Herbal Medicine Market Size, Share, Trends, Industry Analysis Report: By Category, Form, Source, Distribution Channel (E-commerce and Hospitals & Retail Pharmacies), Application, Intervention, and Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) – Market Forecast, 2025–2034
- Published Date:Nov-2024
- Pages: 120
- Format: PDF
- Report ID: PM1671
- Base Year: 2024
- Historical Data: 2020-2023
Herbal Medicine Market Overview
The herbal medicine market size was valued at USD 84.80 billion in 2024. The market is projected to grow from USD 102.13 billion in 2025 to USD 550.75 billion by 2034, exhibiting a CAGR of 20.6% from 2025 to 2034.
Herbal medicine, often referred to as botanical medicine or phytomedicine, is a dietary supplement extracted from a plant’s seeds, roots, leaves, bark, and others. They are chemical-free, which minimizes side effects and makes them suitable for human health. In addition, herbal medicine possesses antioxidant and anti-inflammatory properties that mitigate the risk of health-related issues, thus boosting the demand for herbal products in the market.
The rising prevalence of diseases such as asthma, diabetes, heart disease, and cancer, largely due to changing dietary habits, is also a significant factor contributing to market expansion.
To Understand More About this Research: Request a Free Sample Report
The COVID-19 pandemic has significantly influenced the growth of the herbal medicine market, as more people have embraced traditional natural practices that encourage the use of herbal products. Many individuals turned to home remedies to reduce the risk of COVID-19. This increases the demand for herbal medicine and leads to an increase in market revenue.
Herbal Medicine Market Trends and Drivers Analysis
Shift Towards Herbal Dietary Supplements
The growing consumption of herbal dietary supplements, driven by their health benefits, is significantly boosting market growth. Changing food habits are leading to negative health impacts, with rising obesity and heart disease increasing the demand for natural and organic products, thereby enhancing market revenue. Additionally, greater awareness of personal health and well-being is motivating individuals to incorporate herbal dietary supplements into their daily routines. Popular products such as herbal tea, protein powders, plant-based drinks, and medicinal herbs are widely consumed for various health issues, including weight loss, back and knee pain, cancer treatment, immune support, and gastrointestinal disorders.
Overweight and obesity are significant health concerns. Herbal food supplements such as cinnamon, fenugreek, ginger, and turmeric are recognized for their weight loss benefits, driving demand for herbal dietary products. According to the World Obesity Federation, 51% of the global population faces issues related to obesity and being overweight. Consequently, the rise in overweight health conditions is fueling growth in the herbal medicine market.
Adoption of Organic Supplements in Cosmetic Products
The shift toward modernization has significantly impacted the cosmetic industry, with personal appearance becoming a key driver for market growth. Essential grooming products, such as face washes, body soaps, hair care, and skincare items, contribute to increasing market revenue. Additionally, concerns over the side effects of chemical-based cosmetics have led to a rising demand for organic products. Herbal ingredients like turmeric, neem, and rosemary are gaining popularity for their proven benefits for skin and hair.
Women, in particular, are increasingly opting for organic and herbal cosmetics to enhance their beauty and maintain personal hygiene. The consumption of herbal remedies for improving skin tone and reducing wrinkles is further boosting the cosmetic market. For instance, Simply Herbal, an Indian manufacturer, has introduced Glutathione Skin Whitening Capsules, reflecting the growing trend in herbal cosmetics.
Herbal Medicine Market Segment Analysis
Herbal Medicine Market Assessment by Form
The herbal medicine market segmentation, based on form, includes powders, extracts, tablets & capsules, syrups, and others. The tablets & capsules segment is expected to dominate the market due to ease of consumption and portability that caters to the busy lifestyle of individuals. Tablets & capsules are versatile forms of herbal medicine that are soluble in water like other herbal powder forms. Moreover, they contain dried powder of the extracts, which increases their shelf life. Further, the precise dose and detailed prescriptions mentioned on tablets & capsules in a key factor driving the segment growth.
Herbal Medicine Market Evaluation by Distribution Channel
The herbal medicine market segmentation, based on distribution channels, includes e-commerce and hospitals & retail pharmacies. The e-commerce segment is expected to dominate the market due to the growing use of the internet and advancement in technology. The expansion of internet facilities across rural and small-town areas is significantly raising awareness about online selling and buying, which is fostering the growth of e-commerce platforms. Improved supply chain and logistics also ensure timely delivery of products, thereby fueling the demand for online purchases and driving the herbal medicine market growth.
Herbal Medicine Market Breakdown by Regional Insights
By region, the study provides market insights into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Europe herbal medicine market dominated the global market in 2024, owing to favorable European drug regulation policies that facilitate the manufacturing and distribution of herbal and natural remedies. In addition, the presence of major companies such as Zein Pharma and others offering their services further strengthens the market landscape in North America. The key market players are merging, acquiring, and collaborating to strengthen their market presence and to serve better offerings in North America, further driving the market during the forecast period.
In Asia Pacific, the market is expected to register the fastest CAGR during the forecast period. This growth is fueled by a long history of traditional health practices that position it as a hub for herbal medicine. The increasing adoption of traditional medicinal practices is propelling market growth alongside a rise in manufacturers in the region. Countries like Japan, Korea, India, and China continue to embrace traditional therapies that are beneficial for health, further driving demand. Additionally, the Indian government has implemented various policies and initiatives, such as those by the Central Drugs Standard Control Organization (CDSCO), to promote the importance of herbal medicines, significantly boosting the herbal medicine market growth.
Herbal Medicine Market – Key Players & Competitive Analysis Report
Major market players are investing heavily in research and development in order to expand their product lines, which will help the herbal medicine market grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market environment, the herbal medicine market must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the herbal medicine market to benefit clients and increase the market sector. In recent years, the market has offered some technological advancements. Major players in the herbal medicine market include Arizona Natural, Arkopharma, Bayer AG, Beovita, Blackmores Ltd., Brightseed Bio, Patanjali Ayurved Ltd., Dasherb Corp, Dr. Willmar Schwable India Pvt. Ltd, Herbal Life, Himalaya Global Holdings Ltd., Hishimo Pharmaceuticals, Schaper & Brummer, Simply Herbal, Venus Pharma GmbH, and Zein Pharma.
Arizona Natural, established in 1979 and headquartered in the United States, is a contract manufacturer of herbal and health wellness products. The company product range includes EDTA - EDTA chelation therapy capsules, Allicin Rich Oderless Garlic & supplements, and others. In addition, the company has various services that include product development, raw material sourcing, custom formulation, packaging, and others. The products are used in applications such as dietary supplements, skincare, pet care, nutraceuticals, and others.
ZeinPharma, founded in 1999 and headquartered in Germany, is a manufacturer of nutritional supplements. The company product range includes propionic acid capsules, acetyl L- L-carnitine capsules, alpha–lipoic acid capsules, ashwagandha extract capsules, and others. The various applications of these capsules include the immune system, heart, circulation & vessel disease, bladder live & kidney health, and others. Also, the company has recently added new products, including Melatonin Capsule and Magtein Magnesium L- Threonate 500 mg capsules, to its product offerings.
List of Key Companies in the Herbal Medicine Market
- Arkopharma
- Brightseed Bio
- Patanjali Ayurved Ltd.
- Dasherb Corp
- Dr. Willmar Schwable India Pvt. Ltd
- Herbal Life
- Himalaya Global Holdings Ltd.
- Hishimo Pharmaceuticals
- Schaper & Brummer
- Simply Herbal
- Venus Pharma GmbH
- Zein Pharma
- AYUSH Ayurvedic Pte Ltd.
- Bayer AG
- ZeinPharma Germany GmbH
- Arizona Natural Products
- Willmar Schwabe India Pvt. Ltd
- BEOVITA
- Dabur
Herbal Medicine Market Developments
June 2024: Brightseed partnered with Ocean Spray Cranberries Inc. to discover multiple bioactives with the help of Forager AI.
May 2024: Brightseed introduced Rapid Profiling and the company’s newly expanded Microbiome capabilities to its partners for product development.
April 2021: Medice completed the acquisition of Schaper & Brummer. Medice announced that Schaper & Brummer will continue to operate as an individual company.
Herbal Medicine Market Segmentation
By Category Outlook (Revenue – USD Billion, 2020–2034)
- Herbal Functional Foods
- Herbal Dietary Supplements
- Herbal Pharmaceuticals
- Herbal Beauty Products
By Form Outlook (Revenue – USD Billion, 2020–2034)
- Powders
- Tablets & Capsules
- Syrups
- Extracts
- Others
By Source Outlook (Revenue – USD Billion, 2020–2034)
- Roots and Barks
- Fruits
- Leaves
- Whole Plants
- Others
By Distribution Channel Outlook (Revenue – USD Billion, 2020–2034)
- E-commerce
- Hospitals & Retail Pharmacies
By Application Outlook (Revenue – USD Billion, 2020–2034)
- Pharmaceutical & Nutraceutical
- Food & Beverages
- Personal Care & Beauty Products
By Intervention Outlook (Revenue – USD Billion, 2020–2034)
- Apitherapy
- Ayurveda
- Bach Flower Therapy
- Traditional Korean Medicine
- Traditional Chinese Medicine
- Traditional Mongolian Medicine
- Traditional Tibetan Medicine
- Traditional Japanese Medicine
- Naturopathic Medicine
- Zang Fu Theory
By Regional Outlook (Revenue – USD Billion, 2020–2034)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Malaysia
- South Korea
- Indonesia
- Australia
- Vietnam
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
Herbal Medicine Report Scope
|
Report Attributes |
Details |
|
Market Size Value in 2024 |
USD 84.80 billion |
|
Market Size Value in 2025 |
USD 102.13 billion |
|
Revenue Forecast in 2034 |
USD 550.75 billion |
|
CAGR |
20.6% from 2025 to 2034 |
|
Base Year |
2024 |
|
Historical Data |
2020–2023 |
|
Forecast Period |
2025–2034 |
|
Quantitative Units |
Revenue in USD billion and CAGR from 2025 to 2034 |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
|
|
Regional Scope |
|
|
Competitive Landscape |
|
|
Report Format |
PDF + Excel |
|
Customization |
Report customization as per your requirements with respect to countries, regions, and segmentation. |
FAQ's
The herbal medicine market size was valued at USD 84.80 billion in 2024 and is forecasted to grow at USD 550.75 billion in 2034.
The market is projected to grow at a CAGR of 20.6% from 2025 to 2034.
Europe is projected to account for the largest share of the market.
The key players in the market are Arizona Natural, Arkopharma, Bayer AG, Beovita, Blackmores Ltd., Brightseed Bio, Patanjali Ayurved Ltd., Dasherb Corp, Dr. Willmar Schwable India Pvt. Ltd, Herbal Life, Himalaya Global Holdings Ltd., Hishimo Pharmaceuticals, Schaper & Brummer, Simply Herbal, Venus Pharma GmbH, and Zein Pharma.
The tablets & capsules segment is anticipated to dominate the market.
The e-commerce segment is anticipated to account for the largest market share
© 2024 Polaris Market Research and Consulting. All rights reserved
