Sales of herbal/traditional products remain stagnant in 2021 due to the various opposing performances across the products in this category. While herbal/traditional topical analgesics and herbal/traditional dietary supplements have been recording respectable volume and value growth for example, herbal/traditional cough, cold and allergy (hay fever) remedies and herbal/traditional dermatologicals have declined, thereby having a limiting impact on the overall development due to their large sizes.
With the exception of 2020, herbal/traditional products enjoyed strong and steady growth over the review period, with consumers increasingly looking for products that have fewer side-effects, and which can provide a gentler solution to their problems. Nevertheless, recent concerns and warnings were made public about the use of Iberogast, which comes under herbal/traditional digestive remedies.
Players in herbal/traditional products have experienced new challenges in 2021 as consumers in many cases are playing it safe in light of the pandemic and purchasing products that are considered stronger and thus more effective, with more Austrians than previously buying standard sleep aids and cough, cold and allergy (hay fever) remedies. Indeed, herbal/traditional products are often perceived to be gentler and less aggressive compared with their standard equivalents, but also not as efficient.
With the overall consumer health industry being expected to fully recover and register further growth over the forecast period, herbal/traditional products is set to record a positive development, too. In most cases, including cough, cold and allergy (hay fever) remedies, topical analgesics and sleep aids, herbal/traditional varieties are even expected to post a more dynamic performance than the parent categories.
The fact that many consumers are trying to be more proactive with their own healthcare – taking a more preventative approach to illness rather than just treating symptoms – will affect herbal/traditional products in two ways. On the one hand it lowers growth potential as consumers are set to need fewer medications overall if living healthier, more balanced lives, but on the other hand it works in favour of herbal/traditional products as these remedies can often be used as preventative products (many vitamins and dietary supplements, tonics, topical analgesics ie functional rubs, CBD-infused products).
The herbal/traditional products category already has a fairly fragmented competitive landscape, not only due to the large variety of products but also because of the strong growth potential attracting various players. Indeed, even though the leading ranks are stable, featuring companies and products that are highly renowned, internationally available and established for decades (eg Wick, Ricola and Klosterfrau Melissengeist) herbal/traditional products is also one of the most interesting categories for new entrants.
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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 Definitions
This report originates from Passport, our Herbal/Traditional Products research and analysis database.
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