Herbal Medicine Market Growth or Demand Increase for what contain:
Herbal Medicine Market is a type of dietary supplement derived from plant parts such as leaves, bark, seeds, oil, berries, and roots. Herbal medicines have been used to treat a variety of diseases since antiquity. These medicines are now available in a variety of dosage forms thanks to the use of new and innovative methods. The market is divided into four categories such as Herbal Functional Foods, Herbal Dietary Supplements, and Herbal Beauty Products. There is restricted scientific evidence for the safety and efficacy of plants used in 21st-century herbalism, which generally does not include standards for purity or dosage. Herbal Medicine commonly involves fungal and bee products, along with minerals, shells, and animal parts. Phytomedicine or phytotherapy are other terms for herbal medicine.
Herbal Medicine Market CAGR Estimation:
Herbal Medicine market was valued at US$ 1.58 Bn. in 2022. Herbal Medicine Market size is estimated to grow at a CAGR of 4.37 % over the forecast period.
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Herbal Medicine Market Segmentation:
by Application
Food & Beverages
Personal Care & Beauty Applications
Pharmaceutical & Nutraceutical
the pharmaceutical & nutraceutical segment held the largest market share of 36 % in 2023. This is recognized as the high demand for herbal raw materials from dietary supplement production and the alternative medicines industry. The benefits offered by herbal medicine is more compared to synthetic medicine owing to these the consumers are shifting their focus. In the nutraceutical industry, dietary supplements such as anti-aging products and herbal protein powders are popular.
by Form
Liquid & Gel
Tablets & Capsules
Powder
the tablet & capsule segment held the largest market share of 34.2 % in 2023. The medicines are available in the form of a tablet and capsules, besides the number of prescriptions mentioned the consumption of tablets and capsules is increasing. Additionally, in the pharmaceutical industry, there is an increasing number of herbal products. Owing to these tablet & capsule segment is expected to remain dominant in the market.
by Category
Herbal Pharmaceuticals
Herbal Functional Foods
Herbal Beauty Products
Herbal Dietary Supplements
by Source
Leaves
Root Barks
Whole Plants
Fruits
by Distribution Channel
Hospital & Retail Pharmacies
E-Commerce
Herbal Medicine Market Overview:
Herbal medicine is used to study or practice the medicinal and therapeutic use of plants. They are the type of dietary supplements which is extracted from the different parts of the plant such as seeds, roots, berries leaves, and bark. The herbal medicines are available in various dosage forms in the market such as dried plants, tablets, extracts and others.
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Herbal Medicine Market Growth or Demand in which regions:
The Europe region dominated the market with 41.5 % share in 2023. The Europe region is expected to witness significant growth at a CAGR of 12 % through the forecast period. The largest cosmetic market is in Europe owing this good opportunity is there for the new players in the market for emerging countries. The demand for the ingredients which are natural is increased, owing to these the personal care and beauty products segment is growing simultaneously and this trend is expected to continue.
Herbal Medicine Market Scope and Methodology:
Growing preference for the consumption of traditional medicine among the expanding population is a driving factor for the market to boost during the forecast period. Another salient cause of the market is growing awareness about the advantages of herbal medicine which can fuel the market during the forecast period. There is no chemical in the herbal medicine, they are chemical-free owing to this they are preferred more by the population. Herbal medicine is easily available in the market and they are also available at a low cost owing to this the market is expected to grow.
Growing R & D to offer major market growth in the market during the forecast period. Funding and investments in the market is growing and is expected to offer a significant market growth during the forecast period. Herbal medicine causes fewer side effects and chemicals are not used owing to this herbal medicine is chiefly preferred by the population and the market is expected to grow.
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Herbal Medicine Market Key Players:
1. Nature's Answer
2. Potter's Herbals
3. Bio-Botanica Inc.
4. Blackmores
5. Dabur Ltd.
6. PT Industri Jamu and Pharmaceutical Sido Muncul, and Tbk
7. Haiyao Co., Ltd.
8. Genius Nature Herbs Pvt Ltd.
9. Guangzhou Pharma Co.
10. Sanjiu Medical & Pharmaceutical
11. Bayer AG
12. Arkopharma
13. Venus Pharma GmbH
14. Schaper & Brummer
15. Beovita
16. ZeinPharma Germany GmbH
17. Arizona Natural Applications
18. Dasherb Corp.
19. Hishimo Pharmaceuticals
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Key questions answered in the Herbal Medicine Market are:
• What is Herbal Medicine Market ?
• What is the growth rate of the Herbal Medicine Market?
• Which are the factors expected to drive the Herbal Medicine market growth?
• What are the different segments of the Herbal Medicine Market?
• What growth strategies are the players considering to increase their presence in Herbal Medicine?
• What are the upcoming industry applications and trends for the Herbal Medicine Market?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Herbal Medicine Market?
• What major challenges could the Herbal Medicine Market face in the future?
• What segments are covered in the Herbal Medicine Market?
• Who are the leading companies and what are their portfolios in Herbal Medicine Market?
• What segments are covered in the Herbal Medicine Market?
• Who are the key players in the Herbal Medicine market?
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