The Indian Medicinal Plant extract market is expected to grow at a CAGR of around 17% during the forecasted period of 2017-2022, says RNCOS in its Indian Medicinal Plant Extract report.
Indian medicinal plant extract industry has been witnessing significant growth in the recent years due to the recent upsurge in use of herbal medicines and cosmetics. Medicinal Plants are highly esteemed all over the world as a rich source of therapeutic agents for the prevention of diseases and ailments and hence cultivation of medicinal plants especially high value medicinal plants is creating new dimension in the field of Agriculture.
According to the latest research report by RNCOS (leading industry research and consultancy firm), "Indian Medicinal Plant Extract Market Outlook 2022", herbal market is expected to grow in the coming years because factors like shift in trend from synthetic to herbal medicine, herbal products gaining popularity in developing and developed countries owing to its natural origin and lesser side effects, key investments and expansion in Indian herbal extract sector.
Herbal Plants has been one of the major elements for traditional system of medicines. There has been significant shift in consumers preferences towards natural products which are made of medicinal plant extracts because of the alarming side effects caused by the synthetic drugs which has led many drug manufactures to use more and more of plant extracts for the manufacturing of the medicinal products for curing infectious diseases.
Government initiatives are also driving the industry as government is emphasizing on the conservation of natural resources by formulating various acts for the conservation and protection of forests containing medicinal plants and cultivation of medicinal species along with establishment of medicinal plants processing zones. Hence due to rekindling in the demand for traditional medicines globally, there seem to be huge potential in this sector and India having a diversified biodiversity has a tremendous potential and advantage in this emerging area.
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