Report Scope:
The scope of the herbal medicine market is extensive and continues to expand as more people seek alternative and natural remedies for various health conditions. The herbal medicine market has experienced significant growth in recent years, and this growth is projected to continue. Factors such as increasing awareness of herbal remedies, rising health consciousness, and a preference for plant-based products contribute to this growth.
BCC Research analyzes each market and its applications, the regulatory environments, the technologies involved, and market projections and shares. Technologies covered include the latest trends and developments. The report informs all market players, potential entrants, government agencies, and other interested parties. As the report covers geographic regions in detail, companies interested in expanding their geographic reach will also find this study helpful. This report also covers merger and acquisition strategies and collaborations,as well as emerging technologies.
Report Includes:
- 34 data tables and 40 additional tables
- An overview of the current and future global markets for herbal medicines
- Analyses of the global market trends, with historical market revenue data (sales figures) for 2021-2022, estimates for 2023, forecasts for 2024, and projections of compound annual growth rates (CAGRs) through 2028
- Estimates of the market size. and a revenue forecast for the global market in USD millions, and a corresponding market share analysis based on the product type, dosage form, application area, distribution/sales channel and region
- In-depth information (facts and figures) concerning the market drivers, opportunities and challenges, prospects, technologies, regulatory scenarios, and impact of macroeconomic variables
- Evaluation of scientific evidence supporting the efficacy and safety of herbal medicines for various health conditions
- A discussion of ESG developments, with emphasis on the importance of ESG, consumer attitudes, assessment of risks and opportunities, and ESG practices of the leading companies
- A look at the major vendors in the global market, and an analysis of the industry structure, including recent M&A activity and venture funding
Patent analysis
- Company profiles of major players within the industry, including Bayer AG., Herbalife Nutrition Ltd., Dabur India Ltd., Patanjali Ayurved Ltd., and Blackmores Group.
Summary:
The global market for herbal medicine has consistently expanded over the years, with rising demand particularly evident in developing nations. This phenomenon can be attributed to several factors, including population growth, the recognized health advantages of herbal products, and the perception of these products as safer and more economically viable alternatives to pharmaceutical drugs. The increasing significance of herbal medicinal products globally is driven primarily by their positive impact on health and well-being.
Large segments of the population in developing countries heavily rely on traditional practitioners and herbal medicines as their primary healthcare option. In Africa and India, up to REDACTED% and REDACTED% of the population, respectively, turn to traditional medicine for their health needs. Notably, traditional medicine contributes to approximately REDACTED% of healthcare in China, with most general hospitals having dedicated traditional medicine units. In the U.S., about REDACTED% of adults and REDACTED% of children have embraced some form of traditional medicine.
The World Health Organization (WHO) plays a pivotal role in shaping the herbal medicine landscape, and this active involvement is expected to influence market demand significantly. Several key facts underscore the importance of the WHO's contribution to the herbal medicine sector. Almost 90% of WHO member states globally have developed policies, laws, regulations, programs, and offices for traditional and complementary medicine (T&CM) that are aligned with the WHO's Global Traditional and Complementary Medicine Strategy 2014-2023. The WHO has made efforts to raise public awareness about the benefits and potential risks of herbal medicine among consumers and healthcare providers. This informed approach promotes responsible usage and further fuels market demand.
In 2022, the American Herbal Products Association became the most important trade group for herbs and medicinal plants in the U.S. This achievement is expected to boost the American market related to these products.
The shift in public perception also drives the demand for herbal medicines, which offer distinct advantages over synthetic pharmaceutical drugs. The characteristic of lower toxicity and enhancements in national traditional and complementary medicine governance and infrastructure will further drive the market growth.
The global market for herbal medicines was valued at $REDACTED billion in 2022 and is forecast to grow at a CAGR of REDACTED% to reach a value of $REDACTED billion by the end of 2028. The major players in the market are Bayer AG, Herbalife Nutrition Ltd., Dabur India Ltd., Patanjali Ayurved Ltd., and Blackmores Group.
Global Herbal Medicine Market
Table of Contents
Chapter 1 Introduction
Introduction
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
Methodology
Information Sources
Geographic Breakdown
Chapter 2 Summary and Highlights
Market Overview
Chapter 3 Market and Technology Background
Herbal Medicine
History of Herbal Medicine
Different Approaches to Herbalism
Western Herbalism
Traditional Chinese Medicine (TCM)
Ayurveda
Others
Sources
Medicinal Plant Parts in Herbal Medicine
Active Ingredients in Herbal Medicines
Chapter 4 Market Dynamics
Factors Affecting the Market for Herbal Medicine
Market Drivers
Market Barriers
Future Opportunities
Impact of COVID-19 on Market for Herbal Medicine
Chapter 5 Market Breakdown by Source
Introduction
Market by Source
Market Overview
Market Size and Forecast
Medicinal Plant Parts
Market Size and Forecast
Active Ingredients
Market Size and Forecast
Chapter 6 Market Breakdown by Type
Introduction
Global Market Size and Forecast
Western Herbalism
Market Size and Forecast
Traditional Chinese Medicine
Market Size and Forecast
Ayurveda
Market Size and Forecast
Others
Market Size and Forecast
Chapter 7 Market Breakdown by Application
Introduction
Global Market Size and Forecast
Pharmaceuticals and Nutraceuticals
Market Size and Forecast
Personal Care and Beauty Products
Market Size and Forecast
Food and Beverages
Market Size and Forecast
Chapter 8 Market Breakdown by Form
Introduction
Global Market Size and Forecast
Tablets and Capsules
Market Size and Forecast
Liquids and Gels
Market Size and Forecast
Others
Market Size and Forecast
Chapter 9 Market Breakdown by Distribution Channel
Introduction
Global Market Size and Forecast
Retail Pharmacy
Market Size and Forecast
Hospital Pharmacy
Market Size and Forecast
Online Pharmacy
Market Size and Forecast
Others
Market Size and Forecast
Chapter 10 Market Breakdown by Region
Introduction
North America
The U.S.
Canada
Europe
The U.K.
Germany
France
Spain
Italy
Russia
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia-Pacific
Rest of the World
Market Size and Forecast
Chapter 11 Regulatory Aspects
Introduction
WHO Guidelines for Herbal Medicines
European Union Guidelines for Herbal Medicines
Chapter 12 Emerging/Upcoming Technologies
Introduction
Herbal Medicine Research and Analysis Tools
Nanotechnology
Phytopharmaceuticals and Standardization
Personalized Herbal Medicine
Blockchain for Herbal Product Traceability
Plant Biotechnology
Bioinformatics and Data Mining
Future Opportunities
Chapter 13 ESG Development
Introduction
Environmental Factors in the Market for Herbal Medicine
Social Factors in the Market for Herbal Medicine
Governance Factors in the Market for Herbal Medicine
Case Study
BCC Research Viewpoint
Chapter 14 Patent Review/New Developments
Overview
Patent Analysis by Year
Chapter 15 Competitive Landscape
Mergers, Acquisitions and Collaborations
Herbal Medicine Company Market Shares
Chapter 16 Company Profiles
21ST CENTURY HEALTHCARE INC.
AFRIPLEX
BAYER AG
BEIJING TONG REN TANG
BIO-BOTANICA
BLACKMORES GROUP
BOIRON USA
CHRISTARA INC.
Dabur
GAIA HERBS INC.
HERBALIFE NUTRITION LTD.
HIMALAYA WELLNESS CO.
NATIVE CIRCLE LLP
NATURE'S ANSWER LLC
NUTRACEUTICAL INTERNATIONAL
PATANJALI AYURVED LTD.
RICOLA AG
SCHWABE GROUP
WELEDA AG
ZANDU REALTY LTD.
ZEINPHARMA GERMANY GMBH
List of Tables
Summary Table A : Global Market for Herbal Medicine, Through 2028
Summary Table B : Global Market for Herbal Medicine, by Type, Through 2028
Table 1 : Plant Part Used for Medicinal Purposes
Table 2 : Major Active Plant Ingredients
Table 3 : Top-selling Herbal Medicines in the U.S., 2020
Table 4 : Member States with Herbal Medicines Included in NEML
Table 5 : Global Market for Herbal Medicine, by Source, Through 2028
Table 6 : Global Market for Medicinal Plant Part-Based Herbal Medicine, by Region, Through 2028
Table 7 : Primary Active Ingredients of Medicinal Plants
Table 8 : Global Market for Active Ingredient-Based Herbal Medicine, by Region, Through 2028
Table 9 : Global Market for Herbal Medicine, by Type, Through 2028
Table 10 : Global Market for Western Herbalism, by Region, Through 2028
Table 11 : Major Approved Preparations Used in Traditional Chinese Medicine (TCM)
Table 12 : Global Market for Chinese Herbal Medicine, by Region, Through 2028
Table 13 : Global Market for Ayurvedic Medicne, by Region, Through 2028
Table 14 : Global Market for Other Types of Herbal Medicine, by Region, Through 2028
Table 15 : Global Market for Herbal Medicine, by Application, Through 2028
Table 16 : Major Herbs Used to Treat Cancer Symptoms
Table 17 : Global Market for Herbal Medicine in Pharmaceutical and Nutraceutical Applications, by Region, Through 2028
Table 18 : Global Market for Herbal Medicine in Personal Care and Beauty Product Applications, by Region, Through 2028
Table 19 : Global Market for Herbal Medicine in Food and Beverage Applications, by Region, Through 2028
Table 20 : Global Market for Herbal Medicine, by Form, Through 2028
Table 21 : Global Market for Herbal Medicine in Tablet and Capsule Forms, by Region, Through 2028
Table 22 : Global Market for Herbal Medicine in Liquid and Gel Forms, by Region, Through 2028
Table 23 : Global Market for Herbal Medicine in Other Forms, Through 2028
Table 24 : Global Market for Herbal Medicine, by Distribution Channel, Through 2028
Table 25 : Total U.S. Retail Sales of Herbal Supplements, 2015-2021
Table 26 : Global Market for Herbal Medicine Distributed by Retail Pharmacies, by Region, Through 2028
Table 27 : Global Market for Herbal Medicine Distributed by Hospital Pharmacies, by Region, Through 2028
Table 28 : Global Market for Herbal Medicine Distributed by Online Pharmacies, by Region, Through 2028
Table 29 : Global Market for Herbal Medicine Distributed through Other Distribution Channels, by Region, Through 2028
Table 30 : Global Market for Herbal Medicine, by Region, Through 2028
Table 31 : North American Market for Herbal Medicine, by Country, Through 2028
Table 32 : European Market for Herbal Medicine, by Country, Through 2028
Table 33 : Indications for the Use of Herbal Medicine in Germany, 2019
Table 34 : Asia-Pacific Market for Herbal Medicine, by Country, Through 2028
Table 35 : WHO Guidelines for Herbal Medicine
Table 36 : Legal Authority of Herbal Drug Regulations in Various Countries
Table 37 : Nanostructured Herbal Formulations
Table 38 : Analytical Techniques to Study the Chemical Composition and Properties of Herbal Extracts
Table 39 : SDGs for the Market for Herbal Medicine
Table 40 : ESG Rankings for Major Companies in the Market for Herbal Medicine, 2023
Table 41 : ESG Trends of Major Players, 2022
Table 42 : Patent Analysis, by Year, 2020-August 2023
Table 43 : Major Companies' Patents, 2022-March 2023
Table 44 : Mergers and Acquisitions: Herbal Medicine Companies, 2019-2023
Table 45 : 21st Century HealthCare Inc.: Product Portfolio
Table 46 : Afriplex: Product Portfolio
Table 47 : Bayer AG: Annual Financials/Revenue, 2021 and 2022
Table 48 : Bayer AG: Product Portfolio
Table 49 : Blackmores Group: Annual Financials/Revenue, 2021 and 2022
Table 50 : Blackmores Group: News, 2019-2023
Table 51 : Blackmores Group: Product Portfolio
Table 52 : Boiron USA: Product Portfolio
Table 53 : Dabur: Annual Financials/Revenue, 2021 and 2022
Table 54 : Dabur: News, 2019-2023
Table 55 : Dabur: Product Portfolio
Table 56 : Gaia Herbs Inc.: News, 2020 and 2021
Table 57 : Gaia Herbs Inc.: Product Portfolio
Table 58 : Herbalife Nutrition Ltd.: Annual Financials/Revenue, 2021 and 2022
Table 59 : Herbalife Nutrition Ltd.: Product Portfolio
Table 60 : Himalaya Wellness Co.: Product Portfolio
Table 61 : Native Circle LLP: Product Portfolio
Table 62 : Nature's Answer LLC: News, 2023
Table 63 : Nature's Answer LLC: Product Portfolio
Table 64 : Nutraceutical International Corp.: Product Portfolio
Table 65 : Patanjali Ayurved Ltd.: Product Portfolio
Table 66 : Patanjali Ayurved Ltd.: Annual Financials/Revenue, 2021 and 2022
Table 67 : Schwabe Group: News, 2022 and 2023
Table 68 : Schwabe Group: Product Portfolio
Table 69 : Weleda Group: Annual Financials/Revenue, 2021 and 2022
Table 70 : Weleda Group: Product Portfolio
Table 71 : Zandu: Product Portfolio
Table 72 : ZeinPharma Germany GmbH: Product Portfolio
List of Figures
Summary Figure A : Global Market for Herbal Medicine, 2020-2028
Summary Figure B : Global Market for Herbal Medicine, by Type, 2020-2028
Figure 1 : Growth in the Number of Member States with a National Policy on T&CM, 1999-2018
Figure 2 : Growth in the Number of Member States with a National Research Institute for T&CM, 1999-2018
Figure 3 : Growth in the Number of Member States with Regulation of Herbal Medicine, 1999-2018
Figure 4 : Global Market for Herbal Medicine, by Source, 2020-2028
Figure 5 : Global Market Shares of Herbal Medicine, by Source, 2022
Figure 6 : Global Market for Medicinal Plant Part-Based Herbal Medicine, by Region, 2020-2028
Figure 7 : Global Market for Active Ingredient-Based Herbal Medicine, by Region, 2020-2028
Figure 8 : Global Market for Herbal Medicine, by Type, 2020-2028
Figure 9 : Global Market Shares of Herbal Medicine, by Type, 2022
Figure 10 : Major Herbs Used in Western Herbalism
Figure 11 : Global Market for Western Herbalism, by Region, 2020-2028
Figure 12 : Major Herbs Used in Traditional Chinese Medicine
Figure 13 : Global Market for Chinese Herbal Medicine, by Region, 2020-2028
Figure 14 : Major Herbs Used in Ayurveda
Figure 15 : Global Market for Ayurvedic Medicne, by Region, 2020-2028
Figure 16 : Global Market for Other Types of Herbal Medicine, by Region, 2020-2028
Figure 17 : Global Market for Herbal Medicine, by Application, 2020-2028
Figure 18 : Global Market Shares of Herbal Medicine, by Application, 2022
Figure 19 : Global Market for Herbal Medicine in Pharmaceutical and Nutraceutical Applications, by Region, 2020-2028
Figure 20 : Global Market for Herbal Medicine in Personal Care and Beauty Product Applications, by Region, 2020-2028
Figure 21 : Global Market for Herbal Medicine in Food and Beverage Applications, by Region, 2020-2028
Figure 22 : Global Market for Herbal Medicine, by Form, 2020-2028
Figure 23 : Global Market Shares of Herbal Medicine, by Form, 2022
Figure 24 : Global Market for Herbal Medicine in Tablet and Capsule Forms, by Region, 2020-2028
Figure 25 : Global Market for Herbal Medicine in Liquid and Gel Forms, by Region, 2020-2028
Figure 26 : Global Market for Herbal Medicine in Other Forms, by Region, 2020-2028
Figure 27 : Global Market for Herbal Medicine, by Distribution Channel, 2020-2028
Figure 28 : Global Market Shares of Herbal Medicine, by Distribution Channel, 2022
Figure 29 : Global Market for Herbal Medicine Distributed by Retail Pharmacies, by Region, 2020-2028
Figure 30 : Global Market for Herbal Medicine Distributed by Hospital Pharmacies, by Region, 2020-2028
Figure 31 : Global Market for Herbal Medicine Distributed by Online Pharmacies, by Region, 2020-2028
Figure 32 : Global Market for Herbal Medicine Distributed through Other Distribution Channels, by Region, 2020-2028
Figure 33 : Global Market for Herbal Medicine, by Region, 2020-2028
Figure 34 : Global Market Shares of Herbal Medicine, by Region, 2022
Figure 35 : North American Market for Herbal Medicine, by Country, 2020-2028
Figure 36 : The U.S. Market for Herbal Medicine, 2020-2028
Figure 37 : Canadian Market for Herbal Medicine, 2020-2028
Figure 38 : European Market for Herbal Medicine, by Country, 2020-2028
Figure 39 : The U.K. Market for Herbal Medicine, 2020-2028
Figure 40 : German Market for Herbal Medicine, 2020-2028
Figure 41 : French Market for Herbal Medicine, 2020-2028
Figure 42 : Spanish Market for Herbal Medicine, 2020-2028
Figure 43 : Italian Market for Herbal Medicine, 2020-2028
Figure 44 : Russian Market for Herbal Medicine, 2020-2028
Figure 45 : Rest of European Market for Herbal Medicine, 2020-2028
Figure 46 : Asia-Pacific Market for Herbal Medicine, by Country, 2020-2028
Figure 47 : Japanese Market for Herbal Medicine, 2020-2028
Figure 48 : Chinese Market for Herbal Medicine, 2020-2028
Figure 49 : Indian Market for Herbal Medicine, 2020-2028
Figure 50 : Australian Market for Herbal Medicine, 2020-2028
Figure 51 : Rest of Asia-Pacific Market for Herbal Medicine, 2020-2028
Figure 52 : Rest of the World Market for Herbal Medicine, 2020-2028
Figure 53 : Various Methods of Preparation Using Nanotechnology for Herbal Drugs and Nutraceuticals
Figure 54 : Environmental, Social and Governance Factors in the Herbal Medicine Industry
Figure 55 : How a Strong ESG Propositions Benefit Herbal Medicine Businesses
Figure 56 : Shares of Patents on Herbal Medicine, by Country/Region, 2020-August 2023
Figure 57 : Global Market Shares of Herbal Medicine, by Key Manufacturers and Suppliers, 2022
Figure 58 : Bayer AG: Annual Financials/Revenue, 2021 and 2022
Figure 59 : Bayer AG: Revenue Share, by Business Unit, 2022
Figure 60 : Bayer AG: Revenue Share, by Region, 2022
Figure 61 : Blackmores Group: Annual Financials/Revenue, 2021 and 2022
Figure 62 : Blackmores Group: Revenue Share, by Region/Country, 2022
Figure 63 : Dabur: Annual Financials/Revenue, 2021 and 2022
Figure 64 : Dabur: Revenue Share, by Business Unit, 2022
Figure 65 : Dabur: Revenue Share, by Region, 2022
Figure 66 : Herbalife Nutrition Ltd.: Annual Financials/Revenue, 2021 and 2022
Figure 67 : Herbalife Nutrition Ltd.: Revenue Share, by Business Unit, 2022
Figure 68 : Herbalife Nutrition Ltd.: Revenue Share, by Region, 2022
Figure 69 : Patanjali Ayurved Ltd.: Annual Financials/Revenue, 2021 and 2022
Figure 70 : Patanjali Ayurved Ltd.: Revenue Share, by Business Unit, 2022
Figure 71 : Weleda Group: Annual Revenue, 2021 and 2022
Figure 72 : Weleda AG: Revenue Share, by Business Unit, 2022
Figure 73 : Weleda Group: Revenue Share, by Region, 2022
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