Exploring Routes to Market for Herbals
Herbal ingredients have been used in food and medicines and in cosmetic and domestic products since time immemorial. Hundreds of years on, they are still used for similar purposes – in herbal medicines, medical devices, botanical food supplements, cosmetic and bodycare products and biocidals – but each product type now has its own distinct and particular legislative framework and rules.
Herbal product market analyses all point to growth, with just one sector alone, the global market for ‘herbal supplements and remedies’ being projected to exceed US$140 billion by 2024 – with Europe the largest market worldwide and China a close second.
Maximising success in an expanding herbal product market requires a clear understanding of the regulatory requirements for the various different categories of a product so as to assess what is and is not possible – and failure to undertake this essential groundwork can be costly in terms of both time and money.
Who should attend?
This course will be of interest to a wide range of disciplines, including product managers and regulatory, technical and marketing staff: its content aims to encourage an objective view of not only current routes to market but also what other opportunities there might be – the strengths and weaknesses of what there is and how best to determine the reality of possible additions.