Herbal Medicine Market Size to Achieve USD 580.81 Billion by 2034, Rising demand for natural treatments drives market growth
02-May-25 08:51:18

According to Towards FnB, the global herbal medicine market size will expand from USD 105.24 billion in 2025 to approximately USD 580.81 billion by 2034 with a compound annual growth rate of 20.9% throughout the forecast period from 2025 to 2034. The Europe herbal medicine market size was calculated at USD 29.60 billion in 2024.

Ottawa, April 29, 2025 (GLOBE NEWSWIRE) -- The global herbal medicine market size stood at USD 87.05 billion in 2024 and is forecast to grow around USD 580.81 billion by 2034, increasing from USD 105.24 billion in 2025, expanding at a CAGR of 20.9% from 2025 to 2034, according to study published by Towards FnB, a sister firm of Precedence Research.

The growth of the herbal medicine market is driven by an increasing consumer inclination towards natural and organic healthcare solutions, heightened awareness about the side effects of synthetic drugs, and a growing focus on preventive health measures. Acceptance of traditional medicine, support from government initiatives, and widening distribution networks are also playing a significant role in the market's development.

Herbal Medicine Market Overview:

The herbal medicine sector is showing robust growth, largely due to an upsurge in consumer preference for natural, plant-derived therapies over synthetic pharmaceuticals. Heightened health consciousness and a growing tendency towards preventive care have driven demand for herbal products globally. Traditional healing practices, including Ayurveda, Traditional Chinese Medicine, and Unani systems, are gaining traction worldwide, assisted by government support for alternative medicine. Additionally, the increase in chronic illnesses, health issues linked to lifestyle, and an aging demographic are prompting individuals to opt for safer, chemical-free treatment alternatives.

Herbal Medicine Market Key Highlights:

• By region, Europe led the market with a 34% share in 2024, driven by increasing demand for herbal medicine in treating lifestyle diseases.
• Asia Pacific is expected to see significant market growth, with pharmaceutical companies using real-world data throughout product development.
• The ayurveda segment held the largest revenue share of 28% in 2024, known as one of the oldest medical systems worldwide.
• The apitherapy segment is projected to grow the fastest, using bee products like honey and venom for disease management.
• The tablets/capsules segment led with a 47% market share in 2024, offering long-lasting oral herbal medications.
• The powder form segment is expected to grow fastest, with Ayurveda favoring powdered herbs for consumption.
• The roots segment held the largest market share of 39% in 2024, valued for their high concentration of bioactive compounds.
• The leaves segment is expected to grow rapidly, used in various forms for food, tools, and medicine.
• Direct sales dominated with 68% of the market share in 2024, valued for trust-building and personal connections in herbal medicine.
• E-sales are projected to grow fastest, with herbal medicines available via online pharmacies, telemedicine, and wellness sites.

Recent Herbal Products by Top Market Companies

 

Sr. No.	Name of the Company	Name of the Model	Name of the Brand	Usage
1.	Himalaya Drug Company	Himalaya Herbal Healthcare – Liv.52	Himalaya	Liver Health
		Himalaya Herbal Healthcare – Ashvagandha	Himalaya	Stress and Anxiety
2.	Bionorica SE	Sinupret	Bionorica	Respiratory Health
		Canephron	Bionorica	Urinary Health
3.	Organic India	Organic India – Tulsi Tea	Organic India	Stress Relief and Immunity
		Organic India – Moringa Powder	Organic India	General Health and Vitality

 

Herbal supplements, teas, oils, and skincare lines are steadily entering the mainstream market. Innovations in product development, along with improved availability through both online and physical stores, are further propelling market growth. The clean-label trend, along with a desire for organic offerings, continues to enhance the appeal of herbal medicine, solidifying its position as a vital component of the overall health and wellness landscape.

Major Key Trends in the Herbal Medicine Market:

• Increasing Demand for Natural Products: Consumers are opting for herbal medicines over synthetic options because of concerns regarding chemical side effects, driving a global trend towards natural, plant-based healthcare solutions.
• Government Backing for Traditional Medicine: Governments in regions such as Asia, Europe, and North America are advocating for herbal medicine use via regulatory support, funding research programs, and incorporating traditional therapies into public health frameworks.
• Expansion of E-commerce and Online Pharmacies: The rapid growth of online retail platforms has increased the accessibility of herbal medicinal products, fostering convenience and encouraging the global acceptance of natural healthcare options.

Limitations & Challenges in the Herbal Medicine Market:

• Lack of Standardized Production: The herbal medicine sector confronts challenges related to maintaining consistency and quality control, as the absence of standardized manufacturing processes can result in inconsistent potency and product effectiveness.
• Regulatory Challenges: Herbal remedies frequently encounter strict regulations in various countries, where the approval processes can be lengthy and complicated, hindering product launches and limiting market entry for novel herbal treatments.
• Insufficient Scientific Validation: Although widely used, many herbal products lack comprehensive scientific research demonstrating their efficacy and safety, which can undermine consumer confidence and impede acceptance in mainstream healthcare.

Opportunity in the Herbal Medicine Market

The foremost opportunity in the herbal medicine sector is tied to the increasing interest in preventive healthcare and wellness products. As consumers increasingly seek natural solutions for maintaining health, the market for herbal supplements, functional foods, and skincare products is quickly growing. Emerging regions, especially in Asia and Latin America, present untapped potential due to heightened healthcare awareness and rising disposable incomes.

Furthermore, advancements in formulation technologies, including standardized herbal extracts and encapsulation techniques, are improving product quality and fostering consumer confidence. Strategic partnerships between practitioners of traditional medicine and modern pharmaceutical firms could unlock significant growth prospects worldwide.

• In January 2024, the National Integrated Research Program on Medicinal Plants (NIRPROMP) announced plans to launch three new herbal medicines. Yerba Buena, Ulasimang Bato, and Akapulko, which were initially included among the ten herbal medicines endorsed by the Department of Health (DOH), are set to be introduced to the market.

Herbal Medicine Market Regional Analysis:

Europe: Leader in Herbal Medicine Market

Europe dominated the herbal medicine market with the largest market share, bolstered by a rich history of natural and botanical treatments throughout the region. The rising consumer inclination towards organic, plant-based healthcare products and heightened awareness of preventive healthcare have significantly driven demand. Nations such as Germany, France, and the United Kingdom have experienced an increase in herbal product usage, supported by conducive regulatory systems, established supply chains, and strong incorporation of herbal medicine within national healthcare frameworks.

Top Europe Countries for Herbal Medicine Production

• Germany: Germany boasts a longstanding tradition of herbal medicine, with significant consumer interest in natural treatments. The nation has a well-defined regulatory system that ensures the quality, safety, and efficacy of herbal product applications.
• France: The herbal medicine market in France flourishes due to consumer enthusiasm for natural health remedies. The country’s extensive legacy of utilizing plants for medicinal purposes has led to a rising demand for herbal supplements and therapies.
• United Kingdom: In the UK, there has been an increase in the popularity of herbal medicine, particularly regarding wellness products. Consumers are increasingly embracing natural solutions for immunity, energy, and mental wellness, indicating a transition toward holistic health care.

Furthermore, the uptick in lifestyle-related health issues and an aging population seeking safer alternatives to chemical treatments have further propelled market growth across Europe.

• In February 2024, Nature's Way introduced Turmerich, a new turmeric supplement designed to target inflammation and joint health. This product responds to the growing demand for natural remedies in Europe, reflecting the rising consumer trend favoring herbal options over conventional pharmaceuticals for managing chronic ailments and enhancing overall wellness.

Asia Pacific’s Significant growth in Herbal Medicine

Asia Pacific is the fastest growing market for the herbal medicine market with a significant CAGR during the forecast period, spurred by heightened consumer consciousness about natural and plant-based health options. A notable increase in demand is occurring due to the growing embrace of traditional herbal practices in nations like China, India, and Japan. This region's large population, paired with a shift towards preventive healthcare, contributes to the increasing preference for herbal remedies over standard pharmaceuticals.

Major Factors for the Market’s Expansion in Asia Pacific:

• The growing understanding of the advantages of herbal medicine, fueled by health-aware consumers in Asia Pacific, is accelerating the demand for natural, plant-based alternatives in place of synthetic pharmaceuticals.
• The deep-rooted cultural legacy of using herbal medicine in countries such as China and India underpins the market’s advancement, with traditional practices being woven into contemporary health and wellness trends.
• Government policies and regulations that encourage the use of herbal medicine in Asia Pacific, along with increased investments in research and development, are fostering a conducive environment for market growth.

Additionally, heightened investments in herbal research and product development by domestic companies are driving market growth, positioning Asia Pacific as a crucial growth hub for herbal medicine in the upcoming years.

• In April 2024, Mitsui & Co., Ltd. purchased Eu Yan Sang International Ltd., a Singapore-based company specializing in traditional Chinese medicine, for USD 584.6 million. This strategic acquisition enhances Mitsui's footprint in the Asian market and highlights the rising global interest in traditional herbal remedies.

Herbal Medicine Market Report Scope

 

Report Attribute	Key Statistics
Base Year	2024
Forecast Period	2025 to 2034
CAGR	20.9%
Market Size in 2024	USD 87.05 Billion
Market Size in 2025	USD 105.24 Billion
Market Size by 2034	USD 580.81 Billion
Dominated Region	Europe

 

Herbal Medicine Market Segment Analysis

Intervention Analysis

The ayurveda segment dominated the market with the largest market share due to its deep cultural significance and widespread application in countries such as India. As a historical medical system, Ayurveda continues to provide solutions for various health concerns, including stress, digestive issues, and skin ailments. Its holistic methodology emphasizes natural healing and preventative care, which is why it remains the most favored and widely embraced intervention within the global herbal medicine market.

The apitherapy segment, which utilizes bee products such as honey, propolis, and royal jelly, is the fastest growing segment with a notable CAGR during the forecast period. This growth is driven by rising consumer awareness of natural remedies and the health benefits associated with bee products. Apitherapy is increasingly utilized for a range of conditions, including allergies, skin disorders, and immune system enhancement, appealing to modern consumers who prefer natural treatments.

Product Form Analysis

The tablets and capsules segment dominated the market with the largest market share. Their convenience, accurate dosing, and long shelf life contribute to their lasting popularity among consumers. These forms are commonly used for various issues, such as joint discomfort, digestive health, and immune support. With a wide variety of herbal formulations available, they remain the primary choice for the majority of herbal remedy users.

The powder segment is the fastest growing segment with a significant CAGR during the forecast period, spurred by the rising popularity of powdered supplements that are easily integrated into daily habits. These powders, typically blended with water or smoothie, offer convenience and effective herbal doses. They are favored by consumers looking for natural remedies for digestive health, increased energy, and detoxification, significantly propelling the growth of this product form in the herbal medicine sector.

Source Analysis

The roots segment dominated the market with the largest market share, because of their historical significance in numerous ancient healing traditions. Well-known root-based herbs like ginger, turmeric, and valerian have been cherished for their healing properties over centuries. These roots are primarily consumed in powdered form or as extracts for various health benefits, from alleviating inflammation to enhancing digestion, reinforcing their status as the leading source in the herbal medicine field.

The leaves segment is the fastest growing segment with a notable CAGR during the forecast period, propelled by their extensive application in many herbal treatments. Leaf-based herbs such as peppermint, moringa, and ginseng are becoming increasingly popular due to their high antioxidant levels and health advantages. These plants are frequently found in teas, powders, and supplements, making them readily accessible to consumers seeking natural and effective strategies for health maintenance and disease prevention.

Distribution Channel Analysis

The direct sales segment dominated the market with the largest market share. They are the most prevalent method for herbal medicine, fostering a tailored approach for customers. Many companies utilize direct sales to provide comprehensive product information and cultivate relationships with consumers. This channel is particularly favored by herbal health practitioners and smaller businesses that offer customized herbal solutions. The ability to educate customers on the benefits of particular herbs builds trust and reinforces direct sales as the top distribution option.

The e-sales segment is the fastest growing segment with a significant CAGR during the forecast period, driven by the increasing shift toward online shopping and digital platforms. Consumers are progressively opting to purchase herbal products via e-commerce websites, which provide the convenience of home delivery and a broad selection of items. The expansion of e-sales is also supported by the availability of product reviews and detailed information, simplifying the process for consumers to make informed choices regarding their herbal medicine purchases.

Herbal Medicine Market Top Companies

• Zandu Realty 
• Baidyanath 
• Patanjali Ayurved 
• Dabur 
• Arlak Ayurveda Pvt Ltd 
• Vicco Laboratories 
• Charak Pharma 
• Hamdard India 
• Wilson Drugs and Pharmaceuticals 
• ZOIC Pharmaceutical 
• Aayuraj Herbal 
• Gaia Herbs 
• Kerala Ayurveda Ltd 
• Annai Herbals 
• Herb Pharm
• Herbalife Nutrition 
• Balckmores 
• AYUSH Ayurvedic Pte Ltd.
• Herbal Hills
• Sheng Chang Pharmaceutical Company
• Nordic Nutraceuticals (now a part of Oy Verman Ab)

Recent Breakthroughs in Global Herbal Medicine Market:

• In March 2024, the Federal Government announced four herbal products developed by the Nigeria Natural Medicine Development Agency (NNMDA) aimed at treating sickle cell disease, diabetes, slowing down the aging process, and addressing upper respiratory tract infections.
• In June 2023, Traditional Medicinals, a prominent botanical wellness company in North America, introduced its latest product in Canada, Organic Lemon Ginger tea. This newly released refreshing blend features a mix of organic herbal components, such as lemon peel, ginger, hibiscus, and lemongrass. The herbal tea provides a tangy, sweet, and mildly spicy flavor and can be enjoyed both hot and cold.