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Rising Utilization Of Herbal Products In The Pharmaceutical Industry Fuels Herbal Medicine Market: A Key Factor Shaping the Future of the Herbal Medicine Market in 2025
Herbal Medicine Market
The escalating adoption of herbal products within the pharmaceutical industry is anticipated to drive the expansion of the herbal medicine market. Herbal products, which include any medication involving one or more herbal substances or preparations, or a mixture of both as active ingredients, are gaining ground in medicinal applications. Their use in the pharmaceutical arena is bolstering the herbal medicine market's growth. To illustrate, a study released by Glanbia Nutritionals (NA) Inc, a US-based firm offering dairy and non-dairy solutions, in February 2024 reveals that the herbal supplement market in the United States is worth $5.9 billion. Furthermore, it is projected to grow at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2027. It thus stands that the growing preference for herbal products within the pharmaceutical industry is a key driver for the herbal medicine market's growth.
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What growth opportunities are expected to drive the herbal medicine market's CAGR through 2034?
The size of the herbal medicine market has significantly expanded in the last few years. It is projected to rise from $214.32 billion in 2024 to $235.5 billion in 2025, boasting a compound annual growth rate (CAGR) of 9.9%. The expansion during the historic period can be linked to traditional practices, the absence of modern medicine, cultural heritage, and a natural, holistic approach along with historical documentation.
The market size of herbal medicine is predicted to experience a swift expansion in the coming years. The market is set to soar to $356.25 billion by the year 2029, growing at a compound annual growth rate (CAGR) of 10.9%. Factors contributing to the growth expected in the forecast period include the burgeoning wellness industry, environmental sustainability, an increase in chronic health conditions, a surge in consumer demand for natural products, and the inflow of funding for clinical trials and research. Some of the notable trends anticipated during the forecast period involve standardization and quality assurance, the incorporation of digital health, adaptogen and stress management, herbal supplements and nutraceuticals, and collaboration with conventional medicine.
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What are the emerging trends shaping the future of the herbal medicine market?
Innovation in product development is an emerging trend in the market for herbal medicine. Key players in the sector are utilizing novel technologies to maintain their market standing. For example, in September 2022, BASF SE, a chemical company from Germany, unveiled Phytocine, a next-generation product inspired by Traditional Chinese Medicine. Phytocine aims to address skin problems that can be treated with Traditional Chinese Medicine. These preservation-free, wholly natural innovative active ingredients focus on personal skincare benefits such as enhancing skin hydration and barrier function (Phytocine AQUA), diminishing signs of aging and oxidation (Phytocine NOVO), and soothing sensitive skin (Phytocine CALM).
Which growth-oriented segments of the herbal medicine market are leading the industry's development?
The herbal medicine market covered in this report is segmented -
1) By Product: Capsules And Tablets, Powders, Extracts, Syrups, Other Products
2) By Category: Herbal Pharmaceuticals, Herbal Functional Foods, Herbal Dietary Supplements, Herbal Beauty Products
3) By Distribution Channel: Hospitals, Retail Pharmacies, E-commerce
4) By Application: Pharmaceutical And Nutraceutical, Food And Beverages, Personal Care And Beauty Products
Subsegments:
1) By Capsules And Tablets: Herbal Capsules, Herbal Tablets
2) By Powders: Single Herb Powders, Blend Powders
3) By Extracts: Liquid Extracts, Dry Extracts, Standardized Extracts
4) By Syrups: Herbal Syrups, Cough Syrups
5) By Other Products: Teas, Tinctures, Ointments And Creams
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What regions are leading the charge in the herbal medicine market?
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.
What companies are at the forefront of innovation in the herbal medicine market?
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 & Brümmer 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
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What Is Covered In The Herbal Medicine Global Market Report?
• Market Size Forecast: Examine the herbal medicine market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the herbal medicine market for a structured understanding.
• Key Players Overview: Analyze major players in the herbal medicine market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the herbal medicine market.
• Segment Contributions: Evaluate how different segments drive overall growth in the herbal medicine market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the herbal medicine market.
• Industry Challenges: Identify potential risks and obstacles affecting the herbal medicine market.
• Competitive Landscape: Review strategic developments in the herbal medicine market, including expansions, agreements, and new product launches.
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