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How Rapidly is the Herbal Medicine Market Expected to Expand Between 2025 and 2034 Based on Current Trends?

The herbal medicine market has seen substantial growth in recent years and is expected to increase from $214.32 billion in 2024 to $235.5 billion in 2025, with a CAGR of 9.9%. Key drivers of historical growth include traditional medical practices, limited access to modern healthcare, cultural heritage, a preference for natural and holistic treatments, and well-documented historical usage.

The herbal medicine market is anticipated to grow rapidly in the near future, expanding to $356.25 billion by 2029 at a CAGR of 10.9%. Growth factors include the rising wellness industry, a focus on environmental sustainability, increasing prevalence of chronic illnesses, heightened consumer preference for natural products, and increased clinical research funding. Major trends will involve enhanced standardization and quality control, digital health advancements, increased use of adaptogens for stress relief, expansion of herbal supplements and nutraceuticals, and greater collaboration with conventional medicine.

How Are the key drivers Contributing to the Expansion of the herbal medicine Market?

The growing use of herbal products in the pharmaceutical sector is expected to boost the expansion of the herbal medicine market. Herbal products include medications composed solely of one or more herbal substances, herbal preparations, or a combination of both as active ingredients. The incorporation of herbal products in the pharmaceutical industry is increasing demand for herbal medicine. For example, in February 2024, a report by Glanbia Nutritionals (NA) Inc., a US-based company specializing in dairy and non-dairy solutions, revealed that the US herbal supplement market is valued at $5.9 billion, with an anticipated compound annual growth rate (CAGR) of 4.3% from 2022 to 2027. Therefore, the growing use of herbal products in the pharmaceutical industry is accelerating the expansion of the herbal medicine market.

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Which Key Players Are Shaping the Future of the Herbal Medicine Market?

Major companies operating in the herbal medicine market include:

• Patanjali Ayurved Ltd._x000D_

• Dabur Ltd._x000D_

• NOW Foods_x000D_

• Boiron Group_x000D_

• Nature’s Sunshine Products_x000D_

How Are the Latest Trends Influencing the Growth of the Herbal Medicine Market?

Product innovation is a key trend gaining popularity in the herbal medicine market. Major companies are investing in innovative technologies to maintain their market position. For example, in September 2022, BASF SE, a Germany-based chemical company, launched Phytocine, a new line of traditional Chinese medicine-based products with scientific backing. Phytocine targets skin issues and includes natural, preservative-free ingredients. The products aim to improve skin hydration, reduce signs of aging, and soothe sensitive skin.

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What Are the Major Segments of the Herbal Medicine Market and Their Role in Driving Growth?

The herbal medicine market covered in this report is segmented –

1) By Product: Capsules And Tablets, Powders, Extracts, Syrups, Other Products

2) By Category: Herbal Pharmaceuticals, Herbal Functional Foods, Herbal Dietary Supplements, Herbal Beauty Products

3) By Distribution Channel: Hospitals, Retail Pharmacies, E-commerce

4) By Application: Pharmaceutical And Nutraceutical, Food And Beverages, Personal Care And Beauty Products

Subsegments:

1) By Capsules And Tablets: Herbal Capsules, Herbal Tablets

2) By Powders: Single Herb Powders, Blend Powders

3) By Extracts: Liquid Extracts, Dry Extracts, Standardized Extracts

4) By Syrups: Herbal Syrups, Cough Syrups

5) By Other Products: Teas, Tinctures, Ointments And Creams

What Regions Are At the Forefront of Herbal Medicine Market Expansion?

Europe was the largest region in the herbal medicine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the herbal medicine market report during the forecast period. The regions covered in the herbal medicine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

How Can We Define the Herbal Medicine Market and Its Key Components?

Herbal medicine refers to using plants to treat illness and improve overall health and well-being. Herbal medicines improve health, prevent disease, and treat diseases using plant roots, stems, leaves, blossoms, or seeds.

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