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Herbals supplements continue to climb in sales

June 16, 2020

According to statistics from HerbalGram, herbal supplement sales have experienced the blooming volume since 1998.

 

The herbal market has experienced massive growth / ph: pexels@ready made

 

Recently, the American Botanical Council (Austin TX) has released a report on herbal supplements. The HerbalGram Herb Market Report pointed out that the supplement of herbal has grown significantly through years. The high growth of the herbal supplement market is driven by the sales of CBD, mushrooms and immune support products.

SPINS, a market research firm based in Chicago, and Nutrition Business Journal (NBJ), a co-based publication of the New Hope Network – an Informa media company, collected data about US herbal sales. The data indicated that herbs supplements sales increased by 9.4% in 2018 in comparison to the previous year. This statistic marks the historical development in herbal and natural supplements since 1998.

The three channels monitored by the NBJ, including mass market, direct sales and natural and health food, also witnessed enormous growth in sales, respectively 7.6%, 11.8% and 6.9%. 

According to the herbal supplements consumer reports of SPINS, Elderberry is one of the best-selling herbs in both the US mainstream multi-outlet and natural channel. Elderberry herbal or dietary supplements sales grew 138.4% ($50,979,669) in the mainstream channel and 93.9% ($25,374,666) in the natural channel. 

Another trendy herbal supplement called ashwagandha also increased dramatically on both mainstream channel and natural channel. It remained in the top ten selling herbs in the natural channel with high growth of 16.9%.

Cannabidiol was not in the list of top-selling herbs in the mainstream channel; however, in the natural channel, it is the herbal whose growth was the most extraordinary. Its sales growth was 332.8% to $52,708,488. And 2018 is not the only year when it witnesses its growth to exceed 300%. 2017 also experienced a significant increase in CBD sales of $7,583,438 in natural channel. If CBD can break into the mainstream market, it is expected to skyrocket.  However, the increasing pressure on the FDA by the industry and Congress has stopped it from happening.

Herbal supplement sales increase significantly, making herbal market an extremely potential one.

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