Homeopathic and Herbal Remedies - US - March 2013
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“Though sales of homeopathic and herbal remedies continue to increase, the market is up against several challenges. This includes low awareness among consumers, limited product availability, and consumer perception of safety and efficacy.”
– Emily Krol, Health and Wellness Analyst
Some questions answered in this report include:
The market for homeopathic and herbal remedies continues to grow, and is estimated to increase 2.6% from 2011-12. Due to increased healthcare costs and lack of insurance, more consumers are being proactive about their health and wellness. This, paired with the fact that consumers are using more organic and natural products, could help fuel the growth of herbal and homeopathic remedies. Furthermore, product recalls of various OTC nonprescription medications likely has consumers looking for what they perceive to be as safer alternatives.
This report will present sales data for herbal and homeopathic remedy products, with Mintel’s expert analysis explaining fluctuations. Consumer usage and attitudes toward homeopathic and herbal remedies are assessed to garner marketing recommendations. Demographic differences regarding how people use homeopathic remedies is also presented. Additionally, the reader will gain an understanding of what ailments consumers use homeopathic and herbal remedies to treat. Finally, where consumers get information about remedies and interest level in alternative remedy formats is included.
It is difficult to define the market of homeopathic and herbal remedies, as the definition is broad, and the market is constantly changing. This report will cover herbal and homeopathic remedies that treat a variety of ailments and/or are used for preventative measures. Herbal remedies are an alternative form of treatment made solely from parts of whole plants (e.g., leaves, bark, or roots), in contrast to conventional modern medicines that extract and concentrate specific constituents. A large number of herbal remedies are available as supplements, and are not regulated as medicines.
Homeopathic remedies stimulate the body’s natural powers of defense and recovery by using a substance that causes symptoms of a disease in healthy people to cure the same disease in sick people. It is based on the idea that the body can heal itself. Typical ingredients include diluted doses of a substance of animal, vegetable, or mineral origin.
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