Global Horehound Market Report and Forecast 2024-2032

Global Horehound Market Outlook

The global horehound market is being driven by the horehound supplements market, which is expected to grow at a CAGR of 6.8% in the forecast period of 2024-2032.

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Thriving Pharmaceutical Industry in the Asia Pacific to Boost the Demand for Horehound

The Asia Pacific is expected to significantly contribute to the industry growth over the forecast period owing to the growing pharmaceutical sector in the region. India and China are the leading regions in the global pharmaceutical industry. Further, the prevalence of Ayurveda in India and its expanding reach across the globe is expected to drive the demand for horehound. Other factors like the easy availability of the product and growing consumer demand for herbal dietary supplements are also aiding the regional industry growth. Meanwhile, the growing shift towards herbal and plant-based products in developed regions like Europe and North America is expected to provide enhanced opportunities for the market expansion in the coming years.

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Horehound: Market Segmentation

Horehound, a perennial, aromatic herb of the mint family, is native to Europe and Asia and has been naturalised to other areas, including the United States. The plant is known for its medicinal properties and is widely used in the treatment of bronchitis, cough, motion sickness, and digestive problems, among others. Horehound has long been used in home remedies, where the leaves and flower tops of the plant are used to prepare bitter tonic to treat the common cold. The horehound's expectorant property makes it suitable for use in cough lozenges, syrups, and cold preparations. It is also being utilised as a flavouring agent in candies and beverages owing to its intense taste and flavour.

Based on nature, the market is bifurcated into:

• Organic
• Conventional

The various forms of the product available in the market include:

• Liquid
• Powder

Based on application, the industry can be categorised into:

• Flavouring Agent
• Pharmaceuticals
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Rising Demand for Plant Based and Botanical Products to Bolster the Growth of the Horehound Industry

The rising health awareness among consumers is resulting in the increased demand for natural products as they do not have any adverse effects on health, unlike synthetic products, which may cause various side effects. The growing consumer inclination towards herbal and organic supplements, coupled with the significant developments in nutraceutical industry, is propelling the growth of the horehound industry globally. Besides treating cough and bronchitis, the herb is also being used as an aid to relieve digestive problems and to stimulate the appetite. This is further supported by the increasing prevalence of obesity, digestive disorders, and other lifestyle-related diseases across the globe. Moreover, the growing use of horehound as a flavouring agent in the food and beverage industry is creating new market opportunities for the product. Over the forecast period, the growing R&D activities around horehound and advancements in the food and beverage industry is expected to have a positive effect on the expansion of the market.

Key Industry Players in the Global Horehound Market

The report gives a detailed analysis of the following key players in the global horehound market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Ricola Group AG
• The Great American Spice Co.
• Bickford Flavors
• Mountain Rose Herbs
• Herb Pharm, LLC
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report