Herbal/Traditional Products in the US - New Study Released

From: Fast Market Research, Inc.
Published: Mon May 11 2015

Although sales of herbal/traditional consumer health products are dominated by dietary supplements, which account for nearly three-quarters of sales, the herbal/traditional remedies category in the US is strong and growing. Herbal/traditional cough, cold and allergy remedies’ retail value sales rose by 7% in 2014, driven by medicated confectionery products, to reach US$593 million. Herbal/traditional topical analgesics and medicinal teas are also gaining traction, posting growth of 10% and 5% respectively. Consumers are drawn to these products as they perceive them as more natural and less harsh alternatives to standard OTC remedies. However, this is not the case for all categories, as consumers increasingly prefer the efficacy of products with active pharmaceutical ingredients in calming and sleeping and digestive remedies, whose herbal/traditional products posted declines of 7% and 4% respectively.

Full Report Details at
- http://www.fastmr.com/prod/993686_herbaltraditional_products_us.aspx?afid=301

Competitive Landscape

Mondelez International and Ricola AG are the leading producers of herbal/traditional products in the US, holding retail value shares of 8% and 3%, respectively, through their medicated confectionery products. This in part reflects the highly fragmented nature of the herbal/traditional dietary supplements environment. Halls by Mondelez International is the leading brand with retail sales of US$347 million in 2014, followed by Ricola with sales of US$138 million. However, these brands have a very different marketing approach. While Ricola actively markets the herbal quality of its medicated confectionery line, giving it an advantage among consumers actively pursuing a "natural" option, Halls emphasises its strong brand heritage and is not specifically identified as herbal/traditional. While both approaches have been effective in their own way, Ricola achieved greater growth in 2014 with an increase of 12%.

Industry Prospects

Throughout the forecast period retail value sales of herbal/traditional medicinal remedies (not including dietary supplements) is expected to grow by a CAGR of 2% to reach US$1.3 billion in 2019. Topical analgesics will continue to be a strong driver of growth. Greater consumer preference for targeted relief and pill fatigue among the growing elderly population, along with the increasing competitive edge of herbal/traditional options, will continue to support growth. Sales of herbal/traditional calming and sleeping products are expected to turn around to achieve growth of 2%. As marketing and sales of newly introduced standard products such as ZzzQuil begin to peak, more consumers are anticipated to try for the first time or return to using herbal/traditional sleep aids, which many consider to be safer and with fewer side effects.

Report Overview

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