Herbal Medicine Market Size to Reach USD 437 billion by 2032; Growing Demand for Natural Medicines from Developing Nations to Boost Market Expansion

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.

Fortune Business Insights™ displays this information in its latest report titled “Herbal Medicine Market Size, Share & Industry Analysis, By Form (Powder, Liquid & Gel, and Tablets & Capsules), By Application (Pharmaceutical & Nutraceutical, Food & Beverages, and Personal Care & Beauty Products), and Regional Forecast, 2025-2032”.

Herbal medicines are witnessing strong demand across developed and developing countries as they are widely known to improve physical and mental health. These medicines are typically made from a plant’s stems, leaves, flowers, or roots to enhance a person’s immunity or treat their medical conditions. The growing consumption of processed and pre-made foods by the urban population has increased the prevalence of chronic ailments, such as obesity, diabetes, and cardiovascular diseases in recent years. This aspect is expected to accelerate the herbal medicine market growth.

Amplified Health Obstacles amid COVID-19 Pandemic Aided Market

The COVID-19 virus was declared as a global pandemic by the World Health Organization (WHO) in March 2020. The coronavirus had prime influences on the health and pharmaceutical sectors, which may overcome in the short and long-term period. There are both, short as well as long-term negative effects on R&D and manufacturing processes as well as termination in projects/programs that are not linked with the core supply chain/data administration operations. In Asian nations where herbs are effortlessly accessible, consumers moved their emphasis to raw herbs as well as regionally produced medicines to rise immunity. Medicines and dietary supplements containing coriander, herbal tea, turmeric, cumin, and garlic as their important substituent were sold expansively bearing in mind the benefit they provide to avoid the spread of COVID-19

Health Supplements Startup Fitday Announces to Unveil 50 Stores by 2023

Fitday, a Hyderabad-grounded health supplements startup, declared plans to present 50 brick-and-mortar stores by 2023 across India, riding on an enhancement in health alertness among the population as the coronavirus pandemic spreads with full intensity.

The omni-channel startup is involved in selling vitamins, immunity boosters, minerals, sports nutrition products, and Ayurvedic herbs through its three in-person shops in Hyderabad and its website. Its parent firm Genomelabs manufactures the dietary supplements, Fitday. Which is also engaged in selling other brands such as Isopure, Nestle, and Optimum Nutrition.

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Dabur Enhances Ayurvedic Medicine Portfolio with New Health-Boosting Products

In December 2022, Dabur expanded its Ayurvedic medicines range with two new products: Ratnaprash Sugar-Free, designed to enhance health, strength, and stamina, and Aampachak Kadha, formulated to strengthen the digestive system, containing beneficial herbs such as shunthi, bhumiamla, harad, and pippali.

Growing Demand for Natural Medicines from Developing Nations to Boost Market Expansion

Herbal medicines have long been a crucial part of the medical systems of developing countries. Since lower-income and developing economies do not have a proper access to high-quality medical care, patients use herbal medicines to cure minor ailments. Visits to doctors or pharmacists are quite rare and reserved for chronic disorders. These countries also have limited rules and regulations with respect to the sale and consumption of these medicines, which can offer many growth opportunities for this market.

Leading Market Players to Implement Key Corporate Strategies to Gain Competitive Edge

Some of the top players in the global market are Herbalife Nutrition, ZeinPharma Germany GmbH, Cultivator Natural Products Pvt. Ltd., Blackmores Limited, and many others. These organizations are focusing on increasing their presence in the global market by signing partnership agreements with the local suppliers and distributors of a specific region or country. They are also launching novel products to expand their customer base.

Notable Industry Development:

• December 2021 – UAE-based Globalpharma, a wholly owned subsidiary of Dubai Investments, launched its first herbal medicine MG21. It is an anti-inflammatory medicine that consists of herbs, such as Myrrh and Costus, which are used for treating and preventing respiratory infections, indigestion, skin infections, and other ailments.

List of Key Players Mentioned 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)

Further Report Findings

Europe holds the largest herbal medicine market share as it has the biggest cosmetic industry in the world and is expected to present good opportunities for new entrants in the market from developing countries. Demand for natural ingredients used in the personal care and beauty products segment is growing simultaneously and this trend is expected to continue.

By application, the pharmaceutical & nutraceutical segment holds the largest market share. This is attributed to the high demand for herbal raw materials from dietary supplement manufacturers and the alternative medicines industry.

Table of Segmentation