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Herbal Supplements Market

This article was originally published in The Tan Sheet

Executive Summary

U.S. retail sales of herbal supplements could approach $6 bil. in 2006, up from $4.1 bil. in 2000 and $2.8 bil. in 1996, a compound annual growth rate of 6%, Datamonitor forecasts in a consumer trends analysis released Aug. 6. The markets for herbal supplements, vitamins and minerals, and OTC drugs all benefit from consumers' growing concerns about health, reflected in an increased interest in self-medication and adoption of health regimens. Datamonitor notes that "functional health" products, such as nutraceuticals, have "substantially outperformed the level of overall market growth and this trend is expected to continue," with annual U.S. retail sales projected to reach about $3.5 bil. in 2007. Additional factors driving consumer spending include convenience, age complexity (children acting older, adults acting younger), individualism, and sensory appeal, according to the 1"Global Consumer Trends" report. Details and purchasing information are available by contacting 800-759-0261 or 2d.peterson@elsevier.com...
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