With the advent of new segments, the market for herbs and botanicals has changed
significantly over the past decade. This has opened up new opportunities for manufacturers, allowing them to position botanicals and other natural ingredients in products that no longer have to compete with only synthetic/allopathic ingredients.
The herbs and botanicals market, as it applies to the dietary supplement and self-medication industry, is driven by consumer demographics and health concerns. Broadly speaking, these trends include anti-aging, weight control, joint and bone health, digestion/ immunity, cardiovascular health/ diabetes, cognition/memory, female/ male health and the growing wellness and beauty trends. TFH has a product offering for each of the abovementioned segments and many more.
With the continued sedentary and hectic lifestyles of industrialized regions of the world and the relative increase of the senior segment of the world population, these trends are expected to grow. At the same time, consumer education about the functional benefits of herbs and botanicals is increasing. Together with increased confidence due to solid science behind the products, market entry for new ingredients is becoming easier.
According to estimates, the global market for herbal remedies across all segments currently brings in about $83 billion. The global herbal pharmaceutical industry (including drugs from herbal precursors and registered herbal medicine) contributes $44 billion. Research on current market value statistics globally suggest that markets in all regions are at a steep growth trend.
With regards to South African statistics, the legislation is in a constant state of flux, making national sales figures largely underestimated. Based on TFH's unique product offering, we have the ability to offer our products in the local and international arena.