U.S Retail sales of Homeopathic and Herbal Remedies estimated to reach $5.4 billion
Report provides the in-depth analysis of homeopathic and herbal treatments and deals with some of the issues faced by consumers and the market.
Albany, New York, November 17, 2016: A latest report titled, “Homeopathic and Herbal Remedies-US- November 2016” has been added to the vast archive of research reports on Market Research Hub (MRH). This research from Mintel, estimates U.S. retail sales of homeopathic and herbal remedies to reach $6.4 billion during the forecast period of 2016 to 2021, and says that it has also witnessed a growth rate of 16% in the past five years.
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The report begins with a brief overview of the homeopathic and herbal treatments and deals with some of the issues faced by consumers and the market. Ageing population in U.S. is a factor that leads to higher sales of herbal and homeopathic products, homeopathy, being an effective system of healing that assists the body’s natural tendency to heal itself. People are preferring Homeopathy and herbal remedies for curing diseases, healing wounds, and even treating emotional and mental disorders (in almost every culture). Herbs and other plants have also been used to fight off cancer, treat depression, reduce anxiety, and fight off cold and flu symptoms, amongst many others.
Herbs have been used in medicine from several years as they serve as the most accurate choice especially for families with children; since, many OTC (over the counter) treatments are unsafe for children below the age of two. According to a health analyst at Mintel, use of traditional OTC remedies is truly a holistic approach to health.
In the next section of the report, it has been observed that more people are becoming proactive about their health in the US, and further growth in sales is fueled by availability of the herbal products at mass retailers. In fact, 30% of the respondents who suffered from an illness within the previous year claimed to have used homeopathic or herbal medicines to treat it. Mintel has forecasted a continuous growth in the sales of this sector for the upcoming years, as US consumers are gradually seeking products that are natural and organic.
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The report further explores the market size in the U.S and assesses historic and projected sales performance of herbal products. It also features a detailed analysis of the reasons to purchase herbal and homeopathic remedies.
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Nov 16, 2016