Herbal Medicine Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2032

The report on the global herbal medicine market provides qualitative and quantitative analysis for the period from 2022-2032. The global herbal medicine market was valued at USD 77.45 billion in 2023 and is expected to reach USD 304.65 billion in 2032, with a CAGR of more than a 16.74% during the forecast period 2024-2032. The study on herbal medicine market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2022-2032.

The report on herbal medicine market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global herbal medicine market over the period of 2022-2032. Moreover, the report is a collective presentation of primary and secondary research findings.

Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global herbal medicine market over the period of 2022-2032. Further, IGR- Growth Matrix gave in the report brings an insight into the investment areas that existing or new market players can consider.

Report Findings

1) Drivers

• Growing consumer interest in natural remedies and holistic health drives the herbal medicine market.
• Government support and regulations favoring the utilization of herbal medicines are playing a pivotal role in expanding the market.

2) Restraints

• Stringent regulatory challenges and quality control issues can hinder the growth of the herbal medicine market.

3) Opportunities

• Advancements in research and technology can provide lucrative opportunities for the growth of the market.

Research Methodology

A) Primary Research

Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include

1. Key Opinion Leaders associated with Infinium Global Research

2. Internal and External subject matter experts

3. Professionals and participants from the industry

Our primary research respondents typically include

1. Executives working with leading companies in the market under review

2. Product/brand/marketing managers

3. CXO level executives

4. Regional/zonal/ country managers

5. Vice President level executives.

B) Secondary Research

Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.

The secondary sources of the data typically include

1. Company reports and publications

2. Government/institutional publications

3. Trade and associations journals

4. Databases such as WTO, OECD, World Bank, and among others.

5. Websites and publications by research agencies

Segment Covered

The global herbal medicine market is segmented on the basis of source, application, formulation type, and distribution channel.

The Global Herbal Medicine Market by Source

• Barks
• Leaves
• Roots
• Others

The Global Herbal Medicine Market by Application

• Food and Beverages
• Pharmaceuticals
• Others

The Global Herbal Medicine Market by Formulation Type

• Syrups
• Powder
• Capsules & Tablets
• Others

The Global Herbal Medicine Market by Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Others

Company Profiles

The companies covered in the report include

• Himalaya Global Holdings Ltd.
• Schaper & Brümmer
• Hishimo Pharmaceuticals Pvt. Ltd.
• Blackmores Limited
• Bio-Botanica, Inc.
• Bayer AG
• Patanjali Ayurved Limited
• Weleda
• Nutraceuticals Group
• Emami Limited

What does this Report Deliver?

1. Comprehensive analysis of the global as well as regional markets of the herbal medicine market.

2. Complete coverage of all the segments in the herbal medicine market to analyze the trends, developments in the global market and forecast of market size up to 2032.

3. Comprehensive analysis of the companies operating in the global herbal medicine market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.

4. IGR- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.