The global herbal medicine market Revenue was valued at USD 233.08 billion in 2024. It is anticipated to grow from USD 251.25 billion in 2025 to USD 437 billion by 2032, with a compound annual growth rate (CAGR) of 8.23% throughout the forecast period. In 2024, Europe led the market with a 44.55% share. Additionally, the U.S. herbal medicine market is expected to experience robust growth, projected to reach approximately USD 37.90 billion by 2032, driven by increased health awareness and a growing preference for natural care solutions influenced by environmental considerations.
Herbal medicines are derived from plant parts such as roots, stems, leaves, flowers, or seeds, and are used to promote wellness and treat health conditions. Commonly used herbs include ginkgo, ginseng, ginger, turmeric, and chamomile. Traditional communities have long relied on various plant species for both human and veterinary medicine as part of their cultural practices.
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List of Prominent Companies Featured in the Report:
Segmentation
Pharmaceutical & Nutraceutical Segment Fuels Market Expansion
The pharmaceutical and nutraceutical sector holds a dominant position in the herbal medicine market, supported by the rising need for herbal ingredients in dietary supplements and alternative medical treatments.
Tablets & Capsules Segment Plays a Leading Role in Growth