The global botanicals & acupuncture market accounted for USD 80.68 billion in 2023 and is expected to reach USD 601.11 billion by 2034 with a CAGR of 20.03% during the forecast period 2024-2034. The market will grow due to factors such as the growing acceptance of natural medicines, the incidence of chronic illnesses, government support and regulation, and the formation of strategic alliances and partnerships.
Natural and holistic methods of healthcare are becoming more and more popular as people search for safer substitutes for potentially harmful conventional drugs. An increasing amount of scientific research is supporting the use of acupuncture and botanicals as safe and efficient treatments for a range of ailments. For instance, Herbalife Nutrition and the American Red Cross formed a partnership in December 2023 to help disaster relief efforts worldwide.
By intervention, the botanicals segment accounted for the highest revenue-grossing segment in the global botanicals & acupuncture market in 2023 owing to the increasing consumer preference for natural health products, scientific validation of their efficacy, and rising awareness of preventive healthcare. For instance, Gaia Herbs debuted a new range of herbal products in November 2023 that are geared at mental wellness and stress relief. Additionally, the acupuncture segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing acceptance of integrative medicine, rising awareness of its benefits for pain management and chronic conditions, and growing support from healthcare providers.
By distribution channel, the direct sales segment accounted for the highest revenue-grossing segment in the global botanicals & acupuncture market in 2023 owing to the personalized customer service, strong consumer trust, and effective direct-to-consumer marketing strategies. For instance, Pure Encapsulations announced in January 2024 the introduction of a new line of acupuncture support supplements intended to enhance acupuncture sessions. Additionally, the distance correspondence segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of telemedicine, the convenience of remote consultations, and advancements in digital health technologies.
North American region is anticipated to have the highest revenue share during the forecast period owing to the high consumer demand for natural health products, robust healthcare infrastructure, and strong presence of key market players. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of traditional medicine practices, growing healthcare investments, and rising consumer awareness of alternative therapies. For instance, Nature's Bounty Co. broadened its product line in December 2023 when it acquired a well-known manufacturer of botanical supplements with an emphasis on traditional Chinese herbal medicines.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Natural and holistic methods of healthcare are becoming more and more popular as people search for safer substitutes for potentially harmful conventional drugs. An increasing amount of scientific research is supporting the use of acupuncture and botanicals as safe and efficient treatments for a range of ailments. For instance, Herbalife Nutrition and the American Red Cross formed a partnership in December 2023 to help disaster relief efforts worldwide.
By intervention, the botanicals segment accounted for the highest revenue-grossing segment in the global botanicals & acupuncture market in 2023 owing to the increasing consumer preference for natural health products, scientific validation of their efficacy, and rising awareness of preventive healthcare. For instance, Gaia Herbs debuted a new range of herbal products in November 2023 that are geared at mental wellness and stress relief. Additionally, the acupuncture segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing acceptance of integrative medicine, rising awareness of its benefits for pain management and chronic conditions, and growing support from healthcare providers.
By distribution channel, the direct sales segment accounted for the highest revenue-grossing segment in the global botanicals & acupuncture market in 2023 owing to the personalized customer service, strong consumer trust, and effective direct-to-consumer marketing strategies. For instance, Pure Encapsulations announced in January 2024 the introduction of a new line of acupuncture support supplements intended to enhance acupuncture sessions. Additionally, the distance correspondence segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of telemedicine, the convenience of remote consultations, and advancements in digital health technologies.
North American region is anticipated to have the highest revenue share during the forecast period owing to the high consumer demand for natural health products, robust healthcare infrastructure, and strong presence of key market players. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of traditional medicine practices, growing healthcare investments, and rising consumer awareness of alternative therapies. For instance, Nature's Bounty Co. broadened its product line in December 2023 when it acquired a well-known manufacturer of botanical supplements with an emphasis on traditional Chinese herbal medicines.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Intervention, and Distribution Method
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement
Segmentation: Botanicals & Acupuncture Market Report 2023 - 2034
Botanicals & Acupuncture Market Analysis & Forecast by Intervention 2023 - 2034 (Revenue USD Bn)
- Botanicals
- Ayurveda
- Naturopathy
- Homeopathy
- Acupuncture
Botanicals & Acupuncture Market Analysis & Forecast by Distribution Method 2023 - 2034 (Revenue USD Bn)
- Direct Sales
- E-sales
- Distance Correspondenc
Botanicals & Acupuncture Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Botanicals & Acupuncture Market: Intervention Estimates & Trend Analysis
8. Botanicals & Acupuncture Market: Distribution Method Estimates & Trend Analysis
9. Regional Market Analysis
10. North America Botanicals & Acupuncture Market
11. Europe Global Botanicals & Acupuncture Market
12. Asia Pacific Global Botanicals & Acupuncture Market
13. Latin America Global Botanicals & Acupuncture Market
14. MEA Global Botanicals & Acupuncture Market
15. Competitor Analysis
16. Company Profiles
Companies Mentioned
- Herbalife Nutrition Ltd.
- Blackmores Limited
- Gaia Herbs
- Pure Encapsulations
- Nature's Bounty Co.
- Boiron
- Weleda
- Himalaya Drug Company
- Young Living Essential Oils
- NOW Foods
- MediHerb
- TCMzone
- Standard Process
- Pacific Herbs
- Acupuncture Healthcare Holdings Ltd.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | October 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 80.68 Billion |
| Forecasted Market Value ( USD | $ 601.11 Billion |
| Compound Annual Growth Rate | 20.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
