In various parts of the world, health
supplements are included as a part of a diet that beholds higher
nutritional value. The status of these health supplements also plays
a key role in their sales. A majority of consumers will prefer that
these nutritional ingredients get derived from natural or organic
sources. Persistence Market Research’s recently published study
explores the global market for natural health supplements, projecting
how the demand for natural health supplements will shape up in the
years to come. And, the crux forecast of Persistence Market
Research’s report goes – “In 2016, global natural health
supplements market was estimated to be valued at US$ 36,803.52 Mn;
which is assessed to increase at a CAGR of 8.0% to reach US$
68,140.05 Mn by the end of 2024.”
Escalating global clout of e-commerce
platforms and digitalization trends are also observed to be key
boosters for the market’s growth. The report also expects
manufacturers of health supplements to remain inclined towards
formulation of natural health supplements having holistic benefits.
Companies such as Herbalife International Inc., Omega Protein
Corporation, Archer Daniels Midland Company, Evonik Industries AG,
Amway Corporation, The Nature's Bounty Co., Naturex SA, Blackmores
Limited, United Naturals Food, Inc., and Nutraceutical International
Corporation are recognized as key manufacturers of natural health
supplements in the world.
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The report also projects higher
contribution of Asia-Pacific (APAC) region to the global natural
health supplement revenues. In 2017 and beyond, the APAC natural
health supplement market will register fastest revenue growth and
exhibit a value CAGR of 8.5%. North America will also be a lucrative
region for natural health supplement businesses during the forecast
period. By 2024-end, over US$ 22 Bn worth of natural health
supplements will be consumed across the US and Canada.
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Considering the demographics of consumers
for natural health supplements, women consumers will remain key
targets for manufacturers. Towards the end of 2021, a little over 40%
of the world’s natural health supplement revenues are projected to
be accounted by women consumers. Product offerings and future
developments of natural health supplement manufacturers are, thus,
likely to remain direct towards attracting – firstly women, and
then senior citizens.
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Sports & nutrition applications of
natural health supplements are also projected to bring in higher
revenues, procuring over one-fourth share of global revenues
throughout the forecast period. Demand for natural health supplements
will also gain traction in bone & joint support and weight
management applications.
While mass merchandize will be observed
as the largest sales channel for natural health supplements, revenues
accounted by direct sales and natural & health food sales outlets
will register impressive growth at 8.2% CAGR. In addition to this,
key findings from the report also estimate that during the course of
forecast period, more than 80% of natural health supplements produced
in the world will be derived from plant and marine sources, with both
these segments contributing with nearly-equal shares. Natural health
supplements in the form of tablets are presently in great demand, but
are expected to lose traction during the forecast period. By end of
2024, demand for natural health supplements in the form of capsules
and softgel will have increased, registering value CAGRs of 8% and
8.5% respectively.
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