[Latest] Global Herbal Medicinal Products Market Size/Share

Austin, TX, USA, June 18, 2024 (GLOBE NEWSWIRE) -- Custom Market Insights has published a new research report titled “Herbal Medicinal Products Market Size, Trends and Insights By Product Type (Homeopathic Medicines, Ayurvedic Medicines, Chinese Medicines, Aromatherapy Products), By Source (Barks, Leaves, Roots, Fruits and Vegetables, Others), By Application (Food and Beverages, Pharmaceuticals, Personal Care, Others), By Formulation Type (Syrups, Powder, Capsules and Tablets, Oils, Others), By Function (General Wellness, Cardiovascular Health, Gut and Digestive Health, Cognitive Health, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” in its research database.

“According to the latest research study, the demand of global Herbal Medicinal Products Market size & share was valued at approximately USD 214,168.1 Million in 2023 and is expected to reach USD 230,873.2 Million in 2024 and is expected to reach a value of around USD 453,881.4 Million by 2033, at a compound annual growth rate (CAGR) of about 7.8% during the forecast period 2024 to 2033.”

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Herbal Medicinal Products Market: Growth Factors and Dynamics

Increasing Consumer Preference for Natural Remedies: Growing consumer awareness about health and wellness has led to a significant shift towards natural remedies and herbal medicinal products. Consumers are increasingly seeking alternatives to synthetic medications, driven by concerns over side effects and a desire for more holistic healthcare options.

Rising Demand for Herbal Supplements and Nutraceuticals: There is a surge in demand for herbal supplements and nutraceuticals due to their perceived health benefits and efficacy in promoting overall well-being. Factors such as aging populations, increasing health consciousness, and the trend towards preventive healthcare have contributed to the growing adoption of herbal medicinal products.

Expansion of Regulatory Support and Quality Standards: Regulatory support and quality standards for herbal medicinal products have improved, enhancing consumer confidence and trust. Governments and regulatory bodies are implementing stringent regulations and guidelines to ensure the safety, quality, and efficacy of herbal medicines, driving market growth by reducing concerns regarding product safety and effectiveness.

Advancements in Research and Development: Significant advancements in research and development have contributed to the expansion of the herbal medicinal products market. Ongoing scientific studies and clinical research are uncovering the therapeutic properties and health benefits of herbal ingredients, leading to the development of new formulations and products that cater to specific health conditions and consumer needs.

Globalization and Market Expansion: The herbal medicinal products market is witnessing globalization and market expansion, with manufacturers tapping into new geographic regions and consumer segments. Increased accessibility to herbal medicines through various distribution channels, including e-commerce platforms and specialty stores, has facilitated market growth by reaching a wider audience and penetrating new markets.

Partnerships and Collaborations in the Healthcare Industry: Partnerships and collaborations between herbal medicine manufacturers and healthcare providers are driving market growth by promoting the integration of herbal remedies into mainstream healthcare practices. Healthcare professionals are increasingly recommending herbal medicines as complementary or alternative treatment options, further fueling the demand for herbal medicinal products and driving market expansion.

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Herbal Medicinal Products Market: Partnership and Acquisitions

In 2023, Handard, an Indian traditional medicine manufacturer, expanded its product line to include face washes, shampoos, and oral hygiene products. This diversification allows the company to cater to a broader consumer base and tap into new market segments.

In 2022, Simply Herbal, a prominent player in the Indian healthcare supplement industry, introduced a new range of products under the brand name Divya Himalayan. This brand focuses on producing products derived solely from organic ingredients, reflecting a commitment to natural and sustainable wellness solutions.

In 2021, Lotus, a leading beauty company in India, unveiled its new brand, Lotus Botanicals, available exclusively through e-commerce platforms. This brand offers a range of haircare and skincare products, providing consumers with convenient access to natural and botanical-based beauty solutions.

Report Scope

Feature of the Report	Details
Market Size in 2024	USD 230,873.2 Million
Projected Market Size in 2033	USD 453,881.4 Million
Market Size in 2023	USD 214,168.1 Million
CAGR Growth Rate	7.8% CAGR
Base Year	2023
Forecast Period	2024-2033
Key Segment	By Product Type, Source, Application, Formulation Type, Function, Distribution Channel and Region
Report Coverage	Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope	North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options	Request tailored purchasing options to fulfil your requirements for research.

(A free sample of the Herbal Medicinal Products report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the following:

Introduction, Overview, and in-depth industry analysis are all included in the 2024 updated report.
The COVID-19 Pandemic Outbreak Impact Analysis is included in the package.
About 220+ Pages Research Report (Including Recent Research)
Provide detailed chapter-by-chapter guidance on the Request.
Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2024
Includes Tables and figures have been updated.
The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
Custom Market Insights (CMI) research methodology

(Please note that the sample of the Herbal Medicinal Products report has been modified to include the COVID-19 impact study prior to delivery.)

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Herbal Medicinal Products Market: COVID-19 Analysis

The COVID-19 pandemic has significantly impacted the Herbal Medicinal Products Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

Increased Demand for Immune-Boosting Products: The COVID-19 pandemic has led to a surge in demand for immune-boosting herbal medicinal products. Consumers are seeking natural remedies to support their immune systems and overall health, driving sales of products containing ingredients known for their immune-boosting properties such as echinacea, elderberry, and turmeric.

Disruption in Supply Chains and Manufacturing: The pandemic has disrupted supply chains and manufacturing operations, leading to shortages of raw materials and delays in the production of herbal medicinal products. Lockdowns, travel restrictions, and logistical challenges have hindered the sourcing and transportation of herbal ingredients, impacting market availability and distribution.

Product Innovation and Diversification: To recover from the impact of COVID-19, manufacturers in the herbal medicinal products market have focused on product innovation and diversification. This includes introducing new formulations, variants, and delivery formats to meet evolving consumer needs and preferences, such as herbal teas, capsules, and topical treatments.

Expansion of E-commerce Channels: The pandemic has accelerated the shift towards online shopping, prompting herbal medicinal product manufacturers to expand their presence on e-commerce platforms. By leveraging digital channels, companies have improved accessibility and reach, allowing consumers to purchase herbal remedies conveniently from the comfort of their homes.

Quality Assurance and Safety Measures: In response to heightened consumer concerns about health and safety, manufacturers have prioritized quality assurance and safety measures. This includes adherence to stringent regulatory standards, implementation of Good Manufacturing Practices (GMP), and transparent labeling practices to ensure the safety, quality, and efficacy of herbal medicinal products.

Consumer Education and Awareness Campaigns: Companies have invested in consumer education and awareness campaigns to rebuild trust and confidence in herbal medicinal products. By providing accurate information about the health benefits, efficacy, and safety of herbal remedies, manufacturers aim to address misinformation and promote informed decision-making among consumers.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Herbal Medicinal Products Market, with some challenges and opportunities arising from the pandemic.

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Key questions answered in this report:

What is the size of the Herbal Medicinal Products market and what is its expected growth rate?
What are the primary driving factors that push the Herbal Medicinal Products market forward?
What are the Herbal Medicinal Products Industry's top companies?
What are the different categories that the Herbal Medicinal Products Market caters to?
What will be the fastest-growing segment or region?
In the value chain, what role do essential players play?
What is the procedure for getting a free copy of the Herbal Medicinal Products market sample report and company profiles?

Key Offerings:

Market Share, Size & Forecast by Revenue | 2024−2033
Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Leading Trends
Market Segmentation – A detailed analysis by Types of Services, by End-User Services, and by regions
Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Herbal Medicinal Products Market – Regional Analysis

The Herbal Medicinal Products Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

North America: In North America, there is a significant trend towards the legalization and widespread acceptance of CBD (cannabidiol) products derived from hemp. Consumers are increasingly turning to CBD-infused herbal products for various health and wellness purposes, driving market growth in the region. Moreover, consumers in North America prioritize organic and natural products, leading to a surge in demand for herbal medicinal products that are free from synthetic chemicals and additives. Manufacturers are responding by offering organic-certified herbal remedies to meet consumer preferences.

Europe: Traditional Herbal Remedies: Europe has a rich history of traditional herbal medicine, and there is a continued trend towards the use of traditional herbal remedies for health maintenance and treatment of ailments. Consumers in Europe value the effectiveness and safety of herbal products backed by centuries of traditional use. Moreover, Europe has stringent regulatory standards for herbal medicinal products, including the Traditional Herbal Medicinal Products Directive (THMPD). Compliance with these regulations is a significant trend in the region, ensuring the safety, quality, and efficacy of herbal remedies.

Asia-Pacific: In Asia-Pacific, there is a deep-rooted tradition of using herbal remedies in healthcare practices. Traditional systems of medicine such as Ayurveda, Traditional Chinese Medicine (TCM), and Kampo are widely practised, driving the demand for herbal medicinal products in the region. Moreover, the Asia-Pacific herbal medicinal products market is experiencing rapid growth, fueled by increasing consumer awareness, rising disposable incomes, and advancements in research and innovation. Manufacturers are innovating new herbal formulations and delivery formats to cater to diverse consumer preferences.

LAMEA (Latin America, Middle East, and Africa): Rich Biodiversity and Herbal Resources: The LAMEA region is known for its rich biodiversity and abundance of herbal resources. Traditional herbal remedies are deeply ingrained in the culture and healthcare practices of many countries in the region, driving the demand for herbal medicinal products. Moreover, with rising health consciousness and a shift towards preventive healthcare, there is a growing interest in herbal supplements and nutraceuticals in the LAMEA region. Consumers are seeking natural alternatives to support their health and well-being, leading to increased sales of herbal medicinal products.

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Browse the full “Herbal Medicinal Products Market Size, Trends and Insights By Product Type (Homeopathic Medicines, Ayurvedic Medicines, Chinese Medicines, Aromatherapy Products), By Source (Barks, Leaves, Roots, Fruits and Vegetables, Others), By Application (Food and Beverages, Pharmaceuticals, Personal Care, Others), By Formulation Type (Syrups, Powder, Capsules and Tablets, Oils, Others), By Function (General Wellness, Cardiovascular Health, Gut and Digestive Health, Cognitive Health, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033” Report at https://www.custommarketinsights.com/report/herbal-medicinal-products-market/

List of the prominent players in the Herbal Medicinal Products Market:

Schwabe Group
Himalaya Drug Company
Patanjali Ayurved Limited
Nature’s Way Products LLC
Bio-Botanica Inc.
Bio-Pharmaceuticals Inc.
Dabur India Limited
Blackmores Limited
Gaia Herbs
Nutraceutical International Corporation
Arizona Natural Products
Naturalife Asia Co. Ltd.
NutraScience Labs
Herb Pharm LLC
NaturaNectar LLC
Others

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The Herbal Medicinal Products Market is segmented as follows:

By Product Type

Homeopathic Medicines
Ayurvedic Medicines
Chinese Medicines
Aromatherapy Products

By Source

Barks
Leaves
Roots
Fruits and Vegetables
Others

By Application

Food and Beverages
Pharmaceuticals
Personal Care
Others

By Formulation Type

Syrups
Powder
Capsules and Tablets
Oils
Others

By Function

General Wellness
Cardiovascular Health
Gut and Digestive Health
Cognitive Health
Others

By Distribution Channel

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others

Click Here to Get a Free Sample Report of the Global Herbal Medicinal Products Market @ https://www.custommarketinsights.com/report/herbal-medicinal-products-market/

Regional Coverage:

North America

U.S.
Canada
Mexico
Rest of North America

Europe

Germany
France
U.K.
Russia
Italy
Spain
Netherlands
Rest of Europe

Asia Pacific

China
Japan
India
New Zealand
Australia
South Korea
Taiwan
Rest of Asia Pacific

The Middle East & Africa

Saudi Arabia
UAE
Egypt
Kuwait
South Africa
Rest of the Middle East & Africa

Latin America

Brazil
Argentina
Rest of Latin America

This Herbal Medicinal Products Market Research/Analysis Report Contains Answers to the following Questions.

Which Trends Are Causing These Developments?
Who Are the Global Key Players in This Herbal Medicinal Products Market? What are Their Company Profile, Product Information, and Contact Information?
What Was the Global Market Status of the Herbal Medicinal Products Market? What Was the Capacity, Production Value, Cost and PROFIT of the Herbal Medicinal Products Market?
What Is the Current Market Status of the Herbal Medicinal Products Industry? What's Market Competition in This Industry, Both Company and Country Wise? What's Market Analysis of Herbal Medicinal Products Market by Considering Applications and Types?
What Are Projections of the Global Herbal Medicinal Products Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What about imports and exports?
What Is Herbal Medicinal Products Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
What Is the Economic Impact On Herbal Medicinal Products Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
What Are Market Dynamics of Herbal Medicinal Products Market? What Are Challenges and Opportunities?
What Should Be Entry Strategies, Countermeasures to Economic Impact, and Marketing Channels for Herbal Medicinal Products Industry?

Click Here to Access a Free Sample Report of the Global Herbal Medicinal Products Market @ https://www.custommarketinsights.com/report/herbal-medicinal-products-market/

Reasons to Purchase Herbal Medicinal Products Market Report

Herbal Medicinal Products Market Report provides qualitative and quantitative analysis of the market based on segmentation involving economic and non-economic factors.
Herbal Medicinal Products Market report outlines market value (USD) data for each segment and sub-segment.
This report indicates the region and segment expected to witness the fastest growth and dominate the market.
Herbal Medicinal Products Market Analysis by geography highlights the consumption of the product/service in the region and indicates the factors affecting the market within each region.
The competitive landscape incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled.
Extensive company profiles comprising company overview, company insights, product benchmarking, and SWOT analysis for the major market players.
The Industry's current and future market outlook concerning recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging and developed regions.
Herbal Medicinal Products Market Includes in-depth market analysis from various perspectives through Porter's five forces analysis and provides insight into the market through Value Chain.

Reasons for the Research Report

The study provides a thorough overview of the global Herbal Medicinal Products market. Compare your performance to that of the market as a whole.

Aim to maintain competitiveness while innovations from established key players fuel market growth.

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What does the report include?

Drivers, restrictions, and opportunities are among the qualitative elements covered in the worldwide Herbal Medicinal Products market analysis.

The competitive environment of current and potential participants in the Herbal Medicinal Products market is covered in the report, as well as those companies' strategic product development ambitions.

According to the component, application, and industry vertical, this study analyzes the market qualitatively and quantitatively. Additionally, the report offers comparable data for the important regions.

For each segment mentioned above, actual market sizes and forecasts have been given.

Who should buy this report?

Participants and stakeholders worldwide Herbal Medicinal Products market should find this report useful. The research will be useful to all market participants in the Herbal Medicinal Products industry.
Managers in the Herbal Medicinal Products sector are interested in publishing up-to-date and projected data about the worldwide Herbal Medicinal Products market.
Governmental agencies, regulatory bodies, decision-makers, and organizations want to invest in Herbal Medicinal Products products' market trends.
Market insights are sought for by analysts, researchers, educators, strategy managers, and government organizations to develop plans.

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