Profiles of major market players operating in the global health supplementary food market, which include Cosmax Inc., Kolmar Korea, Japan Supplement Foods Co., Ltd., Health Sources Nutrition Co., Ltd., Goerlich Pharma GmbH, API Co., Ltd., Syngen Biotech Co., Ltd., OriBionatureSdnBhd, Nutricare Co.,Ltd, and NOVAREX Co., Ltd and others
Pune, India, Dec. 22, 2021 (GLOBE NEWSWIRE) — The health supplementary food market reached USD 12,500.6 Billion in 2020 and it is projected to grow at a CAGR of 8.1% during the forecast period, as per a recent study by Quince Market Insights.
Shifting consumer preferences towards consuming healthy food, rising focus on improving health and immunity, and a growing geriatric population, which is vulnerable to diseases have driven the demand for health supplements. Over time, the growing aged population in various countries has resulted in the need to improve nutritional content in food. Hence, the increase in demand for health supplements has fueled market growth.
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Consumers are shifting away from animal based proteins supplements to plant-based proteins supplements, which is likely to drive the growth of the market. The demand for energy and weight management is predicted to rise as the number of fitness facilities, yoga studios, and gymnasiums grows, along with a growing awareness of fitness among young people. The growing acceptability of athletics as a professional path is predicted to boost demand for sports nutrition, which is expected to drive the growth of the health supplementary food market.
With increasing urbanization and the adoption of modern lifestyle that leave little time to monitor health, the prevalence of disorders such as diabetes, obesity, and high blood pressure has steadily increased. People have come to recognize the value of preventative health measures, and as a result, they are gravitating toward lifestyle choices that reduce the negative consequences of such diseases. This has created high demand for health supplements to prevent diseases and disorders and build disease immunity, which is driving the growth of the market.
Some Significant Market Developments Considered in the Report:
May 2021 – PlantFuel Life Inc. announced a distribution agreement with leading retailer, GNC. The distribution agreement will be launched in August 2021.
April 2021 – Bausch Health Companies Inc. announced ENVIVE, a novel daily over-the-counter probiotic supplement, in the U.S. The new product will help against gastrointestinal (GI) symptoms – gas, constipation, diarrhea, bloating, and discomfort. The new product will also protect and help strengthen the digestive system by enhancing the gut barrier.
April 2021, Pharmavite announced an initiative to provide investments or partnerships to companies developing over the counter over the counter (OTC) mental wellness and supplement alternatives, for development and commercialization objectives.
COVID-19 Impact on the Global Health Supplementary Food Market
Increasing focus on healthcare particularly during the COVID-19 pandemic has resulted in awareness about need to maintain strong immunity. Although COVID-19 vaccines are now available and pharmacologic treatments are being developed, interest in health supplements that enhance immune function and reduce inflammation to help prevent COVID-19 or manage its signs and symptoms remains high. Researchers and scientists suggests that health supplements might improve immune function and help prevent or reduce symptoms of the common cold, influenza, and other respiratory tract infections. Hence, growing awareness about increasing immunity has led to the market experiencing rapid growth.
Health Supplementary Food market, by Nutrition Type
Based on the nutrition type, the market is divided into enzymes, pre & probiotics, meal replacements, diet supplements. Among these segments, diet supplement segment has captured the largest market share in 2021 and it is anticipated to remain the largest segment over the forecast period up to 2030.
The growth of the diet supplement segment is on account of busy lifestyle, which leads to unhealthy eating. The demand for vitamins and other dietary supplements to increase immunity and maintain wellbeing is driving the growth of this segment.
Health Supplementary Food market, by Packaging Type
Based on the packaging type, the market is divided into bottle packaging, containers & jars, lamizip packaging, three-sided seal pack, others. Among these segments, the lamizip packaging segment is anticipated to be the fastest growing segment over the forecast period up to 2030.
Lamizip packaging is ideally suited to all liquids, such as like juice, vitamin drinks, supplements, as it is water- and airtight packaging. Hence, the easy to use advantages of lamizip packaging are attracting consumers, which are driving the growth of this segment.
Health Supplementary Food Market, by Ingredient
Based on ingredient, the market is divided into vitamins, botanicals, minerals, proteins & amino acids, fibers & specialty carbohydrates, omega fatty acids, and others. Among these segments, the vitamins segment has captured the largest market share in 2021 and it is anticipated to grow over the forecast period up to 2030.
The growth of the vitamins segment can be attributed to increasing vitamin deficiency and increasing prevalence of malnutrition. Some vitamin deficiencies may result in health deterioration and contribute in exasperating other health conditions.
Health Supplementary Food Market, by Form
Based on the form, the market is divided into tablets, capsules, soft gels, powders, gummies, liquids, others. Among these segments, the capsules segment has captured the largest market share in 2021 and it is anticipated to grow over the forecast period up to 2030. The growth of segment is attributed to increasing consumption of health supplement capsules for stress and anxiety.
Health Supplementary Food Market, by Application
Based on application, the market is divided into energy & weight management, general health, bone & joint health, gastrointestinal health, immunity, cardiac health, diabetes, anti-cancer, and others. Among these segments, the energy & weight management segment has captured the largest market share in 2021 and it is anticipated to grow over the forecast period up to 2030.
Increasing prevalence of obesity has increased health risks and chances of contracting chronic conditions that reduce the overall quality of life. Hence, people are inclined towards buying health supplements that help in weight loss and weight management, which is driving the growth of the segment.
Health Supplementary Food Market, by End User
Based on application, the market is divided into adults, geriatric, pregnant women, children, and infants. Among these segments, the geriatric segment has captured the largest market share in 2021 and it is anticipated to grow over the forecast period up to 2030. The growth of the segment is attributed to increasing prevalence of calcium and vitamin D deficiency in senior citizens. Health supplements help them to help maintain bone health and enhance wellbeing.
Health Supplementary Food Market, by Distribution Channel
Based on application, the market is divided into over the OTC, prescribed. Among these segments, the OTC segment has captured the largest market share in 2021 and it is anticipated to grow over the forecast period up to 2030. Consumer awareness regarding personal health is increasing, which is driving the demand for OTC vitamins and nutritional supplements. Hectic lifestyles frequently result in low nutritional intakes. Hence, consumers are increasingly relying on health supplements to achieve a nutritional requirement, which is driving the growth of the OTC segment.
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Health Supplementary Food Market, by Region
Based on region, the health supplementary food market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
Among these regions, North America health supplementary food market holds the largest market share. The growth of the market is attributed to increasing focus on healthcare and immunity building. The availability of over the counter health supplements in stores and pharmacies in the region is driving the growth of the market.
The Asia Pacific is expected to experience highest growth rate over the forecast period. The Asia Pacific market is booming due to increasing focus on health and wellness. Increasing consumer awareness regarding preventative healthcare has led to increased number of people consuming health supplements.
Some Major Findings of the Health Supplementary Food Market Report Include:
Profiles of major market players operating in the global health supplementary food market, which include Cosmax Inc., Kolmar Korea, Japan Supplement Foods Co., Ltd., Health Sources Nutrition Co., Ltd., Goerlich Pharma GmbH, API Co., Ltd., Syngen Biotech Co., Ltd., OriBionatureSdnBhd, Nutricare Co.,Ltd, and NOVAREX Co., Ltd and others.
Key impact factor analysis across regions that includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the market
Impact of COVID-19 on the global health supplementary food market
Browse key industry insights from the report, “Health Supplementary Food Market, By Nutrition Type (Enzymes, Pre & Probiotics, Meal Replacements, Diet Supplements), By Packaging Type (Bottle Packaging, Containers & Jars, Lamizip Packaging, Three-Sided Seal Pack, Others), By Ingredient (Vitamins, Botanicals, Minerals, Proteins & Amino Acids, Fibers & Specialty Carbohydrates, Omega Fatty Acids, and Others), By Form (Tablets, Capsules, Soft gels, Powders, Gummies, Liquids, Others), By Application (Energy & Weight Management, General Health, Bone & Joint Health, Gastrointestinal Health, Immunity, Cardiac Health, Diabetes, Anti-cancer, and Others), By End user (Adults, Geriatric, Pregnant Women, Children, Infants), By Distribution Channel (Over the Counter (OTC), Prescribed), and By Region (North America, Europe, Asia Pacific, Middle East and Africa, South America)” in depth analysis along with the table of contents (ToC).
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