Medicinal herbs are anticipated to make inroads at a value CAGR of ~6% over 2019-2028. According to a study published by Insure Insights on the medicinal herbs market, the growing popularity of organic and natural medicines in diagnostic and treatment applications is anticipated to augment the demand in the global medicinal herbs market.

Top Driver: Rising Demand for Medicinal herbals Anticipated from pharmaceuticals

Medicinal herbs are gaining high demand in pharmaceuticals. Herbal medicines had been used in Ayurveda since ancient times as a cure for various diseases. Pharmaceutical companies are offering herbal medicines in the form of capsules, syrups, tablets, powders, and plant extracts. The growing preference for traditional medicines by consumers and fewer side-effects, even on the use for a longer period enhances the demand for herbal medicines. Further, in 2020, the outbreak of COVID-19 is creating immense demand for medicinal herbs in countries such as China, India, and Indonesia.

Health benefits offered Medicinal Tea to Make Crucial Contribution to Growth of Global Medicinal Herbs Market

Among application segments of the global medicinal herbs market, medicinal tea is predicted to show significant growth in the future. Medicinal tea is rich in antioxidants, vitamins, and minerals; hence the consumption of the tea has been increasing in the last few years. Several varieties of medicinal teas have been launched in recent times, and better research initiatives are expected to introduce more products in the market during the forecast period. Some of the most popular medicinal teas are peppermint tea, chamomile tea, and hibiscus tea. Peppermint tea benefits in digestion and has antiviral and antimicrobial properties. While hibiscus tea helps in lowering the blood pressure, and it is ideal for pre-hypersensitive and mildly hypersensitive people. The increasing awareness about preventive healthcare and stressful lifestyle is encouraging consumers to choose products with health benefits such as herbal tea.

Online retailing is expected to spur the growth of medicinal tea during the forecast period. Quick delivery services and competitive selling prices are the major factors increasing the growth of Internet retailing worldwide. Several online vendors offer different flavors and types of medicinal tea. The vendors offer live chat options to provide instant support to customers who face any kind of difficulty while purchasing products, which is driving consumers to purchase medicinal teas through online platforms.

Rising Focus on Preventive Health Management to Benefit North America Market

North American countries such as the US are predicted to maximize their spending on organic products such as herbs tea, health supplements, and organic cosmetics. In 2018, the American Botanical Council announced that the demand for herbal dietary supplements is increasing by more than 9% in 2018 as compared to 2017.

The rising need for maintaining and enhancing the overall health and well-being is helping the products to gain the popularity of the products in the region. Rising awareness about long- and short-term side effects of using chemical products is shifting consumer’s preference towards herbal products. Moreover, to fight against obesity, maintain health, and to boost the immune system are boosting the demand for herbal and Ayurveda extract-based products in the US.

Players to Focus on Expanding Applications in Healthcare, Cosmetics, and others

The global medicinal herbs market is expected to stay fragmented with the increase in the number of new entrants in the coming years. Shaanxi hongda phytochemistry, Falcon Trading International, Himalayan Bio Trade Pvt. Ltd., Baidyanath, ZIELPOL, Pukka Herbs, Farlong Pharmaceutical, Yogi Globals, and Starwest Botanicals among others could be at the forefront of the competition in the global medicinal herbs market. The vendors in the market are focusing on expansion through product launch following are few examples have listed:

Baidyanath: In April 2019, to capture growing consumer shift towards natural, organic and Ayurvedic products, Baidyanath Ayurveda launched Ayurvedic and herbal personal care products for skin care, hair care, oral care and body care products under Mantra Herbal, in India.

Farlong Pharmaceutical: In October 2019, the company launched new herbal supplement product NotoGinseng Steamed Powder to improve immunity and promote radiant skin.

Pukka Herbs: In November 2019, the company introduced new varieties of organic lattes featuring adaptogens and functional herbs.

Scope of the Report

By Nature

• Organic
• Conventional

By Application

• Medicinal Tea
• Health Supplement
• Nutritive Jams
• Herbal Medicines
• Cosmeceuticals
• Others

By Form

• Whole
• Powder
• Liquid

By Region

• North America
• Europe
• Asia Pacific
• LAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.