The global market for herbal medicine is expected to increase from $169.1 billion in 2023 to $279.8 billion by the end of 2028, with a compound annual growth rate (CAGR) of 10.6% during the forecast period of 2023-2028.
Western herbalism market for herbal medicine is expected to increase from $88.4 billion in 2023 to $142.4 billion by the end of 2028, with a CAGR of 10.0% during the forecast period of 2023-2028.
Traditional Chinese Medicine (TCM) market for herbal medicine is expected to increase from $53.3 billion in 2023 to $92.8 billion by the end of 2028, with a CAGR of 11.7% during the forecast period of 2023-2028.
Report Scope:
The scope of the herbal medicine market is extensive and continues to expand as more people seek alternative and natural remedies for various health conditions. The herbal medicine market has experienced significant growth in recent years, and this growth is projected to continue. Factors such as increasing awareness of herbal remedies, rising health consciousness, and a preference for plant-based products contribute to this growth.
BCC Research analyzes each market and its applications, the regulatory environments, the technologies involved, and market projections and shares. Technologies covered include the latest trends and developments. The report informs all market players, potential entrants, government agencies, and other interested parties. As the report covers geographic regions in detail, companies interested in expanding their geographic reach will also find this study helpful. This report also covers merger and acquisition strategies and collaborations,as well as emerging technologies.
Report Includes:
34 data tables and 40 additional tables
An overview of the current and future global markets for herbal medicines
Analyses of the global market trends, with historical market revenue data (sales figures) for 2021-2022, estimates for 2023, forecasts for 2024, and projections of compound annual growth rates (CAGRs) through 2028
Estimates of the market size. and a revenue forecast for the global market in USD millions, and a corresponding market share analysis based on the product type, dosage form, application area, distribution/sales channel and region
In-depth information (facts and figures) concerning the market drivers, opportunities and challenges, prospects, technologies, regulatory scenarios, and impact of macroeconomic variables
Evaluation of scientific evidence supporting the efficacy and safety of herbal medicines for various health conditions
A discussion of ESG developments, with emphasis on the importance of ESG, consumer attitudes, assessment of risks and opportunities, and ESG practices of the leading companies
A look at the major vendors in the global market, and an analysis of the industry structure, including recent M&A activity and venture funding
Patent analysis
Company profiles of major players within the industry, including Bayer AG., Herbalife Nutrition Ltd., Dabur India Ltd., Patanjali Ayurved Ltd., and Blackmores Group.
Table of Contents
Chapter 1 Introduction
Introduction
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
Methodology
Information Sources
Geographic Breakdown
Chapter 2 Summary and Highlights
Market Overview
Chapter 3 Market and Technology Background
Herbal Medicine
History of Herbal Medicine
Different Approaches to Herbalism
Western Herbalism
Traditional Chinese Medicine (TCM)
Ayurveda
Others
Sources
Medicinal Plant Parts in Herbal Medicine
Active Ingredients in Herbal Medicines
Chapter 4 Market Dynamics
Factors Affecting the Market for Herbal Medicine
Market Drivers
Market Barriers
Future Opportunities
Impact of COVID-19 on Market for Herbal Medicine
Chapter 5 Market Breakdown by Source
Introduction
Market by Source
Market Overview
Market Size and Forecast
Medicinal Plant Parts
Market Size and Forecast
Active Ingredients
Market Size and Forecast
Chapter 6 Market Breakdown by Type
Introduction
Global Market Size and Forecast
Western Herbalism
Market Size and Forecast
Traditional Chinese Medicine
Market Size and Forecast
Ayurveda
Market Size and Forecast
Others
Market Size and Forecast
Chapter 7 Market Breakdown by Application
Introduction
Global Market Size and Forecast
Pharmaceuticals and Nutraceuticals
Market Size and Forecast
Personal Care and Beauty Products
Market Size and Forecast
Food and Beverages
Market Size and Forecast
Chapter 8 Market Breakdown by Form
Introduction
Global Market Size and Forecast
Tablets and Capsules
Market Size and Forecast
Liquids and Gels
Market Size and Forecast
Others
Market Size and Forecast
Chapter 9 Market Breakdown by Distribution Channel
Introduction
Global Market Size and Forecast
Retail Pharmacy
Market Size and Forecast
Hospital Pharmacy
Market Size and Forecast
Online Pharmacy
Market Size and Forecast
Others
Market Size and Forecast
Chapter 10 Market Breakdown by Region
Introduction
North America
The U.S.
Canada
Europe
The U.K.
Germany
France
Spain
Italy
Russia
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia-Pacific
Rest of the World
Market Size and Forecast
Chapter 11 Regulatory Aspects
Introduction
WHO Guidelines for Herbal Medicines
European Union Guidelines for Herbal Medicines
Chapter 12 Emerging/Upcoming Technologies
Introduction
Herbal Medicine Research and Analysis Tools
Nanotechnology
Phytopharmaceuticals and Standardization
Personalized Herbal Medicine
Blockchain for Herbal Product Traceability
Plant Biotechnology
Bioinformatics and Data Mining
Future Opportunities
Chapter 13 ESG Development
Introduction
Environmental Factors in the Market for Herbal Medicine
Social Factors in the Market for Herbal Medicine
Governance Factors in the Market for Herbal Medicine