Herbal/Traditional Products in the US - New Market Study Published

From: Fast Market Research, Inc.
Published: Wed Jan 20 2016

Herbal/traditional products showed steady growth over the years, with current value sales rising at a CAGR of 4% over the 2010-2015 review period. Rising awareness of some botanicals’ long tradition of use in other cultures as well as growing demand for effective and natural alternatives in consumer health products supported the growth of herbal/traditional products in the US. Although the US has the largest consumer health market, herbal/traditional products held a relatively small market share in the country, as it accounted for only 7% of total consumer health retail value sales in 2015. The market size of US (US$4.6 billion) is more than half the market size of herbal/traditional products in China (US$10.8 billion).

Competitive Landscape

Herbal/traditional products is a fragmented and diverse market, as no companies held more than an 8% value share. Cadbury Adams USA (Mondelez International), Procter & Gamble and Ricola remained the leading players of herbal/traditional products in the US, holding retail value shares of 8% 3% and 3%, respectively. Cadbury Adams and Ricola’s strength is through their medicated confectionery products. Halls by Cadbury Adams USA is the leading brand with retail sales of US$369 million in 2015, followed by Ricola with sales of US$140 million. However, these brands have a very different marketing approach. Whilst Ricola actively markets the herbal quality of its medicated confectionery line, giving it an advantage amongst consumers actively pursuing a "natural" option, Halls emphasises its strong brand heritage and is not specifically identified as herbal/traditional. Both approaches have been effective in their own way, as both achieved great growth in 2015.

Full Report Details at
- http://www.fastmr.com/prod/1110503_herbaltraditional_products_us.aspx?afid=301

Industry Prospects

More consumers are looking for healthier and more natural ingredients, and this trend will likely continue over the forecast period. Because of this, manufacturers will continue to strengthen in launching products that are made of plant-based ingredients. For example, the finalists for the Editor’s Choice Award at SupplySide West 2014 health ingredient exposition, Passionflower Herbal Supplement from Twinlab’s Alvita (tracked under herbal/traditional sleeping aids), Taki Mai From South Pacific Elixirs Inc, Serenum from Lisan and ZemBright Mood Plus from Healthy Directions feature plant-sourced ingredients, ranging from the relatively common to trendier ingredients like Kava and Zembrin (an extract from the southern African Sceletium tortuosum, an herbaceous bush commonly referred to as Kanna). Unique amongst the formulations was Lisan’s Serenum, which features an extract of Justicia pectoralis, which has a long tradition of use in Latin America, but is a newcomer to the US market.

Report Overview

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