The use of medicinal and aromatic plants has never been out of focus throughout history. Our time, on the other hand, is witnessing a different approach to their utilization. For the first time in history, they have become industrial products for world-wide use. New concepts, such as nutraceuticals, cosmeceuticals, phytotherapy, aromatherapy, etc. are widening their use and new applications in functional foods, animal husbandry and agricultural pest management are taking place. New clinical evidence is also emerging on the effectiveness of medicinal plant products. The appearance of increasing number of monographs on plant drugs in national and international pharmacopoeias is a good indication that legislative and regulatory authorities have a more positive view towards the increased use of medicinal and aromatic plants in conventional medicine. This paper will focus on the above aspects from a global point of view.