Herbal Supplements Win Scientific Validity

hands

Herbal Supplements Win Scientific Validity

　　
　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.

----------------------------------------------

miraculous hands

Posted: Wed Jun 01, 2005 8:54 pm