According to American Botanical Council (ABC)’s 2023 Herb Market Report, U.S. consumers spent an additional $533 million on herbal supplements in 2023 compared to 2022, a 4.4 percent increase in annual sales.
The 2023 report is based on U.S. retail sales data provided by SPINS and Nutrition Business Journal (NBJ). The report was co-written by Tyler Smith, managing editor of ABC’s HerbalGram; Carly Lang, media relations manager at SPINS; and Erika Craft, market research analyst at NBJ.
The report explored the ingredients with top sales and strongest sales in both mainstream and natural retail data.
For the mainstream channel, the top-selling ingredient was psyllium. Among the 40 top-selling ingredients, beet root had the strongest sales growth of 108 percent between 2022-23. Six other ingredients also had sales greater than 20 percent including gingko, bacopa and oats. Three ingredients had significant sales decreases, ivy leaf, elderberry and cannabidiol.
For the natural channel, turmeric ranked first in sales. Sales of barberry nearly doubled over the previous year, likely due to increased popularity of berberine. Six other ingredients experienced notable sales including fungi and algae and two ingredients had sales declines greater than 20 percent, quercetin and elderberry.
“After years of pandemic-related fluctuations, several signs point to a market that is continuing to normalize, including increased consumer spending on products marketed for healthy aging and the ongoing sales decline for some ingredients commonly used for immune health,” Smith said. “For a market segment that has seen annual sales growth for most years since at least 2000, a return to ‘normal’ is clearly a welcome development.”
Mark Blumenthal, founder and executive director of ABC added, “The growth of herbal dietary supplement sales in 2023 indicates U.S. consumers’ continued interest in building and maintaining optimal health using plant- and fungi-based dietary supplements. With few exceptions, sales of herbal dietary supplements have been on a steady increase for the past 20 years, a trend that reflects a significant demographic movement, i.e., the growing commitment to natural health by millions of Americans.”
For more information, visit www.herbalgram.com.
