Botanical drug market faces 9.2% annual growth forecast

Persistence Market Research forecast the global botanical and plant-derived drugs market at $114.1 billion by 2032, from $61.6 billion in 2025, in a press release published Oct. 15.

That projection would add $52.5 billion over seven years, an 85% increase from 2025, according to Atlas360 calculations based on the figures in the release. Persistence Market Research put the compound annual growth rate, a yearly average growth measure, at 9.2% for 2025 to 2032.

The firm said demand spans pharmaceuticals, nutraceuticals, cosmetics, food and beverage, and animal health applications. It put herbal plants at about 70% of the market in 2025 and pharmaceuticals at about 60% of revenue.

North America held about 39% of global share in 2025, according to the release. Capsules accounted for about 35% of product-form revenue, while liquid extracts were described as the fastest-growing form.

For Europe, the release said market development depends on pharmaceutical quality expectations, botanical ingredient assessment and demand for standardised formulations. Suppliers seeking wider distribution need documentation, suitable product classification and reliable manufacturing controls, according to the release.

The report also carried cautions. Persistence Market Research said botanical inputs can vary by geography, climate, cultivation practice and harvesting conditions, increasing testing needs. It also said regulatory differences across countries can add documentation costs and slow commercialisation.

The release said companies covered in the report include Bayer AG, Bristol-Myers Squibb, Sanofi S.A., Novartis AG, GlaxoSmithKline plc, Johnson & Johnson, Abbott Laboratories, Pfizer Inc., Phytopharm Ltd. and Boehringer Ingelheim International GmbH.

Source: Press release, Persistence Market Research via OpenPR, Oct. 15, 2026