The North America Herbal Medicine Market would witness market growth of 7.7% CAGR during the forecast period (2023-2030).
Herbal medicines are naturally obtained from a plant's roots, stems, leaves, flowers, or seeds to improve health and treat illnesses. Some popular herbs include gingko, ginseng, ginger, turmeric, and chamomile. For years, local communities have used plant species as part of their culture and traditions to prepare medicines for human and animal diseases. Lifestyle changes significantly impact consumer health, causing a major shift in their medical needs. As individuals consume more processed food, they suffer from health complications, such as stress, obesity, and other serious ailments, such as cardiovascular problems. Therefore, consumers nowadays prefer these medicines over conventional ones to maintain or improve their health.
Moreover, the market has witnessed a remarkable resurgence in recent years, reflecting a growing consumer preference for natural and holistic approaches to healthcare. Herbal medicine, phytotherapy, or botanical medicine uses plant-based therapies to boost health and treat various ailments. This age-old practice, deeply rooted in traditional and indigenous healing systems, has evolved into a dynamic and burgeoning industry with many applications.
North America is culturally diverse, including a rich tapestry of traditional healing practices. According to the government of Canada, in 2022, the food and beverage processing industry was the biggest manufacturing sector in Canada in terms of the value of production, with sales of goods manufactured worth $156.5 billion; it accounted for 18.2% of total manufacturing sales and 1.7% of the national Gross Domestic Product (GDP). The food processing industry can collaborate with the market to develop herbal supplements in the form of fortified foods or food complements. This provides an alternative and accessible way for consumers to incorporate herbal remedies into their diets. Thus, the above aspects will expand the market growth across the region in the upcoming years.
The US market dominated the North America Herbal Medicine Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $67,851.1 million by 2030. The Canada market is experiencing a CAGR of 10.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 9.2% during (2023 - 2030).
Free Valuable Insights: The Herbal Medicine Market is Predict to reach $342 Billion by 2030, at a CAGR of 7.9%
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 U.S., Mexico, Canada, and Rest of North America.
List of Key Companies Profiled
- Herbalife nutrition Ltd.
- Blackmores Limited (Kirin Holdings Company, 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.
North America Herbal Medicine Market Report Segmentation
By Application
- Pharmaceutical & Nutraceutical
- Personal Care & Beauty Products
- Food & Beverages
By Form
- Tablets & Capsules
- Liquid & Gel
- Powder
By Country
- US
- Canada
- Mexico
- Rest of North America
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Herbal Medicine Market, by Application
1.4.2 North America Herbal Medicine Market, by Form
1.4.3 North America 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
3.2.1 Market Drivers
3.2.2 Market Restraints
3.3 Porter’s Five Forces Analysis
Chapter 4. Strategies Deployed in Herbal Medicine Market
Chapter 5. North America Herbal Medicine Market by Application
5.1 North America Pharmaceutical & Nutraceutical Market by Country
5.2 North America Personal Care & Beauty Products Market by Country
5.3 North America Food & Beverages Market by Country
Chapter 6. North America Herbal Medicine Market by Form
6.1 North America Tablets & Capsules Market by Country
6.2 North America Liquid & Gel Market by Country
6.3 North America Powder Market by Country
Chapter 7. North America Herbal Medicine Market by Country
7.1 US Herbal Medicine Market
7.1.1 US Herbal Medicine Market by Application
7.1.2 US Herbal Medicine Market by Form
7.2 Canada Herbal Medicine Market
7.2.1 Canada Herbal Medicine Market by Application
7.2.2 Canada Herbal Medicine Market by Form
7.3 Mexico Herbal Medicine Market
7.3.1 Mexico Herbal Medicine Market by Application
7.3.2 Mexico Herbal Medicine Market by Form
7.4 Rest of North America Herbal Medicine Market
7.4.1 Rest of North America Herbal Medicine Market by Application
7.4.2 Rest of North America Herbal Medicine Market by Form
Chapter 8. Company Profiles
8.1 Herbalife Nutrition Ltd.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional Analysis
8.1.4 Recent strategies and developments:
8.1.4.1 Partnerships, Collaborations, and Agreements:
8.1.4.2 Product Launches and Product Expansions:
8.1.5 SWOT Analysis
8.2 Blackmores Limited (Kirin Holdings Company, Limited)
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Recent strategies and developments:
8.2.4.1 Partnerships, Collaborations, and Agreements:
8.2.5 SWOT Analysis
8.3 Himalaya Global Holdings Ltd.
8.3.1 Company Overview
8.3.2 Recent strategies and developments:
8.3.2.1 Geographical Expansions:
8.3.3 SWOT Analysis
8.4 Nutraceutical Corporation
8.4.1 Company Overview
8.5 Patanjali Ayurved Limited
8.5.1 Company Overview
8.5.2 Recent strategies and developments:
8.5.2.1 Product Launches and Product Expansions:
8.5.3 SWOT Analysis
8.6 Genius Nature Herbs Private Limited
8.6.1 Company overview
8.7 Bio-Botanica, Inc.
8.7.1 Company Overview
8.8 21 ST Century HealthCare, Inc.
8.8.1 Company Overview
8.9 Emami Limited
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Segmental Analysis
8.9.4 Recent strategies and developments:
8.9.4.1 Product Launches and Product Expansions:
8.9.5 SWOT Analysis
8.10. Cultivator Natural Products Pvt. Ltd.
8.10.1 Company Overview
TABLE 1 North America Herbal Medicine Market, 2019 - 2022, USD Million
TABLE 2 North America Herbal Medicine Market, 2023 - 2030, USD Million
TABLE 3 North America Herbal Medicine Market by Application, 2019 - 2022, USD Million
TABLE 4 North America Herbal Medicine Market by Application, 2023 - 2030, USD Million
TABLE 5 North America Pharmaceutical & Nutraceutical Market by Country, 2019 - 2022, USD Million
TABLE 6 North America Pharmaceutical & Nutraceutical Market by Country, 2023 - 2030, USD Million
TABLE 7 North America Personal Care & Beauty Products Market by Country, 2019 - 2022, USD Million
TABLE 8 North America Personal Care & Beauty Products Market by Country, 2023 - 2030, USD Million
TABLE 9 North America Food & Beverages Market by Country, 2019 - 2022, USD Million
TABLE 10 North America Food & Beverages Market by Country, 2023 - 2030, USD Million
TABLE 11 North America Herbal Medicine Market by Form, 2019 - 2022, USD Million
TABLE 12 North America Herbal Medicine Market by Form, 2023 - 2030, USD Million
TABLE 13 North America Tablets & Capsules Market by Country, 2019 - 2022, USD Million
TABLE 14 North America Tablets & Capsules Market by Country, 2023 - 2030, USD Million
TABLE 15 North America Liquid & Gel Market by Country, 2019 - 2022, USD Million
TABLE 16 North America Liquid & Gel Market by Country, 2023 - 2030, USD Million
TABLE 17 North America Powder Market by Country, 2019 - 2022, USD Million
TABLE 18 North America Powder Market by Country, 2023 - 2030, USD Million
TABLE 19 North America Herbal Medicine Market by Country, 2019 - 2022, USD Million
TABLE 20 North America Herbal Medicine Market by Country, 2023 - 2030, USD Million
TABLE 21 US Herbal Medicine Market, 2019 - 2022, USD Million
TABLE 22 US Herbal Medicine Market, 2023 - 2030, USD Million
TABLE 23 US Herbal Medicine Market by Application, 2019 - 2022, USD Million
TABLE 24 US Herbal Medicine Market by Application, 2023 - 2030, USD Million
TABLE 25 US Herbal Medicine Market by Form, 2019 - 2022, USD Million
TABLE 26 US Herbal Medicine Market by Form, 2023 - 2030, USD Million
TABLE 27 Canada Herbal Medicine Market, 2019 - 2022, USD Million
TABLE 28 Canada Herbal Medicine Market, 2023 - 2030, USD Million
TABLE 29 Canada Herbal Medicine Market by Application, 2019 - 2022, USD Million
TABLE 30 Canada Herbal Medicine Market by Application, 2023 - 2030, USD Million
TABLE 31 Canada Herbal Medicine Market by Form, 2019 - 2022, USD Million
TABLE 32 Canada Herbal Medicine Market by Form, 2023 - 2030, USD Million
TABLE 33 Mexico Herbal Medicine Market, 2019 - 2022, USD Million
TABLE 34 Mexico Herbal Medicine Market, 2023 - 2030, USD Million
TABLE 35 Mexico Herbal Medicine Market by Application, 2019 - 2022, USD Million
TABLE 36 Mexico Herbal Medicine Market by Application, 2023 - 2030, USD Million
TABLE 37 Mexico Herbal Medicine Market by Form, 2019 - 2022, USD Million
TABLE 38 Mexico Herbal Medicine Market by Form, 2023 - 2030, USD Million
TABLE 39 Rest of North America Herbal Medicine Market, 2019 - 2022, USD Million
TABLE 40 Rest of North America Herbal Medicine Market, 2023 - 2030, USD Million
TABLE 41 Rest of North America Herbal Medicine Market by Application, 2019 - 2022, USD Million
TABLE 42 Rest of North America Herbal Medicine Market by Application, 2023 - 2030, USD Million
TABLE 43 Rest of North America Herbal Medicine Market by Form, 2019 - 2022, USD Million
TABLE 44 Rest of North America Herbal Medicine Market by Form, 2023 - 2030, USD Million
TABLE 45 Key Information – Herbalife nutrition Ltd.
TABLE 46 Key Information – Blackmores Limited
TABLE 47 Key Information – Himalaya Global Holdings Ltd.
TABLE 48 Key Information – Nutraceutical Corporation
TABLE 49 Key Information – Patanjali Ayurved Limited
TABLE 50 Key Information – Genius Nature Herbs Private Limited
TABLE 51 Key Information – Bio-Botanica, Inc.
TABLE 52 Key Information – 21ST Century HealthCare, Inc.
TABLE 53 Key Information – Emami Limited
TABLE 54 Key Information – Cultivator Natural Products Pvt. Ltd.
List of Figures
FIG 1 Methodology for the research
FIG 2 North America Herbal Medicine Market, 2019 - 2030, USD Million
FIG 3 Key Factors Impacting the Herbal Medicine Market
FIG 4 Porter’s Five Forces Analysis - Herbal Medicine Market
FIG 5 North America Herbal Medicine Market Share by Application, 2022
FIG 6 North America Herbal Medicine Market Share by Application, 2030
FIG 7 North America Herbal Medicine Market by Application, 2019 - 2030, USD Million
FIG 8 North America Herbal Medicine Market Share by Form, 2022
FIG 9 North America Herbal Medicine Market Share by Form, 2030
FIG 10 North America Herbal Medicine Market by Form, 2019 - 2030, USD Million
FIG 11 North America Herbal Medicine Market Share by Country, 2022
FIG 12 North America Herbal Medicine Market Share by Country, 2030
FIG 13 North America Herbal Medicine Market by Country, 2019 - 2030, USD Million
FIG 14 SWOT Analysis: Herbalife nutrition Ltd.
FIG 15 SWOT Analysis: Blackmores Limited
FIG 16 SWOT Analysis: Himalaya Global Holdings Ltd.
FIG 17 SWOT Analysis: Patanjali Ayurved Limited
FIG 18 SWOT Analysis: Emami Limited