APAC Herbal Medicine Market Research Report‚ÄĒForecast till 2032

APAC Herbal Medicine Market Research Report Information By Type (Tablets & Capsules, Powders, Extracts, and Others), By Application (Western Herbalism, Traditional Chinese Medicine, and Others) ‚Äď and APAC Market Forecast Till 2032

ID: MRFR/HC/11127-HCR | 128 Pages | Author: Rahul Gotadki | March 2024         

APAC Herbal Medicine Market Overview


APAC Herbal Medicine Market Size was valued at USD 16.2 Billion in 2022. The herbal medicine market industry is projected to grow from USD 17.62 Billion in 2023 to USD 34.607 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.80% during the forecast period (2023 - 2032). The growing population's desire for using traditional medicine is one of the major market driver propelling the market's growth over the forecast period.


APAC Herbal Medicine Market Overview


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Herbal Medicine Market Trends



  • Increased Herbal Dietary Supplement Consumption is Driving the Market Growth


Over the past ten years, there has been a rise in the use of complementary and alternative antibiotics, such as herbal remedies. Healthcare providers and patients alike are becoming more and more interested in herbal products. The WHO reports that between 10 and 50 percent of people in affluent nations frequently use herbal products in one way or another. Herbal products are typically used since they have a stronger immune system than synthetic medications. Furthermore, herbal medications might occasionally be the only accessible and reasonably priced form of treatment in developing nations like Bangladesh, China, Japan, India, and Vietnam. Moreover, most common reasons why people choose these medications include cough and cold, anxiety, gastrointestinal disorders, and painful ailments like stiffness, rheumatic diseases, and joint pain. It is anticipated that the market will see significant expansion prospects as a result of the current trend of using herbal medicines.


In many underdeveloped nations, herbal remedies play a critical role in medical care. Nearly all mild diseases are treated with herbal remedies and natural preparations. Usually limited to life-threatening conditions, trips to qualified physicians or prescription pharmacists are uncommon in developing and lower-income nations. Furthermore, unprocessed plants or plant parts that have been dried and utilized whole or chopped are the herbs used medicinally in poor nations. For internal usage, herbs are made as teas (and occasionally as pills or capsules); for external application, they are prepared as salves and poultices. The growing sector in developing countries is anticipated to prove to be one of the key drivers for the business, since most of these countries have very little regulation regarding the use of herbs as medicines. Thus, driving the herbal medicine market revenue.


Herbal Medicine Market Segment Insights:


Herbal Medicine Type Insights


The APAC Herbal Medicine market segmentation, based on type includes Tablets & Capsules, Powders, Extracts, and Others. The tablets & capsules segment dominated the market mostly. In addition to the quantity of prescriptions stated, the medications are supplied as tablets and capsules, and the use of these forms of delivery is rising. Herbal products are also becoming more and more common in the pharmaceutical sector. The tablet and capsule market category is anticipated to maintain its dominance due to these factors.


Figure 1: APAC Herbal Medicine Market, by Type, 2022 & 2032 (USD Billion)


APAC Herbal Medicine Market, by Type, 2022 & 2032


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Herbal Medicine Application Insights


The APAC Herbal Medicine market segmentation, based on application, includes Western Herbalism, Traditional Chinese Medicine, and Others. The traditional chinese medicine category generated the most income. It contains a range of traditional Chinese and other East Asian herbal treatments and treatment techniques that have been used for generations. TCM includes many different types of treatments, including cupping therapy, acupuncture, herbal medicine, and more. TCM is well-liked and extensively utilized in the APAC area due to its all-encompassing approach to health and potency in treating a wide range of conditions.


Herbal Medicine Regional Insights


The APAC Herbal Medicine market is growing rapidly over the forecast period. Customers are more keen to utilize natural and herbal items as they become more aware of the long-term advantages of doing so and as they use the internet more frequently. The market is now being dominated by China. China's market domination has been fueled by the existence of market leaders as well as rising personal health awareness. India is anticipated to expand at the quickest rate because of the country's rising adoption rate and rising consumer awareness of health-related issues. Furthermore, the expansion in these markets has been maintained by rising disposable income in developing nations like China, India, Brazil, and Southeast Asia.


Figure 2: APAC HERBAL MEDICINE MARKET SHARE BY REGION 2022 (USD Billion)


APAC HERBAL MEDICINE MARKET SHARE BY REGION 2022


Source: Secondary Research, Primary Research, MRFR Database and Analyst Review


Herbal Medicine Key Market Players & Competitive Insights


Leading market players are investing heavily in research and development in order to expand their product lines, which will help the herbal medicine market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their  footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, herbal medicine industry must offer cost-effective items.


Key Companies in the herbal medicine market include



  • Schwabe

  • Nature‚Äôs Bounty

  • Bionorica

  • Arkopharma

  • Blackmores

  • Tsumura

  • Arizona Natural

  • Nelsons

  • Bio-Botanica

  • Sanjiu

  • Herbal Africa

  • Yunnan Baiyao

  • Tasly

  • Zand

  • Tongrentang

  • SIDO MUNCUL


Herbal Medicine Market Segmentation


Herbal Medicine Type Outlook



  • Tablets & Capsules

  • Powders

  • Extracts

  • Others


Herbal Medicine Application Outlook



  • Western Herbalism

  • Traditional Chinese Medicine

  • Others


Herbal Medicine Regional Outlook



  • Asia-Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

  • Australia

  • Rest of Asia-Pacific

Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 16.2 Billion
Market Size 2023 USD 17.62 Billion
Market Size 2032 USD 34.607 Billion
Compound Annual Growth Rate (CAGR) 8.80% (2023-2032)
Base Year 2022
Market Forecast Period 2023-2032
Historical Data 2018- 2022
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application, and Region
Region Covered APAC
Countries Covered China, Japan, India, Australia, South Korea
Key Companies Profiled Schwabe, Nature’s Bounty, Bionorica, Arkopharma, Blackmores, Tsumura, Arizona Natural, Nelsons, Bio-Botanica, Sanjiu, Herbal Africa, Yunnan Baiyao, Tasly. Zand, Tongrentang, and SIDO MUNCUL
Key Market Opportunities ·       Large pharmaceutical companies are increasingly strategically entering the market to offer expansion potential
Key Market Dynamics ·       Growing use of herbal dietary supplements is fueling market expansion ·       Inclination for natural and herbal items will drive the demand for herbal medications.




Frequently Asked Questions (FAQ) :

The APAC Herbal Medicine market size was valued at USD 16.2 Billion in 2022.

The market is projected to grow at a CAGR of 8.80% during the forecast period, 2023-2032.

The key players in the market are Schwabe, Nature’s Bounty, Bionorica, Arkopharma, Blackmores, Tsumura, Arizona Natural, Nelsons, Bio-Botanica, Sanjiu, Herbal Africa, Yunnan Baiyao, Tasly. Zand, Tongrentang, and SIDO MUNCUL.

The Traditional Chinese Medicine category dominated the market in 2022.

The tablets & capsules category had the largest share in the market.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players‚Äô financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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