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Herbal Medicine Market by Product, Distribution Channel and Geography - Forecast and Analysis 2023-2027

  • Published: Nov 2022
  • Pages: 158
  • SKU: IRTNTR71733
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The herbal medicine market is estimated to grow at a CAGR of 5.96% between 2022 and 2027. The size of the market is forecast to increase by USD 36,636.05 million. The growth of the market depends on serval factors, including the demand for immune-boosting supplements and medicines with low side effects, and medicines that promote natural healing.

This report extensively covers market segmentation by product (capsules and tablets, powders, extracts, syrups, and others), distribution channel (hospitals, retail pharmacies, and e-commerce), and geography (Asia, North America, Europe, and the Rest of the World (ROW)) and geography US, Germany, UK, China, Japan, and India. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

 What will the Size of the Herbal Medicine Market be During the Forecast Period?

Herbal Medicine Market Size

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Parent Market Analysis

Technavio categorizes the global herbal medicine market as a part of the global pharmaceuticals market within the overall healthcare industry. The parent global pharmaceuticals market covers products and companies engaged in the R and D or production of generic drugs, non-generic drugs, and veterinary drugs. Technavio calculates the global healthcare market size based on the combined revenue generated by manufacturers/providers of equipment, supplies, pharmaceuticals, biotechnology, and life sciences tools and services. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.

Herbal Medicine Market: Key Drivers, Trends, Challenges, and Customer Landscape

The demand for immune-boosting supplements is notably driving the market growth, although factors such as inadequate knowledge may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Herbal Medicine Market Driver 

The demand for immune-boosting supplements is the key factor driving the global herbal medicine market growth. According to Mark Frost, MSTCM, L.Ac., Herbal Medicine Department Chair at the American College of Traditional Chinese Medicine, many herbs are hostile to pathogens, which means they actively combat germs, including viruses, bacteria, worms, and bugs. Herbs offer immune-boosting properties, according to specialists in traditional Chinese medicine. Those who practice Western medicine also support using herbs to promote a balanced diet.

These types of medicinal plants are referred to as Gifted Gods for their ability to cure, assist, and rehabilitate. Despite the lack of evidence, several studies are being conducted on herbal plants that have the capacity to improve the immune system and cope with COVID-19. To hasten the process, some phyto-compounds are being identified to characterize plants to decrease the occurrence of illness. For instance, herbs commonly used in Ayurveda, Unani, Siddhi, Homeopathy, Romanian, Persian, and Chinese traditional medicines are now used to test the potency of the SARS-CoV-2 virus.

Key Herbal Medicine Market Trend

The inclination toward herbal and natural products will fuel the global herbal medicine market growth. Many youth and people nearing retirement age are inclined toward natural products like herbal medicines and health supplements. This has triggered a shift in healthcare spending, with many older people opting for herbal medicines to stay active.

The COVID-19 pandemic, which spread globally, has driven the growth of the global herbal medicine market. Due to the lockdown restrictions, most people were unable to visit fitness centers such as gyms and sports clubs to boost their immunity and fitness. Therefore, the demand for herbal medicines increased owing to the growing focus on building immunity against COVID-19. During the lockdowns, vendors actively promoted online sales, especially through brand-owned e-commerce portals, and offered discounts on prominent herbal medicines. Such factors are expected to drive the growth of the global herbal medicine market during the forecast period.  

Key Herbal Medicine Market Challenge

Inadequate knowledge about the usage of herbal medicines is a major challenge to the global herbal medicine market growth. Over the last three decades, the use of herbal medical items has skyrocketed, with more than 80% of people globally depending on them for some aspect of basic healthcare. Although therapies employing these compounds have demonstrated significant promise, with the efficacy of a large number of herbal medications clearly proven, many of them remain untested, and their usage is either poorly controlled or not checked at all.

Moreover, there is insufficient understanding of their method of action, potential adverse responses, contraindications, and combinations with currently available conventional medications and functional foods to encourage the safe and reasonable use of these agents. Safety remains a key concern with the use of herbal treatments, and therefore, relevant regulatory bodies must implement adequate measures to protect public health by ensuring that all herbal medications are safe and of appropriate quality.

Key Herbal Medicine Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Herbal Medicine Market Share by Geography

Global Herbal Medicine Market Customer Landscape

Who are the Major Herbal Medicine Market Vendors?                                     

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

bio-botanica.com - The company offers herbal medicine such as organic wild cherry bark in glycerin. Also, the company offers a wide range of products such as personal care, food and beverage, and specialty products derived from natural sources.

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

  • Arizona Natural Products
  • Arkopharma Laboratories
  • Beijing Tongrentang Co Ltd.
  • Blackmores Ltd.
  • Charak Pharma Pvt. Ltd.
  • Dabur India Ltd.
  • Dasherb Corp.
  • Dr. Willmar Schwabe GmbH & Co. KG
  • Emami Ltd.
  • Hamdard Laboratories
  • Himalaya Global Holdings Ltd.
  • Hishimo Pharmaceuticals Pvt. Ltd.
  • Imperial Ginseng Products Ltd.
  • Ricola Group AG
  • Schaper & Brummer GmbH & Co. KG

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

What is the Fastest-Growing Segment in the Herbal Medicine Market?

The market share growth by the capsules and tablets segment will be significant during the forecast period. Most drugs, including herbal medicines, are commonly consumed in the form of tablets or capsules. These medicines are created by compressing powdered active pharmaceutical ingredients and substances into a hard, solid, smooth-coated tablet that dissolves in the digestive tract. Most tablets contain additives that keep them together and improve taste, texture, and appearance, along with active components. In capsules, the active pharmaceutical substances inside are protected by an outer shell. 

Herbal Medicine Market Size

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The capsules and tablets segment showed a gradual increase in the market share of USD 32,583.25 million in 2017 and continued to grow by 2021. In this segment, tablets are low-cost, safe, and effective oral medicines that are available in round, oblong, and disc shapes. Caplets, which are oblong pills, can be easier to swallow. Some have a line scored across the centre, making it simpler to divide the tablet in two. Similarly, the outer shell of capsules is broken down in the digestive tract, and the active pharmaceutical ingredients are absorbed into the body, where it is distributed and processed similarly to medication taken via a tablet. The above factors will spur the growth of the segment during the forecast period.

Which are the Key Regions for Herbal Medicine Market?

Herbal Medicine Market Share by Geography

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Asia is projected to contribute 42% of market growth by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

In Asia, the herbal medicine market has witnessed significant growth in recent years owing to various factors, such as rising consumer awareness of the side effects of allopathic medicines and growing awareness about the medicinal benefits and therapeutic effects of herbal products. This has led to the increased demand for ayurvedic products such as extracts, dietary supplements, and personal care products in the region. 

This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to a surge in the demand for herbal medicines in Asia. In 2020, the COVID-19 pandemic negatively impacted business operations. Governments of various countries in the region, such as China and India, imposed stringent COVID-19-related restrictions, such as nationwide lockdowns and stay-at-home regulations, which resulted in supply chain disruptions due to the shortage of labor and raw materials. This affected the growth of the market negatively. However, in Q2 2020, the demand for ayurvedic products, such as medicinal supplements, personal care, and food and beverages, rebounded as retail outlets such as grocery stores, convenience stores, hypermarkets, and supermarkets reopened in the region. Consumers in the region have been taking their health more seriously owing to the pandemic. There is an inclination for healthier food and beverage options due to increased consumer awareness and the adoption of healthier lifestyles. The consumption of immunity-building, healthy food products such as herbal supplements has increased in recent years in the region. Hence, the market is expected to grow during the forecast period. 

Segment Overview

The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by product, distribution channel, and region.

  • Product Outlook (USD Million, 2017 - 2027)
    • Capsules and tablets
    • Powders
    • Extracts
    • Syrups
    • Others
  • Distribution Channel Outlook (USD Million, 2017 - 2027)
    • Hospitals
    • Retail pharmacies
    • E-commerce
  • Region Outlook (USD Million, 2017 - 2027)
    • North America
      • The U.S.
      • Canada
    • Europe
      • The U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia
      • China
      • India
    • ROW
      • Argentina
      • Australia
      • Rest of the world

Herbal Medicine Market Scope

Report Coverage

Details

Page number

158

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.96%

Market growth 2023-2027

USD 36,636.05 million

Market structure

Fragmented

YoY growth (%)

5.6

Regional analysis

Asia, North America, Europe, and the Rest of the World (ROW)

Performing market contribution

Asia at 42%

Key countries

US, Germany, UK, China, Japan, and India

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Arizona Natural Products, Arkopharma Laboratories, Beijing Tongrentang Co Ltd., Bio Botanica Inc., Blackmores Ltd., Charak Pharma Pvt. Ltd., Dabur India Ltd., Dasherb Corp., Dr. Willmar Schwabe GmbH & Co. KG, Emami Ltd., Hamdard Laboratories, Himalaya Global Holdings Ltd., Hishimo Pharmaceuticals Pvt. Ltd., Imperial Ginseng Products Ltd., Ricola Group AG, Schaper &Brummer GmbH & Co. KG, Sido Muncul, TSUMURA and Co., Weleda Group, and ZeinPharma Germany GmbH

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

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What are the Key Data Covered in this Herbal Medicine Market Report?

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will drive the growth of the herbal medicine market between 2023 and 2027
  • Precise estimation of the size of the herbal medicine market and its contribution to the parent market.
  • Accurate predictions about  upcoming trends and changes in consumer behavior
  • Growth of the herbal medicine market industry across Asia, North America, Europe, and the Rest of the World (ROW)
  • A thorough analysis of the market’s competitive landscape and detailed information about vendors
  • Comprehensive details of factors that will challenge the growth of herbal medicine market vendors

 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
    • Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
    • Exhibit 07: Executive Summary – Chart on Incremental Growth
    • Exhibit 08: Executive Summary – Data Table on Incremental Growth
    • Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 10: Parent market
    • Exhibit 11: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 12: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 13: Market segments
  • 3.3 Market size 2022
    • 3.4 Market outlook: Forecast for 2022-2027
      • Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
      • Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
      • Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

    4 Historic Market Size

    • 4.1 Global herbal medicine market 2017 - 2021
      • Exhibit 18: Historic Market Size – Data Table on Global herbal medicine market 2017 - 2021 ($ million)
    • 4.2 Product Segment Analysis 2017 - 2021
      • Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ million)
    • 4.3 Distribution Channel Segment Analysis 2017 - 2021
      • Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ million)
    • 4.4 Geography Segment Analysis 2017 - 2021
      • Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
    • 4.5 Country Segment Analysis 2017 - 2021
      • Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

    5 Five Forces Analysis

    • 5.1 Five forces summary
      • Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
    • 5.2 Bargaining power of buyers
      • Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
    • 5.3 Bargaining power of suppliers
      • Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
    • 5.4 Threat of new entrants
      • Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
    • 5.5 Threat of substitutes
      • Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
    • 5.6 Threat of rivalry
      • Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
    • 5.7 Market condition
      • Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

    6 Market Segmentation by Product

    • 6.1 Market segments
      • Exhibit 30: Chart on Product - Market share 2022-2027 (%)
      • Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
    • 6.2 Comparison by Product
      • Exhibit 32: Chart on Comparison by Product
      • Exhibit 33: Data Table on Comparison by Product
    • 6.3 Capsules and tablets - Market size and forecast 2022-2027
      • Exhibit 34: Chart on Capsules and tablets - Market size and forecast 2022-2027 ($ million)
      • Exhibit 35: Data Table on Capsules and tablets - Market size and forecast 2022-2027 ($ million)
      • Exhibit 36: Chart on Capsules and tablets - Year-over-year growth 2022-2027 (%)
      • Exhibit 37: Data Table on Capsules and tablets - Year-over-year growth 2022-2027 (%)
    • 6.4 Powders - Market size and forecast 2022-2027
      • Exhibit 38: Chart on Powders - Market size and forecast 2022-2027 ($ million)
      • Exhibit 39: Data Table on Powders - Market size and forecast 2022-2027 ($ million)
      • Exhibit 40: Chart on Powders - Year-over-year growth 2022-2027 (%)
      • Exhibit 41: Data Table on Powders - Year-over-year growth 2022-2027 (%)
    • 6.5 Extracts - Market size and forecast 2022-2027
      • Exhibit 42: Chart on Extracts - Market size and forecast 2022-2027 ($ million)
      • Exhibit 43: Data Table on Extracts - Market size and forecast 2022-2027 ($ million)
      • Exhibit 44: Chart on Extracts - Year-over-year growth 2022-2027 (%)
      • Exhibit 45: Data Table on Extracts - Year-over-year growth 2022-2027 (%)
    • 6.6 Syrups - Market size and forecast 2022-2027
      • Exhibit 46: Chart on Syrups - Market size and forecast 2022-2027 ($ million)
      • Exhibit 47: Data Table on Syrups - Market size and forecast 2022-2027 ($ million)
      • Exhibit 48: Chart on Syrups - Year-over-year growth 2022-2027 (%)
      • Exhibit 49: Data Table on Syrups - Year-over-year growth 2022-2027 (%)
    • 6.7 Others - Market size and forecast 2022-2027
      • Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
      • Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
      • Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)
    • 6.8 Market opportunity by Product
      • Exhibit 54: Market opportunity by Product ($ million)

    7 Market Segmentation by Distribution Channel

    • 7.1 Market segments
      • Exhibit 55: Chart on Distribution Channel - Market share 2022-2027 (%)
      • Exhibit 56: Data Table on Distribution Channel - Market share 2022-2027 (%)
    • 7.2 Comparison by Distribution Channel
      • Exhibit 57: Chart on Comparison by Distribution Channel
      • Exhibit 58: Data Table on Comparison by Distribution Channel
    • 7.3 Hospitals and retail pharmacies - Market size and forecast 2022-2027
      • Exhibit 59: Chart on Hospitals and retail pharmacies - Market size and forecast 2022-2027 ($ million)
      • Exhibit 60: Data Table on Hospitals and retail pharmacies - Market size and forecast 2022-2027 ($ million)
      • Exhibit 61: Chart on Hospitals and retail pharmacies - Year-over-year growth 2022-2027 (%)
      • Exhibit 62: Data Table on Hospitals and retail pharmacies - Year-over-year growth 2022-2027 (%)
    • 7.4 E-commerce - Market size and forecast 2022-2027
      • Exhibit 63: Chart on E-commerce - Market size and forecast 2022-2027 ($ million)
      • Exhibit 64: Data Table on E-commerce - Market size and forecast 2022-2027 ($ million)
      • Exhibit 65: Chart on E-commerce - Year-over-year growth 2022-2027 (%)
      • Exhibit 66: Data Table on E-commerce - Year-over-year growth 2022-2027 (%)
    • 7.5 Market opportunity by Distribution Channel
      • Exhibit 67: Market opportunity by Distribution Channel ($ million)

    8 Customer Landscape

    • 8.1 Customer landscape overview
      • Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    9 Geographic Landscape

    • 9.1 Geographic segmentation
      • Exhibit 69: Chart on Market share by geography 2022-2027 (%)
      • Exhibit 70: Data Table on Market share by geography 2022-2027 (%)
    • 9.2 Geographic comparison
      • Exhibit 71: Chart on Geographic comparison
      • Exhibit 72: Data Table on Geographic comparison
    • 9.3 Asia - Market size and forecast 2022-2027
      • Exhibit 73: Chart on Asia - Market size and forecast 2022-2027 ($ million)
      • Exhibit 74: Data Table on Asia - Market size and forecast 2022-2027 ($ million)
      • Exhibit 75: Chart on Asia - Year-over-year growth 2022-2027 (%)
      • Exhibit 76: Data Table on Asia - Year-over-year growth 2022-2027 (%)
    • 9.4 North America - Market size and forecast 2022-2027
      • Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
      • Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
      • Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)
    • 9.5 Europe - Market size and forecast 2022-2027
      • Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
      • Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
      • Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)
    • 9.6 Rest of World (ROW) - Market size and forecast 2022-2027
      • Exhibit 85: Chart on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
      • Exhibit 86: Data Table on Rest of World (ROW) - Market size and forecast 2022-2027 ($ million)
      • Exhibit 87: Chart on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
      • Exhibit 88: Data Table on Rest of World (ROW) - Year-over-year growth 2022-2027 (%)
    • 9.7 US - Market size and forecast 2022-2027
      • Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ million)
      • Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
      • Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)
    • 9.8 China - Market size and forecast 2022-2027
      • Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ million)
      • Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
      • Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)
    • 9.9 Japan - Market size and forecast 2022-2027
      • Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
      • Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
      • Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)
    • 9.10 India - Market size and forecast 2022-2027
      • Exhibit 101: Chart on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 102: Data Table on India - Market size and forecast 2022-2027 ($ million)
      • Exhibit 103: Chart on India - Year-over-year growth 2022-2027 (%)
      • Exhibit 104: Data Table on India - Year-over-year growth 2022-2027 (%)
    • 9.11 Germany - Market size and forecast 2022-2027
      • Exhibit 105: Chart on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 106: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
      • Exhibit 107: Chart on Germany - Year-over-year growth 2022-2027 (%)
      • Exhibit 108: Data Table on Germany - Year-over-year growth 2022-2027 (%)
    • 9.12 UK - Market size and forecast 2022-2027
      • Exhibit 109: Chart on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 110: Data Table on UK - Market size and forecast 2022-2027 ($ million)
      • Exhibit 111: Chart on UK - Year-over-year growth 2022-2027 (%)
      • Exhibit 112: Data Table on UK - Year-over-year growth 2022-2027 (%)
    • 9.13 Market opportunity by geography
      • Exhibit 113: Market opportunity by geography ($ million)

    10 Drivers, Challenges, and Trends

    • 10.1 Market drivers
      • 10.2 Market challenges
        • 10.3 Impact of drivers and challenges
          • Exhibit 114: Impact of drivers and challenges in 2022 and 2027
        • 10.4 Market trends

          11 Vendor Landscape

          • 11.1 Overview
            • 11.2 Vendor landscape
              • Exhibit 115: Overview on Criticality of inputs and Factors of differentiation
            • 11.3 Landscape disruption
              • Exhibit 116: Overview on factors of disruption
            • 11.4 Industry risks
              • Exhibit 117: Impact of key risks on business

            12 Vendor Analysis

            • 12.1 Vendors covered
              • Exhibit 118: Vendors covered
            • 12.2 Market positioning of vendors
              • Exhibit 119: Matrix on vendor position and classification
            • 12.3 Arkopharma Laboratories
              • Exhibit 120: Arkopharma Laboratories - Overview
              • Exhibit 121: Arkopharma Laboratories - Product / Service
              • Exhibit 122: Arkopharma Laboratories - Key offerings
            • 12.4 Beijing Tongrentang Co Ltd.
              • Exhibit 123: Beijing Tongrentang Co Ltd. - Overview
              • Exhibit 124: Beijing Tongrentang Co Ltd. - Product / Service
              • Exhibit 125: Beijing Tongrentang Co Ltd. - Key offerings
            • 12.5 Bio Botanica Inc.
              • Exhibit 126: Bio Botanica Inc. - Overview
              • Exhibit 127: Bio Botanica Inc. - Product / Service
              • Exhibit 128: Bio Botanica Inc. - Key offerings
            • 12.6 Blackmores Ltd.
              • Exhibit 129: Blackmores Ltd. - Overview
              • Exhibit 130: Blackmores Ltd. - Business segments
              • Exhibit 131: Blackmores Ltd. - Key offerings
              • Exhibit 132: Blackmores Ltd. - Segment focus
            • 12.7 Dabur India Ltd.
              • Exhibit 133: Dabur India Ltd. - Overview
              • Exhibit 134: Dabur India Ltd. - Business segments
              • Exhibit 135: Dabur India Ltd. - Key offerings
              • Exhibit 136: Dabur India Ltd. - Segment focus
            • 12.8 Dasherb Corp.
              • Exhibit 137: Dasherb Corp. - Overview
              • Exhibit 138: Dasherb Corp. - Product / Service
              • Exhibit 139: Dasherb Corp. - Key offerings
            • 12.9 Dr. Willmar Schwabe GmbH and Co. KG
              • Exhibit 140: Dr. Willmar Schwabe GmbH and Co. KG - Overview
              • Exhibit 141: Dr. Willmar Schwabe GmbH and Co. KG - Product / Service
              • Exhibit 142: Dr. Willmar Schwabe GmbH and Co. KG - Key offerings
            • 12.10 Emami Ltd.
              • Exhibit 143: Emami Ltd. - Overview
              • Exhibit 144: Emami Ltd. - Product / Service
              • Exhibit 145: Emami Ltd. - Key offerings
            • 12.11 Hamdard Laboratories
              • Exhibit 146: Hamdard Laboratories - Overview
              • Exhibit 147: Hamdard Laboratories - Product / Service
              • Exhibit 148: Hamdard Laboratories - Key offerings
            • 12.12 Himalaya Global Holdings Ltd.
              • Exhibit 149: Himalaya Global Holdings Ltd. - Overview
              • Exhibit 150: Himalaya Global Holdings Ltd. - Product / Service
              • Exhibit 151: Himalaya Global Holdings Ltd. - Key offerings
            • 12.13 Hishimo Pharmaceuticals Pvt. Ltd.
              • Exhibit 152: Hishimo Pharmaceuticals Pvt. Ltd. - Overview
              • Exhibit 153: Hishimo Pharmaceuticals Pvt. Ltd. - Product / Service
              • Exhibit 154: Hishimo Pharmaceuticals Pvt. Ltd. - Key offerings
            • 12.14 Ricola Group AG
              • Exhibit 155: Ricola Group AG - Overview
              • Exhibit 156: Ricola Group AG - Product / Service
              • Exhibit 157: Ricola Group AG - Key offerings
            • 12.15 Schaper and Brummer GmbH and Co. KG
              • Exhibit 158: Schaper and Brummer GmbH and Co. KG - Overview
              • Exhibit 159: Schaper and Brummer GmbH and Co. KG - Product / Service
              • Exhibit 160: Schaper and Brummer GmbH and Co. KG - Key offerings
            • 12.16 Sido Muncul
              • Exhibit 161: Sido Muncul - Overview
              • Exhibit 162: Sido Muncul - Business segments
              • Exhibit 163: Sido Muncul - Key offerings
              • Exhibit 164: Sido Muncul - Segment focus
            • 12.17 Weleda Group
              • Exhibit 165: Weleda Group - Overview
              • Exhibit 166: Weleda Group - Business segments
              • Exhibit 167: Weleda Group - Key offerings
              • Exhibit 168: Weleda Group - Segment focus

            13 Appendix

            • 13.1 Scope of the report
              • 13.2 Inclusions and exclusions checklist
                • Exhibit 169: Inclusions checklist
                • Exhibit 170: Exclusions checklist
              • 13.3 Currency conversion rates for US$
                • Exhibit 171: Currency conversion rates for US$
              • 13.4 Research methodology
                • Exhibit 172: Research methodology
                • Exhibit 173: Validation techniques employed for market sizing
                • Exhibit 174: Information sources
              • 13.5 List of abbreviations
                • Exhibit 175: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Herbal Medicine market growth will increase by $39.52 billion during 2021-2026.
              The herbal medicine market is expected to grow at a CAGR of 6.69% during 2021-2026.
              Technavio has segmented the herbal medicine market by product (Capsules and tablets, Powders, Extracts, Syrups, and Others) and geographic (Asia, North America, Europe, and MEA).
              Arizona Natural Products, Arkopharma Laboratories, Bio Botanica Inc., Blackmores Ltd., Dabur India Ltd., Himalaya Global Holdings Ltd., Hishimo Pharmaceuticals Pvt. Ltd., Ricola Ltd., Schaper and Brummer GmbH and Co. KG, ZeinPharma Germany GmbH are a few of the key vendors in the herbal medicine market.
              Asia will register the highest growth rate of 41.78% among the other regions. Therefore, the herbal medicine market in Asia is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the herbal medicine market growth are:
              • Boosts the immune system
              The herbal medicine market vendors should focus on grabbing business opportunities from the capsules and tablets segment as it accounted for the largest market share in the base year.
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