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Growth and market trends for herbal products in the United States
The market for herbal dietary supplements in the United States in 2009 has exceeded US$5 billion according to recent market data.1 Despite the economic downturn around the world in 2009 and decreases in sales of most classes of consumer goods, sales of herbal dietary supplements increased over 14% and almost 5%, respectively, in both mainstream stores (e.g., drugstores, grocery stores, and other mainstream retail outlets) and in health food stores, with sales in all channels of trade increasing 4.8%. Sales for herbs with a significant amount of clinical research – e.g., as those sold and licensed as phytomedicines in the EU – continued to be listed in the rankings of the „top 20“ in sales, demonstrating the continued correlation between clinical research and market success. Sales for herbs with known immunomodulating properties increased significantly, probably due to consumer concerns over the spread of the H1N1 virus. Market experience in the United States often portends future trends in other countries. This presentation will also focus on specific popular herbs and possible reasons for their market success.
References: 1. Cavaliere, C. et al. (2010) HerbalGram. 86:62–65.