Global Herbal Medicine Market to Settle at 6.3% Growth Rate by 2022-28

Herbal medicine–also called botanical medicine or phytomedicine refers to using a plant’s seeds, berries, roots, leaves, bark, or flowers for medicinal purposes. Herbalism has a long tradition of use outside of conventional medicine. It is becoming more mainstream as improvements in analysis and quality control along with advances in clinical research show the value of herbal medicine in the treating and preventing disease.

Traditional herbal medicines are naturally occurring, plant-derived substances with minimal or no industrial processing that have been used to treat illness within local or regional healing practices.

Asia-Pacific is the largest region of Herbal Medicine, with a market share about 50%, followed by Europe and North America, etc. Tsumura, Schwabe, Yunnan Baiyao, Tongrentang and TASLY are the key manufacturers of industry, and top 10 players had less than 25% combined market share.

The global Herbal Medicine market was valued at US$ 150270 million in 2020 and is expected to reach US$ 230160 million by the end of 2027, growing at a CAGR of 6.3% during 2021-2027.

This report focuses on Herbal Medicine volume and value at the global level, regional level and company level. From a global perspective, this report represents overall Herbal Medicine market size by analysing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, Asia-Pacific, Latin America and Middle East & Africa.

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The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2016 to 2027. by Application segment also provides consumption during the forecast period of 2016 to 2027. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Segment by Type

  • Detoxification Medicine
  • Antipyretic Medicine
  • Aigestant Medicine
  • Blood Circulation Medicine
  • Others

Segment by Application

  • Western Herbalism
  • Traditional Chinese Medicine
  • Others

By Company

  • Tsumura
  • Schwabe
  • Madaus
  • Weleda
  • Blackmores
  • Arkopharma
  • SIDO MUNCUL
  • Arizona Natural
  • Dabur
  • Herbal Africa
  • Nature’s Answer
  • Bio-Botanica
  • Potter’s
  • Zand
  • Nature Herbs
  • Imperial Ginseng
  • Yunnan Baiyao
  • Tongrentang
  • TASLY
  • Zhongxin
  • Kunming Pharma

Production by Region

  • North America
  • Europe
  • China

Consumption by Region

  • North America (United States, Canada)
  • Europe (Germany, France, U.K., Italy, Russia)
  • Asia-Pacific (China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia)
  • Latin America (Mexico, Brazil, Argentina)
  • Middle East & Africa (Turkey, Saudi Arabia, UAE)

 

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