The Truth behind The Blooming Market Of Dietary Health Supplementsby Edward Lucas Business Development Head
Immune health is not something that people take lightly and after the recent Corona Virus breakdown, people have started to pay more attention to the immune system of their body. According to the survey of the Council for Responsible Nutrition; immune health is one of the top 4 reasons why consumers consume dietary health supplements like; omega fish oil, turmeric curcumin, and multivitamins. The other reasons alongside this one are energy, healthy aging, filling the daily nutrient requirements, and overall well being.
The total market number also indicates that more than dollar sales of dietary health supplements have increased by 15% in 2019 over previous years. Another survey performed by ProActive Health, it was revealed that in Asia- specifically in China more than 50% of survey respondents said they are already taking health supplements while 30% of respondents said they are thinking about trying it in the near future.
The multivitamins are the superstar among supplement
Among all the health supplements, multivitamins are expected to receive the highest compound annual growth rate of 6.7% during the forecast period and are expected to be the most crucial element of the supplement market during the forecast period. On top of this, a multivitamin is expected to cover 38% of the total market share by the end of 2020. The segment is also estimated to be valued at more than US $5000 million is expected to reach the value of US $ 8900 by the end of 2025, creating thousands of job opportunities $3700 million between these times.
Global demand for health supplement
The lack of an immunity system is the reason why the human body attracts several diseases. That’s why adults who age above 65 are more prone to chronic diseases, and loss of appetite. To fill the nutrient gap in the body people prefer to take the dietary health supplements enriched with the required vitamins and fatty acids. This is the prime reason the market for health supplements is increasing at a fast pace.
The hectic lifestyle and growing diseases among the boomers are other reasons why the market demand for the health supplement is on the peak. The total rate of boomers is growing further with time, leading to a rise in health concerns. To deal with this issue, the manufacturers across the globe are in the process of coming up with innovative health supplements that are easy to carry, store and consume and can strengthen the immunity system to fight back diseases. This particular segment of boomers is expected to drive the supplement market in the upcoming years.
In the past few years, the cost of healthcare has doubled owning to the overall rise in the R& D department of the big players in the market. Increasing healthcare is forcing people to make a shift toward the health supplement.
Created on Mar 2nd 2020 04:04. Viewed 163 times.