Natural OTC Market Size, Share, Growth, and Industry Growth, By Type(Homeopathy, Probiotics, Superfood and Others), By Application (Children, Adults and Others), Regional Forecast By 2031

Updated On: 08 April 2024

Natural OTC Market Report Overview

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The global natural OTC market size was USD 4.802 billion in 2021.  As per our research, the market is projected to touch USD 15.01 billion in 2031, exhibiting a CAGR of 12.34% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher than anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Natural Over The Counters are non-monograph, drug-free products that could include organic, plant- or herb-based components. Natural Over The Counters, which can be homoeopathic medications, frequently make claims about helping with minor illnesses and/or preventing, maintaining, or treating them. Honesty and transparency of components are what seem to work for natural OTCs. The demand for natural over-the-counter medicines that heal minor ailments without dangerous substances or undesirable side effects is being driven by millennials. Additionally, as more millennials start families, they prefer natural items for their kids.

Brands like Zarbee's, Babyganics, Garden of Life, Irwin Naturals, and Olly are expanding quickly because they are open about their ingredients and source their products sustainably. Since millennials are also frequent online buyers, natural brands benefit from the e-commerce market, where customers who are attracted to these trends may learn about natural ingredients, transparency, sustainable sourcing, and social responsibility.

COVID-19 Impact: Lockdown Aced the Slower Economy Growth Rate Which Inflated the Market

Witnessing the consequences of slower economy growth rate due to the COVID-19 outbreak, the companies have faced high risks of profit declination. At present, the America’s natural OTC market growth maintains a pace and rapid growth. The demand in the days of pandemic were quiet stable in various regions. Foreseeing the future the market  will turn concentrated and the product consumption will have a adequate amount of growth as the immunity booster will be in high demand in the phase of COVID-19. With the development of economy and the rapid industrialization, natural OTC market share has huge potential in the global economy for the forecasted period.

LATEST TRENDS

"Growing Interest in Transparency and Clean Label Products to Attract Consumers and Expand the Market"

Transparency on product labels for foods, drinks, consumer goods, personal care items, and now vitamin supplements is gaining popularity. The Clean Label Project is an impartial organisation that examines products and checks for the existence of dangerous substances in pet and infant foods and beverages. Products without artificial flavours, colours, sweeteners, preservatives, GMOs, antibiotics, or difficult-to-pronounce, unidentifiable substances are those with clean labels. Consumers are closely examining labels and ingredient lists in search of condensed, simple-to-read, and easily recognisable lists. Additionally, they are drawn to goods that make the promise to be "free of" GMOs, artificial colours, preservatives, and other synthetic ingredients.

Clean labels appeal to millennials. Customers who have food allergies want clean labelling. Consumer demand for improved food safety and supply chain transparency is growing as a result of food recalls. Consumers are increasingly looking for non-GMO, sustainable, organic, and local healthy food options with clean labelling.

Natural OTC Market Segmentation

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• By Type

Based on type, the natural OTC market is classified into homeopathy, probiotics, superfood and others.

• By Application

Based on application, the natural OTC market is classified into children, adult and others.

DRIVING FACTORS

"The Demand from the Healthcare Sector to Boost the Market  "

According to Laura Mahecha, manager of the healthcare industry at Kline Market Research, "Consumers are using these products for both prevention and immune boosting properties as well as to help aid healing while they are sick. Customers are receptive to the notion that the body's natural defences against upper respiratory conditions including colds, coughs, and allergies can be strengthened, which has been prominently promoted by companies like Emergen-C, Zarbee's Naturals, and Zicam.

Customers responded favourably to the immune-boosting claims made by probiotic companies including Culturelle, Align, and Schiff Digestive Advantage, which helped the category's sales increase by double digits. These supplements boost immunity through the digestive system and work best when taken often.The majority of consumers take probiotic products on a daily basis and they are typically sold at rather high retail price points, according to Ms. Mahecha. As a result, both retailers and the brands' makers see significant sales increases. 

"Consumers Interest in Natural Personal Care Products to Multiply the Market Growth "

Natural OTC and personal care products are no more the niche items they once were, only being sold at natural and specialised stores. Since these brands have gained widespread recognition, pharmacy shops and mass merchandisers now account for the majority of their sales. Personal care brands are marketed alongside conventional, non-natural items in these mass channels. The migration of natural brands to the mass market, where major mass retailers dedicate shelf space to really natural goods, leading consumers in their purchasing decisions for truly natural versus naturally-inspired items, is one of the key growth drivers in the beauty and personal care industries. Mass merchandisers currently account for about 25% of all personal care brand distribution and are expanding, with distribution growing by a respectable 10% over the past year. Regular sales of natural personal care and natural OTC products are being driven by consumers' interest in components for organic personal care products.     

RESTRAINING FACTORS

"The Stock Issues and the Regulations to Impede the Market Growth"

There are some risks in the OTC marketplaces, and natural OTC stocks can be dubious. When volume in the OTC market declines, it might do so for a protracted period of time. Shady dealings and dubious procedures result from a lack of regulation. FINRA issues trading symbols and oversees trading on the OTC market. Public corporations are required to disclose splits, reverse splits, name changes, and mergers. The OTC Bulletin Board and OTC Link ATS are also under FINRA's regulation. Broker-dealers post pricing and volume using those platforms. To apply to quote securities, a broker-dealer must be certified by FINRA.

Natural OTC Market Regional Insights

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"North American Region to Lead the Market with Rapid Growth and Potential Manufacturers"

The North American region accounted for the lions share in the natural OTC market. American customers are increasingly preferring more natural products and components and are ready to pay more for them, including those that are organic, GMO-free, and BPA-free. This topic includes natural over-the-counter (OTC) products, which may contain organic, plant- or herb-based components and are drug-free. Most customers increasingly choose OTCs because they want to use what they perceive to be safer goods with fewer side effects, which is essentially what drives this trend. It's interesting to note that many customers believe natural OTCs to be just as effective as conventional OTCs.

KEY INDUSTRY PLAYERS

"Notable Players to contribute towards the market growth"

The top notch players of the market share are implementing and applying varied front end and back end strategies  to exceed and expand their empire.

List of Market Players Profiled

• Emergen-C (U.S.A)
• Nordic Naturals (U.S.A)
• Nature's Bounty (U.S.A)
• Airborne (U.S.A)
• Enviromedica (U.S.A)
• Zicam (U.S.A)
• Zarbee (U.S.A)
• Hyland (U.S.A)
• Boiron (France)
• Mucinex (U.S.A)
• Sambuco (Italy)
• KeyView Labs (U.S.A)
• Ricola (Switzerland)
• Quincy Bioscience (U.S.A).

REPORT COVERAGE

The report covers the information on the advancement outlooks with new inventions and SWOT analysis.The market elements situation, with the development areas of the market in the upcoming years. Market segmentation information including the subjective and quantitative research including the effect of financial and strategy viewpoints are discussed in the report. The report also disseminates the information on the regional and nation level assessment incorporating the demand and supply dominators that are affecting the development of the market. The competitive landscape including market share of major players, along with the new research methodologies and strategies adopted by players for the  forecasted period is listed in the report.