Product ID: SQMIG35B2103
Report ID:
SQMIG35B2103 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
149 |
Figures:
78
Global Herbal Medicine Market size was valued at USD 151.91 billion in 2019 and is poised to grow from USD 168.86 billion in 2023 to USD 437.59 billion by 2031, growing at a CAGR of 11.16% in the forecast period (2024-2031).
Herbal medicine is a type of dietary supplement derived from plant parts such as leaves, bark, seeds, oil, berries, and roots. Herbal medicines have been used to treat a variety of diseases since antiquity. These medicines are now available in a variety of dosage forms thanks to the use of new and innovative methods. The market is divided into four categories such as Herbal Pharmaceuticals, Herbal Functional Foods, Herbal Dietary Supplements, and Herbal Beauty Products. There is restricted scientific evidence for the safety and efficacy of plants used in 21st-century herbalism, which generally does not include standards for purity or dosage. Herbal Medicine commonly involves fungal and bee products, along with minerals, shells, and animal parts. Phytomedicine or phytotherapy are other terms for herbal medicine.
Demand for herbal supplements has been primarily concentrated in the West Because of relatively high levels of health consciousness and widespread and easy access to products. The demand for herbal supplements and remedies is being driven by an ageing population, changing health perceptions, and the threat posed by antimicrobial resistance. Major factors driving growth in emerging countries include an expanding population base, a growing consumer preference for healthy living, rising consumer awareness of wellness and dietary requirements, and a rise in the demand for natural remedies. The region's growth is being fueled by a cultural affinity for herbalism as well as consumer confidence in the efficacy and safety of herbal ingredients.
US Herbal Medicine Market is poised to grow at a sustainable CAGR for the next forecast year.
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REQUEST FREE CUSTOMIZATIONGlobal Herbal Medicine Market size was valued at USD 151.91 billion in 2019 and is poised to grow from USD 168.86 billion in 2023 to USD 437.59 billion by 2031, growing at a CAGR of 11.16% in the forecast period (2024-2031).
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Product ID: SQMIG35B2103