EMERGING MARKET FOR HERBAL EXTRACT Recent article:

The global herbal supplements and remedies market is forecast to reach $107 billion by the year 2017, spurred by growing aging population and increasing consumer awareness about general health and well being, according to a new report from Global Industry Analysts. Additionally, the fact that herbal supplements and remedies cause little or no side effects and provide greater efficacy is also proving to be a major factor aiding market growth. The global herbal supplements and remedies market exhibited robust growth over the last decade, with little or no significant decline on account of the recent economic recession. The factors that fueled growth in the market include widespread acceptance of functional foods, rise in consumer confidence to include herbs in preventive health and alternative medicine regimens, supplier innovations, and the much awaited release of Current Good Manufacturing Practices (CGMP) for dietary supplements by FDA. The global market, in fact, exhibited steady growth during the crisis-ridden period of 2008-2009 and beyond. The importance of healthy diet and good lifestyle dominated the minds of consumers, which could not be dampened even by the financial meltdown witnessed in almost every sector worldwide. In fact, the recession has actually prompted increased preference for dietary supplements. Escalating prices, tighter budgets and high healthcare and lifestyle costs, have actually driven consumers towards the more economical, healthier and safer option of alternative medicine and dietary supplements, to get relief from physical and mental disorders. Presently, the market for herbal supplements varies by region based on factors such as consumer awareness, product availability, and forms of delivery, product acceptance, and regional regulations. In the US and Europe, herbal medicines represent a major share of the pharmaceutical market and are included in the regular medical practice. However, the market is highly regulated and extremely difficult to enter, as companies need to pass through rigorous tests before mass production. In countries such as France, Germany, UK and India, herbal supplements along with pharmaceuticals, are sold in drugstores. Europe is the largest region for herbal supplements and remedies, as stated by the new market research report on Herbal Supplements and Remedies, accounting for the largest share of the world market. Asia-Pacific and Japan make up the other important markets for herbal supplements on a global basis. In terms of growth rate, the AsiaPacific market, led largely by China and India is set to pave the way with the highest CAGR of 10.5% through 2017. In terms of the product segments, Multi-Herbs dominates as the largest segment, capturing a significant share of the overall herbal supplements and remedies market worldwide. The segment is also forecast to race ahead of the other markets at the fastest compounded growth rate of 9.15% over the analysis period. Soy and Specialty Herbs are also expected to display strong growth potential in future. Women, particularly in the middle-aged bracket, form the major consumer group owing to rising healthconsciousness, increased concern for diet, and enhanced attention towards preventive healthcare. Over the years, several manufacturers of herbal supplements have emerged with various alternative therapies to relieve women from widely seen problems such as menopause, insomnia and hot flashes. Baby boomers represent another major consumer group for herbal supplements and remedies.

A major trend engulfing the marketplace is the rising demand for natural health and food supplements. Fish oils, herbal supplements and other natural offerings such as probiotic acidohiplus and detoxes are emerging as alternatives to conventional synthetic supplements. There is also a substantial increase in the sale of food supplements, despite the slow economy, as large numbers of consumers perceive food supplements as an anti-medicinal, low-cost alternative to lead a healthy life style. Food supplements including omega-3s, herbal extracts, multivitamins, probiotics, chondroitin and glucosamine experienced healthy growth rates despite the economic downturn. Another major trend observed in the market is a shift from single ingredient market to multiple ingredient-based medications for a particular condition. There is also an increased demand for herbal and botanical products in multi formula and combo packed format, as well as for chewable capsules and tablets.

AFRICA:
Africa is the world's second-largest and second-most-populous continent. Togo Sierra Leone Senegal Nigeria Niger Mauritania Mali Liberia Guinea-Bissau Guinea Ghana Gambia Cte dIvoire Burkina Faso Benin Swaziland South Africa Namibia Lesotho Botswana Gabon Democratic Republic of the Congo Republic of the Congo Chad Central African Republic Cameroon Angola Zimbabwe Zambia Uganda Tanzania South Sudan Rwanda Mozambique Mauritius Malawi Madagascar Kenya Burundi Somalia Ethiopia Eritrea Tunisia Sudan Morocco Melilla (Spain) Madeira (Portugal) Libya Egypt Canary Islands (Spain) Algeria 0 100,000,000 200,000,000 Population: 1,032,532,974

Chart: Country-wise population comparison.

ASIA & OCEANA:

Population of Asia: 4,164,252,000 Population of Oceana: 37.8 million (2010)

Tonga Samoa Hawaii (United States) French Polynesia (France) Guam (United States) Federated States of Micronesia Vanuatu Solomon Islands Papua New Guinea New Caledonia (France) Fiji New Zealand Australia 0 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000

Chart: Country-wise population comparison.

In many economically developed Asian countries, such as China, Japan, Thailand and South Korea, herbal medicines continue to be widely used even though allopathic medicines and high quality modern healthcare facilities are now readily available there. In Japan, 60-70 per cent of allopathic doctors prescribe 'kampo' medicines {composed mainly of herbal medicines) for their patients. In Malaysia, traditional forms of Malay, Chinese, and Indian medicines (prepared mainly with herbs and herbal products) are used extensively. In China, herbal medicines account for around 40 per cent of all healthcare delivered, and are used to treat roughly 200 million patients annually. Use of herbal medicines has also expanded globally and gained popularity during the last decade. WHO Regional Office for the Americas (AMRO/PAHO) reports that 71per cent of the population in Chile and 40 per cent of the population in Colombia use herbal medicines. In many developed countries, certain Complementary and Alternative (CAM) therapies (a broad set of health care practices (which use mainly herbal medicines) that are not part of the country's own tradition and are not integrated into the dominant health care system) are very popular. Various government and non-government reports state that the percentage of the population that has used CAM is 46per cent in Australia, 49 per cent in France and 70 per cent in Canada.

Yemen Vietnam Uzbekistan United Arab Emirates Turkmenistan Turkey Thailand Tajikistan Taiwan (ROC) Syria South Korea Sri Lanka Singapore Saudi Arabia Russia Qatar Philippines Palestine Pakistan Oman North Korea Nepal Mongolia Maldives Malaysia Lebanon Laos Kyrgyzstan Kuwait Kazakhstan Jordan Japan Israel Iraq Iran Indonesia Georgia East Timor Cyprus 0 100,000,000 200,000,000 300,000,000

Chart: Country-wise population comparison of Asia.

United Arab Nation:

Umm al-Quwain Sharjah Ras al-Khaimah Fujairah Dubai Ajman Abu Dhabi 0 500,000 1,000,000 1,500,000 2,000,000

Conclusion:
As per above data exporting herbal extract to developed countries like Europe, United States of America is difficult because of their regulation as well as the Indian competitors like Vico, Himalaya, Dabur, Vaidyanath, Patanjali etc. are stronger. Therefore initially we have to concentrate on C shape belt (From China - Myanmar - Thailand Malaysia Singapore South Africa UAE - Africa) and then developed countries.

Bibliography:

http://www.nutraceuticalsworld.com/contents/view_breaking-news/2012-03-07/global-herbal-supplement-market-to-reach-107-billion-by2017/#sthash.soE6ukh1.dpuf

http://www.pharmabiz.com/ArticleDetails.aspx?aid=78355&sid=21 http://www.who.int/en/

Made by: Shrund V Kalse. (MBA, B. Pharm) Contact: shrund@gmail.com +91 8976 885 855.