It’s a good time to be a marketer of botanical and herbal dietary supplements, as data shows.
American consumers are increasingly embracing natural products. In September, HerbalGramthe journal of the nonprofit American Botanical Council (ABC)revealed in a market report that 2013 retail sales of herbal and botanical dietary supplements rose 7.9 percent to USD $6.032 billion, marking the 10th consecutive year that sales grew in the United States.
Herbs and botanicals achieved their biggest year of growth since the late 1990s, according to the 2013 market statistics, which were calculated by Nutrition Business Journal, and excluded sales of herbal teas, cosmetic products, and over the counter (OTC) and prescription medications. Herb retail sales decreased in 2002 and 2003 before increasing in 2004 for what would mark the first of 10 consecutive years of growth, according to the market report.
“Consumers continue to express strong demand for a wide variety of herbs, phytomedicines and other plant-based ingredients for their many health benefits," Mark Blumenthal, HerbalGram editor-in-chief and ABC founder and executive director, said in a statement. “Over the past decade even during the major economic downturn retail sales statistics demonstrate the increasing level of interest and confidence that American consumers place in the herbal sector of the dietary supplement market."
The forecast underscores that botanicals are increasingly appealing to consumers around the world and perhaps proof enough of their efficacy in promoting health.
Read the full article, “For Entire Decade, U.S. Botanicals Market Grew," in the latest Botanicals Digital Issue.