DUBLIN, Feb. 9, 2024 /PRNewswire/ — The “Global Herbal Medicine Market Size, Share & Trends Analysis Report By Application (Pharmaceutical & Nutraceutical, Personal Care & Beauty Products, and Food & Beverages), By Form, By Regional Outlook and Forecast, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The Global Herbal Medicine Market size is expected to reach $342 billion by 2030, rising at a market growth of 7.9% CAGR during the forecast period.
Highlighted within the report is the significant growth trajectory observed in the tablets & capsules form segment, which dominated the market share in 2022. This segment is especially notable for its precise dosage, stability, and palatability, contributing to the reliability and efficiency of herbal medicine consumption.
The application analysis shed light on the diverse uses of herbal medicine, with a special mention of the food & beverages segment which acquired a substantial revenue share in 2022. This sector flourishes as manufacturers innovate with herbal infusions and functional beverages that merge refreshment with health benefits.
Regional insights reveal that Europe led the market in terms of revenue share in 2022, driven in part by its extensive cosmetics industry and the escalating demand for products with natural ingredients. Meanwhile, North America, particularly the United States market, saw a notable increase in consumer awareness and preference for natural healthcare products amidst environmental concerns and a robust personal care and beauty product industry.
Moreover, the impact of the pandemic is dissected within the report, highlighting the moderate effects of COVID-19 on the market dynamics, including supply chain disruptions and a surge in e-commerce. This shift to digital has paved the way for market expansion and is instrumental in meeting the increased consumer demand for immune-boosting herbal solutions.
Despite the positive outlook, the report also addresses the challenges that the market may face. A lack of education about herbal medicines can lead to misuse and safety concerns. The report emphasizes the importance of informing consumers to avoid adverse events and to maintain the credibility and trust in herbal remedies.
Report Segmentation
By Form Analysis
Tablets & Capsules
Liquid & Gel
Powder
By Application Analysis
Pharmaceutical & Nutraceutical
Personal Care & Beauty Products
Food & Beverages
Regional Outlook
North America
Europe
Asia Pacific
LAMEA (Latin America, Middle East, Africa)
The report provides strategic analysis tailored for stakeholders in the herbal medicine industry, revealing key insights on market opportunities, trends, and potential hurdles to inform sound business decisions.
As the appeal for holistic, natural healthcare solutions continues to grow at a global scale, this extensive analysis of the herbal medicine market serves as a crucial resource for industry participants looking to navigate the evolving landscape and harness the potential for substantial growth and innovation.
Companies Profiled
Herbalife nutrition Ltd.
Blackmores Limited (Kirin Holdings Company, Limited)
Himalaya Global Holdings Ltd.
Nutraceutical Corporation
Patanjali Ayurved Limited
Genius Nature Herbs Private Limited
Bio-Botanica, Inc.
21ST Century HealthCare, Inc.
Emami Limited
Cultivator Natural Products Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ad9y85
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SOURCE Research and Markets
