Herbal Medicine Market Size Worth USD 550.75 Billion by 2034 | CAGR: 20.6%

The herbal medicine market size is expected to reach USD 550.75 billion by 2034, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Herbal medicine is plant plant-based supplement that is beneficial for the treatment of various diseases. These medicines are chemical-free and have no side effects. They are highly beneficial for various diseases such as asthma, heart disease, cancer, immune system disorders, and others. During the COVID-19 pandemic, the use of herbal and traditional medicines experienced an upsurge, resulting in positive growth in the herbal medicine market.

The shift in individuals' lifestyles has significantly altered consumer food habits, leading to a decrease in essential nutrition in their diets. The rise in fast food consumption has contributed to various health issues, including obesity and overweight, which have heightened the demand for organic and herbal dietary supplements. Various herbal supplements, such as nutritional protein powders, plant-based drinks, and extracts from ginger, turmeric, and other herbs, are beneficial for weight reduction, significantly driving market growth.

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Modernization trends are raising awareness about personal appearance, driving demand for cosmetics and personal care products. There is a noticeable shift from chemical-based beauty and personal care products towards organic and herbal alternatives. The development of herbal soaps, face washes, shampoos, and other products is beneficial for addressing skin and hair issues. Moreover, herbal supplements like skin whitening tablets and herbal powders such as neem and rosemary powder are significantly contributing to market revenue growth.

Herbal Medicine Market Report Highlights

• By form analysis, the tablets and capsules segment is expected to dominate the herbal medicine market due to its versatile and easy consumption nature.
• By distribution channel analysis, the e-commerce segment is expected to dominate the herbal medicine market due to the increasing adoption of the Internet across urban and rural areas. Moreover, technological advancements have improved logistics and supply chains, driving e-commerce platforms' growth.
• Europe dominated the herbal medicine market due to favorable government drug policies that enhanced standardized manufacturing practices.
• The key market players are 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; and Dabur.

Polaris Market Research has segmented the herbal medicine market report based on category, form, source, distribution channel, application, intervention, and region:

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
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Australia
• Rest of Asia Pacific

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of the Middle East & Africa

Herbal Medicine Report Scope