How are the pharmaceutical and supplement giants in the herbal products business shaping growth? Has their domination become the principal competitive force, or will the regulatory and scientific climate be the prime shaper of this dynamic young industry? This Packaged Facts report covers the $4 billion U.S. herbal products industry and its players. You will learn how changing demographics, external market influences, product and ingredient standardization, and crossover into mass-market retail channels are moving the industry into uncharted directions.
Scope And Methodology
This report covers herbal supplements used for nutritional or medicinal pur-poses
and sold at retail primarily through health and natural product stores, mass mer-chandisers,
drugstores, supermarkets, direct selling, and mail order. It also covers
herbal teas, if they are sold for medicinal uses. This report does not cover herbal
products sold at the institutional or professional health-care level or bulk herbs.
The report does not cover vitamins; minerals; supplements derived from non-plant
sources such as shark cartilage or red yeast; nutraceuticals or functional foods;
culinary herbs sold as ingredients; homeopathic or aromatherapy products; nor most
sports nutritionals. Note, however, that sports products with a significant competitive
overlap in the herbal market, such as ginseng, are covered by this report.
The information contained in this report was obtained from both primary and
secondary research. Primary research entailed in-depth, on-site examinations of
health and natural product stores, drugstores, mass merchandisers, and supermarkets.
Company, distributor, and retailer interviews were conducted to obtain information
on market size and growth, marketing programs, and new products.
Secondary research entailed data gathering from relevant sources, including
consumer and industry publications, newspapers, government and financial reports,
company literature, and corporate annual reports. Because a large share of herbal
supplement sales occurs in health and natural product stores, which are not monitored
by tracking services, retail sales of herbal products can only be estimated. For this
sector, Packaged Facts has relied on data published by trade magazines such as Natu-ral
Foods Merchandiser, OTC Update, Whole Foods, and Nutrition Business Journal
and company interviews. For the mass-market sector, Packaged Facts used data from
Information Resources, Inc. (IRI) and trade publications. The analysis of consumer
demographics is derived from Simmons Market Research Bureau data for fall 2000.
New York, June 6/PRNewswire –- MarketResearch.com, the premier business intelligence marketplace, announced the release of a new report, “The U.S. Herbal Supplement Market,” published by Packaged Facts. According to the study, herbal care has gained popularity and validity in recent years as herbs have been deemed a medically legitimate form of treatment and prevention. As the regulatory environment has opened up, pharmaceutical manufacturers have identified the herbal supplement market as a growing industry with a high potential for profit, and are now vying for market space against the established supplement brands. Scientific validation has also had an impact upon consumer demand. Americans concerned about aging, an inadequate diet, and a medical system that may fail them at some time in the future, have embraced preventive self-care which may lead to longer, healthier lives.
“The growth of the aging population of the United States will have a direct influence on the herbal care market,” said Richard Koulbanis, VP of Publishing for MarketResearch.com. “Products that address conditions associated with aging, as well as those that support gender specific health concerns, will continue to be of interest to consumers, and the industry will benefit from general shifts in demographics and attitudes.”
Top selling herbs in the nation include ginkgo biloba and ginseng, with a 16.7% and 10.5% market share, respectively. Garlic was the third most popular with a 10.4% market share, followed by echinacea, at 9.9%. The herbal supplement industry is up overall from $1.7 billion in 1996 and sales grew in double-digits until peaking at $2.6 billion in 1998, while sales grew at a compound annual growth rate of 8.2% from 1996 to 2000. The retail market for herbal supplements will near $2.7 billion by 2005, a compound annual growth rate from 2000 to 2005 of 3.6%. Annual growth will increase from a projected flat rate from 2000 to 2001 to 5% by 2005. The compound annual growth rate for the period 1996 to 2005 is projected to be 5.6%. Health and natural product stores accounted for 50.1% of herbal product sales in 2000, up 11.3 percentage points from 38.8% in 1996. In 2000 mass merchandisers retained their place as the second-largest outlet for herbal products, with a 10.4% share of market; drugstores followed with a 10.3% share, and food stores held 6.2% of sales. Direct sales accounted for 17.6% of market share, and mail order/Internet had a 5.4% share in 2000.
MarketResearch.com is the leading provider of global marketing intelligence products and services. With over 40,000 research publications from more than 350 top consulting and advisory firms, we offer instant online access to the world’s most extensive database of expert insights on global industries, companies, products and trends. Updated daily. For more information, call Alison Williams at 212.807.2649 or visit www.MarketResearch.com.
You know the herbal supplements market is growing.
But do you know what it is becoming?
In the past four years the market for herbal supplements in the U.S. has experienced radical growth, with annual sales totaling up to $4 billion. As the regulatory environment changes and herbs become a widely accepted form of self care, this market will continue to provide a wealth of opportunity to those who are able to accurately follow the trends and developments in the industry. The U.S. Herbal Supplements Market a new report from Packaged Facts now available through MarketResearch.com, covers the latest industry developments in product development, the regulatory environment, advertising and promotion trends, consumer attitudes, demographics, and sales information that are necessary to succeed in this explosive market.
Use The U.S. Herbal Supplements Market to find out how:
Pharmaceutical giants are realizing the market potential of herbal supplements and cashing in.
The regulatory environment is shaping the market for herbal supplements.
Successful companies are harnessing the market’s growth in all the right ways.
The age-obsessed baby boomer generation is increasingly turning to herbal treatments to slow the effects of aging and promote a healthier lifestyle.
Scientific studies proving the efficacy of herbal care will boost the acceptance of herbs, both as a legitimate treatment for ailments and for preventive care.
The report also provides detailed industry information on many categories, including:
Representing over 600 hours of research, analysis and execution, The U.S. Herbal Supplements Market is compiled from both primary and secondary data such as:
Company, government and industry research
Consultations with industry experts
MarketResearch.com gives you the tools you need to identify strategic opportunities for your company and stay ahead of the competition. With this substantial insight into your current and projected market, you have the necessary information to formulate on-target business plans, execute the right creative for advertising, and budget resources properly.
At MarketResearch.com, we provide critical information to key decision-makers in the herbal supplement industry. Visit our site at www.MarketResearch.com today to purchase any report as a complete study, or buy discrete segments using the options below:
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