According to new Fact.MR study, worldwide sales of horehound supplements are estimated to surpass 6,200 tons in 2019. The horehound supplements market continues to be influenced by a slew of factors, ranging from growing consumer inclination towards botanical nutraceutical supplements to R&D investments in exploring the application scope of various traditional herbs. The study assesses the horehound supplements market in detail, and offers an analysis of the macroeconomic and industry-specific factors influencing growth of the horehound supplements industry.
The study opines that adoption of the horehound supplements market remain sustained by highly effective marketing strategies that are centered on the invented idea that advocates the necessity of these products for maintaining good health. Amendments made to US Federal Food, Drug and Cosmetic Act exclude manufacturers from all regulations on OTC and prescription drugs. The FDA will be responsible, rather than the manufacturers, to claim effectiveness and safety of these products, which has dramatically favored adoption of botanical supplements, in turn complementing the horehound supplements sales.
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Global horehound supplements market registered a value CAGR of 6.4% during the period between 2013 and 2018. Rising consumer inclination towards herbal or botanical health supplements in line with significant developments in nutraceutical industry has underpinned the growth of horehound supplements market.
Worldwide sales of horehound market closed in on revenues worth US$ 600 million in 2018, and are estimated to record a promising Y-o-Y growth at nearly 8% in 2019.
North America remains the leading market for horehound supplements, with revenues in 2018 estimated at US$ 180 million. Horehound supplements sales in the region remain driven by key beneficial properties of horehound (Marrubium vulgare), a member of the mint family, in treating respiratory conditions.
Asia Pacific Excluding Japan (APEJ) is likely to be a high-growth market for horehound supplements, upheld by increasing use of traditional herbal supplements in the region.
The U.S. FDA has not approved horehound as an effective cough-suppressant, however the European Medicines Agency (EMA) as well as German Commission E have approved its use as expectorant and appetite stimulant, as the herb meets the criteria for ‘traditional use registration’ for non-prescription, herbal medicines. The study also finds that the clean-label motivations are permeating the supplements landscape, and growing consumer awareness has driven the shift away from medicines to nutrition supplements. The trend has paved lucrative avenues for horehound supplement manufacturers, acting as a key enabler of product differentiation.
North America Leads the Way in Horehound Supplements Landscape
According to the study, North America continues to remain the leading market for horehound supplements, with sales in 2018 estimated in excess of 1,700 tons. According to the American Botanical Council, horehound is one of the top-selling ingredients for botanical supplements, commonly used in cold and cough remedies owing to its relevant suppressant properties. This, coupled with macro trends that range from unprecedented adoption of natural health remedies to growing preference for organic and natural products, continue to underpin sales of horehound supplements in North America.
Asia Pacific Excluding Japan (APEJ) will continue to remain the high-growth market for horehound supplements. Growing health-conscious demographic in the region, along with a relatively larger consumer base, continue to underpin lucrativeness of the region for horehound supplement sales. These supplements have gained popularity as effective solutions to combat stress, apart from their attribute of being a rich source of antioxidants.
The study finds that consumer show a marked preference for liquid horehound supplements, which can be attributed in part to their easier mode of administration. Worldwide sales of liquid horehound supplements account for over 40% market shares.
The Fact.MR study on horehound supplements market offers industry-based intelligence and comprehensive insights into the global market. To carry out a thorough analysis on the growth of horehound supplements market for the period, 2019-2027, a unique methodology and holistic approach have been adapted.
An elaborate and extensive secondary research is followed by an in-depth primary research, to obtain valuable information regarding historical and current growth parameters of the horehound supplements market.
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