Dublin, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The "Asia Pacific Herbal Medicine Market Size, Share & Trends Analysis Report By Application (Pharmaceutical & Nutraceutical, Personal Care & Beauty Products, and Food & Beverages), By Form, By Country and Growth Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific Herbal Medicine Market is forecast to witness market growth of 8.4% CAGR during the forecast period 2023-2030.
Herbal medicine finds its roots in ancient healing traditions across the globe. Traditional treatment systems, such as Ayurveda in India, Traditional Chinese Medicine (TCM), and Native American herbalism, have long relied on plant-derived remedies to restore balance and alleviate illnesses. The pharmaceutical industry has increasingly recognized the therapeutic potential of herbal compounds. Active ingredients extracted from medicinal plants are being incorporated into pharmaceutical formulations, leading to the development of these medicines that meet modern regulatory standards. This integration has expanded the scope of these medicine in treating various conditions, from common ailments to chronic diseases.
Herbal extracts and botanicals are integral to the booming nutraceutical and dietary supplement industry. Consumers seeking natural alternatives for maintaining wellness and preventing health issues take herbal supplements. These products often combine traditional wisdom with scientific research to offer a holistic approach to health and well-being. The cosmetic and personal care industry has witnessed a surge in herbal formulations. Plant-derived ingredients are prized for their skincare benefits, including anti-aging, moisturizing, and anti-inflammatory properties. Herbal extracts, essential oils, and botanicals are increasingly featured in various skincare and beauty products.
Asia Pacific has a rich heritage of traditional medicine systems, including Ayurveda, Traditional Chinese Medicine (TCM), Kampo, and traditional healing practices from various cultures. according to the International Trade Administration, biopharmaceuticals account for approximately 15% of drug sales in Japan, whereas biopharmaceutical sales account for approximately 30% of all pharmaceutical sales globally. Biopharmaceutical companies in Japan can engage in research to explore the therapeutic potential of herbal compounds. This research can lead to identifying bioactive molecules in herbs that may have applications in biopharmaceutical drug development. Therefore, the factors mentioned above will propel the market growth in this region.
The Chinese market dominated the Asia Pacific Herbal Medicine Market by Country in 2022, and is set to continue to be a dominant market till 2030; thereby, achieving a market value of $31,382.8 million by 2030. The Japanese market is registering a CAGR of 7.7% during 2023-2030. Additionally, the Indian market is forecast to showcase a CAGR of 9% during 2023-2030.
Based on Application, the market is segmented into Pharmaceutical & Nutraceutical, Personal Care & Beauty Products, and Food & Beverages. Based on Form, the market is segmented into Tablets & Capsules, Liquid & Gel, and Powder. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
- Herbalife Nutrition Ltd.
- Blackmores Limited
- Himalaya Global Holdings Ltd.
- Nutraceutical Corporation
- Patanjali Ayurved Limited
- Genius Nature Herbs Private Limited
- Bio-Botanica, Inc.
- 21ST Century HealthCare, Inc.
- Emami Limited
- Cultivator Natural Products Pvt. Ltd.
Market Report Segmentation
By Application
- Pharmaceutical & Nutraceutical
- Personal Care & Beauty Products
- Food & Beverages
By Form
- Tablets & Capsules
- Liquid & Gel
- Powder
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Key Topics Covered:
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Asia Pacific Herbal Medicine Market, by Application
1.4.2 Asia Pacific Herbal Medicine Market, by Form
1.4.3 Asia Pacific Herbal Medicine Market, by Country
1.5 Methodology for the research
Chapter 2. Market At a Glance
2.1 Key Highlights
Chapter 3. Market Overview
3.1 Introduction
3.1.1 Overview
3.1.1.1 Market Composition and Scenario
3.2 Key Factors Impacting the Market
3.3 Porter's Five Forces Analysis
Chapter 4. Strategies Deployed in Herbal Medicine Market
Chapter 5. Asia Pacific Herbal Medicine Market by Application
5.1 Asia Pacific Pharmaceutical & Nutraceutical Market by Country
5.2 Asia Pacific Personal Care & Beauty Products Market by Country
5.3 Asia Pacific Food & Beverages Market by Country
Chapter 6. Asia Pacific Herbal Medicine Market by Form
6.1 Asia Pacific Tablets & Capsules Market by Country
6.2 Asia Pacific Liquid & Gel Market by Country
6.3 Asia Pacific Powder Market by Country
Chapter 7. Asia Pacific Herbal Medicine Market by Country
7.1 China Herbal Medicine Market
7.2 Japan Herbal Medicine Market
7.3 India Herbal Medicine Market
7.4 South Korea Herbal Medicine Market
7.5 Singapore Herbal Medicine Market
7.6 Malaysia Herbal Medicine Market
7.7 Rest of Asia Pacific Herbal Medicine Market
Chapter 8. Company Profiles
- Herbalife Nutrition
- Blackmores Limited
- Himalaya Global Holdings Ltd.
- Nutraceutical Corporation
- Patanjali Ayurved Limited
- Genius Nature Herbs Private Limited
- Bio-Botanica, Inc.
- 21ST Century HealthCare, Inc.
- Emami Limited
- Cultivator Natural Products Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/js6shm
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