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Economy Dampens Herbal Supplement Launches, But Industry Still Optimistic

March 11, 2014: 12:00 AM EST
The economic slowdown has significantly dampened new herbal supplement launches, which peaked at 319 in 2008 but dropped to a mere 106 last year, according to the Natural Marketing Institute. There is still reason for optimism, mainly because herbal supplement users tend to be fanatics: they are loyal and they buy a lot of product, compared to the average supplement buyer. Thirty-six million American adults said they used  herbal supplements in 2013, up 33 percent from 2011. The higher usage may be due to another encouraging trend: the younger generation is much more likely to believe that herbs are safe and effective. Forty percent of millennials say herbal supplements are very safe and 35 percent believe them to be very effective, compared to19 percent and 8 percent respectively for “matures”.
Hank Schultz , "Future looks increasingly bright for herbal supplements, market researcher says", Nutra-ingredients USA, March 11, 2014, © William Reed Business Media SAS
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