Global Herbal Medicinal Products Market Size, Trends, and Growth Opportunity, By Product Type (By Type (Herbal Tea, Healthcare Drink, Sports Drink, Others), Application (Normal Drinking, Functional Drinking , Other. By Region (North America, Europe, Asia Pacific, Latin America, Middle East) and Forecast till 2030.
Global Herbal Medicinal Products Market
The Global Herbal Medicinal Products Market was valued at USD 167.66 billion in 2022 and is expected to expand to USD 349.55 billion in 2030 at a CAGR of 9.53% during the forecast period 2023-2030.
Herbal medicinal products include substances obtained from plants and natural resources. Herbal medicines are available in the market in the form of tablets, capsules, powders, teas, and fresh and dried plants. These medicines have no negative or side effects on the body because they originated from nature. Herbal healthcare products are safe to use and can improve a person's health and organ function. Even herbal medical remedies can be damaging to the body if ingested incorrectly and in excess.
Market Drivers
The increasing demand for herbal ingredients in the cosmetic industry and to cure medical diseases like digestive problems, kidney disorders, and flu as they are cost-effective act as major factors for the growing market during the forecast period.
The rising awareness among people regarding the negative effects of allopathy medicines increases the demand for naturally prepared medicines and propels the growth of the market. Additionally, growing government initiatives and support towards herbal healthcare products have driven the growth of the market.
Market Restraints
The lack of awareness among people regarding herbal therapeutics hinders the growth of the market.
Furthermore, strict authorities' regulations related to the use of herbal medicines as raw materials in the cosmetic industry restrain the growth of the global herbal medicinal products market.
COVID-19 Impact on Herbal Medicinal Products Market
The outbreak of covid-19 significantly impacted the market to the rising demand for herbal medicinal products to improve immunity in covid-19 patients. As covid-19 is a novel disease and the lack of specific medications available to treat the disease increases people's focus on herbal supplements to improve body response to fight against disease by improving immunity driving the market during a pandemic.
Impact of Russia Ukraine War on the Market
The conflict between Russia and Ukraine can have both direct and indirect impacts on the herbal medicinal products market:
Disruptions in the supply chain: Many herbal medicinal product manufacturers source components from Russia and Ukraine. The war may cause supply chain disruptions and delays, affecting herbal medicinal products' production and delivery.
Economic sanctions: Economic sanctions imposed on Russia may have an impact on the overall economy, as well as the demand for herbal medicinal products in the region.
Market Segmentation
The Global Herbal Medicinal Products Market is segmented on the basis of Product Type, and Region. Based on Product Type, it is segmented into Herbal Tea, Healthcare Drink, Sports Drink, Others . Based on Application, it is segmented into Normal Drinking, Functional Drinking , Other. Based on Region, it is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Analysis
Europe is likely to dominate the market over the forecast period owing to the influence of large pharmaceutical and medical industries and rising government support in this region.
Asia Pacific is also anticipated to witness substantial growth because of the increasing research and development activities related to herbal medicinal products in this region.
Key Players
Various key players are listed in this report such as Moderna Inc, PERSONALIS INC, GENOCEA BIOSCIENCES INC, Cure Vac AG, CELLDEX THERAPEUTICS, BIONTECH SE (Rhineland-Palatinate), Advaxis Inc, Agenus Inc, Immatics Biotechnologies GmbH, Gritstone Oncology, NantKwest Inc, BioMérieux SA, Bayer AG, Pfizer Inc, GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd, Merck & Co Inc.
Market Taxonomy
By Product Type
• Homeopathic Medicines
• Ayurvedic Medicines
• Chinese Medicines
• Aromatherapy Products
By Source
• Barks
• Leaves
• Roots
• Fruits and Vegetables
• Others
By Application
• Food and Beverages
• Pharmaceuticals
• Personal Care
• Others
By Formulation Type
• Syrups
• Powder
• Capsules
• Tablets
• Oils
• Others
By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• Others
By Function
• General Wellness
• Cardiovascular Health
• Gut and Digestive Health
• Cognitive Health
• Others
By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Key Question Addressed by the Report
• What are the Key Opportunities in Global Herbal Medicinal Products Market?
• What will be the growth rate from 2023 to 2030?
• Which segment/region will have the highest growth?
• What are the factors that will impact/drive the Market?
• What is the role of key players in the value chain?
Global Herbal Medicinal Products Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Global Herbal Medicinal Products Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn
4.2.6 Post covid-19 world Supply& Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Global Herbal Medicinal Products Market, By Product Type
5.1 Y-o-Y Growth Comparison, By Product Type
5.2 Global Herbal Medicinal Products Market Share Analysis, By Product Type
5.3 Global Herbal Medicinal Products Market Size and Forecast, By Product Type
5.3.1 Homeopathic Medicines
5.3.2 Ayurvedic Medicines
5.3.3 Chinese Medicines
5.3.4 Aromatherapy Products
6 Global Herbal Medicinal Products Market, By Source
6.1 Y-o-Y Growth Comparison, By Source
6.2 Global Herbal Medicinal Products Market Share Analysis, By Source
6.3 Global Herbal Medicinal Products Market Size and Forecast, By Source
6.3.1 Barks
6.3.2 Leaves
6.3.3 Roots
6.3.4 Fruits and Vegetables
6.3.5 Antihistamines
7 Global Herbal Medicinal Products Market, By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Global Herbal Medicinal Products Market Share Analysis, By Application
7.3 Global Herbal Medicinal Products Market Size and Forecast, By Application
7.3.1 Food and Beverages
7.3.2 Pharmaceuticals
7.3.3 Personal Care
7.3.4 Others
8 Global Herbal Medicinal Products Market, By Formulation Type
8.1 Y-o-Y Growth Comparison, By Formulation Type
8.2 Global Herbal Medicinal Products Market Share Analysis, By Formulation Type
8.3 Global Herbal Medicinal Products Market Size and Forecast, By Formulation Type
8.3.1 Syrups
8.3.2 Powder
8.3.3 Capsules
8.3.4 Tablets
8.3.5 Oils
8.3.6 Others
9 Global Herbal Medicinal Products Market, By Function
9.1 Y-o-Y Growth Comparison, By Function
9.2 Global Herbal Medicinal Products Market Share Analysis, By Function
9.3 Global Herbal Medicinal Products Market Size and Forecast, By Function
9.3.1 General Wellness
9.3.2 Cardiovascular Health
9.3.3 Gut and Digestive Health
9.3.4 Cognitive Health
9.3.5 Others
10 Global Herbal Medicinal Products Market, By Distribution Channel
10.1 Y-o-Y Growth Comparison, By Distribution Channel
10.2 Global Herbal Medicinal Products Market Share Analysis, By Distribution Channel
10.3 Global Herbal Medicinal Products Market Size and Forecast, By Distribution Channel
10.3.1 Hospital Pharmacies
10.3.2 Retail Pharmacies
10.3.3 Online Pharmacies
10.3.4 Others
11 Global Herbal Medicinal Products Market, By Region
11.1 Global Herbal Medicinal Products Market Share Analysis, By Region
11.2 Global Herbal Medicinal Products Market Size and Forecast, By Region
12 North America Herbal Medicinal Products Analysis and Forecast (2023-2030)
12.1 Introduction
12.2 North America Herbal Medicinal Products Market Share Analysis, By Product Type
12.3 North America Herbal Medicinal Products Size and Forecast, By Source
12.4 North America Herbal Medicinal Products Market Size and Forecast, By Application
12.5 North America Herbal Medicinal Products Market Size and Forecast, By Formulation Type
12.6 North America Herbal Medicinal Products Market Size and Forecast, By Function
12.7 North America Herbal Medicinal Products Market Size and Forecast, By Distribution Channel
12.8 North America Herbal Medicinal Products Market Size and Forecast, By Country
12.8.1 U.S
12.8.2 Canada
12.8.3 Mexico
13 Europe Herbal Medicinal Products Market Analysis and Forecast (2023-2030)
13.1 Introduction
13.2 Europe Herbal Medicinal Products Market Share Analysis, By Product Type
13.3 Europe Herbal Medicinal Products Market Size and Forecast, By Source
13.4 Europe Herbal Medicinal Products Market Size and Forecast, By Application
13.5 Europe Herbal Medicinal Products Market Size and Forecast, By Formulation Type
13.6 Europe Herbal Medicinal Products Market Size and Forecast, By Function
13.7 Europe Herbal Medicinal Products Market Size and Forecast, By Distribution Channel
13.8 Europe Herbal Medicinal Products Market Size and Forecast, By Country
13.8.1 Germany
13.8.2 France
13.8.3 UK
13.8.4 Rest of Europe
14 Asia Pacific Herbal Medicinal Products Market Analysis and Forecast (2023-2030)
14.1 Introduction
14.2 Asia-Pacific Herbal Medicinal Products Market Size and Forecast, By Product Type
14.3 Asia-Pacific Herbal Medicinal Products Market Size and Forecast, By Source
14.4 Asia-Pacific Herbal Medicinal Products Market Size and Forecast, By Application
14.5 Asia-Pacific Herbal Medicinal Products Market Size and Forecast, By Formulation Type
14.6 Asia-Pacific Herbal Medicinal Products Market Size and Forecast, By Function
14.7 Asia-Pacific Herbal Medicinal Products Market Size and Forecast, By Distribution Channel
14.8 Asia-Pacific Herbal Medicinal Products Market Size and Forecast, By Country
14.8.1 China
14.8.2 Japan
14.8.3 India
14.8.4. Rest of Asia Pacific
15 Latin America Herbal Medicinal Products Market Analysis and Forecast (2023-2030)
15.1 Introduction
15.2 Latin America Herbal Medicinal Products Market Size and Forecast, By Product Type
15.3 Latin America Herbal Medicinal Products Market Size and Forecast, By Source
15.4 Latin America Herbal Medicinal Products Market Size and Forecast, By Application
15.5 Latin America Herbal Medicinal Products Market Size and Forecast, By Formulation Type
15.6 Latin America Herbal Medicinal Products Market Size and Forecast, By Function
15.7 Latin America Herbal Medicinal Products Market Size and Forecast, By Distribution Channel
15.8 Latin America Herbal Medicinal Products Market Size and Forecast, By Country
15.8.1 Brazil
15.8.2 Rest of Latin America
16 Middle East Herbal Medicinal Products Market Analysis and Forecast (2023-2030)
16.1 Introduction
16.2 Middle East Herbal Medicinal Products Market Share Analysis, By Product Type
16.3 Middle East Herbal Medicinal Products Market Size and Forecast, By Source
16.4 Middle East Herbal Medicinal Products Market Size and Forecast, By Application
16.5 Middle East Herbal Medicinal Products Market Size and Forecast, By Formulation Type
16.6 Middle East Herbal Medicinal Products Market Size and Forecast, By Function
16.7 Middle East Herbal Medicinal Products Market Size and Forecast, By Distribution Channel
16.8 Middle East Herbal Medicinal Products Market Size and Forecast, By Country
16.8.1. Saudi Arabia
16.8.2. UAE
16.8.3. Egypt
16.8.4. Kuwait
16.8.5. South Africa
16 Competitive Analysis
16.1 Competition Dashboard
16.2 Market share Analysis of Top Vendors
16.3 Key Development Strategies
17 Company Profiles
17.1. Moderna Inc
17.1.1 Overview
17.1.2 Offerings
17.1.3 Key Financials
17.1.4 Business Segment & Geographic Overview
16.1.5 Key Market Developments
17.1.6 Key Strategies
17.2. PERSONALIS INC
17.2.1 Overview
17.2.2 Offerings
17.2.3 Key Financials
17.2.4 Business Segment & Geographic Overview
17.2.5 Key Market Developments
17.2.6 Key Strategies
17.3. GENOCEA BIOSCIENCES INC
17.3.1 Overview
17.3.2 Offerings
17.3.3 Key Financials
17.3.4 Business Segment & Geographic Overview
17.3.5 Key Market Developments
17.3.6 Key Strategies
17.4. Cure Vac AG
17.4.1 Overview
17.4.2 Offerings
16.4.3 Key Financials
16.4.4 Business Segment & Geographic Overview
16.4.5 Key Market Developments
17.4.6 Key Strategies
17.5. CELLDEX THERAPEUTICS
17.5.1 Overview
17.5.2 Offerings
17.5.3 Key Financials
17.5.4 Business Segment & Geographic Overview
16.5.5 Key Market Developments
17.5.6 Key Strategies
17.6. BIONTECH SE (Rhineland-Palatinate)
17.6.1 Overview
17.6.2 Offerings
17.6.3 Key Financials
17.6.4 Business Segment & Geographic Overview
16.6.5 Key Market Developments
17.6.6 Key Strategies
17.7. Advaxis Inc
17.7.1 Overview
17.7.2 Offerings
17.7.3 Key Financials
17.7.4 Business Segment & Geographic Overview
16.7.5 Key Market Developments
17.7.6 Key Strategies
17.8. Agenus Inc
17.8.1 Overview
17.8.2 Offerings
17.8.3 Key Financials
17.8.4 Business Segment & Geographic Overview
16.8.5 Key Market Developments
17.8.6 Key Strategies
17.9. Immatics Biotechnologies GmbH
17.9.1 Overview
17.9.2 Offerings
17.9.3 Key Financials
17.9.4 Business Segment & Geographic Overview
17.9.5Key Market Developments
17.9.6 Key Strategies
17.10. Gritstone Oncology
17.10.1 Overview
17.10.2 Offerings
17.10.3 Key Financials
17.10.4 Business Segment & Geographic Overview
16.10.5 Key Market Developments
17.10.6 Key Strategies
17.11. NantKwest Inc
17.11.1 Overview
17.11.2 Offerings
17.11.3 Key Financials
17.11.4 Business Segment & Geographic Overview
16.11.5 Key Market Developments
16.11.6 Key Strategies
17.12. BioMérieux SA
17.12.1 Overview
17.12.2 Offerings
17.12.3 Key Financials
17.12.4 Business Segment & Geographic Overview
17.12.5 Key Market Developments
17.6.6 Key Strategies
17.13. Bayer AG
17.13.1 Overview
17.13.2 Offerings
17.13.3 Key Financials
17.13.4 Business Segment & Geographic Overview
16.13.5 Key Market Developments
17.13.6 Key Strategies
17.14. Pfizer Inc
17.14.1 Overview
17.14.2 Offerings
17.14.3 Key Financials
17.14.4 Business Segment & Geographic Overview
16.14.5 Key Market Developments
17.14.6 Key Strategies
17.15. GlaxoSmithKline plc
17.15.1 Overview
17.15.2 Offerings
17.15.3 Key Financials
17.15.4 Business Segment & Geographic Overview
17.15.5 Key Market Developments
17.15.6 Key Strategies
17.16. F. Hoffmann-La Roche Ltd
17.16.1 Overview
17.16.2 Offerings
17.16.3 Key Financials
17.16.4 Business Segment & Geographic Overview
17.16.5 Key Market Developments
17.16.6 Key Strategies
17.17. Merck & Co Inc
17.17.1 Overview
17.17.2 Offerings
17.17.3 Key Financials
17.17.4 Business Segment & Geographic Overview
17.17.5 Key Market Developments
17.17.6 Key Strategies
