Austin, Texas, Sept. 12, 2024 (GLOBE NEWSWIRE) -- AUSTIN, Texas (September 12, 2024) — Annual retail sales of herbal dietary supplements in the United States totaled an estimated $15.551 billion in 2023, according to the nonprofit American Botanical Council’s (ABC’s) 2023 Herb Market Report.¹ US consumers spent an additional $533 million on these products in 2023 compared to 2022 — a 4.4% increase in annual sales.
ABC’s 2023 market report was published in the fall issue (#141) of HerbalGram, ABC’s quarterly, peer-reviewed journal and one of the benefits of ABC membership. The issue will be mailed to subscribers later this month.
The 2023 Herb Market Report is based on US retail sales data provided by SPINS, a wellness-focused data technology company based in Chicago, Illinois, and Nutrition Business Journal (NBJ), a publication of Informa/New Hope Natural Media based in Boulder, Colorado. It was written by Tyler Smith, managing editor of HerbalGram; Carly Lang, media relations manager at SPINS; and Erika Craft, market research analyst at NBJ.
The sales figures for individual herbs and fungi discussed in the Herb Market Report reflect sales of herbal dietary supplements in which the particular herbal or fungal substance (or derivative thereof) is the primary ingredient. The report does not include sales of most herbal teas, cosmetic products containing botanical ingredients, or government-approved botanical drug ingredients in over-the-counter medicines (e.g., senna as a stimulant laxative or slippery elm as a demulcent for sore throats).
NBJ based its total herbal supplement sales figures for 2023 on data from market research firms, company surveys, interviews with major retailers and industry experts, and other secondary materials. SPINS determined sales of herbal supplements in two retail channels: the mainstream channel (i.e., the multi-outlet channel powered by Circana [previously IRI]) and the natural channel (now called the “natural expanded” channel). SPINS’ mainstream channel includes select grocery stores, drug stores, and mass merchandisers such as club, dollar, and military stores. The natural channel includes co-ops, associations, independent retailers, and large regional chains (excluding Whole Foods Market and Trader Joe’s).
The 2023 Herb Market Report explores the ingredients with the top sales and strongest sales growth in both retail channels. In the mainstream channel, for the second consecutive year, the top-selling ingredient was psyllium, the seed and seek husk of which are commonly used in products marketed for cardiovascular and digestive health support. (Separately, psyllium is also sold as an FDA-approved bulk laxative, but those sales are not included in this report.) Among the 40 top-selling ingredients in the 2023 mainstream channel, beet root had the strongest sales growth of 108% from 2022. Six other ingredients on the top 40 list in this channel had sales increases greater than 20%, including several ingredients commonly used for cognitive health (e.g., ginkgo, bacopa, and oat). Only three ingredients had significant mainstream sales decreases in 2023: ivy leaf, elder berry, and cannabidiol (CBD, derived from hemp).
Turmeric ranked first in sales in the 2023 natural channel for the third year in a row. According to SPINS, pain/inflammation and joint health were the top-selling health focuses of turmeric products sold in this channel. Barberry had the top sales growth in the natural channel, with sales nearly doubling from the previous year. Sales of this herb likely benefited from the increased awareness and popularity of berberine, a naturally occurring alkaloid found in barberry and other plant species, which trended on some social media platforms in 2023 for its association with potential weight-loss benefits. Six other ingredients in the natural channel experienced notable sales increases in 2023, including certain fungi and algae supplements, and two ingredients had sales declines greater than 20%: quercetin and elder berry.
“After record-breaking sales of herbal supplements during the first two years of the COVID-19 pandemic and the first drop in sales in nearly a decade in 2022, the return to annual sales growth in 2023 is remarkable,” said Smith, who has been the lead author of ABC’s annual Herb Market Reports since 2014. “After years of pandemic-related fluctuations, several signs point to a market that is continuing to normalize, including increased consumer spending on products marketed for healthy aging and the ongoing sales decline for some ingredients commonly used for immune health. For a market segment that has seen annual sales growth for most years since at least 2000, a return to ‘normal’ is clearly a welcome development.”
“The growth of herbal dietary supplement sales in 2023 indicates US consumers’ continued interest in building and maintaining optimal health using plant- and fungi-based dietary supplements,” said Mark Blumenthal, founder and executive director of ABC. “With few exceptions, sales of herbal dietary supplements have been on a steady increase for the past 20 years, a trend that reflects a significant demographic movement, i.e., the growing commitment to natural health by millions of Americans.”
The 2023 Herb Market Report spans 15 pages in HerbalGram and features six main tables and one chart, including tables of total annual sales of herbal supplements in the United States from 2015 to 2021 and the 40 top-selling herbs in the US mainstream and natural retail channels. It also includes detailed descriptions of SPINS and NBJ market channels and tables of sales broken down by product type (single-herb supplements vs. combination formulas) and retail channel (mass market; natural, health food, and specialty; and direct sales).
HerbalGram’s 2023 Herb Market Report is available for free on ABC’s website.
Reference
- Smith T, Lang C, Craft E. US sales of herbal supplements increase 4.4% in 2023. HerbalGram. 2024;141:54–69. Available at: www.herbalgram.org/resources/herbalgram/issues/141/table-of-contents/hg141-hmr/. Accessed September 11, 2024.
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