Demand and Supply Situation for Medicinal Plantsv

Abstract

From 2020 to 2015, it was predicted that the demand for medicinal plants in India will increase at an annual pace of between 17 and 23 percent to meet the needs of both domestic and international consumers. Small-scale farmers stand to gain financially and economically from a well-organized medicinal plant production and administration system. Ayurveda, Unani, and Siddha are the three main Indian medical traditions, and together they are expected to bring in more than $500 million annually. In 2015, the gap between demand and supply of MAPs was predicted to be between 50,000 and 250,000 tons. In 2020, this hole was predicted to grow from 250,000 to 500,000 metric tons. Modified accelerated production (MAP) industries provide labor opportunities in economically depressed states, raising the standard of living and tax base of the area.