the herbal medicine market | Spain

1.1 Market definition and presentation

According to SeguiFarma , Herbal medicine is the science that studies the use of products of plant and natural origin for therapeutic purposes or for prevent, alleviate or cure a medical condition . This science has existed for over 5,000 years. Products in the herbal medicine market are sold in the form of herbal teas, liquids, powdered sachets or capsules. The herbal medicine market can therefore be defined as all sales of products containing plant extracts and natural active ingredients for medicinal purposes .

The herbal medicine market is structured around several players multi-skilled specialists , circuit board specialists , big names in nutrition and cosmetics pharmaceutical companies and finally leading laboratories . This situation implies a high competitive intensity, and a huge fragmentation of the distribution network, between very large and very small players

For the sector, one of the main challenges is now to succeed to take advantage of the growth of certain niches within the pharmaceutical industry and consequently to move away from the pejorative image of "grandmother's remedy" from which medicinal plants and all remedies related to naturopathy can suffer, in order to attracting patients and practitioners . The use of herbs is also related to a more preventive medicine, which tries to prevent the onset of symptoms and not to respond to symptoms once they have occurred.

From 2016 to 2019, the spanish production of aromatic, medicinal and condiment plants has increased steadily, with a growth rate of nearly 36% per year on average This is a sign of a great increase in the importance of this market.

Moreover, herbal medicine prides itself on being less toxic and less chemical than traditional medicines. According to Emprendedores Herbal medicine is enjoying a certain success in the minds of Spanish consumers in a global context of return to naturalness, well-being and organic products and healthier practices . This is in full response to the growing consumer demand for more transparent, healthier and less harmful products.