According to the research report titled ‘Global Herbal Medicinal Products Market Size study, by Product type (Ayurvedic Medicines, Homeopathic Medicines, Chinese Medicines, Aromatherapy Products) by Form (Capsules/tablets, Powder, Syrups, Oils and Ointments, Other) by Distribution Channel(Hospital Pharmacies, Retail Pharmacies, Mail Order Pharmacies, E-commerce) and Regional Forecasts 2021-2027’, available with Market Study Report, global herbal medicinal products market size was worth USD 83.90 billion in 2020 and is expected to multiply at a CAGR of 5.5% over 2021-2027, subsequently amassing USD 121.9 billion by the end of the forecast period.
 

Global herbal medicinal products market growth is driven by growing presence of e-commerce platforms for simple access to ayurvedic therapies and nutrition, and improvements in laws and regulations to support herbal medicines. Increasing globalization of herbal medicinal goods and their adoption over traditional allopathy due to reduced side effects are boosting the industry growth.
 

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For the record, in September 2017, Dabur India teamed with Amazon India to launch an Ayurveda e-marketplace. Amazon intends to sell herbal goods from Shilajeet, Nutriherbs, Himalaya healing pure herbs ashwagandha, and Herbal Hills for the treatment of a variety of disorders, including digestive and respiratory problems, diabetes, and others, through this e-commerce platform. Similar developments will continue to enhance the business dynamics in this domian.
 

For the unversed, any medicinal product that primarily comprises one or more aromatic compounds, one or more natural products, or a mix of the two as active components is referred to as an herbal medicinal product.
 

Speaking of the negatives, decreasing use of herbal medicinal products in cases such as injuries, trauma, and others is likely to stifle the market demand.
 

Regionally, Europe currently holds considerable portion of global herbal medicinal products market share, creditable to presence of major industry players and their strategic acquisitions for a competitive advanatage.
 

North America is also expected to be the second largest market, owing to the increasing numbers acquisition and partnerships by manufacturers in regions.
 

Asia-Pacific, on the other hand, leads the overall industry growth in terms of volume primarily due to the rising development of non-traditional treatments and mounting demand for various essential oil-containing goods in emerging economies, with China and India as leaders in herbal treatments.
 

Key players in global herbal medicinal products market are Ricola Ltd., Young Living Essential Oils, Boiron Group, Integria Healthcare, Himalaya Global Holdings Ltd., Stada Arzneimittel AG, Nutraceutical Corporation, Arkopharma SA, Sanofi-Aventis Healthcare Pty Ltd., and Blackmores Ltd.