Highlights:
The global market for herbal medicine is expected to increase from $169.1 billion in 2023 to $279.8 billion by the end of 2028, with a compound annual growth rate (CAGR) of 10.6% during the forecast period of 2023-2028.
Western herbalism market for herbal medicine is expected to increase from $88.4 billion in 2023 to $142.4 billion by the end of 2028, with a CAGR of 10.0% during the forecast period of 2023-2028.
Traditional Chinese Medicine (TCM) market for herbal medicine is expected to increase from $53.3 billion in 2023 to $92.8 billion by the end of 2028, with a CAGR of 11.7% during the forecast period of 2023-2028.
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.
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
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