Summary
The global Herbal Medicine Market is expected to witness a CAGR of xx% over the forecast period 2021-2027 and is expected to reach US$ xx million in 2027, from US$ xx million in 2020.
Overview:
An herb is a plant or part of the plant used for its scent, flavor, or therapeutic properties. Herbal medicines are one type of dietary supplement. Herbal drugs are a type of dietary supplement extracted from different parts of the plant such as bark, leaves, seeds, roots, and berries. These drugs are available in various dosage forms such as tablets, dried plants, extracts, and others. Herbal medicines are used to treat disease and enhance general health and well-being. Herbal medicines are majorly used for health promotion and therapy for chronic conditions. Moreover, the use of traditional remedies, such as herbal medicine, increases when conventional medicine becomes ineffective in treating the disease. Thus, the demand for herbal medicine has increased across the world in recent times.
Market Drivers:
Growing preference for traditional/natural remedies by consumers and the outbreak of COVID-19 is expected to boost the growth of the global herbal medicine market during the forecast period. There is an increasing demand for safe and effective COVID-19 treatment. For instance, in October 2020, the Government of Madagascar opened the country's first non-chemical herbal medicine factory to boost the production of COVID-19 preventive drugs. Moreover, in July 2020, the World Health Organization (WHO) and Africa Centre for Disease Control launched an expert committee to aid African countries in the use of traditional medicine against the novel coronavirus. Hence, such factors are expected to drive the growth of the global herbal medicine market during the forecast period. Moreover, increasing awareness among people about the use and dosage of herbal medicines, increasing research funding for herbal medicines, and rise in applications of herbal medicine are expected to propel the market growth.
Market Restraints:
High cost of raw materials, side effects and allergic reactions, and lack of awareness among people about the use and dosage of herbal medicines is expected to hamper the growth of the global herbal medicine market over the forecast period. For instance, taking a combination of herbal supplements or using supplements together with prescription drugs could lead to harmful, even life-threatening results.
Regional Insights:
Among regions, Asia Pacific is expected to witness robust growth in the global herbal medicine market due to the growing preference for natural medicines by consumers and an increasing number of COVID-19 cases across the region, especially in India. For instance, in May 2021, the Ministry of Ayush, India, launched a nationwide campaign to distribute its polyherbal ayurvedic drugs AYUSH 64 and Sidha drug Kabasura Kudineer for the benefit of COVID-19 patients that have not been hospitalized. This campaign is launched to deal with a massive surge in COVID-19 cases that has pushed the healthcare infrastructure of the country to its limit.
Competitive Section:
Major companies involved in the global herbal medicine market are Zhongxin, Haiyao, Taiji, JZJT, Sanjiu, TASLY, Tongrentang, Yunnan Baiyao, Imperial Ginseng, Nature Herbs, Zand, Potter's, Bio-Botanica, Herbal Africa, Dabur, SIDO MUNCUL, Arkopharma, Blackmores, Weleda, Madaus, Schwabe, Tsumura, Arizona Natural, Kunming Pharma, Nature's Answer, and Guangzhou Pharma, among others.
For instance, in September 2021, Tanzania's Zanzibar authorities launched a research project to enhance the use of herbal medicines as an alternative cure for non-communicable diseases.
The Herbal Medicine Market report highlights product development and growth strategies such as mergers and acquisitions adopted by market players along with SWOT Analysis, PEST, and Porter’s Five Forces analyses of the Herbal Medicine Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- Tsumura
- Schwabe
- Madaus
- Weleda
- Blackmores
- Arkopharma
- SIDO MUNCUL
- Arizona Natural
- Dabur
- Herbal Africa
- Nature's Answer
- Bio-Botanica
- Potter's
- Zand
- Nature Herbs
- Imperial Ginseng
- Yunnan Baiyao
- Tongrentang
- TASLY
- Zhongxin
- Kunming Pharma
- Sanjiu
- JZJT
- Guangzhou Pharma
- Taiji
- Haiyao
By Product Type, the market is primarily segmented into:
- Detoxification Medicine
- Antipyretic Medicine
- Aigestant Medicine
- Blood Circulation Medicine
- Others
By Applications, the market is segmented into:
- Western Herbalism
- Traditional Chinese Medicine
- Others
The report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
The objective of the Herbal Medicine Market Report:
- To assess the size of the market by value and volume
- Analyze the Herbal Medicine Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Herbal Medicine Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of-the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact the growth of the Herbal Medicine Market
The Herbal Medicine Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Herbal Medicine Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type, and application, 2020 are considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
Available Customizations:
Custom research is one of the most crucial components of the business strategy that helps an organization gain insight into a specific business sector, aligned with its specific area of interest. Thus, SMI offers more accurate, pragmatic, and actionable information specifically tailored to suit your business needs.
1 Report Overview
1.1 Study Scope
1.2 Key Market Segments
1.3 Players Covered: Ranking by Herbal Medicine Market Revenue
1.4 Market Analysis by Type
1.5 Market by Application
1.5.1 Global Herbal Medicine Market Share by Application: 2021 VS 2027
1.6 Coronavirus Disease 2019 (Covid-19) Impact: Herbal Medicine Market
1.6.1 How the Covid-19 is Affecting the Herbal Medicine Market
1.6.1.1 Herbal Medicine Market Business Impact Assessment - Covid-19
1.6.2 Market Trends and Herbal Medicine Market Potential Opportunities in the COVID-19 Landscape
1.6.3 Measures / Proposal against Covid-19
1.6.3.1 Government Measures to Combat Covid-19 Impact
1.7 Study Objectives
1.8 Years Considered
2 Global Growth Trends by Regions
2.1 Herbal Medicine Market Perspective (2015-2027)
2.2 Herbal Medicine Market Growth Trends by Regions
2.2.1 Herbal Medicine Market Size by Regions: 2015 VS 2021 VS 2027
2.2.2 Herbal Medicine Market Historic Market Share by Regions (2015-2021)
2.2.3 Herbal Medicine Market Forecasted Market Size by Regions (2021-2027)
2.3 Industry Trends and Growth Strategy
2.3.1 Market Top Trends
2.3.2 Market Drivers
2.3.3 Market Challenges
2.3.4 Porters Five Forces Analysis
2.3.5 Herbal Medicine Market Growth Strategy
2.3.6 Primary Interviews with Key Herbal Medicine Market Players (Opinion Leaders)
3 Competition Landscape by Key Players
3.1 Global Top Herbal Medicine Market Players by Market Size
3.1.1 Global Top Herbal Medicine Market Players by Revenue (2015-2021)
3.1.2 Global Herbal Medicine Market Revenue Market Share by Players (2015-2021)
3.1.3 Global Herbal Medicine Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
3.2 Global Herbal Medicine Market Concentration Ratio
3.2.1 Global Herbal Medicine Market Concentration Ratio (CR5 and HHI)
3.2.2 Global Top 10 and Top 5 Companies by Herbal Medicine Market Revenue in 2019
3.3 Herbal Medicine Market Key Players Head office and Area Served
3.4 Key Players Herbal Medicine Market Product Solution and Service
3.5 Date of entering into Herbal Medicine Market
3.6 Mergers & Acquisitions, Expansion Plans
4 Breakdown Data by Type (2015-2027)
4.1 Global Herbal Medicine Market Historic Market Size by Type (2015-2021)
4.2 Global Herbal Medicine Market Forecasted Market Size by Type (2021-2027)
5 Herbal Medicine Market Breakdown Data by Application (2015-2027)
5.1 Global Herbal Medicine Market Size by Application (2015-2021)
5.2 Global Herbal Medicine Market Forecasted Market Size by Application (2021-2027)
6 North America
6.1 North America Herbal Medicine Market Size (2015-2021)
6.2 Herbal Medicine Market Key Players in North America (2019-2021)
6.3 North America Herbal Medicine Market Size by Type (2015-2021)
6.4 North America Herbal Medicine Market Size by Application (2015-2021)
7 Europe
7.1 Europe Herbal Medicine Market Size (2015-2021)
7.2 Herbal Medicine Market Key Players in Europe (2019-2021)
7.3 Europe Herbal Medicine Market Size by Type (2015-2021)
7.4 Europe Herbal Medicine Market Size by Application (2015-2021)
8 China
8.1 China Herbal Medicine Market Size (2015-2021)
8.2 Herbal Medicine Market Key Players in China (2019-2021)
8.3 China Herbal Medicine Market Size by Type (2015-2021)
8.4 China Herbal Medicine Market Size by Application (2015-2021)
9 Japan
9.1 Japan Herbal Medicine Market Size (2015-2021)
9.2 Herbal Medicine Market Key Players in Japan (2019-2021)
9.3 Japan Herbal Medicine Market Size by Type (2015-2021)
9.4 Japan Herbal Medicine Market Size by Application (2015-2021)
10 Southeast Asia
10.1 Southeast Asia Herbal Medicine Market Size (2015-2021)
10.2 Herbal Medicine Market Key Players in Southeast Asia (2019-2021)
10.3 Southeast Asia Herbal Medicine Market Size by Type (2015-2021)
10.4 Southeast Asia Herbal Medicine Market Size by Application (2015-2021)
11 India
11.1 India Herbal Medicine Market Size (2015-2021)
11.2 Herbal Medicine Market Key Players in India (2019-2021)
11.3 India Herbal Medicine Market Size by Type (2015-2021)
11.4 India Herbal Medicine Market Size by Application (2015-2021)
12 Central & South America
12.1 Central & South America Herbal Medicine Market Size (2015-2021)
12.2 Herbal Medicine Market Key Players in Central & South America (2019-2021)
12.3 Central & South America Herbal Medicine Market Size by Type (2015-2021)
12.4 Central & South America Herbal Medicine Market Size by Application (2015-2021)
13 Key Players Profiles
13.1 Company Details
13.2 Business Overview and Its Total Revenue
13.3 Herbal Medicine Market Introduction
13.4 Herbal Medicine Market Business (2015-2021)
13.5 Recent Development
14 Analyst's Viewpoints/Conclusions
15 Appendix
15.1 Research Methodology
15.1.1 Methodology/Research Approach
15.1.2 Data Source
15.2 Disclaimer
15.3 Author Details
List of Table
Table 1. Herbal Medicine Market Key Market Segments
Table 2. Key Players Covered: Ranking by Herbal Medicine Market Revenue
Table 3. Ranking of Global Top Herbal Medicine Market Manufacturers by Revenue (US$ Million) in 2019
Table 4. Global Herbal Medicine Market Size Growth Rate by Type (US$ Million): 2021 VS 2027
Table 5. COVID-19 Impact Global Market
Table 6. Opportunities and Trends for Herbal Medicine Market Players in the COVID-19 Landscape
Table 7. Present Opportunities in China & Elsewhere Due to the Coronavirus Crisis
Table 8. Key Regions/Countries Measures against Covid-19 Impact
Table 9. Proposal for Herbal Medicine Market Players to Combat Covid-19 Impact
Table 10. Global Herbal Medicine Market Size Growth by Application (US$ Million): 2021 VS 2027
Table 11. Global Herbal Medicine Market Size by Regions (US$ Million): 2021 VS 2027
Table 12. Global Herbal Medicine Market Size by Regions (2015-2021) (US$ Million)
Table 13. Global Herbal Medicine Market Share by Regions (2015-2021)
Table 14. Global Herbal Medicine Market Forecasted Market Size by Regions (2021-2027) (US$ Million)
Table 15. Global Herbal Medicine Market Share by Regions (2021-2027)
Table 16. Market Top Trends
Table 17. Key Drivers: Impact Analysis
Table 18. Key Challenges
Table 19. Herbal Medicine Market Growth Strategy
Table 20. Main Points Interviewed from Key Herbal Medicine Market Players
Table 21. Global Herbal Medicine Market Revenue by Players (2015-2021) (Million US$)
Table 22. Global Herbal Medicine Market Share by Players (2015-2021)
Table 23. Global Top Herbal Medicine Market Players by Company Type (Tier 1, Tier 2 and Tier 3) (based on the Revenue in Herbal Medicine Market as of 2019)
Table 24. Global Herbal Medicine Market by Players Market Concentration Ratio (CR5 and HHI)
Table 25. Key Players Headquarters and Area Served
Table 26. Key Players Herbal Medicine Market Product Solution and Service
Table 27. Date of entering into Herbal Medicine Market
Table 28. Mergers & Acquisitions, Expansion Plans
Table 29. Global Herbal Medicine Market Size by Type (2015-2021) (Million US$)
Table 30. Global Herbal Medicine Market Size Share by Type (2015-2021)
Table 31. Global Herbal Medicine Market Revenue Market Share by Type (2021-2027)
Table 31. Global Herbal Medicine Market Size Share by Application (2015-2021)
Table 33. Global Herbal Medicine Market Size by Application (2015-2021) (Million US$)
Table 34. Global Herbal Medicine Market Size Share by Application (2021-2027)
Table 35. North America Key Players Herbal Medicine Market Revenue (2019-2021) (Million US$)
Table 36. North America Key Players Herbal Medicine Market Share (2019-2021)
Table 37. North America Herbal Medicine Market Size by Type (2015-2021) (Million US$)
Table 38. North America Herbal Medicine Market Share by Type (2015-2021)
Table 39. North America Herbal Medicine Market Size by Application (2015-2021) (Million US$)
Table 40. North America Herbal Medicine Market Share by Application (2015-2021)
Table 41. Europe Key Players Herbal Medicine Market Revenue (2019-2021) (Million US$)
Table 42. Europe Key Players Herbal Medicine Market Share (2019-2021)
Table 43. Europe Herbal Medicine Market Size by Type (2015-2021) (Million US$)
Table 44. Europe Herbal Medicine Market Share by Type (2015-2021)
Table 45. Europe Herbal Medicine Market Size by Application (2015-2021) (Million US$)
Table 46. Europe Herbal Medicine Market Share by Application (2015-2021)
Table 47. China Key Players Herbal Medicine Market Revenue (2019-2021) (Million US$)
Table 48. China Key Players Herbal Medicine Market Share (2019-2021)
Table 49. China Herbal Medicine Market Size by Type (2015-2021) (Million US$)
Table 50. China Herbal Medicine Market Share by Type (2015-2021)
Table 51. China Herbal Medicine Market Size by Application (2015-2021) (Million US$)
Table 52. China Herbal Medicine Market Share by Application (2015-2021)
Table 53. Japan Key Players Herbal Medicine Market Revenue (2019-2021) (Million US$)
Table 54. Japan Key Players Herbal Medicine Market Share (2019-2021)
Table 55. Japan Herbal Medicine Market Size by Type (2015-2021) (Million US$)
Table 56. Japan Herbal Medicine Market Share by Type (2015-2021)
Table 57. Japan Herbal Medicine Market Size by Application (2015-2021) (Million US$)
Table 58. Japan Herbal Medicine Market Share by Application (2015-2021)
Table 59. Southeast Asia Key Players Herbal Medicine Market Revenue (2019-2021) (Million US$)
Table 60. Southeast Asia Key Players Herbal Medicine Market Share (2019-2021)
Table 61. Southeast Asia Herbal Medicine Market Size by Type (2015-2021) (Million US$)
Table 62. Southeast Asia Herbal Medicine Market Share by Type (2015-2021)
Table 63. Southeast Asia Herbal Medicine Market Size by Application (2015-2021) (Million US$)
Table 64. Southeast Asia Herbal Medicine Market Share by Application (2015-2021)
Table 65. India Key Players Herbal Medicine Market Revenue (2019-2021) (Million US$)
Table 66. India Key Players Herbal Medicine Market Share (2019-2021)
Table 67. India Herbal Medicine Market Size by Type (2015-2021) (Million US$)
Table 68. India Herbal Medicine Market Share by Type (2015-2021)
Table 69. India Herbal Medicine Market Size by Application (2015-2021) (Million US$)
Table 70. India Herbal Medicine Market Share by Application (2015-2021)
Table 71. Central & South America Key Players Herbal Medicine Market Revenue (2019-2021) (Million US$)
Table 72. Central & South America Key Players Herbal Medicine Market Share (2019-2021)
Table 73. Central & South America Herbal Medicine Market Size by Type (2015-2021) (Million US$)
Table 74. Central & South America Herbal Medicine Market Share by Type (2015-2021)
Table 75. Central & South America Herbal Medicine Market Size by Application (2015-2021) (Million US$)
Table 76. Central & South America Herbal Medicine Market Share by Application (2015-2021)
Table 77. Company Details
Table 78. Business Overview
Table 79. Product details
Table 80. Revenue in Herbal Medicine Market Business (2015-2021) (Million US$)
Table 81. Recent Development
List of Figures
Figure 1. Global Herbal Medicine Market Share by Type: 2021 VS 2027
Figure 2. Global Herbal Medicine Market Share by Application: 2021 VS 2027
Figure 3. Emergency Care Case Studies
Figure 4. Outpatient Facilities Case Studies
Figure 5. Hospitals Case Studies
Figure 6. Home Healthcare Facilities Case Studies
Figure 7. Herbal Medicine Market Report Years Considered
Figure 8. Global Herbal Medicine Market Size YoY Growth 2015-2027 (US$ Million)
Figure 9. Global Herbal Medicine Market Share by Regions: 2021 VS 2027
Figure 10. Global Herbal Medicine Market Share by Regions (2021-2027)
Figure 11. Porter's Five Forces Analysis
Figure 12. Global Herbal Medicine Market Share by Players in 2019
Figure 13. Global Top Herbal Medicine Market Players by Company Type (Tier 1, Tier 2, and Tier 3) (based on the Revenue in Herbal Medicine Market as of 2019
Figure 14. The Top 10 and 5 Players Market Share by Herbal Medicine Market Revenue in 2019
Figure 15. North America Herbal Medicine Market Size YoY Growth (2015-2021) (Million US$)
Figure 16. Europe Herbal Medicine Market Size YoY Growth (2015-2021) (Million US$)
Figure 17. China Herbal Medicine Market Size YoY Growth (2015-2021) (Million US$)
Figure 18. Japan Herbal Medicine Market Size YoY Growth (2015-2021) (Million US$)
Figure 19. Southeast Asia Herbal Medicine Market Size YoY Growth (2015-2021) (Million US$)
Figure 20. India Herbal Medicine Market Size YoY Growth (2015-2021) (Million US$)
Figure 21. Central & South America Herbal Medicine Market Size YoY Growth (2015-2021) (Million US$)
Figure 22. Bottom-up and Top-down Approaches for This Report
Figure 23. Data Triangulation
Figure 24. Key Executives Interviewed
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