Herbal Medicine Market Revenue, Driving Factors, Key Players, Strategies, Trends, Forecast Till 2030

The Herbal Medicine Market is estimated to grow at a 5.88% CAGR to USD136024.26 million by 2030. Herbal medicines are nutritional supplements made from various plant parts such as leaves bark, seeds, berries, and roots. In addition to pills, extracts, and dried herbs, herbal medications are available in a variety of dose forms.

Consumer preference for traditional treatments and rising demand for natural medicines are projected to boost the Herbal Medicine Market in the coming years. Increasing research investment for herbal medicines, as well as diverse uses for herbal medicines, are also expected to enhance the market in the next years. As liver and heart diseases become more common, the market is expected to grow. The lack of knowledge about the use and dosage of herbal medications, on the other hand, is impeding the growth of the market. Furthermore, recent technological breakthroughs and increased R&D expenditure in the healthcare industry present profitable prospects for key market participants.

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Market Segmentation

• By Category
The herbal pharmaceuticals, herbal functional foods, herbal dietary supplements, and herbal beauty products segments of the market are based on category. The Herbal Pharmaceuticals category is likely to dominate the market. The factors can be ascribed to increased public awareness and the growing senior population.

• By Form
The market is divided based on the form into Capsules and tablets, Powders, Extracts, Syrups, and Others. Because extracts have a better absorption rate than other forms of dose, the extracts segment is expected to have the highest CAGR during the estimated period.

• By Source
The market is divided into Leaves, Roots & Barks, Fruits, Whole Plants, and Others, based on the source. Whole Plants is predicted to have the biggest market share. These elements are responsible for the product's ability to cure numerous ailments. Traditional remedies are derived from the plant's roots and barks, leaves, fruits, flowers, stalk, and cloves.

• By Distribution Channel
The market is divided into two segments based on the distribution channel: hospitals and retail pharmacies, and e-commerce. The E-commerce segment is expected to have the highest CAGR during the estimated period. The factors can be ascribed to simple accessibility in small towns and villages, high penetration of mobile phones with an internet connection, and growing awareness of traditional medicine.

List of Key Players Covered in the Report
• Arkopharma
• Bayer AG
• BEOVITA
• Hishimo Pharmaceuticals
• Schaper & Brümmer
• ZeinPharma Germany GmbH
• Venus Pharma GmbH
• Dasherb Corp.
• Arizona Natural Products
• Blackmores
• Himalaya Global Holdings Ltd
• Dr. Willmar Schwabe India Pvt. Ltd.

Regional Classification
During the projection period, Europe is expected to dominate the global market. Growing R&D for herbal medicines and increased investment in the market is expected to be important factors driving the market. The Americas will get the second-largest market share. Because of the growing prevalence of chronic illness among the world's population, the Americas are expected to have the second-largest market share during the study period. The fastest-growing region will be APAC during the forecast period. Because of growing awareness about the benefits of herbal medicines, APAC is expected to be the fastest expanding region over the projection period. India and China are predicted to be the most profitable markets during the assessment period.

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Industry News
In June 2020, Dr. Willmar Schwabe India will acquire Sanat Products Limited. This acquisition will allow the company to extend its OTC distribution network, which will complement its existing distribution network in India. The organization intends to have a strong Pan-India presence within the next five years. In February 2021, vitamin producer Blackmores will attempt to expand outside China, with CEO Alastair Symington certain that the health brand can create a loyal following in India.

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This release was published on openPR.