Westford, USA, July 04, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, herbal medicinal products contain ingredients sourced from plants or natural resources, offering a holistic approach to health and wellness in the herbal medicine market. These products are available in various forms, such as tablets, powders, capsules, and teas. A key advantage of herbal medicinal products is their minimal to no side effects, making them a safe alternative to conventional options for improving overall health and organ function.
Browse in-depth TOC on the "Herbal Medicine Market."
- Pages - 242
- Tables - 149
- Figures – 78
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Herbal medicine market analysis refers to dietary supplements derived from various plant parts, including leaves, bark, seeds, oil, berries, and roots. Herbal medicines have been utilized to treat various diseases and health conditions. Over the years, new and innovative methods have been adopted to produce herbal medicines in different dosage forms.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 168.86 billion |
| 2030 Value Projection | USD 437.59 billion |
| CAGR | 11.16% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Herbal Medicine Market
- Blackmores Limited
- Nature's Answer, LLC.
- Himalaya Drug Company
- Schwabe Group
- Dabur India Ltd.
- Bio-Botanica Inc.
- Arkopharma Laboratoires Pharmaceutiques
- Nature's Sunshine Products Inc.
- Sanofi S.A.
- Zandu Pharmaceutical Works Ltd.
- Ricola AG
- Weleda AG
- Young Living Essential Oils
- Boiron Group
- Nutraceutical International Corporation
- Herbal Hills
- Herbalife International Inc.
- Patanjali Ayurved Ltd.
- Gaia Herbs
- Oregon's Wild Harvest
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Tablets and Capsules Segment is Expected to Grow in the market Due to the Rising Availability of Medications
The tablets and capsules segment is dominant in the global herbal medicine market. This segment has gained prominence due to the wide availability of medications in the form of tablets and capsules. Tablets and capsules offer a convenient and standardized way of delivering various pharmaceutical formulations to patients.
The markets in North America, particularly in the United States, there is a noticeable increase in consumer awareness regarding health and a growing shift in attitudes towards nature-based care products in the herbal medicine market. This shift can be attributed to the powerful green wave, which emphasizes the importance of sustainability, natural ingredients, and environmentally-friendly practices.
Liquid and Gel Segment is Expected to Dominate the Market Due to the Growing Utilization Across Multiple Industries
The liquid and gel segment holds the largest market share for herbal medicine market. This segment is widely utilized across multiple industries, including pharmaceuticals, nutraceuticals, and the food and beverage sector. Liquid and gel formulations offer advantages such as ease of administration, faster absorption, and improved palatability.
Regional markets in Asia and Latin America are experiencing notable growth, driven by several key factors. The increasing usage of the internet has played a significant role in raising consumer awareness about the long-term benefits of herbal and natural products in the herbal medicine market. Consumers are now more informed about the potential advantages of using such products and actively seek them out.
A comprehensive analysis of the major players in the herbal medicine market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Herbal Medicine Market
- In 2022, Himalaya Global Holdings Ltd. made a significant move by establishing the Himalaya Global Research Center at Dubai Science Park. Spanning an impressive built-up area of 55,000 square feet, this state-of-the-art facility is a hub for over 100 scientists dedicated to developing herbal-based pharmaceutical and personal care products. The research centre focuses on innovation and showcases Himalaya's commitment to consumer satisfaction by including its first-ever Consumer Experience Center.
- Lotus, a renowned beauty company in India, recently introduced the Lotus Botanicals brand. This brand caters to the growing demand for natural and botanical-based skincare and haircare products. Lotus Botanicals exclusively offers its range of products through its e-commerce platform, allowing consumers to access and purchase their desired items conveniently.
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Key Questions Answered in Herbal Medicine Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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