Medicinal and Aromatic Plant Market Size - By Plant Type, Application, Product Form, Cultivation Method, Growth Forecast, 2025 - 2034

Medicinal & Aromatic Plant Market Size

The global medicinal & aromatic plant market size was valued at USD 410.3 billion in 2024, with expectations to reach USD 890.7 billion by 2034, growing at a CAGR of 8.1%.
 

The market is booming due to consumer awareness about natural and holistic treatments. Herbal medicines and dietary supplements along with essential oils are in increasing demand globally, displaying a shift toward organic and sustainable products.
 

Medicinal and aromatic plants have several roles in health care. These serve as primary ingredients in herbal medicine, traditional therapy, and phytopharmaceuticals for the treatments of inflammation, stress, and infections. These plants also serve as a primary source of essential oils meant for aromatherapy, cosmetics, and personal care products having a positive effect on mental well-being and skin health.
 

Their applications spread across many industries. In the pharmaceutical sector, they provide the raw materials for the manufacture of new drugs and herbal formulations. In the food and beverage industry, they are used primarily as flavoring agents and functional ingredients. On the other hand, the aromatic properties are into the cosmetic sector pertinent to the formulation of natural care products.
 

Besides, the market continues to be positively influenced by sustainable harvesting and organic cultivation; others include advances in extraction and processing technologies. In summary, the markets will continue to grow, and the major movers will be consumers' demand for those products based on natural and holistic health.
 

Medicinal & Aromatic Plant Market Trends

The medicinal and aromatic plant industry is undergoing dynamic growth driven by technological and product innovations, changing regulatory frameworks, and surging demand in the market. Biotechnology and cultivation innovations have improved the quality, yield, and medicinal properties of these plants, providing scope for innovations in their extraction and formulation process. Product innovations display the development of standardized herbal formulations, organic products, and value-added products such as extracts, oils, and supplements aimed at health-conscious consumers.
 

The regulatory environment may have become stricter, yet it is still much more conducive to growth for the industry as the governments have developed guidelines to ensure safety, quality, and sustainability. Demand is further fueled by the increasing popularity of herbal supplements, functional foods, and aromatherapy products.
 

Emerging markets in Asia, Africa, and Latin America offer great potential for growth due to traditional use and rising urbanization. The medicinal and aromatic plant sector is expected to witness tremendous growth, and this growth will be significantly influenced by technology, regulation, and consumption. In fact, this sector is an exciting niche of the greater natural products sector. 
 

Medicinal & Aromatic Plant Market Analysis

Based on plant type the medicinal & aromatic plant market is segmented into medicinal plants & aromatic plants. The medicinal plant accounted for 64.8% of the market share in 2024 and is expected to grow with the CAGR of 8% till 2034.
 

• Medicinal plants hold great importance in the global market due to their wide ranging traditional and modern applications in health systems. They are widely employed in varied pharmaceutical system applications, herbal supplements, as well as traditional medical systems like ayurveda, traditional Chinese medicine, and western herbal practices. Their efficacy or time-tested application to treat several ailments, including inflammation, infections, and chronic diseases, attracts higher demand.
   
• Essential oils, for which aromatic plants are chiefly valued, are used for imparting fragrance, but they also hold good therapeutic importance. Several other aromatic plants exhibiting therapeutic activities, like antimicrobial, anti-inflammatory, and calming effects, such as lavender, eucalyptus, and peppermint, are very much in demand in both medicinal and wellness products. This dual role of being aromatic and medicinal increases the market value of these plants, especially in aromatherapy, cosmetics, and natural remedies.

Based on application the medicinal & aromatic plant market is segmented into pharmaceutical industry, cosmetics and personal care, food and beverage industry, aromatherapy and wellness, agriculture and veterinary. Pharmaceutical industry holds the market size of USD 165.3 billion in 2024 and expected to grow at a faster rate of 8.4% CAGR up to 2034.
 

• The pharmaceutical industry, by virtue of its contribution to healthcare and disease management has become a key player in the global medicinal and aromatic plant market. It depends on a strong and continuing demand evolving for innovative medicines, vaccines, and therapies to counter the countless health conditions-from chronic distresses to contagious suffering.
   
• Cosmetic and persona care is also following up the medicinal and aromatic plant market as it is widely used in the formation of the herbal product for skin care, haircare and others. People nowadays prefer product which contain the herbal or ayurveda label. In food and beverage also, companies are utilizing these products in making the natural derived final goods as per the evolving demand of consumers.
   

Based on product form the medicinal & aromatic plant market is segmented into raw materials, extracts and concentrates, essential oils, finished products. Raw materials hold the market size of USD 185.6 billion in 2024 and expected to grow at a faster rate of 8.3% CAGR till 2034.
 

• Raw materials is relevant for the pharmaceutical and health industries, being the source from which all downstream products are developed. Medicines, nutraceuticals, and cosmetics are all dependent on raw materials like plant extracts, minerals, and chemicals of high quality.
   
• Extraction of essential oils is done usually by distillation or other extraction processes for their active healing and aromatic properties thus giving them an important place in the field of natural health.
   
• Finished products such as medicines, supplements, and personal care items rely on such raw material quality and availability. Stability and quality control of raw inputs in the supply chain directly influence the quality, safety, and market competitiveness of the final products, thus pointing out the most importance of raw materials in the industry.
   

Based on cultivation methods the medicinal & aromatic plant market is segmented into conventional cultivation, organic cultivation, wild harvesting, controlled environment agriculture. Conventional cultivation hold the market share of 34.8% in 2024 and expected to grow at a faster rate of 7.9% CAGR in 2034.
 

• Conventional cultivation holds a monopoly in both the medicinal and aromatic plant markets because of its established methods, high yields, and economics. This farming is large-scale, conducted with synthetic fertilizers, pesticides, and modern farming techniques to make the most productive bundles of raw materials to meet market demand for constant supply to industrial-level processing.

In the medicinal & aromatic plant market, U.S. accounts the major share in North America by accounting USD 82.3 billion in 2024 and is expected to grow at a CAGR of 6.3% in 2034.
 

• The U.S. is poised to play an upstream market role in North American medicinal and aromatic plant markets. The harvest to market supply supported by advanced infrastructure for cultivation processing, and distribution, ensures timely supply to the market with high-quality products. The other demand driver for medicinal and aromatic plants is increased awareness by consumers toward natural and herbal products. Aided by a strong regulatory framework on safety and quality, these plants build confidence among consumers.
   
• The presence of innumerable herbal supplement manufacturers and pharmaceutical companies contributes to market growth. The trend of organic and sustainable farming further boosts the U.S. dominance. Hence, these factors position the U.S. as a prominent player in the medicinal and aromatic plant sector of North America.
   

Medicinal & Aromatic Plant Market Share

Top 5 companies include Dabur India Limited, doTERRA International, Emami Limited, Forest Essential, Givaudan SA. These are prominent companies within the medicinal & aromatic plant industry operating in their respective regions. These companies hold strong positions globally due to their extensive experience in medicinal & aromatic plant market. Their diverse product portfolios, backed by robust production capabilities and distribution networks, enable them to meet the rising demand for Medicinal & aromatic plant across various regions.
 

Medicinal & Aromatic Plant Market Companies

Dabur India Limited: Dabur is amongst India's major companies in the consumer goods sector with a varied portfolio of herbal and ayurvedic products. It has been in the forefront of the medicinal and aromatic plant markets, backed by decades of research, strong distribution channels, and a trusted brand reputation. It offers essential oil and extracts of the aromatic and medicinal plants.
 

doTERRA International: doTERRA is the world's biggest player in essential oils and aromatic plant-based wellness products, and its competitive strength rests upon the quality of its ethically sourced essential oils and direct sales distribution model.
 

Emami Limited: Emami is an Indian conglomerate with a large portfolio of products, including herbal and ayurvedic personal care articles. Its strategic marketing and affordability make it the mass consumer's choice.
 

Forest Essentials: One of India's most luxurious ayurvedic skincare and wellness brands, Forest Essentials relies on traditional methods and organic ingredients. Its competitive lies in premium branding, authentic formulations, and sustainability. The brand attracts wealthy consumers seeking superior Ayurvedic aromatic products using high quality aromatic and medicinal plants.
 

Givaudan SA: Givaudan is a Swiss multinational company specializing in flavors and fragrances including aromatic plant extracts and essential oils. A strong factor contributing to its advantage in competition is Givaudan's wider global reach through in-depth R&D and highly innovative solutions. High Quality raw materials are provided by Givaudan to cosmetic, perfumery, and food industries, thus retaining its dominant position in the market.
 

Medicinal & Aromatic Plant Industry News:

• On December 2024, ITC Limited expanded its cultivation of medicinal and aromatic plants to support sustainable sourcing and meet growing demand. The initiative aims to boost rural livelihoods, promote biodiversity, and ensure high-quality raw materials for their herbal and natural products, aligning with their commitment to sustainable agriculture and organic farming practices. To promote this initiative, ITC has set up a 100-acre organic certified experimental and training farm in Sehore, Madhya Pradesh, where 13 medicinal and aromatic plants are studied for standardized farming practices. These include Tulsi, Ashwagandha, Mentha, Licorice, Moringa, and Kalonji, among others.
   

The medicinal & aromatic plant market research report includes an in-depth coverage of the industry with estimates and forecast in terms of revenue in USD Billion and (Tons) in volume from 2021 - 2034 for the following segments:

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Market, By Plant Type

• Medicinal plants
  • Adaptogenic plants
    • Ashwagandha (Withania somnifera)
    • Ginseng (Panax species)
    • Rhodiola (Rhodiola rosea) 
  • Anti-inflammatory plants
    • Turmeric (Curcuma longa)
    • Ginger (Zingiber officinale)
    • Boswellia (Boswellia serrata) 
  • Digestive health plants
    • Aloe Vera (Aloe barbadensis)
    • Peppermint (Mentha piperita)
    • Chamomile (Matricaria chamomilla) 
  • Respiratory health plants
    • Eucalyptus (Eucalyptus globulus)
    • Thyme (Thymus vulgaris)
    • Licorice (Glycyrrhiza glabra) 
  • Cardiovascular health plants 
  • Immune support plants 
  • Cognitive health plants 
• Aromaticplants
  • Essential oil plants
    • Lavender (Lavandula angustifolia)
    • Tea Tree (Melaleuca alternifolia)
    • Rosemary (Rosmarinus officinalis)
    • Oregano (Origanum vulgare) 
  • Fragrance plants
    • Rose (Rosa species)
    • Jasmine (Jasminum species)
    • Sandalwood (Santalum album) 
  • Culinary herbs
    • Basil (Ocimum basilicum)
    • Sage (Salvia officinalis)
    • Cinnamon (Cinnamomum species)

Market, By Product Form

• Raw materials
  • Fresh plants and herbs
  • Dried plants and powders
  • Plant parts (roots, leaves, flowers, seeds) 
• Extracts and concentrates
  • Standardized extracts
  • Liquid extracts and tinctures
  • Concentrated powders
  • Oleoresins and resins
• Essential oils
  • Pure essential oils
  • Blended essential oils
  • Organic essential oils
  • Therapeutic grade oils 
• Finished products
  • Capsules and tablets
  • Liquid formulations
  • Topical applications
  • Functional food products

Market, By Application

• Pharmaceutical industry
  • Drug development and manufacturing
  • Nutraceuticals and dietary supplements
  • Traditional medicine formulations
  • Clinical research and development
• Cosmetics and personal care
  • Skincare products
  • Hair care products
  • Fragrance and perfumery
  • Natural and organic cosmetics 
• Food and beverage industry
  • Functional foods and beverages
  • Natural flavoring agents
  • Food preservation and additives
  • Herbal teas and infusions 
• Aromatherapy and wellness
  • Essential oil therapy
  • Spa and wellness centers
  • Home aromatherapy products
  • Therapeutic applications 
• Agriculture and veterinary
  • Biopesticides and plant protection
  • Animal health and nutrition
  • Organic farming applications
  • Soil health and enhancement

Market, By Cultivation Method

• Conventional cultivation
  • Traditional farming methods
  • Commercial plantation systems
  • Integrated farming approaches
• Organic cultivation
  • Certified organic production
  • Biodynamic farming
  • Natural farming methods 
• Wild harvesting
  • Sustainable wild collection
  • Forest-based harvesting
  • Community-based collection 
• Controlled environment agriculture
  • Greenhouse cultivation
  • Hydroponic systems
  • Vertical farming applications
  • Tissue culture and micropropagation

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe 
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East & Africa