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Herbal Medicines - Global Market Trajectory & Analytics

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    Report

  • 687 Pages
  • October 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5302363

Global Herbal Medicines Market to Reach $190.4 Billion by 2027

Amid the COVID-19 crisis, the global market for Herbal Medicines estimated at US$110.2 Billion in the year 2020, is projected to reach a revised size of US$190.4 Billion by 2027, growing at a CAGR of 8.1% over the period 2020-2027. Herbal Pharmaceuticals, one of the segments analyzed in the report, is projected to record a 8.6% CAGR and reach US$84.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Herbal Functional Foods segment is readjusted to a revised 7.9% CAGR for the next 7-year period.

The U.S. Market is Estimated at $20.6 Billion, While China is Forecast to Grow at 10.8% CAGR

The Herbal Medicines market in the U.S. is estimated at US$20.6 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$35.8 Billion by the year 2027 trailing a CAGR of 10.8% over the period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.4% and 7.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 6.5% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$29.2 Billion by the year 2027.

Herbal Beauty Products Segment to Record 5.1% CAGR

In the global Herbal Beauty Products segment, USA, Canada, Japan, China and Europe will drive the 5.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$11.4 Billion in the year 2020 will reach a projected size of US$15.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 5.8% CAGR through the analysis period.

Select Competitors (Total 234 Featured)

  • Arizona Natural Products
  • ARKOPHARMA Laboratories Company Limited
  • Bayer AG
  • Blackmores Ltd.
  • Dasherb Corp.
  • Dr. Willmar Schwabe India Pvt. Ltd.
  • Himalaya Wellness Company
  • Hishimo Pharmaceuticals Pvt. Ltd.
  • Schaper & Brümmer GmbH & Co. KG
  • ZeinPharma Germany GmbH

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to a digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Herbal Medicines

What is the estimated value of the Global Market for Herbal Medicines?

The Global Market for Herbal Medicines was estimated to be valued at $110.2 Billion in 2020.

What is the growth rate of the Global Market for Herbal Medicines?

The growth rate of the Global Market for Herbal Medicines is 8.1%, with an estimated value of $190.4 Billion by 2027.

What is the forecasted size of the Global Market for Herbal Medicines?

The Global Market for Herbal Medicines is estimated to be worth $190.4 Billion by 2027.

Who are the key companies in the Global Market for Herbal Medicines?

Key companies in the Global Market for Herbal Medicines include Arizona Natural Products, ARKOPHARMA Laboratories Company Limited, Bayer AG, Blackmores Ltd., Dasherb Corp., Dr. Willmar Schwabe India Pvt. Ltd., Himalaya Wellness Company, Hishimo Pharmaceuticals Pvt. Ltd. and ZeinPharma Germany GmbH.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy in 2021
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Role of Herbal Medicine in the Fight against Covid-19
  • Pandemic Leads to Increased Consumer Focus on Health and Wellness Products, Driving the Consumption of Herbal Supplements and Foods
  • Heal Thyself Motto amid COVID-19 Drives Uptake of Herbal Medicines
  • Herbal Medicines on the March as Mutant Versions of COVID-19 Virus Emerge
  • A Regional Overview of How Herbal Medicine has Gained Attention Amid the Pandemic
  • Herbal Medicines - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • A Prelude to Herbs
  • Herbal Medicine Market Insights
  • Outlook
  • Geographic Landscape
  • An Overview of Select Markets
  • Japan
  • China
  • China Gives Green Signal to Herbal Medicines to Expand COVID-19 Treatment Options
  • India
  • Salient Factors Establishing Phytopharmaceuticals as Promising Niche Market in India
  • South Korea
  • Cuba
  • Africa
  • Thailand
  • Why Few Herbal Medicines have Secured Approval as Prescription Medicines?
  • Recent Market Activity
  • World Brands
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Market to Gain from Mounting Concerns Over Side Effect Profile of Synthetic Drugs
  • Shifting Preference towards Traditional Medicines to Widen the Addressable Market
  • Rising Uptake of Medicinal Herbs Enriched Functional Foods
  • Herbal Supplements Gain Traction
  • Leaves, Roots Extracts Thrive Well
  • Key Trends and Products Shaping the Herbal Supplements Market
  • Rising Popularity of Curcumin & Turmeric Products
  • Consumer Focus on Self-Care Organic Products
  • Nutritional Deficiency & Sedentary Lifestyle Open New Avenues
  • Ashwagandha: A Star Performer
  • Fall of CBD Products
  • Adaptogens: Growing Role as a Stress Buster
  • Natural Garlic Herbal Supplements Gain Interest for Keeping a Healthy Heart
  • Ginkgo Biloba Gains Popularity for Treatment of Blood Disorders and Memory Disorders
  • Echinacea Gets Popular for Immune Stimulating Properties
  • St. John's Wort for Depression and Mood Disorders
  • Ginseng Supplements for Energy Boost
  • Ayurvedic Supplements Go Mainstream
  • Research Evidence Supports Positive Role of Herbal Remedies in Boosting Immunity and Stress Management
  • Changing Demographics and Growing Emphasis on Preventive Healthcare Boost Prospects
  • Demand for Traditional Chinese Medicine Surges amid the Pandemic
  • New Technologies Transform Chinese Herbal Medicine
  • Indian Ayurveda to Witness Rapid Worldwide Growth led by the Pandemic
  • Demand for Ashwagandha Containing Supplements to Soar
  • Growing Opportunities for Herbal Medicines in Beauty & Cosmetics Sector
  • Threat of Antimicrobial Resistance Drives Opportunities
  • Deaths from Antimicrobial Resistance to Increase by 2050
  • With Depression Increasingly Becoming a Common, Herbal Alternatives Gain Attention
  • Anti-Depressant Market: Percentage Share Breakdown by Depressive Disorder Type
  • Herbal Supplement Usage in Dentistry Surges amid Concerns
  • Rising Aging Population Drives Demand
  • Aging Population Steps-Up The Burden on Healthcare: Global Aging Population Statistics for the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Global Cost of Chronic Diseases (In US$ Billion) for the Years 2018 and 2030
  • Unique Healthcare Needs of Women Propel Demand for Various Herbal Supplements
  • Increasing Focus on Weight Management Spurs Demand for Herbs that Aid Weight Loss
  • Epidemic Proportions of Obesity Lead to Increased Focus on Weight Management
  • Obesity Prevalence Rate (%) in Select Countries for the Years 2019 and 2030P
  • Global Obesity Epidemic: Percentage of Overweight, Obese, and Severely Obese Adults for 2014 & 2025
  • Increasing Prevalence of Chronic & Lifestyle Diseases Enhances Consumer Demand
  • Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • Global Breakdown of Total Number of Cancer Cases by Type: 2020
  • World Diabetes and Population Statistics (2019, 2030 & 2045)
  • Global Annual Medical Cost of CVD in US$ Billion: 2010, 2015, 2020, 2025 and 2030
  • Urbanization Trend Drives Uptake of Herbal Supplements
  • World Urban Population in Thousands: 1950-2050P
  • Regulatory Regime for Herbal Medicine
  • The EU Regulatory System for Herbal Medicinal Products
  • Emerging Demand for CSR and Sustainable Sourcing
  • Key Challenges Hampering Growth Prospects for Herbal Medicines and Supplements
  • Risk Drug Interactions between Herbs and Conventional Drugs Challenge Market Prospects
  • Safety Assessment and Registration Requirements Restrict Herbal Medicinal Market
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Herbal Medicines by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 2: World Historic Review for Herbal Medicines by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 3: World 15-Year Perspective for Herbal Medicines by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2012, 2021 & 2027
  • Table 4: World Recent Past, Current & Future Analysis for Herbal Pharmaceuticals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 5: World Historic Review for Herbal Pharmaceuticals by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 6: World 15-Year Perspective for Herbal Pharmaceuticals by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 7: World Recent Past, Current & Future Analysis for Herbal Functional Foods by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 8: World Historic Review for Herbal Functional Foods by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 9: World 15-Year Perspective for Herbal Functional Foods by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 10: World Recent Past, Current & Future Analysis for Herbal Beauty Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 11: World Historic Review for Herbal Beauty Products by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 12: World 15-Year Perspective for Herbal Beauty Products by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 13: World Recent Past, Current & Future Analysis for Herbal Dietary Supplements by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 14: World Historic Review for Herbal Dietary Supplements by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 15: World 15-Year Perspective for Herbal Dietary Supplements by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 16: World Recent Past, Current & Future Analysis for Capsules & Tablets by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 17: World Historic Review for Capsules & Tablets by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 18: World 15-Year Perspective for Capsules & Tablets by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 19: World Recent Past, Current & Future Analysis for Powders by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 20: World Historic Review for Powders by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 21: World 15-Year Perspective for Powders by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 22: World Recent Past, Current & Future Analysis for Syrups by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 23: World Historic Review for Syrups by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 24: World 15-Year Perspective for Syrups by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
  • Table 25: World Recent Past, Current & Future Analysis for Extracts by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2020 through 2027 and % CAGR
  • Table 26: World Historic Review for Extracts by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2019 and % CAGR
  • Table 27: World 15-Year Perspective for Extracts by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2021 & 2027
III. MARKET ANALYSIS
UNITED STATES
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
CANADA
JAPAN
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
EUROPE
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
FRANCE
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Herbal Medicines Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 234

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Arizona Natural Products
  • ARKOPHARMA Laboratories Company Limited
  • Bayer AG
  • Blackmores Ltd.
  • Dasherb Corp.
  • Dr. Willmar Schwabe India Pvt. Ltd.
  • Himalaya Wellness Company
  • Hishimo Pharmaceuticals Pvt. Ltd.
  • Schaper & Brümmer GmbH & Co. KG
  • ZeinPharma Germany GmbH