Number of Medicinal and Botanical Manufacturing Businesses in the US (2000–2023)
As of 2023
2,086
medicinal and botanical manufacturing businesses in the United States
Number of Firms Over Time
Total Employment Over Time
Key Insights
- •The medicinal and botanical manufacturing industry has grown 51.5% since 2000 (from 1,377 to 2,086 firms).
- •The peak year was 2022 with 2,138 firms.
- •Recent trend (last 5 years): the industry is growing (+12.2%).
- •Employment: 322,925 workers in 2023 (45.2% change since 2000).
- •Estimated 5-year survival rate: 64%.
Year-by-Year Data
| Year | Firms | Establishments | Employment | Entry Rate | Exit Rate | Net Growth |
|---|---|---|---|---|---|---|
| 2023 | 2,086 | 2,745 | 322,925 | 10.6% | 8.6% | +1.4% |
| 2022 | 2,138 | 2,708 | 312,144 | 10.9% | 8.6% | +7.5% |
| 2021 | 2,075 | 2,642 | 299,230 | 12.8% | 7.8% | +5.5% |
| 2020 | 1,979 | 2,522 | 281,856 | 11.8% | 7.6% | +4.2% |
| 2019 | 1,859 | 2,401 | 266,524 | 11.9% | 7.5% | +4.5% |
| 2018 | 1,763 | 2,284 | 255,705 | 9.5% | 7.4% | +1.5% |
| 2017 | 1,741 | 2,238 | 252,607 | 9.4% | 8.1% | +2.1% |
| 2016 | 1,692 | 2,201 | 245,217 | 8.4% | 5.9% | +1.5% |
| 2015 | 1,625 | 2,135 | 237,936 | 10.4% | 6.4% | +1.4% |
| 2014 | 1,599 | 2,047 | 234,972 | 8.2% | 6.7% | +1.2% |
Source: U.S. Census Bureau, Business Dynamics Statistics (BDS). Entry/exit rates refer to establishment openings and closings.