Global Medicinal Herbs Market: Snapshot
The global medicinal herbs market is estimated to grow at fantastic pace during the forecast period of 2023 to 2030. In recent period, the demand for ayurvedic and herbal products is increased remarkably on the back of recent COVID-19 pandemic. The list of popular herbs available today includes dandelion, horsetail, valerian, echinacea, lemon balm, st. john’s wort, calendula, yarrow, spearmint, peppermint, and marshmallow wintergreen. The market for medicinal herbs is projected to continue witnessing this demand during the upcoming years.
An upcoming research report from TMR on the medicinal herbs market presents 360-degre view of this market. It covers study of vital elements impacting positively or negatively on market growth. Apart from this, the report offers reliable data on drivers, restraints, key players, and strategies used by them to sustain in the global medicinal herbs market. Thus, this report works as a valuable guide to get all data on the medicinal herbs market for the forecast period of 2023 to 2030.
The global medicinal herbs market is segmented on the basis of various key factors such as type, nature, form, end-use, and region.
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Global Medicinal Herbs Market: Growth Dynamics
The global medicinal herbs market is growing on the back of growing demand for organic as well as conventional herbs from all across the world. In recent period, there is increase in demand for medicinal herbs in various forms such as health supplement, medicinal tea, herbal medicines, nutritive jams, cosmeceuticals, and others. This factor connotes that the vendors from the global medicinal herbs market hold prodigious growth opportunities in the forthcoming years.
Major worldwide population today is inclined toward using personal care products that are manufactured using natural ingredients. This factor is attracting many companies engaged in personal care products to incorporate medicinal herbs in their products. As a result, the global medicinal herbs market is witnessing remarkable demand avenues.
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Global Medicinal Herbs Market: Competitive Analysis
The global medicinal herbs market is moderately fragmented in nature. Presence of wide number of global as well as regional players shows that the competitive landscape of the market for medicinal herbs is extremely intense. Vendors are executing diverse strategies to maintain their leading market position.
Some players working in the medicinal herbs market are focused on their regional expansion through mergers and acquisition activities. At the same time, several enterprises are investing heavily in research and development activities. The key motive of these moves is to offer superior quality products. All these activities connote that vendors from the global medicinal herbs market have remarkable growth opportunities in the forthcoming years.
The list of key players in the global medicinal herbs market includes:
- Falcon Trading International
- Shaanxi hongda phytochemistry co., ltd.
- Piante officinali san marco
- Yogi Globals
- Starwest Botanicals
- Sunrise nutrachem group co., ltd.
- Himalayan Bio Trade Pvt. Ltd
- Penn Herbs Company, Ltd
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Global Medicinal Herbs Market: Regional Assessment
The global medicinal herbs market is spread across seven key regions, namely, Latin America, Europe, North America, South Asia, East Asia, Oceania, and Middle East and Africa. Of them, the market for medicinal herbs is projected to gain highest demand avenues from the U.S. and Europe. Presence of considerable number of older population in these regions is driving the market growth. Apart from this, the medicinal herbs market holds substantial demand opportunities from emerging economies such as India and China. Key reason for this growth is use of traditional medicines by major population in these regions.