Medicinal Herb Profile
Revised December, 2018.
Medicinal herbs, some of the oldest medicines known to man, continue to be a major market and constitute a multi-billion dollar industry.
Herbs may be grown in a field, raised bed, greenhouse, containers, hydroponically or in the forest. Production requires a few acres of land. Herb crops may be sold wholesale, through farmers’ markets or through direct sales.
Herbs are a subset of botanicals, which are plants valued for medicinal or therapeutic properties, flavor and/or scent. They are sold in many forms: liquid or solid extracts; fresh or dried; tablets, capsules, powders or tea bags. Leading uses for herbal remedies include colds, burns, headaches, allergies, rashes, insomnia, premenstrual syndrome, depression, diarrhea and menopause.
Approximately 1,500 botanicals are sold as dietary supplements or ethnic traditional medicines. The U.S. Federal Drug Administration (FDA) regulates herbal supplements as supplements, not as food or drugs.
U.S. prescription drug sales were $338.1 billion in 2017. Sales of herbal products and dietary supplements totaled more than $6.9 billion in 2015, according to the American Botanical Council. As of 2015, more than 68 million U.S. consumers take herbal remedies.
The aging U.S. population is a contributing factor to the increase in supplement sales. Baby Boomers are seeking a more holistic approach to their health care.
There is widespread use of supplements, especially among senior citizens, according to Moshe Frenkel, MD, an assistant professor in the Department of Family Medicine at the University of Texas Medical Branch at Galveston. Use of supplements among consumers over age 65 has doubled, according to Frenkel. Most of the supplement use is self-initiated and is done without physician approval. Frenkel says some supplements are okay, while others may have harmful effects.
With growing interest in medical alternatives, physicians and pharmacists are taking herbs, dietary supplements and other self-care options into account. For example, the American Pharmacists Association published the 16th edition of the Handbook of Nonprescription Drugs in April 2009. The textbook includes a comprehensive examination of all self-care options, including nutritional supplements and herbal medications.
New: Enterprise Budget for Herbs, Iowa State University Farm Food and Enterprise Development
American Botanical Council.
AphA Publishes 17th Edition of Handbook of Nonprescription Drugs, American Pharmacists Association, 2012
Dietary Supplements: Onward & Upward?, Nutriceuticals World, April 2012.
Dietary Supplements, U.S. Food and Drug Administration.
Herbal Sales up 3.3% in 2010, American Botanical Council, 2011.
Nature's Healing Pharmacy, Green Medicine, Medicinal Plant Working Group, Plant Conservation Alliance.
Supplement Sales Continue Strong Growth Tragectory in 2010, Nutrition Business Journal, 2010.