Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 166 Billion | USD 348 Billion | 11.2% | 2021 |
FrequentlyAsked Questions
The global herbal medicine market is expected to benefit from the growing trend of self-medication amongst the general population. The global market is witnessing growing awareness about the benefits of the medicines and hence more people are inclined towards adopting herbal medicines for regular health issues like fever, cough, cold, headache, lower-degree burns, digestive issues, and other such concerns.
According to Zion Market Research, the global herbal medicine market size was worth around USD 166 billion in 2021 and is predicted to grow to around USD 348 billion by 2028 with a compound annual growth rate (CAGR) of roughly 11.2% between 2022 and 2028.
The global herbal medicine market is anticipated to generate the highest revenue from Europe owing to the increasing adoption of herbal medicines amongst the general population.
The global herbal medicine market is driven by players like Bayer AG, Schaper & Brümmer, Venus Pharma GmbH, Himalaya Global Holdings Ltd, Arkopharma, Hishimo Pharmaceuticals, Arizona Natural Products, Blackmores, BEOVITA, Dasherb Corp., ZeinPharma Germany GmbH, and Dr. Willmar Schwabe India Pvt. Ltd.
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