Herbal Medicine Market Size, Share, Growth, and Industry Analysis, By Type (Detoxification Medicine, Antipyretic Medicine, Aigestant Medicine, Blood Circulation Medicine and Others), By Application (Western Herbalism, Traditional Chinese Medicine and Others) and Regional Insights and Forecast to 2033

• 

  Request a Free sample to learn more about this report

HERBAL MEDICINE MARKET OVERVIEW

The herbal medicine market size was valued at approximately USD 186.4 billion in 2024 and is expected to reach USD 317 billion by 2033, growing at a compound annual growth rate (CAGR) of about 6.2% from 2025 to 2033.

Herbal medicine entails utilization of whatever entire or partial part of the plant in the repair or blunting of disease or ailment through exploiting some characteristics contained in roots, leaves, flowers seeds and skins of some plants. Such kind of medicine is one of the oldest kinds which is in usage in a number of countries even nowadays.

COVID-19 IMPACT

Herbal Medicine Industry Had a Positive Effect Due to Increased Demand for Immune-Boosting and Preventative Remedies during COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic led to heightened awareness of people and awareness on the part of people to build immunity (consciousness). This led to a sharp increase in consumption of so called immunoprohabetics herbs and products including Echinacea, Ginger, Garlic, Turmeric, and Elderberries.

LATEST TRENDS

Shift Toward Immune-Boosting Herbal Remedies to Propel Market Growth

This year and most importantly with coronavirus- COVID 19, there was a surge in the use of immunomodulating herbs. Consumers appear to be placing more trust in herbs including Echinacea, elderberry, ginger and turmeric when it comes to boosting up their immunity. The accelerating pace of transformation in the consumption toward the preventive form of medication and increasing the immune system is still the key factor in this segment.

Request a Free sample to learn more about this report

HERBAL MEDICINE MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Detoxification Medicine, Antipyretic Medicine, Aigestant Medicine, Blood Circulation Medicine and Others.

• Detoxification Medicine- A number of detoxification herbal medicines are used to help clean the body products that develop as a result of ill health, toxins, pollution and other food habits.

• Antipyretic Medicine- These are drugs which are employed to treat fever and the achs commonly due to infection and or inflammation.

• Aigestant Medicine- The freshest and newest category of Aigestant herbal medicines are intended for use in digestion relief and supports overall digestive system function.

• Blood Circulation Medicine- Blood circulation herbal Medicines are taken to boost blood circulation and increase blood circulation to different parts of the body thus acting as heart tonic and general tonic.

By Application

Based on application the market can be categorized into Western Herbalism, Traditional Chinese Medicine and Others.

• Western Herbalism- Western Herbalism is a plant and its base system of medicine has been practiced since European and North American countries without much emphasis on experimental proof. Western herbalism has its roots with an emphasis in using the plants for curing in that region.

• Traditional Chinese Medicine- Many people these days are using traditional Chinese medicine and one of which is herbal medicine for various diseases or sicknesses. As a part of traditional Chinese medicine, both Yin and Yang and the flow of Qi is an important concept raw herbs can be used to regulate Yin and Yang and cure diseases.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions. 

Driving Factors

Rising Consumer Preference for Natural and Organic Products to Drive Market Advancement

One of the key driving factors in the Herbal Medicine market growth is the Rising Consumer Preference for Natural and Organic Products. One of the major trends that positively influence the herbal medicines industry is the general change in perception by consumers to natural & organic products. More people are using natural products since they are now aware of the negative impacts of synthetic drugs in chemicals for example(Listerine).

Growing Awareness of the Health Benefits of Herbal Medicines to Expand the Market

Rising knowledge about the curative properties of the organic products for long-term ailments, immunity boosters and general health is the world’s key factor that is boosting the herbal medications market. Information and education, access to information, and increasing health awareness of several diseases have convinced customers that herbal medicine is capable of enhancing health and preventing diseases.

Restraining Factor

Lack of Standardization and Quality Control Poses Potential Impediments to Market Growth

Actually, one of the profound problems facing the herbal medicines market is the inability to exercise standardization. Herbal products are processed naturally and their constituents depend on the plant sources, geographical conditions of the plant origin, and the conditions of growth of the plants. The consequence of such an approach is that some editions of the drug can be of various potency or efficacy, with potential negative consequences for the consumer.

Opportunity

Growing Popularity of Preventative Healthcare To Create Opportunity for the Product in the Market

The present society is more focused on disease control than the diseases themselves and this is because. Today, many extracts also referred to as herbal medicines are viewed as ways of boosting the body’s immunity to such diseases as diabetes and cancer and improving one’s health. This means that the people are in search of preventive health products and the herbal companies should be prepared to come up with products that will help the body in terms of disease immunity, stress, energy and overall health.

Challenge

Lack of Scientific Evidence and Research Could Be a Potential Challenge for Consumers

Ethnopharmacological uses of medicinal plants have been employed since the ancient period, but inadequate test-verified clinical trials to support the effectiveness of many herbal products remain an enormous problem. It should also be noted that the overwhelming majority of herbs is only weakly supported with clinical evidence and, therefore, cannot be recommended to their clients by many healthcare practitioners.

• Request a Free sample to learn more about this report

•  

HERBAL MEDICINE MARKET REGIONAL INSIGHTS

• North America

Current international market for herbal medicines, which is largely in North America, includes the United States and Canada. Consumption of herbal products has been on the rise for quite some time within the region due to the expansion of the consumer reach towards natural/alternative health cure systems.

• Europe

Europe is also another large market for herbal medicines with Germany, France, The UK and Italy being among the market’s largest consumers. Pest Wark drives the market by ancient culture and tradition of using herbs and demand for health consciousness is growing rapidly.

• Asia

Asia Pacific has emerged as the most dominant region in the Herbal Medicine market share due to a convergence of factors that propel its leadership in this dynamic industry.  In countries like China and India the usage of herbs is a part of tradition, for example, in TCM and Ayurveda are used for thousands of years. Such traditions have not changed up to date and that is why the popularity of herbal remedies in these areas is still very high.

KEY INDUSTRY PLAYERS

Key Players Transforming the Herbal Medicine Landscape through Innovation and Global Strategy

Major industry players are pivotal in shaping the Herbal Medicine market, driving change through a dual strategy of continuous innovation and a well-thought-out global presence. Most of the major players are actively venturing into new products to help respond to the ever increasing market for herbal products.For instance, Himalaya Wellness, Nature’s Way, and Swisse health have expanded into categories beyond just health system strengthening and herbal remedies into foods and beverages, and cosmetics.

List of Herbal Medicine Market Players Profiled

• Weleda(Switzerland)
• Madaus(Germany)
• Schwabe(Germany)
• Blackmores(Australia)
• Tsumura(Japan)

INDUSTRIAL DEVELOPMENT

June 2023: Traditional Medicinals the North American botanical wellness company has brought a new product to the Canadian market and it is the Organic Lemon Ginger tea.A new invigorating beverage made from natural organic flora including lemon peel, ginger, hibiscus and lemongrass.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated time frame. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.