The global herbal medicine market is expected to grow on account of increasing consumer preferences for natural medicines and aromatherapy over the forecast period. Increased demand for herbal and botanical products in multi-formula, combo packs and chewable tablets & capsules is one of the major factors driving the market growth.
Herbal
medicines include herbal supplements, herbal preparations, and finished herbal
products that contain active ingredients which are derived from plant
materials.
Furthermore,
herbal supplements have little or no side effects and are proven more effective
than conventional supplements. The growing belief in the use and effectiveness
of organic and natural products is projected to drive market growth over the
coming years.
Increasing
medicine prices, lower disposable incomes, and huge healthcare & lifestyle
costs, have compelled consumers to opt for herbal supplements that are a
healthier, cheaper, and safer option to get relief from ailments, being mental
or physical.
Increased
consumption of functional foods fortified with herbal ingredients, usage of
herbs in the prevention of health issues, and the guidelines commissioned
related to Current Good Manufacturing Practices (CGMP) for dietary supplements
by FDA are anticipated to augment the herbal medicine demand over the coming
years.
One of
the major trends in the herbal medicine market is the rising adoption of herbal
supplements. Fish oil and other natural offerings such as probiotics &
detoxes are some of the emerging natural alternatives to the conventional
synthetic supplements.
Increasing
sale of food supplements such as herbal extracts, and glucosamine,
multivitamins, omega-3s, probiotics, and chondroitin owing to their
anti-medicinal properties and low-cost is expected to propel the market growth
over the forecast period.
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Middle-aged
women and aged people are the major consumers of the herbal supplements. Rising
consciousness towards health & diet and attention given to preventive
health care measures have propelled the demand for health-imparting herbal
supplements.
Many
herbal supplements manufacturers have developed alternative therapies to
relieve women from problems such as insomnia, menopause, and hot flashes. The
aged population represents another major consumer group for herbal supplements
and remedies.
The
herbal medicine market is segmented into products such as ginkgo Biloba,
garlic, multi-herbs, and specialty herbs. Multi herbs are expected to grow at
the highest rate on account of increasing intake of multivitamins and for
curing a range of diseases. Ginkgo biloba and garlic are also major segments
anticipated to witness considerable growth over the forecast period.
Regulatory
authorities such as the European Directive on Traditional Herbal Medicinal Products
by the European Union (EU) and World Health Organization (WHO) by the U.N are
regulatory bodies commissioning guidelines and rules related to the content of
herbal ingredients in the supplement.
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The
World Health Organization (WHO), published methods of quality control for
medicinal plant materials to support WHO Member States in establishing quality
standards and specifications for herbal materials.
Herbs
such as cannabis and coca are banned in most of the countries though coca is
still prevalent in South America and it is expected that this segment will
witness considerable growth on account of the growing production of coca in
this country.
Ephedra
herb sale is banned by the U.S on account of regulations by the Food and Drug
Administration owing to the restrictions in the U.K. Soy, Echinacea, aloe vera
and horse chestnut are some of the major herbs driving the demand for herbal
medicine and are likely to boost the market growth over the projected period.
The
global herbal medicine market is segmented by applications such as western
herbalism, homeopathy, Ayurveda, and traditional Chinese medicine.
Western
herbalism is a healing art that has a traditional origin in Europe and America.
The increasing use of European and Native American herbs in the treatment and
prevention of illness is expected to cause a considerable growth of this
segment from 2016 to 2024.
Europe
dominated the global herbal medicine market on account of increased penetration
of global players concerned with the manufacturing of herbal supplements. The
ease of obtaining approvals for herbal medicines and defined guidelines stated
for the production and testing of these products is expected to augment the
herbal medicine market growth in Europe.
Asia
Pacific is the fastest growing segment on account of rising consumer
preferences for organic medicinal supplements and increase in disposable
income. Countries such as Philippines, India, China, Japan, Singapore, and
Malaysia are expected to witness promising growth over the forecast period.
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The
herbal medicine market in the Asian and Middle Eastern region is anticipated to
grow in accordance with factors such as product availability, delivery,
consumer awareness, product acceptance, and regulations implemented by the
government.
The
major market players operating in the global herbal medicine segment are
Arizona Natural Products, Himalaya Drug Company, Nature’s Aid, NBTY Inc.,
Ricola AG, Indfrag Limited, DSM Nutritional Products, Bio-botanica Inc.,
Arkopharma SA, and Blackmores Limited, Nutraceutical Corporation, Potters
Herbal Medicines, Twinlab Corporation, and Pharmawhite LLC.
Table of Contents
1 Industry Overview of Herbal Medicine
2 Manufacturing Cost Structure Analysis of
Herbal Medicine
3 Technical Data and Manufacturing Plants
Analysis of Herbal Medicine
4 Capacity, Production and Revenue Analysis
of Herbal Medicine by Regions, Types and Manufacturers
5 Price, Cost, Gross and Gross Margin
Analysis of Herbal Medicine by Regions, Types and Manufacturers
6 Consumption Volume, Consumption Value and
Sale Price Analysis of Herbal Medicine by Regions, Types and Applications
7 Supply, Import, Export and Consumption
Analysis of Herbal Medicine
8 Major Manufacturers Analysis of Herbal
Medicine
9 Marketing Trader or Distributor Analysis of
Herbal Medicine
10 Industry Chain Analysis of Herbal Medicine
11 Development Trend of Analysis of Herbal
Medicine
12 New Project Investment Feasibility
Analysis of Herbal Medicine
13 Conclusion of the Global Herbal Medicine
Industry 2016 Market Research Report
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