Indian herbal medicines have surpassed $2.5 billion in sales and revenue, according to a new report from the global data company Datawind.
The company says it’s the biggest single category of Indian herbal products and that Indian herbal companies have more than doubled their revenues since January 2016.
The data, which was released on Wednesday, comes after a report last year from data firm eMarketer that said Indian herbal brands accounted for over $10 billion in revenues in 2015.
The company says that the total value of Indian medicinal products sold in the country rose to $3.3 billion in the first quarter of this year, a rise of more than 100% year-on-year.
India is home to some of the world’s largest and most profitable herbal markets.
The country’s state-owned herbal drug makers are major players in the Indian market, but Datawend says that this year’s growth will likely slow due to the shortage of supply and competition from smaller brands.