Increased demand for natural and herbal products in the recent past have led to an impressive growth of various medicinal herbs, pushing the research and developments in the medicinal herbs market. The medicinal herbs market is profoundly influenced by multiple properties and benefits served by these medicinal herbs, which is projected to drive the global medicinal herbs market through .
The shift in the demand from synthetic and conventional products to herbal products has further boosted the revenues in the medicinal herbs market. Various forms of medicinal herbs offered by the processors such as whole, powder, and liquids are likely to increase the overall sales of the medicinal herbs market across the globe.
The developing economies like China, India, various countries in Latin America are expected to create several remunerative opportunities for the medicinal herbs market. Various macro-economic factors were taken into consideration for analyzing the overall sales of the global medicinal herbs market. The rising cost of healthcare, increase in per capita disposable income, growth in the global GDP, are among the crucial factors.
The term medicinal herbs include a variety of plants having some of the medicinal properties. The medicinal herbs can be used as food, flavonoid, medicine as well as perfume and also in some spiritual activities. Medicinal herbs are widely used in non-industrialized societies, as these medicines are readily available and are more affordable when compared to modern medicines. More than 20,000 species of plants are covered under medicinal herbs across the globe.
Increased inclination towards the consumption of herbal medicines push the growth of the medicinal herbs market
Global medicinal herbs market is primarily driven by the increasing use of herbal medicines and herbal supplements across the globe. The increased inclination towards the consumption of herbal supplements due to the rising concerns related to an unhealthy lifestyle and eating habits has led to an increased requirement for the intake of health supplements predominantly made from herbs.
The medicinal practices have been shifting towards the treatment and experimentation of the use of medicinal plants, which leads to the discovery of a new herb which depicts the medicinal properties, thus boosting the global market for medicinal herbs. However, the rise in the consumers’ inclination towards the use of herbal products for cosmetics as well has increased the demand for the medicinal herbs by the cosmeceutical manufacturers.
These insights are based on a report on Medicinal Herbs Market by Fact.MR.