Global Herbal Medicines Market Report Report 2023: A $248.6 Billion Market by 2030 - Ashwagandha Emerges as the Star Performer

DUBLIN, May 12, 2023 /PRNewswire/ -- The "Herbal Medicines: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Herbal Medicines Market to Reach $248.6 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Herbal Medicines estimated at US$135.8 Billion in the year 2022, is projected to reach a revised size of US$248.6 Billion by 2030, growing at a CAGR of 7.9% over the analysis period 2022-2030.

Herbal Pharmaceuticals, one of the segments analyzed in the report, is projected to record a 8.1% CAGR and reach US$106.6 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Herbal Functional Foods segment is readjusted to a revised 7.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $24.6 Billion, While China is Forecast to Grow at 10.3% CAGR

The Herbal Medicines market in the U.S. is estimated at US$24.6 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$50.2 Billion by the year 2030 trailing a CAGR of 10.3% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.8% and 6.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$40.3 Billion by the year 2030.

What`s New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Topics Covered:

MARKET OVERVIEW

• Role of Herbal Medicine in the Fight against COVID-19
• Pandemic-Driven Consumer Focus on Health & Wellness Drives Consumption of Herbal Supplements and Foods
• Heal Thyself Motto amid COVID-19 Propels Uptake of Herbal Medicines
• Herbal Medicines Find Use as Agents in Management of COVID-19 Patients
• Herbal Medicines and Natural Products Exhibit Potential in Fighting COVID-19
• Herbal Medicines on the March as Mutant Versions of COVID-19 Virus Emerge
• Regional Overview of How Herbal Medicine has Gained Attention Amid the Pandemic
• Herbal Companies Focus on Adapting and Tapping Opportunities Emerging from COVID-19 Pandemic
• A Prelude to Herbs
• An Introduction to Herbal Medicine
• Global Market Outlook
• Analysis by Geographic Region
• An Overview of Select Markets
• Why Have Few Herbal Medicines Secured Approval as Prescription Medicines?
• Competition
• Herbal Medicines - Global Key Competitors Percentage Market Share in 2022 (E)
• Ayurvedic Medicines Market - Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• World Brands
• Recent Market Activity

MARKET TRENDS & DRIVERS

• Market to Gain from Mounting Concerns Over Side Effect Profile of Synthetic Drugs
• Growing Inclination towards Traditional Medicines to Widen the Addressable Market
• Rising Uptake of Medicinal Herbs Enriched Functional Foods
• Herbal Supplements Gain Traction
• Key Trends and Products Shaping the Herbal Supplements Market
• Leaves, Roots Extracts Thrive Well
• Rising Popularity of Curcumin & Turmeric Products
• Consumer Focus on Self-Care Organic Products
• Nutritional Deficiency & Sedentary Lifestyle Open New Avenues
• Ashwagandha: A Star Performer
• Fall of CBD Products
• Adaptogens: Growing Role as a Stress Buster
• Natural Garlic Herbal Supplements Gain Interest for Keeping a Healthy Heart
• Ginkgo Biloba Gains Popularity for Treatment of Blood Disorders and Memory Disorders
• Echinacea Gets Popular for Immune Stimulating Properties
• St. John's Wort for Depression and Mood Disorders
• Ginseng Supplements for Energy Boost
• Ayurvedic Supplements Go Mainstream
• Research Evidence Supports Positive Role of Herbal Remedies in Boosting Immunity and Stress Management
• Changing Demographics and Growing Emphasis on Preventive Healthcare Boost Prospects
• Demand for Traditional Chinese Medicine Surges amid the Pandemic
• New Technologies Transform Chinese Herbal Medicine
• Indian Ayurveda to Witness Rapid Worldwide Growth led by the Pandemic
• Demand for Ashwagandha Containing Supplements to Soar
• Ayurvedic Medicine Finds Acceptance Amidst the Pandemic
• Growing Opportunities for Herbal Medicines in Beauty & Cosmetics Sector
• Threat of Antimicrobial Resistance Drives Opportunities
• Deaths from Antimicrobial Resistance to Increase by 2050
• With Depression Increasingly Becoming a Common, Herbal Alternatives Gain Attention
• Anti-Depressant Market: Percentage Share Breakdown by Depressive Disorder Type
• Herbal Supplement Usage in Dentistry Surges amid Concerns
• Rising Global Aging Population Drives Demand
• Unique Healthcare Needs of Women Propel Demand for Various Herbal Supplements
• Increasing Focus on Weight Management Spurs Demand for Herbs that Aid Weight Loss
• Epidemic Proportions of Obesity Lead to Increased Focus on Weight Management
• Increasing Prevalence of Chronic & Lifestyle Diseases Enhances Consumer Demand
• Urbanization Trend Drives Uptake of Herbal Supplements
• World Urban Population in Thousands: 1950-2050P
• Regulatory Regime for Herbal Medicine
• The EU Regulatory System for Herbal Medicinal Products
• Emerging Demand for CSR and Sustainable Sourcing
• Key Challenges Hampering Growth Prospects for Herbal Medicines and Supplements
• Risk Drug Interactions between Herbs and Conventional Drugs Challenge Market Prospects
• Safety Assessment and Registration Requirements Restrict Herbal Medicinal Market

FOCUS ON SELECT PLAYERS (Total 203 Featured) 

• Arizona Natural Products
• Bayer AG
• Blackmores Ltd.
• Dasherb Corp.
• Dr. Willmar Schwabe India Pvt. Ltd.
• Himalaya Wellness Company
• Hishimo Pharmaceuticals Pvt. Ltd.
• Schaper & Brummer GmbH & Co. KG
• ZeinPharma Germany GmbH
• Venus Pharma GmbH
• Bio-Botanica, Inc.
• Genius Nature Herbs Pvt. Ltd.
• Potter's Herbals

For more information about this report visit https://www.researchandmarkets.com/r/ku3onl

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