Herbal/traditional products is expected to see steady growth in demand over the forecast period, as a growing number of consumers show an interest in alternative remedies to cure long-term and short-term health issues. This trend will be particularly evident for herbal/traditional sleep aids and herbal/traditional analgesics, which are areas where standard options are perceived to carry potential side effects, especially if used over a prolonged period.
During the forecast period, herbal/traditional sleep aids will register a particularly strong performance, primarily due to the increasing prevalence of sleep disorders within the local population. While fears surrounding COVID-19 fears have largely subsided, New Zealanders are being faced with fresh sources of anxiety, from the rising cost of living to Russia’s war in Ukraine.
The Therapeutic Products Act 2023, introduced in November 2022, was officially passed into law in July 2023, marking a substantial overhaul of the regulatory framework for natural health products in New Zealand. The Act replaces the long-standing Medicines Act 1981 and reclassifies natural health products, which are defined as items containing ingredients such as vitamins, minerals, plant or animal extracts, and micro-organisms like probiotics, as therapeutic products.
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Understand the latest market trends and future growth opportunities for the Herbal/Traditional Products industry in New Zealand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Herbal/Traditional Products
Botanicals or traditional remedies are products that have a long tradition of use, decades of established reputation, and are considered alternative remedies to standard medicine. Traditional medicine remedies such as Ayurveda, Traditional Chinese Medicine (TCM), Unani, Kampo, etc. are included. Homeopathic remedies are excluded. Only packaged products are tracked.
See All of Our DefinitionsThis report originates from Passport, our Herbal/Traditional Products research and analysis database.
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