Herbal/Traditional Products in the US

PROSPECTS

Consumers are increasingly looking for natural products

Demand for more natural vitamins and dietary supplements continues to grow in tandem with consumers looking for more natural self-care options that are also locally sourced, non-GMO, organic, vegan, and vegetarian-friendly. Whilst Gen Z and millennials are driving this demand and prioritising clean label options, there is also a growing ageing population which is investing more in herbal/traditional dietary supplements for prevention and to avoid additional healthcare costs.

Opportunities for plant-based herbal/traditional dietary supplements

The rise of plant-based and flexitarian diets, the growing cruelty-free movement and the increasing number of consumers trying to avoid animal products opens up the opportunity for growth in plant-based herbal/traditional dietary supplements. These products enjoy the perception of being healthier than animal- and chemical-based products, as well as being less environmentally damaging and more likely to fit into a lifestyle that prioritises healthy eating, improved sleep and herbal/traditional approaches to stress management and relaxation.

Multipurpose products are in demand

Players are constantly analysing the benefits of different types of herbs, with new ones being discovered in many different regions of the world. This is leading to the launch of new products featuring combinations of herbs to tackle different issues.

COMPETITIVE LANDSCAPE

High fragmentation in herbal/traditional products

Like many other consumer health categories, herbal/traditional products remained highly fragmented in 2018, with no player holding a double-digit value share. The leading brands include Halls, Ricola, Luden’s, Metamucil and Benefiber.

Brand extensions and new players

Towards the end of the review period, Mondelez International launched a new Soothers variant under its Halls brand for the winter season in eucalyptus and menthol flavour with a liquid centre. Ricola, meanwhile, launched Ricola Herbal Immunity, drops that contain ginseng extract, as well as vitamins B6, B12 and C, and claim to help boost the immune system.

Consumers enjoy multipurpose products

Herbalife International, a well-known player in herbal/traditional products, offers multipurpose and multi-ingredient products which are popular amongst consumers. The company’s protein drink mix includes 24 vitamins and minerals, 15g of soy protein and 5g of carbs per serving, claiming to satisfy hunger and help consumers stay energised throughout the day.

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