Umair Riaz1*, Shazia Iqbal2, Muhammad Irfan Sohail2, Tayyaba Samreen2, Muhammad Ashraf1, Fatima Akmal2, Ayesha Siddiqui3, Ijaz Ahmad4, Muhammad Naveed5, Naveed Iqbal Khan5 and Rao Masood Akhter6
ABSTRACT
The medicinal and aromatic plants (MAPs) are current hot topic in the industries for their products. MAPs used in various items like pharmaceutical industry, health care items, cosmetics, organic food items etc. MAPs are gaining global admire and most of the pharmaceutical companies filing patents on medicinal plants and their derivatives and about 40% newly approved drugs during last two decades are formulated from natural origin. Multitude of socio-economic factors influence economic values of medicinal plants both locally and at international level. The world trade in botanicals is US $ 32.702 billion and Asian botanical trade is for US $ 14.505 billion with 6.634 million tones and accounts for 44.35 per cent and 53.13 per cent of world trade in terms of value and volume, respectively. Following the leading role of China with 1.48% share in MAPs exports, India is second largest exporter of MAPS with 8.75% share in Asian trade of MAPs. Various biomass and leftover produced with these plants production, as the MAPs cultivation withstands a huge economic potential, but it has several limitations to adaptation as arable crops i.e. lower prices, non-availability of transit markets, underdeveloped cultivation technology, poor availability of cultivation resources and genetic materials and many more. Therefore, MAPs can be cultivated and adopted to various geographical landscapes if facilitated by governments especially in the rural areas of low-income Asian and African countries.
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June 2021
Vol. 34, Iss. 2, Pages 254-493
