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Herbal Medicine Market to Reach USD 347.50 Billion by 2029; Kunnath Pharmaceuticals Introduces Viromune to Assist Indian Population with Immunity Tablets

July 29, 2022 | Food & Beverages

The global herbal medicine market size was USD 151.91 billion in 2021. The market is projected to grow from USD 165.66 billion in 2022 to USD 347.50 billion in 2029, exhibiting a CAGR of 11.16% during the forecast period 2022-2029.


This information is provided by Fortune Business Insights, in its report, titled, “Herbal Medicine Market Size, Share & COVID-19 Impact Analysis, By Application (Pharmaceutical & Nutraceutical, Food & Beverages, and Personal Care & Beauty Products), By Form (Powder, Liquid & Gel, and Tablets & Capsules), and Regional Forecast, 2022-2029.”  


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.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/herbal-medicine-market-106320


Great Demand for Natural Herbal Medicines from Emerging Nations to Support Market


Herbal medicines are a pivotal part of medical treatment in various emerging nations. Herbal products and organic preparations are utilized for nearly all minor disorders. In emerging as well as lower-income nations, appointments to expert doctors or certified pharmacists are typically uncommon and considered reserved for grave ailments. In emerging economies, herbs utilized for medicinal processes are unprocessed herbs --plants or plant parts, dried and utilized in complete or cut form. These factors are expected to boost the herbal medicine market growth during the forecast period.


Players Make Important Launches to Gain Major Market Share


The indispensable players adopt numerous strategies to bolster their position in the market as dominating companies. One such prime strategy is procuring companies to boost the brand value among users. Another vital strategy is periodically launching inventive products with a methodical study of the market and its target audience.


Notable Industry Development:



  • November 2020: Kunnath Pharmaceuticals, a producer of herbal products from India, introduced antiviral immunity booster tablets under the brand name 'Viromune' across India. Through this presentation, the company is expecting to attain a revenue of USD 266 million in the coming three years.


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












































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value (USD Billion)



Segmentation



By Application



  • Pharmaceutical & Nutraceutical

  • Food & Beverages

  • Personal Care & Beauty Products



By Form



  • Powder

  • Liquid & Gel

  • Tablets & Capsules



By Geography



  • North America (By Application, Form, and Country)

    • U.S. (By Application)

    • Canada (By Application)

    • Mexico (By Application)



  • Europe (By Application, Form, and Country)

    • France (By Application)

    • Spain (By Application)

    • U.K. (By Application)

    • Italy (By Application)

    • Germany (By Application)

    • Rest of Europe (By Application)



  • Asia Pacific (By Application, Form, and Country)

    • China (By Application)

    • India (By Application)

    • Japan (By Application)

    • South Korea (By Application)

    • Australia (By Application)

    • Rest of Asia Pacific (By Application)



  • South America (By Application, Form, and Country)

    • Argentina (By Application)

    • Brazil (By Application)

    • Rest of South America (By Application)



  • Middle East and Africa (By Application, Form, and Country)

    • UAE (By Application)

    • South Africa (By Application)

    • Rest of Middle East & Africa (By Application)




Global Herbal Medicine Market
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  • 2021
  • 2018-2020
  • 208

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