Selbyville, Delaware, Oct. 29, 2020 (GLOBE NEWSWIRE) -- According to the credible sources, global herbal medicine market is expected to reach a valuation of USD 411.2 billion by the year 2026. Increasing product adoption by the population across the world, rising support & funding from government for research & development of herbal medicines, and easy availability of the product are the major factors propelling the industry growth. Further, benefits such as low cost, and no side effects are also contributing to herbal medicine market outlook.
Global herbal medicine market report studies the landscape based on several segmentations, such as source type, distribution channel, category, form, and regional outlook. It enlists the factors that influence the segmental share along with their growth rate projections over the analysis timeframe. Furthermore, the document contains granular information about competitive landscape of the market defined by each participant, along with their business profile, product portfolio, and market stake.
Highlighting category
Estimates cites that herbal pharmaceuticals segment held a major share in global herbal medicine industry in 2019, owing to rising geriatric population, and high consumer awareness. Other factors like negligible side effects, supplier innovations, and launch of Current Good Manufacturing Practices (CGMP) by the FDA for dietary supplements are expected to drive the segmental growth.
Meanwhile, herbal beauty products segment is predicted to register robust growth rate during the forecast period, mainly due to increase in sales of beauty products. High disposable income, and availability of large product portfolio are stimulating the overall market remuneration.
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Elaborating form outlook
Global herbal medicine market, as per form type, is segmented into powders, tablets & capsules, syrups, extracts, and others. Among these, extract segment is expected to witness high gains during the forecast period, owing to its utilization in manufacturing several products. Herbs & plants extracts vary from alcoholic extracts, hot water extracts to long-term boiled extracts, and acetic acid extracts depending on the solvent.
Considering source type
As per the report, whole plant sourced herbal medicine market segment is gaining substantial traction due to product’s ability to cure various diseases. As per National Center for Biotechnology Information, about 70% to 80% of the population worldwide preferred traditional drugs for treatment.
Notably, traditional medications are extracted from roots & barks, leaves, fruits, flowers, stalk, and cloves of the plant. For instance, chamomile, a flower, is used as sedative and anxiolytic for relaxation and anxiety. It also reduces swelling and inflammation while aiding in wound healing.
Analyzing distribution channel
Worldwide herbal medicine market share from e-commerce segment is projected to grow momentously during the forecast period, owing to rising awareness regarding traditional medication, high penetration of mobile phones with internet facilities, and easy accessibility in small towns & villages. Further, rising geriatric population, and cost efficiency of online channel are also fueling to its segmental growth.
Regional overview
Asia Pacific herbal medicine market is predicted to record strong CAGR over 2020-2026, attributable to heavy investments in countries like China and India for research & development of effective drugs originated from herbs and plants.
Meanwhile, North America and Europe held significant industry share in the recent past, owing to government support, and high incidences of chronic illnesses in these regions. Furthermore, rising preference for plant-based medications and increasing funding for research and innovation activities in North America and Europe will bolster herbal medicine industry revenues.
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Global Herbal Medicine Market by Category Analysis (Revenue, USD Billion, 2015-2026)
- Herbal Pharmaceuticals
- Herbal Dietary Supplements
- Herbal Functional Foods
- Herbal Beauty Products
Global Herbal Medicine Market by Form Analysis (Revenue, USD Billion, 2015-2026)
- Tablets & Capsules
- Syrups
- Powders
- Extracts
- Others
Global Herbal Medicine Market by Source Analysis (Revenue, USD Billion, 2015-2026)
- Fruits
- Roots & Barks
- Leaves
- Whole Plants
- Others
Global Herbal Medicine Market Distribution Channel Analysis (Revenue, USD Billion, 2015-2026)
- E-commerce
- Hospitals & Retail Pharmacies
Global Herbal Medicine Market Regional Outlook (Revenue, USD Billion, 2015-2026)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- UK
- Italy
- Asia Pacific
- Japan
- Thailand
- China
- India
- Latin America
- Mexico
- Brazil
- Chile
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
Global Herbal Medicine Market Competitive Landscape (Revenue, USD Billion, 2015-2026)
- Schaper & Brümmer GmbH & Co. KG
- Arkopharma Laboratories Co. Ltd.
- Hishimo Pharmaceuticals Pvt. Ltd.
- Venus Pharma GmbH
- Himalaya Global Holdings Ltd.
- Patanjali Ayurved Ltd.
- Dasherb Corp
- Bayer AG
- ZeinPharma Germany GmbH
- Dabur India Ltd.
- Blackmores Ltd.
- Dr. Willmar Schwabe India Pvt. Ltd.
- Arizona Natural Products
- Beovita Vital GmbH
Table of Contents
1. Overview and Scope
1.1. Research goal & scope
1.2. Research assumptions
1.3. Research Methodology
1.4. Key take-aways
1.5. Stakeholders
2. Executive Summary
2.1. Market Definition
2.2. Market Segmentation
3. Herbal Medicine Market Insights
3.1. Herbal Medicine - Industry snapshot
3.2. Herbal Medicine - Ecosystem analysis
3.3. Herbal Medicine Market dynamics
3.4. Herbal Medicine Market PEST analysis
3.5. Value Chain Analysis
3.6. Herbal Medicine Industry trends
3.7. Competitive Ranking Analysis, 2019
3.8. Consumer Buying Behavior
4. Herbal Medicine Market Size and Forecast by Category
4.1. Global herbal medicine market share by category, 2019 & 2026
4.2. Herbal pharmaceuticals
4.3. Herbal functional foods
4.4. Herbal dietary supplements
4.5. Herbal beauty products
5. Herbal Medicine Market Size and Forecast by Form
5.1. Global herbal medicine market share by form, 2019 & 2026
5.2. Tablets & Capsules
5.3. Powders
5.4. Extracts
5.5. Syrups
5.5.1. Global syrups herbal medicine market estimates and forecasts, 2015 - 2026 (USD Billion)
5.5.2. Global syrups herbal medicine market estimates and forecasts, by region, 2015 - 2026 (USD Billion)
6. Herbal Medicine Market Size and Forecast by Source
6.1. Global herbal medicine market share by source, 2019 & 2026
6.2. Leaves
6.3. Roots and barks
6.4. Fruits
6.5. Whole plants
7. Herbal Medicine Market Size and Forecast by Distribution Channel
7.1. Global herbal medicine market share by distribution channel, 2019 & 2026
7.2. Hospitals & Retail pharmacies
7.2.1. Global hospitals & retail pharmacies herbal medicine market estimates and forecasts, 2015 - 2026 (USD Billion)
7.2.2. Global hospitals & retail pharmacies herbal medicine market estimates and forecasts, by region, 2015 - 2026 (USD Billion)
7.3. E-commerce
7.3.1. Global e-commerce herbal medicine market estimates and forecasts, 2015 - 2026 (USD Billion)
7.3.2. Global e-commerce herbal medicine market estimates and forecasts, by region, 2015 - 2026 (USD Billion)
8. Herbal Medicine Market Size and Forecast by Regions
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