Global Trends and Local Perspectives in Medicinal Plant Trade: Opportunities and Challenges for Emerging Markets
Abstract
The trade of medicinal plants is increasingly gaining importance in the global economy, becoming an integral part of the pharmaceutical, cosmetics, and food industries. In recent years, the public’s inclination toward a healthy lifestyle and the growing demand for organic and natural products have created new opportunities in this sector. This article analyzes global trends in the trade of medicinal plants and emerging markets, with a particular focus on Uzbekistan. Analyses conducted using the SWOT and PESTEL methods allowed for the identification of the sector’s strengths and weaknesses, as well as opportunities and threats arising from the external environment. The results indicate that to expand export potential, sustainable harvesting practices, organic certification, quality control in line with international standards, and the use of digital trade platforms are of significant importance. At the same time, overharvesting, habitat reduction, climate change, and bureaucratic obstacles pose serious risks to the sustainable development of the sector. In conclusion, by aligning global trends with local conditions, developing countries, including Uzbekistan, can achieve high economic efficiency and ecological sustainability in the medicinal plant market.
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