Pune, India -- (SBWIRE) -- 12/26/2018 -- Global Health Supplements Market – Overview
The consumption of health supplements is increasing among consumers because they provide those nutrients to us on a regular basis which we do not regularly get in our food due to our food habits in a consumerist atmosphere. Hence, the market for health supplements is growing. Health supplements are supplements, not a replacement for food for a healthy diet.
Market Research Future (MRFR) has published a research report that foretells boost for the global health supplements market with 7.8% CAGR (Compound Annual Growth Rate) between 2017 and 2023. One of the most important reasons for their rising demand and hence market is that they are helpful for the treatment of rheumatic disorders, allergy, and cardiology. Key factors that are driving this market include changing lifestyles, developing retail & pharmaceutical industries, ensuring adherence to recommended dietary requirements, growing awareness about the functional benefits of health supplements, growing concerns about maintenance of health to avoid later treatment, increasing concern towards health improvement, increasing urbanization, preventing occurrence of diseases, treating illnesses, peer pressure regarding health & fitness due to media, friends & family, and rapid advancements in product offerings.
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The global health supplements market has been segmented on the basis of applications, end users, form, ingredients, types, and lastly region. On the basis of applications, this market has been segmented into allergy, cardiology, rheumatic disorders, and others. Based on end users, the market has been segmented into clinics, hospitals, research centers, and other. The form-based segmentation segments the market into capsules, chewable, liquid syrups, tablets, and others. The ingredients-based segmentation of market comprises of amino acids, botanicals, enzymes, vitamins & minerals, and others. By types, the market has been segmented into bodybuilding supplements, dietary supplements, eye health supplements, specialty supplements, and others.
Latest Industry Updates
Jan 2017 Galaxy Scientific Nutrition in India launched prebiotic soluble fiber dietary supplements, MyFy.
Jun 2016 Alcresta has raised $49.4 million to support the launch of its new digestive enzyme cartridge Relizorb.
Jul 2015 DSM launched Tolerase G, a digestive enzyme supplements to effectively break down residual gluten in the stomach
Global Health Supplements Market - Competitive Analysis
With the entry of industry players in the health supplements segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. With companies aiming to capture a considerable share of the market segment as early as possible, they are competing and experimenting with various advantage points. The end-user industries are inclined towards product promotions through social media, magazines and other mediums in order to reach out to customers.
The promotional strategy aids in retaining the existing customers and also to regenerate new customer base. Furthermore, with strategic expansions, market players can focus on penetrating into the developing economies to expand their business portfolio. Consumers in developing countries are keen on exploring new product range offered to them and form a large consumer base. Establishing market in these emerging economies is profitable based on relatively low set-up costs, ease of doing business, and further lower variable cost to be incurred.
Key Players
Some of key the players in the market are Herblife International (U.S.), BASF SE (Germany), E. I. du Pont de Nemours and Company (U.S.), Glanbia plc (Republic of Ireland), Abbott Laboratories (U.S.), Alticor Inc. (U.S.), The Nature's Bounty Co. (U.S.), Bayer AG (Germany), GlaxoSmithKline Limited (U.K)
Regional Analysis
The regional segmentation of the global health supplements market covers The Americas (North America & South America), Europe, Asia Pacific, and the Middle East & Africa (MEA). The Americas hold the lion's share in the global market due to the presence of major key players in this region, especially in North America. Apart from big scale production, availability of funds for research, and government support for research & development (R & D) regarding the development of new health supplements which boosts the market. The market in the Americas is expected to grow during the forecast period. The United States of America (USA) and Canada are expected to lead the market. Europe is the second largest position in the global health supplements market, due to the reasons same as the Americas. Due to technological advancement, North America and Western Europe are more advanced than South America and Eastern Europe, respectively. The cream of Europe market comprises of France, Germany, Italy, Spain, and the United Kingdom (UK), followed by rest of Europe.
The Asia Pacific is the fastest growing market due to the high healthcare expenditure, huge patient population, increasing demand for quality products, and presence of rapidly developing healthcare technology. The biggest markets in the Asia Pacific region comprise of Australia, China, India, Japan, and South Korea, followed by rest of the Asia Pacific region. In the MEA region, the market has a slow growth due to lack of available funds, education, lack of healthcare awareness, and political instability.
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Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power Of Suppliers
TOC Continued…
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