The unprecedented COVID-19 pandemic has affected the global economy to a great extent. Considering the food industry, one of the most important sectors of the economy, a tremendous impact has been witnessed on the entire process from the field to the consumer. The restrictions in the movement of workers, closure of food production facilities, and changes in consumer demand have put excessive pressure on the food industry.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Powder Horehound Supplements market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Powder Horehound Supplements
This newly published and insightful report sheds light on Market Insights of Powder Horehound Supplements, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Powder Horehound Supplements Market.
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According to new Fact.MR study, worldwide sales of horehound supplements are estimated to surpass 6,200 tons in 2019. The horehound supplements industry 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.
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.
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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 study finds that contribution of drug stores to horehound supplements sales remains high, accounting for approximately two-fifth shares in 2019. In addition to implementing new technologies in processes and operations for more economic extraction and production, horehound supplement manufacturers are adopting novel marketing techniques, including the leverage of online platforms, to expand their customer base.
Fact.MR’s study also offers a long-term forecast of the horehound supplements market for the period between 2019 and 2027. The horehound supplements market is projected to register a volume CAGR of 8.0% through 2027.
Key Question answered in the survey of Powder Horehound Supplements market report:
- Sales and Demand of Powder Horehound Supplements
- Growth of Powder Horehound Supplements Market
- Market Analysis of Powder Horehound Supplements
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- Key Drivers Impacting the Powder Horehound Supplements market
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- Restraints Shaping Market Growth
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- Although there studies that advocate the health benefits of horehound, lack of scientific evidence or clinical research done to support these claims continues to remain a key concern among horehound supplements manufacturers.
- While consumer preference, acceptance, and trust for botanical health supplements remain high, several side effects of using horehound in traditional herbal medicines such as nausea, headache, and skin allergies might pose a negative impact on growth of the horehound supplements market.
Horehound Supplements Market – Competitive Landscape
- In November 2018, Swanson Health Products, a key player in the horehound supplements market, launched a Chinese website, developed by a Shenzhen-based cross-border e-commerce group Azoya, to expand its reach in the world’s biggest retail market. In May 2017, the company announced the launch of a new line of products with 14 probiotic supplements.
- In August 2018, Mountain Rose Herbs launched its brand new ‘Mountain Rose Herbs Giving Project’, a program funded entirely by MRH to award three $4000 grants to people or organizations that require extra assistance for their plant- or conservation-centric projects.
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