PUBLISHER: The Business Research Company | PRODUCT CODE: 1669694
PUBLISHER: The Business Research Company | PRODUCT CODE: 1669694
Herbal medicine involves the utilization of plants for the treatment of illness and the enhancement of overall health and well-being. It encompasses the use of plant roots, stems, leaves, blossoms, or seeds to improve health, prevent diseases, and address various health conditions.
The primary forms of herbal medicine products include capsules and tablets, powders, extracts, syrups, and other formulations. Herbal pharmaceuticals, as a branch of pharmaceutical science, focus on the development, production, and utilization of pharmaceutical products derived from herbal or botanical sources. These products fall into categories such as herbal pharmaceuticals, herbal functional beverages, herbal dietary supplements, and herbal beauty products. They are distributed through diverse channels, including hospitals, retail pharmacies, and e-commerce platforms. The applications span across pharmaceutical and nutraceutical, food and beverages, as well as personal care and beauty products.
The herbal medicine market research report is one of a series of new reports from The Business Research Company that provides herbal medicine market statistics, including herbal medicine industry global market size, regional shares, competitors with an herbal medicine market share, detailed herbal medicine market segments, market trends and opportunities, and any further data you may need to thrive in the herbal medicine industry. This herbal medicine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The herbal medicine market size has grown strongly in recent years. It will grow from $214.32 billion in 2024 to $235.5 billion in 2025 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to traditional practices, lack of access to modern medicine, cultural heritage, natural and holistic approach, historical documentation
The herbal medicine market size is expected to see rapid growth in the next few years. It will grow to $356.25 billion in 2029 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to growing wellness industry, environmental sustainability, rising chronic health conditions, consumer demand for natural products, clinical trials and research funding. Major trends in the forecast period include standardization and quality assurance, digital health integration, adaptogen and stress management, herbal supplements and nutraceuticals, collaboration with conventional medicine.
The growing use of herbal products in the pharmaceutical industry is anticipated to drive the expansion of the herbal medicine market. Herbal products are defined as medications containing one or more herbal substances, herbal preparations, or a combination of both as active ingredients. The incorporation of herbal products in the pharmaceutical sector is expected to boost demand for herbal medicines. For example, in February 2024, a report by Glanbia Nutritionals (NA) Inc., a US-based provider of dairy and non-dairy solutions, indicated that the US herbal supplement market is valued at $5.9 billion, with a projected compound annual growth rate (CAGR) of 4.3% from 2022 to 2027. As a result, the increasing use of herbal products in the pharmaceutical industry is propelling the growth of the herbal medicine market.
The increasing prevalence of chronic diseases is anticipated to propel the herbal medicine market's growth. Chronic diseases are long-term health conditions that persist over an extended period and often necessitate ongoing medical management and care. Herbal medicine is employed in the management of chronic diseases, providing natural remedies derived from plants to address symptoms and enhance overall health. For instance, global statistics from the World Health Organization indicate that annually, 74% of deaths caused by non-communicable diseases (NCDs) or chronic diseases amount to 41 million deaths globally. The specific breakdown includes 17.9 million deaths from cardiovascular diseases, 9.3 million deaths from cancer, 4.1 million deaths from chronic respiratory diseases, and 2.0 million deaths from diabetes. Moreover, a report from the National Institutes of Health (NIH) predicts a 99.5% increase in the number of people aged 50 and older with at least one chronic illness, from 71.522 million in 2020 to 142.66 million in 2050. Thus, the growing prevalence of chronic diseases is a significant driver for the herbal medicine market.
Product innovation stands out as a prominent trend gaining momentum in the herbal medicine market. Leading companies within the herbal medicine market are embracing innovative technologies to fortify their market positions. For example, in September 2022, BASF SE, a German-based chemical company, unveiled Phytocine, a cutting-edge line of traditional Chinese medicine (TCM)-inspired activities infused with scientific advancements. The Phytocine range specifically addresses various skin issues through TCM. These groundbreaking natural active ingredients, devoid of preservatives, focus on enhancing personal care skin benefits such as improving skin hydration and barrier function (Phytocine AQUA), reducing the appearance of aging and oxidation (Phytocine NOVO), and soothing sensitive skin (Phytocine CALM).
Prominent companies in the herbal medicine market are directing their efforts toward formulating natural products such as herbal cough syrup to provide respiratory relief and gain a competitive advantage. Herbal cough syrup comprises plant-based ingredients known for alleviating symptoms of cough and cold. For instance, in December 2022, Auretics Limited, an India-based online retail platform, introduced Sedoril, a meticulously researched herbal cough syrup. The 100ml syrup, produced by GMP & ISO certified partners, proves effective in expelling excessive Kapha, aiding in managing respiratory conditions such as bronchial asthma, facilitating breathing, and mitigating allergic reactions. Sedoril delivers swift relief for various coughs, colds, and sore throats, boasting antimicrobial and anti-allergic properties.
In January 2023, Dermapharm Holding SE, a German pharmaceutical company, successfully acquired Apharma TopCo SAS for an undisclosed amount. This strategic move enabled Dermapharm to intensify its internationalization efforts, securing a first-mover advantage in the French market and expanding its global presence in Western and Southern Europe. Apharma TopCo SAS, based in France, specializes in herbal medicinal products and food supplements.
Major companies operating in the herbal medicine market include Patanjali Ayurved Ltd., Dabur Ltd., NOW Foods, Boiron Group, Nature's Sunshine Products, Emami Ltd., Ricola AG, Young Living Essential Oils, Nature's Way, Swanson Health Products, Gaia Herbs, New Chapter, Bio-Botanica Inc., Schaper & Brummer GmbH & Co. KG, Traditional Medicinals, Herb Pharm, Nature's Answer, Nature's Bounty, Himalaya Global Holdings Ltd., Arizona Natural Products, Dasherb Corp, ZeinPharma Germany GmbH, Solaray, Hishimo Pharmaceuticals Pvt. Ltd., Beovita Deutschland GmbH & Co. KG, Dr. Willmar Schwable India Pvt. Ltd., Source Naturals
Europe was the largest region in the herbal medicine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the herbal medicine market report during the forecast period. The regions covered in the herbal medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the herbal medicine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The herbal medicine market consists of sales of herbal supplements, herbal remedies, and herbal teas. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Herbal Medicine Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on herbal medicine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for herbal medicine ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The herbal medicine market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.