Medicinal Herbs Market

Medicinal Herbs Market is accounted for USD 85,300 million in 2020, growing at a robust CAGR of 18.9% during forecast period.

Medicinal Herbs Market Overview

Medicinal herbs can be defined as a dietary supplement extracted from different parts of the plant such as bark, leaves, seeds, oil, berries, and roots. It is being used since ancient time for the treatment of various diseases. These medicinal herbs are available in various dosage such as powders, capsules, tablets, and syrups plant extracts forms by adopting new innovative methods.

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Major Medicinal Herbs Market Drivers

The factors driving the global Medicinal Herbs Market include an increase in the prevalence of chronic diseases such as diabetes, arthritis, cancer, digestive problems, and sleep disorders, that has boosted the market growth during the forecast period. For instance, according to CDC, in 2021, chronic diseases are the leading causes of death as 6 in 10 adults in the United States have a chronic disease with leading drivers of the nation’s USD 3.8 trillion in annual health care costs. Moreover, an increase in the research and development in medicinal herbs is likely to boost this market’s growth. For instance, due to the covid pandemic situation, several players such as Dabur, organic, etc., have invented kasha’s, an herbal drink to boost immunity. Kadha’s are also being promoted by many governments such as India government (AYUSH) are briefing the health benefits such as immunity booster for health. Thus, this factor has boosted the growth of this market.

Restraint in the Medicinal Herbs Market

However, the issue related to the risk of allergic reactions with fennel, parsley, ragweed, Echinacea, artichoke, dandelions, hibiscus etc and side effects of consuming these herbs such as infection, stomach-ache, etc., hampering the growth of medicinal herbs market.

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Categories – Segment Analysis

Based on the categories, herbal pharmaceuticals are expected to grow at a higher CAGR rate in the global medicinal herbs market during the forecast period owing to the increase in the prevalence of the chronic diseases such as diabetes, arthritis, cancer, digestive problems etc and increase in the adoption of herbal medicine due to its less cost. Furthermore, launching of new products by pharmaceuticals company has also boosted the growth of this market. For instance, in 2020, Kunnath Pharmaceuticals has launched antiviral immunity booster capsules in India which is known as Viromune.

Distribution Channels – Segment Analysis

Based on the Distribution Channels, E-commerce segment is expected to grow at a higher CAGR rate in the global medicinal herbs market during the forecast period due to the rising awareness regarding the benefits of herbs, easy accessibility in small villages & town due to e-commerce delivery. Additionally, rise in the penetration of smart phones and internet facilities has boosted the growth of this segment.

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Regional – Segment Analysis:

Based on the region, the Asia Pacific region is expected to grow at a higher CAGR rate in the global medicinal herbs market during the forecast period due to the growing awareness about the benefits of herbal medicines and demand for natural based products. China and India are expected to be the most driving markets in the forecast period. The lower cost of the medicines is likely to be boosting factor for the market in this region. India is a hub for herbal medicines as the practice of the Ayurveda System has been since the Vedic era. Moreover, the increasing investment and the implementation of supportive policies by the Government. For instance, India government is financially supporting its national Ayush scheme through Centrally Sponsored and Central Sector Schemes are likely to boost the growth of this market.

Top Market Players

Various notable players operating in the market, include, Falcon Trading International, Wszelkie prawa zastrzeżone, Piante officinali san marco, Yogi Globals, Chenyang Chemical Group, Bayer AG, Himalaya Wellness Company, Venus Pharma GmbH., Arizona Natural Products, Arkopharma, among others.

Key Developments:

• • In Feb 2021, Blackmores announced its launch into the Indian market, reaching the local consumers in association with the Amazon India and other major ecommerce platforms before the expansion to traditional retailers.
  • In Aug 2019, Himalaya Drug Company announced the launch of the Shahicool Herbal Sharbat and Gripe Water. This launch has extended the portfolio of the company’s consumer health division to six products.

Segments covered in the Report:

The global Medicinal Herbs Market has been segmented on the basis of Categories, Distribution Channels, and regions. Based on Categories, the market is segmented into Herbal Pharmaceuticals, Herbal Dietary Supplements and Herbal Beauty Products. Based on Distribution Channels, the market is segmented into Hospitals, E-commerce, and Retail Pharmacies.

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Market Segmentation

Global Medicinal Herbs Market by Categories

• • Herbal Pharmaceuticals
  • Herbal Dietary Supplements
  • Herbal Beauty Products

Global Medicinal Herbs Market by Distribution Channels

• • Hospitals
  • E-commerce
  • Retail Pharmacies

Global Medicinal Herbs Market by Region

• • North America Medicinal Herbs Market (Option 1: As a part of the free 25% customization)

    • North America Medicinal Herbs Market by Categories
    • North America Medicinal Herbs Market by Distribution Channels
    • US Medicinal Herbs Market All-Up
    • Canada Medicinal Herbs Market All-Up

  • Europe Medicinal Herbs Market (Option 2: As a part of the free 25% customization)

    • Europe Medicinal Herbs Market by Categories
    • Europe Medicinal Herbs Market by Distribution Channels
    • UK Medicinal Herbs Market All-Up
    • Germany Medicinal Herbs Market All-Up
    • France Medicinal Herbs Market All-Up
    • Spain Medicinal Herbs Market All-Up
    • Rest of Europe Medicinal Herbs Market All-Up

  • Asia-Pacific Medicinal Herbs Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Medicinal Herbs Market by Categories
    • Asia-Pacific Medicinal Herbs Market by Distribution Channels
    • China Medicinal Herbs Market All-Up
    • India Medicinal Herbs Market All-Up
    • Japan Medicinal Herbs Market All-Up
    • Rest of APAC Medicinal Herbs Market All-Up

  • RoW Medicinal Herbs Market (Option 4: As a part of the free 25% customization)

    • RoW Medicinal Herbs Market by Categories
    • RoW Medicinal Herbs Market by Distribution Channels
    • Brazil Medicinal Herbs Market All-Up
    • South Africa Medicinal Herbs Market All-Up
    • Saudi Arabia Medicinal Herbs Market All-Up
    • UAE Medicinal Herbs Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Medicinal Herbs Market All-Up

Major Players Operating in the Market Name (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Falcon Trading International
  • Wszelkie prawa zastrzeżone
  • Piante officinali san marco
  • Yogi Globals
  • Chenyang Chemical Group
  • Bayer AG
  • Himalaya Wellness Company
  • Venus Pharma GmbH.
  • Arizona Natural Products
  • Arkopharma