Herbal Medicine Market Share

Herbal Medicine Market Share Analysis

The global herbal medicine market can be broken down into different types of medicinal plants, such as Marrubium vulgare, Vaccinium macrocarpon, Echinacea, Curcuma longa, Camellia sinensis, Actaea racemose, Aloe vera, Zingiber officinale, Cocos nucifera, Cinnamomum spp., Allium sativum, and others. In 2017, Marrubium vulgare had the largest market share at 11.42%, valued at USD 10,550.2 million. It is expected to grow at a rate of 6.46% during the forecast period. Vaccinium macrocarpon had a market value of USD 6,863.8 million in 2017, with a projected growth rate of 6.49%, while Echinacea accounted for USD 6,459.2 million with a forecasted growth rate of 6.20%.

In terms of the form of herbal medicine, it is categorized into extracts, powders, capsules and tablets, syrups, and others. Extracts held the largest market share at 36.9% in 2017, valued at USD 34,134.6 million. The forecast suggests a growth rate of 6.30%. Powders had a market value of USD 22,936.2 million in 2017, and it is expected to grow at a rate of 6.20%. Capsules and tablets accounted for USD 16,105.3 million, with a forecasted growth rate of 6.09%. Syrups were valued at USD 4,924.6 million, expected to grow at a rate of 5.87%. The 'others' category is projected to grow at a rate of 4.01%, with a market value of USD 14,280.4 million in 2017.

The source of herbal medicine is another segmentation, including leaves, root & barks, whole plant, fruit, and others. Leaves had the largest market share at 57.7% in 2017, with a market value of USD 51,495.2 million, and it is expected to grow at a rate of 6.30%. Root & barks accounted for USD 11,368.6 million in 2017, with a projected growth rate of 6.09%. The whole plant segment was valued at USD 9,524.3 million in 2017, with a forecasted growth rate of 6.21%.

Distribution channels play a crucial role in the herbal medicine market, with segments like hospital and retail pharmacies, E-Commerce, and others. Hospital and retail pharmacies had the largest market share at 55.8% in 2017, with a value of USD 51,568.0 million. The forecast indicates a growth rate of 5.98%. E-Commerce had a market value of USD 35,859.2 million in 2017, expected to grow at a rate of 5.89%. The 'others' segment accounted for USD 4,953.9 million in 2017, with a forecasted growth rate of 4.67%.

In summary, the global herbal medicine market is characterized by various medicinal plants, forms, sources, and distribution channels. Marrubium vulgare, extracts, leaves, and hospital and retail pharmacies are among the leading segments, driving the market's growth. The increasing popularity of herbal medicine is evident from the positive growth rates projected across different categories.