The global herbal medicine market trends was valued at USD 233.08 billion in 2024 and is expected to rise from USD 251.25 billion in 2025 to USD 437 billion by 2032, reflecting a CAGR of 8.23% during the forecast period. Europe led the industry in 2024 with a market share of 44.55%. In the U.S., the market is projected to expand significantly, reaching USD 37.90 billion by 2032, supported by growing health awareness and a preference for natural products driven by environmental consciousness.
Herbal medicines are derived from various parts of plants—including roots, stems, leaves, flowers, and seeds—and are widely used to enhance health and treat illnesses. Popular examples include ginseng, ginkgo, ginger, chamomile, and turmeric. For centuries, communities around the world have relied on medicinal plants as part of their traditional practices to treat human and animal diseases.
Shifts in lifestyle are influencing consumer health, creating greater demand for alternative treatments. High consumption of processed food often leads to health challenges such as stress, obesity, and cardiovascular diseases. Consequently, many consumers now favor herbal medicine over conventional pharmaceuticals. The World Health Organization (WHO) reports that nearly 80% of the global population turns to traditional health practitioners for plant-based remedies, believing that products labeled as “natural” are safer and have minimal side effects.
The COVID-19 outbreak, declared a pandemic in March 2020, had a profound impact on healthcare and pharmaceuticals. The crisis resulted in fluctuating medicine availability across retail and hospital channels. According to the DARU Journal of Pharmaceutical Sciences, from early 2020, hospitals reported a 100% to 700% increase in the use of medicines such as sedatives, respiratory drugs, and pain treatments for COVID-19 patients.
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Market Segmentation
The pharmaceutical and nutraceutical sectors are driving the growth of herbal medicine, fueled by rising demand for plant-based raw materials in dietary supplements and alternative healthcare. Tablets and capsules dominate delivery formats, owing to their ease of use and wide accessibility in pharmacies. The market is segmented across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Highlights
The report provides a detailed evaluation of the herbal medicine industry, including segment analysis, investment opportunities, and strategies adopted by key players. It also examines regional growth trends and the impact of COVID-19 on global operations.
Market Drivers and Challenges
Rising demand for herbal ingredients in cosmetics: The beauty and personal care industry is increasingly turning to natural alternatives, creating new opportunities for exporters and producers. As consumers prefer plant-based products over synthetic options, demand for herbal extracts in skincare and cosmetics is expected to rise steadily.
Regional Insights
Europe continues to dominate the market, supported by its strong cosmetics industry and the growing use of natural ingredients in beauty and personal care, while North America is witnessing growth driven by rising health awareness and increasing demand for herbal and organic healthcare products, particularly in the U.S. Meanwhile, Asia Pacific and Latin America are experiencing rapid expansion, fueled by the growth of their cosmetics markets and greater internet penetration, which is boosting consumer awareness of herbal solutions.
Competitive Landscape
Leading companies are focusing on consumer-driven innovation, frequent product launches, mergers, and acquisitions to expand their market share and address evolving consumer preferences.
Key Market Players
- Cultivator Natural Products Pvt. Ltd. (India)
- 21ST Century HealthCare, Inc. (U.S.)
- Herbalife Nutrition (U.S.)
- ZeinPharma Germany GmbH (Germany)
- Blackmores Limited (Australia)
- Himalaya Global Holdings Ltd. (India)
- Nutraceutical Corporation (U.S.)
- Emami Limited (India)
- Nature's Answer, LLC (U.S.)
- Patanjali Ayurved Limited (India)
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Recent Development
- March 2021: Lotus, an Indian beauty brand, introduced Lotus Botanicals, a new product line featuring skin and hair care solutions, made available through its own e-commerce store as well as third-party online retailers.
