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Sales of Organic Medicinal Herbs Market to Grow 4.7X by 2030
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The Medicinal Herbs Market is set to grow 4.7X by 2030, driven by demand for organic and liquid herbs in personal care and health supplements.
Medicinal Herbs Market research study provides an extensive information of important participants, such as suppliers, manufacturers, distributors, traders, consumers, investors, etc. Medicinal Herbs Market study depicts an in-depth analysis on the current status of Medicinal Herbs Market that consists of important types, and end uses. The data type of the Medicinal Herbs Market study contains market revenue, import, export, progress rate, consumption, etc. Further, the study focuses on the prominent and emerging regional and global trends contributing to the growth of the global Medicinal Herbs Market over the stipulated timeframe.
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In March 2020, a significant market demand for traditional medicine was noticed, when a Traditional Chinese Medicine (TCM) hospital suggested the use of herbs to combat coronavirus. AVA, co-owner of Medimix, a herbal soap brand, which was once limited to budgeted hotels and railways has witnessed an unprecedented upswing in demand, especially for liquid hand wash which has grown nearly by 25%. The nutraceutical producers, DSM have been continuously working to produce vitamin C to counter market demand across world and has nearly supplied 50 tonnes of vitamin C products to Hubei province, during the February lockdown.
Liquid Medicinal Herbs Are Expected to Have Higher Growth Opportunities Owing To Rising Demand for Personal Care
Europe is considered to be the hub for personal care and beauty products owing to the presence of a large number of manufacturers. In Europe, nearly ½ of the medicinal herbs demanded were in liquid form owing to higher profit margins and convenience associated with liquid products.
Liquid form has high demand from consumers and manufactures of personal care products owing to its feasibility. Owing to the impact of COVID-19, liquid medicinal herbs are expected to grow 3X during the forecast period.
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Key Takeaways of Medicinal Herb Market
Key Players Are Focusing On Expansion through Acquisition to Retain Market Share
The key players like Falcon Trading International, Sunrise Nutrachem Group co. ltd. and Starwest Botanicals are presently focusing on expansion through strategic acquisitions. However, the new entrants have fragmented the market by focusing on several medicinal herbs rather than providing multiple products.
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This has helped players to retain their share in market. Some emerging brands are focusing on use of medicinal herbs in food and beverages sector. For instance, in 2019 Pukka herb launched three variants of herbal latte, while in 2020, Typhoo India launched three variants of herbal tea.
Read More Trending and Similar Reports from Fact.MR – https://www.globenewswire.com/en/news-release/2020/03/24/2005575/0/en/Sales-of-Food-Thickening-Agents-Soar-Steadily-in-Line-with-Upsurge-in-Demand-from-Bakery-Confectionary-Industry-Says-Fact-MR-in-a-New-Study.html
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The article discusses the projected growth of the Medicinal Herbs Market by 2030.
Growth is driven by increased demand for organic and liquid medicinal herbs, especially in personal care.
Europe is leading, with significant growth expected in South Asia and China.
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