A recent report published by Infinium Global Research on herbal medicine market provides in-depth analysis of segments and sub-segments in the global as well as regional herbal medicine market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional herbal medicine market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global herbal medicine market.
Herbal medicine, also known as botanical medicine, involves using plant parts like seeds, roots, and leaves for medicinal purposes. This holistic approach utilizes natural substances to prevent and treat various health conditions, offering remedies such as teas, tinctures, capsules, and topical applications. One major advantage is its potential for effective treatments with fewer side effects compared to synthetic drugs. Herbal medicine addresses root causes of health issues, promoting long-term well-being, and is often seen as a sustainable and eco-friendly healthcare option.
The herbal medicine market is growing significantly, driven by increasing consumer interest in natural remedies and holistic health. Many people are turning to herbal solutions as alternatives to traditional medicines, seeking safer options free from synthetic chemicals. This shift reflects a desire for healthcare that addresses underlying health issues, not just symptoms. Government support and favorable regulations are boosting market expansion by enhancing credibility and consumer trust in herbal products. However, challenges such as complex approval processes and quality control issues pose hurdles for manufacturers. Nonetheless, advancements in research and technology are facilitating the discovery of new herbal remedies and expanding product offerings.
Based on the source, the global herbal medicine market is segmented into barks, leaves, roots, and others. Among these, the roots segment led the market with the largest revenue share of more than 37% in 2024. This dominance is primarily attributed to the high medicinal value and potency of root-derived compounds, which are widely utilized in traditional and modern herbal formulations. Roots are rich in essential bioactive constituents such as alkaloids, tannins, and glycosides, making them effective in treating various chronic conditions, including inflammation, digestive disorders, and respiratory ailments. Additionally, the extensive use of roots in Ayurveda, Traditional Chinese Medicine (TCM), and other indigenous healing systems further strengthens their market presence and drives continued demand across pharmaceutical and nutraceutical applications.
Based on the application, the global herbal medicine market is segmented into food & beverages, pharmaceuticals, and others. Among these, the pharmaceutical segment accounts for the largest market share, driven by the increasing adoption of herbal ingredients in the development of natural and alternative medicines. Herbal formulations are widely used for treating chronic diseases, boosting immunity, and promoting overall wellness due to their minimal side effects and therapeutic efficacy. The food & beverages segment is also witnessing significant growth, as consumers increasingly prefer herbal-based functional foods, dietary supplements, and drinks that promote health and prevent lifestyle-related disorders. The other segment, which includes cosmetics and personal care products, is expanding rapidly owing to the rising demand for natural skincare and haircare solutions derived from herbal ingredients.
Based on the formulation type, the global herbal medicine market is segmented into syrups, powder, capsules & tablets, and others. The capsules & tablets segment led the market with the largest revenue share of around 46% in 2023. This dominance is attributed to their convenient dosing, ease of consumption, longer shelf life, and portability, which make them highly preferred by consumers worldwide. Additionally, capsules and tablets allow for precise formulation of active herbal ingredients, ensuring consistent therapeutic efficacy, which further drives their widespread adoption in pharmaceutical, nutraceutical, and dietary supplement applications.
Based on the distribution channel, the global herbal medicine market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and others. Among these, retail pharmacies hold a significant share of the market due to their wide accessibility, trusted service, and established presence in both urban and rural areas. Online pharmacies are experiencing rapid growth, driven by increasing internet penetration, the convenience of doorstep delivery, and rising consumer preference for discreet purchasing. Hospital pharmacies primarily cater to prescriptions and institutional demand, while the other segment includes specialized herbal stores and wellness centers, contributing to the market by offering niche and traditional herbal products.
The Asia Pacific region boasts a thriving market for herbal medicine, rooted in its rich cultural traditions of herbal healing, expansive and diverse population, growing health consciousness, increasing investments in research and development, and supportive regulatory frameworks. Consumers in the region are increasingly turning to herbal remedies as alternatives to synthetic drugs, driving market growth and innovation. With a historical legacy of traditional medicine systems like Ayurveda and Traditional Chinese Medicine, the Asia Pacific is a key player in the global herbal medicine market, making it a focal point for both traditional and contemporary herbal healthcare solutions.
In December 2024, Himalaya Wellness, a leading brand in herbal and plant-based supplements and personal care products, announced the launch of its new 28-count PartySmart bottle. PartySmart, the brand's best-selling herbal formula, is now more convenient for stocking up for celebrations, maintaining a personal supply at home, or sharing with family and friends.
In October 2024, Himalaya Wellness announced the nationwide expansion of its Organic Ashwagandha in Kroger, the top grocery retailer in the United States.
In September 2024, Bio-Botanica, Inc. and Gillco Products LLC, an Azelis® Company, announced that they have reached an agreement for Gillco to become the exclusive distributor of Bio-Botanica's botanical extract ingredients to companies in the food, beverage, and dietary supplement industries in the United States.
| Report Coverage | Details |
|---|---|
| Market Size in 2023 | USD 77.45 Billion |
| Market Size by 2032 | USD 304.65 Billion |
| Growth Rate from 2024 to 2032 | CAGR of 16.74% |
| Largest Market | Asia Pacific |
| No. of Pages | 255 |
| Market Drivers |
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| Market Segmentation | By Source, By Application, and By Formulation Type |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global herbal medicine market provides a detailed analysis of segments in the market based on Source, Application, and Formulation Type.
· Barks
· Leaves
· Roots
· Others
· Food & Beverages
· Pharmaceuticals
· Others
· Syrups
· Powder
· Capsules & Tablets
· Others
· Himalaya Global Holdings Ltd.
· Schaper & Brümmer
· Hishimo Pharmaceuticals Pvt. Ltd.
· Blackmores Limited
· Bio-Botanica, Inc.
· Bayer AG
· Patanjali Ayurved Limited
· Weleda
· Nutraceuticals Group
· Emami Limited
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the herbal medicine market. Moreover, the study highlights current market trends and provides forecasts from 2024-2032. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.