The global herbal medicine market size was valued at USD 233.08 billion in 2024. The market is projected to grow from USD 251.25 billion in 2025 to USD 437 billion by 2032, exhibiting a CAGR of 8.23% during the forecast period. Europe dominated the herbal medicine market with a market share of 44.55% in 2024. Moreover, the herbal medicine market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 37.90 billion by 2032, driven by growing consumer awareness about health and a shift in attitudes toward natural care products due to a strong environmental consciousness.

Herbal medicines are naturally obtained from a plant’s roots, stems, leaves, flowers, or seeds to improve health and treat illnesses. Some popular herbs include gingko, ginseng, ginger, turmeric, and chamomile. For years, local communities have used plant species as part of their culture and traditions to prepare medicines for human and animal diseases.

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Segmentation

Rising Use of Herbal Ingredients in Nutraceuticals and Pharmaceuticals to Drive Market Growth

The market is segmented by application into pharmaceuticals & nutraceuticals, food & beverages, and personal care & beauty products. The pharmaceuticals & nutraceuticals segment holds the largest market share, as herbal ingredients are increasingly being incorporated into dietary supplements and medicines to enhance their effectiveness.

Growing Availability of Herbal Medicines in Tablet and Capsule Forms to Boost Market Expansion

Based on form, the market is categorized into powder, liquid & gel, and tablets & capsules. The tablets & capsules segment is expected to dominate, as these formats are widely preferred for herbal medicines due to their convenience and ease of consumption.

Geographically, the market spans North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

Report Coverage

This report provides an in-depth analysis of the market, covering essential aspects such as key product types, leading companies, and popular product forms. It also examines market segments, emerging trends, and significant industry developments while outlining the factors that have contributed to market growth in recent years.

Drivers and Restraints

Growing Integration of Herbal Ingredients in Cosmetic Products to Propel Market Growth

Herbal ingredient exporters in developing nations are increasingly targeting the cosmetics industry to expand their global footprint. Many cosmetics companies are shifting toward natural ingredients to meet the rising demand for herbal-based face, skin, and body care products. By replacing synthetic chemicals with herbal alternatives, these companies are enhancing product efficacy and appealing to a wider consumer base.

However, stringent regulations governing the use of herbal ingredients as raw materials may pose challenges to market expansion.

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Regional Insights

Europe’s Market Growth Fueled by Increasing Demand for Herbal-Based Cosmetics

Europe is projected to dominate the global herbal medicine market, driven by the region’s well-established cosmetics industry. This presents lucrative opportunities for emerging businesses specializing in herbal ingredient-based products. The increasing consumer preference for natural personal care and beauty solutions will further drive market expansion in the region.

North America is also expected to witness notable growth, supported by rising health consciousness and the growing consumption of dietary supplements.

Competitive Landscape

Leading Companies Focus on Strategic Partnerships and Product Innovation to Strengthen Market Presence

Key players such as ZeinPharma Germany GmbH, Cultivator Natural Products Pvt. Ltd., Blackmores Limited, Herbalife Nutrition, and others are implementing strategies like partnerships and new product launches to enhance sales and expand their global reach.

Key Companies Profiled in the Report

  • Cultivator Natural Products Pvt. Ltd. (India)
  • 21ST Century HealthCare, Inc. (U.S.)
  • Herbalife Nutrition (U.S.)
  • ZeinPharma Germany GmbH (Germany)
  • Blackmores Limited (Australia)
  • Himalaya Global Holdings Ltd. (India)
  • Nutraceutical Corporation (U.S.)
  • Emami Limited (India)
  • Nature’s Answer, LLC. (U.S.)
  • Patanjali Ayurved Limited (India)

Industry Developments

December 2022: Dabur expanded its Ayurvedic medicines portfolio with the launch of Ratnaprash Sugar-Free and Aampachak Kadha. Ratnaprash Sugar-Free is designed to enhance strength and stamina, while Aampachak Kadha supports digestive health with ingredients such as shunthi, bhumiamla, harad, and pippali.

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