Homeopathic and Herbal Remedy Sales Reach $6.4 Billion
Consumers are reaching for more than OTC remedies for treating ailments.
Despite eighty-degree temps making their first appearance across the Midwest this week, many consumers are still in the throes of cold and flu aliments. But new research from Mintel reveals that it may not just be OTC remedies consumers reach for when treating ailments as Mintel estimates U.S. retail sales of homeopathic and herbal remedies to have reached $6.4 billion in 2012, up almost 3 percent from 2011, and growing 16 percent over the past five years.
Today 30 percent of respondents who suffered an ailment within the past year claim to have used a homeopathic or herbal remedy to treat it. And there is further good news for the homeopathic and herbal remedies sector too, as Mintel forecasts sales to increase to $7.5 billion by 2017 as more Americans become proactive about their health and further growth is fueled by availability of these products in mass retailers.