Towards a unified strategy for the economic development of indigenous ethnobotanical in the GMS via a global market review and best practice analysis

• Main Author: Darbyshire, Dominic
• Format: text
• Published: Animo Repository 2012
• Subjects: Ethnobotany; Herb industry; Herbs; Consumer behavior; Market surveys; Agricultural and Resource Economics; Marketing
• Online Access: https://animorepository.dlsu.edu.ph/faculty_research/5432
• Institution: De La Salle University

Ethnobotanicals represent a major commercial resource for many countries. Thailand and the GMS contain a large number of ethnobotanicals which represent a substantial underutilized resource. A review of the current status of the global herbal market, including current value and trends, will establish the resource potential. To understand successful country strategies an analysis of the development of the ethnobotanical market is provided; via an historic overview of the combined economic and research strategies applied by India to maximize the value of their plant exports in a sustainable manner. A case study of a single ethnobotanical (Rooibos) will indicate current best practice in developing a fully integrated plan to create a sustainable resource and instigate an overseas market. An insight of consumer behavior towards a preference for natural or ‘green’ products. A review of the current herbal market in Thailand and selected examples of ethnobotanicals form the GMS will indicate the overarching potential. The objective of sustainable economic development in the GMS proposed through a strategy informed by a synthesis of the review and best practice examples.