Chicago, IL—Market research firm Mintel estimates that U.S. retail sales of homeopathic and herbal remedies increased 3% in 2012. Total sales from various channels were approximately $6.4 billion.
This figure represents a climb of 16% in sales over the past five years, which is not predicted to slow any time soon. If the trend holds, Mintel predicts revenue from homeopathic and herbal remedies to reach $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.”
In fact, 30% of participants in Mintel’s survey say they have purchased a homeopathic or herbal remedy to treat an ailment in the past year. This includes families with young children looking for a holistic approach to health.
Published in WholeFoods Magazine, July 2013