Global Natural Health Supplements Market to Grow at 8.0% CAGR
With the growing prevalence of lifestyle related disease, people are preferring to adopt a healthy lifestyle and preventive healthcare.
In addition, growing awareness regarding the various healthcare diseases and preference for a healthy lifestyle, has led consumers to prefer health related supplements that enhance bodily functions and promotes health. The global natural health supplements market is expected to witness a growth of 8.0% CAGR over the forecast period, 2016-2024.
A surge in the adoption of modern lifestyle patterns in parallel to growing urbanisation has led to increasing prevalence of various diseases such as high blood pressure, obesity and diabetes. In addition, growing awareness regarding lifestyle diseases will propel growth of the global natural health supplements market in the coming years. Moreover, people are increasingly shifting towards products that offer healthy options and relatively less negative impacts. Additionally, increasing government funding for the research and development regarding nutritional supplements will further impact growth of the natural health supplements market globally in the coming years.
Growing adoption of self and direct medical practices is propelling growth of the global natural health supplements market in the coming years. Furthermore, upsurge in demand for natural health supplements among old population suffering from disorders related to joints and bones is likely to fuel growth of the global natural health supplements market over the coming years.
Apart from various factors fueling growth of the natural health supplements market, growing trends of digitalization and e-commerce platforms will significantly boost growth of the global natural health supplements market in the coming years. Furthermore, manufacturers of health supplements will further remain inclined towards formulation of natural health supplements with increasing demand for natural health supplements in the global market in the coming years.
Marine among various sources will hold relatively high market share of nearly 43% in the natural health supplements market globally over the coming years. Marine will witness a growth of 8.6% CAGR by the end of 2024. Plant sources among others have been an ancient source of extracting natural ingredients, whereas marine source will witness a significant growth over the coming years. Women consumers among various demographics of consumers will mainly remain the key targets for manufacturers. Product offerings and development of manufacturers of natural health supplements market will remain mainly focused on women and senior citizens over the coming years.
Asia Pacific among other regions is likely to project relatively high contribution of APAC in terms of revenues in the span of next seven years. In addition, the natural health supplements market in APAC will further register relatively fast revenue growth, and will further grow at 8.5% CAGR over the coming years. North America among other regions will represent a lucrative region for the natural health supplement market globally in the coming years. Canada and U.S. among other countries of North America will account for US$22Bn in the span of next seven years.
Leading manufacturers operating in the global natural supplements market include Omega Protein Corporation, Herbalife International Inc., Evonik Industries AG, Archer Daniels Midland Company, The Nature’s Bounty Co., Amway Corporation, Blackmores Limited, Naturex SA, Nutraceutical International Corporation and United Naturals Food, Inc.