Fort Collins, Colorado, Dec. 15, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, The Herbal Market size was valued at USD 192.6 Billion in 2022 and is anticipated to reach USD 357.1 Billion by 2032 at a CAGR of 6.5% during the forecast period 2023-2032.
People buy more natural treatments as they look for other options besides manmade medicines. They think herbal cures offer complete health benefits with less harmful effects. Focusing on healthy, ecofriendly, and old world healing practices pushes this change. Mainly, turmeric and ginger are liked due to their ability to fight swelling, whereas echinacea and elderberry are sought to help boost immunity.
Anticipations hint at this market growing as the forecast period unfolds because people are becoming more aware of their health. The global herbal market is growing due to the increasing occurrence of liver and heart disease. Consumers prefer natural remedies to address these health concerns and are becoming more aware of the benefits of herbal medicines.
Milk Thistle is a popular herb with liver protective effects, improves liver function, and minimizes damage caused by illnesses like fatty liver disease. These factors positively impact the market and drive its growth during the forecast period.
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Segmentation Overview:
The global herbal market has been segmented into product, delivery, and region. People are buying more herbal medicines because they prefer natural remedies, health awareness is rising, and the government supports it. Stores that sell medicines without a prescription are also seeing growth. This is because people view these herbal treatments as safe and like to take care of their health themselves. Brands like Himalaya Herbal Healthcare, Nature's Bounty, and BioGaia are seizing this opportunity.
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Herbal Market Report Highlights:
- The global herbal market growth is anticipated at a CAGR of 6.5% by 2032.
- Health conscious folks are buying more herbal products. Turmeric and ginger, known for reducing inflammation, are favorites. People also love echinacea and elderberry for enhancing immunity. Milk thistle is well known because it can protect the liver. This market will likely grow because heart and liver diseases are rising. Also, consumers are turning to natural remedies.
- The North American herbal market is growing as people are more health conscious and seeking natural solutions. This includes herbal supplements like echinacea and ginseng, herbal beverages like chamomile and peppermint, and herbal skincare products with aloe vera and lavender. These factors are expected to drive market growth in the region.
- Some prominent players in the herbal market report include Arizona Natural Products, Austral Herbs, Blackmores Ltd., Dabur India Ltd., Dasherb Corp., Dr. Willmar Schwabe India Pvt. Ltd., Glanbia plc, Herbalife International of America Inc., Himalaya Global Holdings Ltd and Hishimo Pharmaceuticals Pvt. Ltd.
Industry Trends and Insights:
- Dabur India Ltd. launched Dabur Vatika Rosemary Hair Growth Oil, fortified with Rosemary, Hibiscus, and Coconut.
- Schwabe India launched Rück-Pain drops and Olmuv oil for faster pain relief.
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Herbal Market Segmentation:
By Product: Supplements, medicines, cosmetics.
By Delivery: OTC, prescription.
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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