ECONOMIC EFFICIENCY OF THE PRODUCTION OF MEDICINAL PLANTS AND PROSPECTS OF HERB BUSINESS
Abstract
Because of a worse ecological condition of the planet, more and more people become inclined to choose a healthy way of life, medicinal plants can help them in it and different products are made on their basis. More and more entrepreneurs are interested in growing medicinal plants necessary for pharmaceutical industry, cosmetology, food industry, hospitality industry and other areas of activity. Growing medical plants should be considered as a market element, because they are characterized by a steady and stable product sale. Plants are a source for obtaining different medicinal substances, they are a product of everyday demand. In the period of the coronavirus crisis there has been an increase in the demand for plants-immunostimulants, more than 30 % of all medicinal preparations are obtained from plant-based raw materials. Medical value of a medicinal plant is determined by the availability of particular chemical substances in its tissues that have a physiological effect on a human body. Production of medicinal plants does not meet the increasing demand for them, therefore growing medicinal plants is a profitable niche for business in the agrarian sector. The purpose of the research is to analyze efficient production of medicinal plants as a profitable entrepreneurial product in the agrarian business. In order to achieve the purpose, we set and performed the following tasks: to examine the current state and problems of the development of growing medicinal plants in Ukraine; to determine the essence and content of the market of medical plant-based raw materials; to offer recommendations for efficient activity of the industry. The study analyzes the current state of growing medicinal plants in Ukraine. It establishes a number of factors that, on the one hand, stimulate producers to develop medicinal plant agribusiness (a high level of profitability), on the other hand, restrain the development of the market of medicinal plant-based raw materials in Ukraine (expensive seed material, special methods and equipment for drying, manual labor).
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