicines attempt to restore the body's natural balance so that it can heal itself when sick. Different herbs have different effects on various parts of the body.

According to the National School of Medicine and Homeopathy, homeopathic medicines are 70% less expensive than allopathic alternatives and 15% less expensive than generics. With the increased occurrence of liver and heart diseases, as well as the increased R&D activities that go into the development of newer versions of more effective herbal medicine, many health-conscious people are now turning to these natural remedies to cure their diseases. However, low awareness among individuals regarding the employment and dosage of herbal medicines impede the market growth.

Market Dynamics:

Driver:

Demand for Herbal Ingredients in the Cosmetic Industry

The demand for medicinal herbs for cosmeceuticals accounts for nearly a quarter of global market demand and is growing at a rapid pace. With the market expanding at a quick pace, many cosmetic brands are drawn to medicinal herb products due to the high profits. Consumer interest in natural cosmetics is on the rise, and cosmetics companies are putting more emphasis on offering natural herbal substitutes for synthetic components. This trend is anticipated to continue during the forecast period as demand for natural components used in cosmetics and hygiene products grows.

Restraint:

Influence of Regulatory Policies on Status and Safety

Herbal preparations don't often require any evidence of quality. The Herbal Medicines are classified as foods or dietary supplements by governments. The majority of the complications associated with the incorporation of Herbal medicines have been observed to emerge primarily as a result of certain environmental factors. In the case of herbal medicines practitioners are not registered or licensed in some cases. Herbal remedies and related products are being released with no warning. Most countries require safety or toxicological testing due to insufficient tools for monitoring quality control and manufacturing procedures. Without the need for a prescription and without considering potential risks are associated with herbal remedies, which may lead to hindering the market growth.

Opportunity:

High Demand in Developing Countries

Across many developing countries, herbal medicines are an important part of medical treatment. Almost all minor ailments are treated with herbal products and natural preparations. Visits to trained doctors or prescription pharmacists are typically rare in developing and lower-income countries, and are reserved for life-threatening disorders. Herbs used for medicinal purposes in developing countries are unprocessed herbs, plants, or plant parts that have been dried and used whole or cut. Herbs are prepared for internal use as teas (sometimes as pills or capsules) and for external use as salves and poultices. Because most developing countries have minimal regulation regarding the use of herbs as medicines, the growth of the industry in developing countries is expected to be one of the driving factors for the industry.

Threat:

Side Effects

A study discovered that herbal medicines can cause kidney failure and liver damage in some users because they contain toxic chemicals or heavy metals or interact negatively with other drugs. The findings of 52 studies on herbal medicines and toxicology were reviewed by researchers led by the University of Adelaide. Another study of traditional Chinese medicine products in Australia discovered excessive levels of lead, cadmium, and arsenic in 61% of the preparations, levels high enough to cause acute poisoning. Some preparations were discovered to contain pesticides or contaminants linked to improper storage. Many herbal products lacked adequate warning labels regarding side effects and drug interactions.

Covid-19 Impact

The COVID-19 pandemic is expected to positively impact the growth. It has created ample opportunities for players due to increasing demand of herbal immunity boosters. To meet the rising demand for medicinal herbs, market participants are developing a variety of solutions. To maintain market demand, the countries least affected by the lockdown have focused on high-level production. During the pandemic, the market for medicinal herbs, cosmeceuticals, and nutraceutical products is expected to grow. Growth opportunities are expected in the first two quarters of 2021 under an optimistic market scenario, with lockdown for the first three quarters. However, if the lockdown is lifted by the second quarter, market earnings for 2020 will be at their peak.

The Herbal Pharmaceuticals segment is expected to be the largest during the forecast period

Due to the growing geriatric population, combined with rising awareness amongst people Herbal Pharmaceuticals segment is expected to be the largest during the forecast period. Which helps in intensive growth of the global herbal medicine market, along with other important factors such as supplier innovations, few to no side effects of herbal medicine usage, and the FDA's implementation of Current Good Manufacturing Practices (CGMP) for dietary supplements are expected to drive the market growth.

The Herbal Beauty Products segment is expected to have the highest CAGR during the forecast period

The Herbal Beauty Products segment is anticipated to witness the fastest CAGR growth during the forecast period, due to the demand for herbal cosmetics and growing consumer awareness regarding the harmful effects of chemicals being added to beauty products. Rising focus on appearance and looks coupled with increased acceptance of herbal products among consumers are some of the factors that are expected to help the expansion of the market worldwide. Moreover, the increased demand for chemical-free beauty products along with growing awareness about cruelty-free cosmetics is supporting market growth.

Region with highest share:

Europe is projected to hold the largest market share during the forecast period owing to the growing R&D and the increasing investments in the herbal medicines market. The growing prevalence of chronic illness among the expanding populace is expected to be another salient cause that can develop the market in the region. The demand for natural ingredients has grown, and as a result, the personal care and beauty products sectors are expanding at the same time in the region. The population of Europe suffers from a variety of health issues, and as a result, these issues will fuel regional growth.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, due to significant funding for research and development of effective medications derived from herbs and plants in nations like China and India. According to the World Health Organization, almost 80% of Asians use herbal remedies for their basic health. China, India, and Indonesia are the largest exporters of herbal medications and essential oils. Favorable government policies, significant research expenditures, and widespread consumer adoption of Chinese medicines all boost the market in the Asia Pacific region.

Key players in the market

Some of the key players profiled in the Herbal Medicine Market include Patanjali Ayurved Ltd., Arizona Natural Products, Beovita Vital GmbH, Venus Pharma GmbH, Himalaya Global Holdings Ltd., Dabur India Ltd., Blackmores Ltd., Dr. Willmar Schwabe India Pvt. Ltd., Lotus Herbals Pvt Ltd, Arkopharma Laboratories Co. Ltd., Kunnath Pharmaceuticals, Bayer AG and ZeinPharma Germany GmbH.

Key Developments:

In February 2021, Vitamin manufacturer Blackmores will try to expand its company beyond China, with CEO Alastair Symington optimistic that the wellness brand can build a dedicated following in India.

In March 2021, Lotus, one of India's popular beauty companies, launched the Lotus Botanicals brand. Through this e-commerce brand, consumers will be able to order Lotus Botanicals' range of skin and hair care products only through Lotus Botanicals and other third-party eCommerce channels.

In June 2020, Dr. Willmar Schwabe India bought Sanat Products Limited. With this acquisition, the firm will expand its OTC distribution network, which will complement its existing distribution network across India. In the next five years, the organization hopes to have a strong Pan-India presence.

In November 2020, Kunnath Pharmaceuticals, a maker of herbal products from India, launched antiviral immunity booster capsules under the brand name 'Viromune' across India. Through this launch, the company is looking to achieve a turnover of USD 266 million in the next three years.

In August 2019, Himalaya Drug Company announced the launch of Shahicool Herbal Sharbat and Gripe Water. Pure Herbs, Forest Honey, Throat Lozenges, and Chyvanaprasha are the other goods in the consumer health division’s portfolio, which now totals six.

Products Covered:
• Medicinal Part
• Medicine Function
• Active Ingredient

Sources Covered:
• Fruits and vegetables
• Leaves
• Barks
• Roots
• Other Sources

Category Covered:
• Herbal Pharmaceuticals
• Herbal Beauty Products
• Herbal Dietary Supplements
• Herbal Functional Foods

Medicinal Plants Covered:
• Aloe Vera
• Marrubium Vulgare
• Cinnamomum Spp
• Echinacea
• Curcuma Longa
• Camellia Sinensis
• Allium Sativum
• Vaccinium Macrocarpon
• Zingiber Officinale
• Actaea Racemose
• Cocos Nucifera

Forms Covered:
• Tablets & Capsules
• Syrups
• Powders
• Extracts

Distribution Channels Covered:
• Hospitals and Retail Pharmacies
• E-commerce

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements