Health Supplements Global Market – Overview
Health Supplements Market is booming owing to the consumer’s inclination towards personal fitness and healthy diet. According to a recent study report published by the Market Research Future, The global market of Health Supplements has been increasing. The market is expected to grow at a rapid pace during the forecast period (2016 – 2022). The Health Supplements Market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
The Global Health Supplements Market report analyses the key players as Amway (US), Danone (France), Bayer Pharma AG (Germany), BASF SE (Germany), Glanbia plc. (Republic of Ireland), Nestlé (Switzerland), Yakult Danone India Pvt Ltd, Solgar Inc. (US), BSN (US), and Global Health Products, Inc. (US) are some of the key players profiled in MRFR Analysis at the forefront of competition in the global Market of Health Supplements.
Health supplements are the products which are intended to provide nutrients which may not be embedded into the body by regular diets. These supplements are generally inclusive of vitamins, fibers, minerals, and fatty acids. The Embryonic market of Health Supplements is driven by consistent positive results demonstrated by the health supplements, advent technologies and diverse use of these supplements. The Health supplements Market is booming due to increase in consumers’ interest towards personal fitness and healthy diet. Rising population, changing lifestyle, increased per capita income and increase in health care costs.
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On the other hand factors such as; intense competition is inhibiting the growth of this market as it is not easy for new competitors to enter into to the market and compete with the well established players whose supplements are preferred the most.
There are types of Health supplements available in the market such as Therapeutic Health Supplements, Dietary Supplements, Body Building Supplements, Eye Health Supplements, Specialty Supplement, PET Drugs, Diagnostics Health Supplements, and other.
Health supplements don’t support the diagnosis, cure, treat, or prevention of disease, they just contribute to health maintenance and well-being. Some supplements claim to provide enough of the vital substances the body needs to function; others may help reduce the risk of disease, but supplements should not replace complete meals which are necessary for a healthful diet. Unlike drugs, supplements are not permitted to be marketed for the purpose of treating, diagnosing, preventing, or curing diseases. That means supplements should not make such claims, as “lowers high cholesterol” or “treats heart disease.” Claims like these cannot be legitimately made for Health supplements. Health Supplements can be beneficial to the health, however, taking supplements can also involve health risks. The U.S. Food and Drug Administration (FDA) does not have the authority to review Health supplement products for safety and effectiveness before they are marketed.
Health Supplements Global Market – Competitive Analysis
The Health supplements market appears to be highly competitive and fragmented owing to the presence of several large and small key players accounting for a substantial market share. These key players compete based on pricing, innovation, added health benefits, product differentiation and category extension. Well established players incorporate acquisition, collaboration, partnership, expansion, product & technology launch in order to gain competitive advantage in this market and to maintain their market position. Manufacturers and distributors of Health supplements and Health ingredients are prohibited from marketing products that are adulterated or misbranded. Which means that these firms are responsible for evaluating the safety and labelling of their products before marketing to ensure that they meet all the requirements of DSHEA and FDA regulations? Marketers are trying out different marketing strategies such as marketing the product in the Security and investigation sectors. For instance;
September 2017, Mediconstant Pharmacy SDN BHD a unit of Bioalpha Holdings BHD (Kuala Lumpur) announced it’s plans to market its products on the Royal Malaysia Police (PDRM) premises. This collaboration will support the promotion, sales and marketing of Bioalpha’s products through MPSB’s pharmacy outlets and on the premises of the police.
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Health Supplements Global Market – Segments
The Health supplements Market can be segmented in to 5 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Type: Comprises Therapeutic Health Supplements, Dietary Supplements, Body Building Supplements, Eye Health Supplements, Specialty Supplement, PET Drugs, Diagnostics Health Supplements, and other.
Segmentation By Content : Comprises Vitamins, Calcium, Minerals, Probiotic, Proteins, Ginseng, fiber, and other.
Segmentation By Applications: Cardiology, Rheumatic Disorders, Allergy, and other.
Segmentation By End User: Comprises Hospitals, Research Centres, and Clinics.
Segmentation By Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Health Supplements Global Market – Regional Analysis
Globally North America is the largest market for Health Supplements. The North American market for Health Supplements is expected to grow at a substantial CAGR and is expected to reach to astronomical amounts by the end of the forecasted period. The North American Health Supplements market is growing at a significant pace because of availability of main stream supplements in consumer stores, these supplements which were not available in consumer stores are now available for the population to consume which will lead to growing consumption and demand of health supplements.
Europe is the second-largest market for health supplements and is expected to grow at a considerable CAGR. Whereas Asia pacific is expected to be a fastest growing market for health supplements and expected to grow at a rapid rate during the forecasted period.
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