Herbal medicines are the most widely used medicines. Herbal medicines have originated from different cultures. The herbal medicine market is anticipated to expand considerably during the forecast period. Its growth should be ascribed to consumer choice for aromatherapy and natural medicines.
Higher demand for
botanical & herbal products in chewable, combo, & multi-formula
capsules & tablets also propels market incomes. Herbal medicines contain
formulations, supplements, & finished products. Herbal supplements are more
helpful than conventional ones and have no or less side effects.
Confidence in the
adoption & effectiveness of natural and organic products is also likely to
drive the market in the years ahead. Higher costs of medicines and lifestyle
& medical care have coerced users to consume cheaper & improved herbal
supplements. Lesser disposable earnings have also propelled customers to go for
these herbal supplements.
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Functional foods
having herbal constituents can also increase demand for the herbal medicine
market. The market is classified as per products, applications, and regions.
Products include multi-herbs, ginkgo biloba, garlic, and specialty herbs.
Multi-herbs are predicted to rise at the maximum CAGR owing to wider
‘multi-vitamin’ consumption.
Garlic and ginkgo biloba may notice significant expansion. Based on applications, the market is fragmented by western herbalism, Ayurveda, Homeopathy, and traditional Chinese medicine. Western herablism is a curative art and has its origins in America and Europe.
Garlic and ginkgo biloba may notice significant expansion. Based on applications, the market is fragmented by western herbalism, Ayurveda, Homeopathy, and traditional Chinese medicine. Western herablism is a curative art and has its origins in America and Europe.
Usage of Native
American & European herbs for curing & preventing various diseases may
drive application demand. Regions wise, the global herbal medicine market is
categorized into Europe, Asia Pacific, Americas, and the Middle East. Europe
led the market. Asia Pacific is the most rapidly expanding market.
The same would be
credited to its growing disposable earnings and organic healthcare supplements.
Singapore, Philippines, China, and India are predicted to undergo robust
expansion in the forecast period. Middle Eastern and Asian markets can expand
as per consumer awareness, product presence & approval, and policies.
Key players of the
global market comprise Ricola Vertriebs AG, Arizona Natural Products, Potters
Herbal Medicines, and Bio-botanica Inc. However, certain herbs like coca and
cannabis are forbidden for consumption in majority of the nations.
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