Global herbal medicine industry expected to reach $178.4 billion by 2026

Global herbal medicine industry expected to reach $178.4 billion by 2026

Dublin, Sept. 21, 2022 (GLOBE NEWSWIRE) — The ‘Herbal Medicines – Global Market Trajectory & Analytics’ report has been added to from ResearchAndMarkets.com offer.

The global herbal medicine market, estimated at US$135 billion in 2022, is expected to reach a revised size of US$178.4 billion by 2026, growing at a CAGR of 8.1% over the period. ‘to analyse.

Herbal Pharmaceuticals, one of the segments analyzed in the report, is expected to grow at a CAGR of 8.6% to reach US$84.1 billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, the growth of the plant-based functional foods segment is readjusted at a revised CAGR of 7.9% for the next 7-year period. This segment currently accounts for a 25.4% share of the global herbal medicine market.

Known for their medicinal properties, the leaves of medicinal plants are extracted to produce many herbal supplements. Herbal pharmaceuticals and supplements contain whole plants or individual parts of plants used to prevent or treat disease or illness. As well as offering reliable treatment drugs for a range of health ailments, herbal medicines are also ideal for use in food and beverage products as health consciousness is poised to remain one important aspects of the modern population.

The US market is estimated at $24.5 billion in 2022, while China is expected to reach $32.9 billion by 2026

The herbal medicine market in the United States is estimated to be worth US$24.5 billion in 2022. The country currently accounts for an 18.4% share of the global market. China, the world’s second largest economy, is expected to reach an estimated market size of US$32.9 billion in 2026 growing at a CAGR of 10.8% over the analysis period.

Other noteworthy geographic markets include Japan and Canada, each forecasting growth of 7.4% and 7.1% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of around 6.5%, while the rest of the European market (as defined in the study) will reach US$35.8 billion by the end of the year. analysis period. Demand for herbal supplements has been mostly concentrated in the West, due to relatively high levels of health awareness and widespread and easy access to products.

An aging population, changing perception of health, and the threat posed by antimicrobial resistance are driving demand for herbal supplements and remedies. Major growth factors in emerging countries include population expansion, growing trend towards healthy living among consumers, increased consumer awareness of wellness and dietary requirements, and growing demand for natural remedies. Growth in the region is supported by a cultural affinity with herbalism and strong consumer confidence in the efficacy and safety of herbal ingredients.

Herbal Beauty Products Segment to Reach $20.2 Billion by 2026

Medicinal herbs offer highly functional ingredients for the manufacture of beauty products and cosmetics. Herbal ingredients provide reliable ingredients to enrich cosmetics and offer much better functionality than ordinary chemical based cosmetics.

The growing adoption of these herbal products is attributed to growing consumer awareness of the negative implications of inorganic cosmetic ingredients. In the global herbal beauty products segment, the United States, Canada, Japan, China and Europe will drive the estimated CAGR of 4.8% for this segment.

These regional markets representing a combined market size of US$11.4 billion will reach a projected size of US$15.8 billion by the end of the analysis period. China will remain among the fastest growing markets in this group of regional markets. Led by countries like Australia, India, and South Korea, the Asia-Pacific market is expected to reach US$2.7 billion by 2026, while Latin America will grow at a CAGR of 5.8% over the analysis period.

Select contestants (234 total featured):

  • Arizona Naturals
  • ARKOPHARMA SARL Laboratories
  • Bayer AG
  • Blackmore Ltd.
  • Dasherb Corp.
  • doctor Willmar Schwabe India Pvt. ltd
  • Himalayan Wellness Society
  • Hishimo Pharmaceuticals Pvt. ltd.
  • Schaper & Brummer GmbH & Co. KG
  • ZeinPharma Germany GmbH

Main topics covered:

I. METHODOLOGY

II. ABSTRACT

1. MARKET OVERVIEW

  • Overview of the influencer market
  • Global Market Trajectories
  • Impact of Covid-19 and a looming global recession
  • 2020: A year of disruption and transformation
  • As the race between the virus and vaccines heats up, where does the global economy stand in 2021
  • World economic growth projections (real GDP, % annual change) for 2020 to 2022
  • Role of phytotherapy in the fight against Covid-19
  • The pandemic is leading to increased consumer focus on health and wellness products, which is driving the consumption of herbal supplements and foods
  • Heal Yourself Motto Amid COVID-19 Boosts Herbal Medicine Adoption
  • Medicinal plants on the march as mutant versions of the COVID-19 virus emerge
  • A regional snapshot of how herbal medicine gained attention amid the pandemic
  • Herbal medicines – Percentage of market share of the main global competitors in 2022 (E)
  • Competitive Market Presence – Strong/Active/Niche/Trivial for Gamers Worldwide in 2022 (E)
  • A herbal prelude
  • Herbal medicine market overview
  • Outlook
  • Geographic landscape
  • An overview of some markets
  • Japan
  • China
  • China gives green signal to herbal medicines to expand COVID-19 treatment options
  • India
  • Salient factors making plant protection products a promising niche market in India
  • South Korea
  • Cuba
  • Africa
  • Thailand
  • Why few herbal medicines have gained approval as prescription drugs?
  • Recent market activity
  • Global brands

2. FOCUS ON CERTAIN PLAYERS

3. MARKET TRENDS AND DRIVERS

  • The market will benefit from growing concerns about the side effect profile of synthetic drugs
  • Evolution of preference towards traditional medicines to expand the addressable market
  • Growing use of herbal fortified functional foods
  • Herbal supplements are gaining traction
  • Leaf and root extracts grow well
  • Key trends and products shaping the herbal supplements market
  • Growing popularity of curcumin and turmeric products
  • Consumer focus on organic self-care products
  • Nutritional deficiencies and physical inactivity open up new avenues
  • Ashwagandha: a star
  • Fall of CBD products
  • Adaptogens: growing role as an anti-stress agent
  • Natural garlic supplements are gaining popularity for maintaining a healthy heart
  • Ginkgo Biloba is gaining popularity for the treatment of blood disorders and memory impairment
  • Echinacea is becoming popular for its immune boosting properties
  • St. John’s wort for depression and mood disorders
  • Ginseng supplements to boost energy
  • Ayurvedic supplements go mainstream
  • Research evidence supports the positive role of herbal remedies in boosting immunity and managing stress
  • Changing demographics and increasing emphasis on prospects for improving preventive health care
  • Demand for Traditional Chinese Medicine Rises Amid Pandemic
  • New technologies are transforming Chinese herbal medicine
  • Indian Ayurveda to witness rapid global growth led by pandemic
  • Demand for Ashwagandha Containing Supplements Will Soar
  • Growing opportunities for medicinal plants in the beauty and cosmetics sector
  • The threat of antimicrobial resistance generates opportunities
  • Deaths from antimicrobial resistance will increase by 2050
  • With depression becoming more common, herbal alternatives are gaining attention
  • Antidepressants Market: Percentage Share Breakdown by Type of Depressive Disorder
  • Use of herbal supplements in dentistry rises amid concerns
  • Increase in aging population drives demand
  • Population aging increases health care burden: global population aging statistics for age group 65+ in millions by geographic region for years 2019, 2025, 2035 and 2050
  • Global cost of chronic diseases (in billions of US dollars) for the years 2018 and 2030
  • Women’s Unique Health Care Needs Drive Demand for Various Herbal Supplements
  • Growing focus on weight management drives demand for herbs that aid in weight loss
  • Epidemic obesity rates lead to increased focus on weight management
  • Obesity prevalence rate (%) in selected countries for the years 2019 and 2030P
  • Global obesity epidemic: percentage of overweight, obese and severely obese adults for 2014 and 2025
  • Rising prevalence of chronic diseases and lifestyle improve consumer demand
  • Global cancer incidence: number of new cancer cases in millions for the years 2018, 2020, 2025, 2030, 2035 and 2040
  • Global distribution of total cancer cases by type: 2020
  • World diabetes and population statistics (2019, 2030 and 2045)
  • Global annual medical cost of cardiovascular diseases in billions of US dollars: 2010, 2015, 2020, 2025 and 2030
  • Urbanization Trend Drives Adoption of Herbal Supplements
  • World urban population in thousands: 1950-2050P
  • Herbal Medicine Regulatory Regime
  • The EU regulatory system for herbal medicines
  • Emerging demand for CSR and sustainable sourcing
  • Key Challenges Hindering Herbal Medicines and Supplements Growth Prospects
  • Risky drug interactions between herbs and conventional drugs challenge market outlook
  • Safety assessment and registration requirements restrict herbal medicine market

4. GLOBAL MARKET OUTLOOK

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/jq4f0r

  • Global herbal medicines market

        

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