New York, NY, Jan. 27, 2015 (GLOBE NEWSWIRE) -- Till about a decade ago, the global nutrition and supplements market functioned as a single, large entity. It was not uncommon to see global players straddling multiple regions with a wide range of products. But the scenario has since changed, with emerging regional markets now vying for a share of the global revenues and developed markets being slapped with a slew of regulations and mandates pertaining to nutrition products.
Over the last ten to fifteen years, sales in the global nutrition and supplements market have seen an unprecedented spike. This has encouraged a number of new players to step into the market with products that promise to be the elixir of youth, health, and vitality. According to the estimates of the Nutrition Business Journal report, the global nutrition and supplements market stood at US$96 billion as of 2012. A year later, it was approximately US$104 billion globally.
Going forward, the market is expected to show a CAGR between 6% and 7%. This rate of growth will be similar to that of developed market such as the United States whereas developing markets such as Asia-Pacific will exhibit an uptick in growth rates.
PMR upcoming reports on supplements market:
The global dietary supplements market will be driven by Asia Pacific to 2020, with encouraging growth in Latin America. www.persistencemarketresearch.com/market-research/dietary-supplements-market.asp
The vitamins supplement market will expand globally thanks to a larger geriatric population, preventative healthcare, and rising disposable incomes...www.persistencemarketresearch.com/market-research/vitamins-supplements-market.asp
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Weight Management Products to Exhibit Aggressive Growth:
Product categories within the global nutrition and supplements market are prone to much volatility on account of ever-changing health fads. Functional foods constituted over 30% of the global nutrition and supplements market in 2012. Natural and organic foods were yet another predominant category within the global nutrition and supplements market.
However, a shift in this trend is now palpable. The segment of preventative/proactive nutrition and supplement products is expected to show promising expansion. Weight management products are expected to bring about the next wave of profitability in the global nutrition and supplements market.
At the same time, consumers in developed countries such as the United States, Japan, and the United Kingdom are aging. Manufacturers are actively introducing products to cater to this age group as many of these consumers are also at a stage where they face a higher likelihood of being diagnosed with chronic diseases.
The clinical nutrition and supplements market, which comprises nutrigenomics and medical food, will have to contend with a number of regulatory hurdles and increasingly stringent regulations even in those markets that were earlier known for being 'flexible'.
Future Trends in the Global Nutrition and Supplements Market:
As things stand today, regulations and their enforcement remain disparate in different regions of the world. This has spawned a new kind of culture within the nutrition and supplements market. Business practices, ingredients, and products are often tailored to the regulatory environment in a particular region. For instance, if a particular ingredient is banned in the United States, suppliers will look for ways to sell it in emerging economies such as India or Brazil, where regulations are relatively less stringent. It thus becomes imperative to study the nutrition and supplements market closely from a regional perspective.
While the overall growth rate of the global nutrition and supplements market might not be exceptionally encouraging, strong growth specific within categories and sub-categories will be observed.
Consumers are more aware than they were before, and are also willing to spend more on nutrition and supplements. From the manufacturers' standpoint, this enthusiasm will be offset to some degree with regulatory shifts and product recalls. Supply disruption could be a possible consequence of these events. To ameliorate the impact of this, it is imperative for manufacturers to keep a tab on the latest trends.
In 2013 and 2014, many countries either introduced new regulations or tightened existing ones. Here are the major developments:
- China has recently raised the bar on the registration process and made enforcement stronger.
- ASEAN countries are in the process of formulating new regulations expected to come into force in 2015.
- Since 2014, products being labeled as 'supplements' or 'natural products' are now required to register mandatorily in Canada.
- New regulations for the nutrition and supplements market are underway in Brazil, which is the largest market in Latin America.
Fragmented Nature of Nutrition and Supplements Market Sets the Stage for M&As
Since 2011, a number of mergers and acquisitions have made the headlines in the global nutrition and supplements market. Pure play entities have been acquired by conglomerates in a bid to broaden their global (and regional) presence. Among the most notable M&Aswere the acquisition of New Chapter by P&G and the purchase of Alacer by Pfizer. Product recalls and
Consumer goods companies are investing more in their healthcare division, and this will further boost the global nutrition and supplements market. Over the last three years, we have seen Walmart and Costco expanding their own nutritional supplement labels.
Nutrition and Supplements Market Projections:
Persistence Market Research 's analysis of various markets within the larger nutrition and supplements industry provide pinpoint insights into market numbers and growth projections. Here's an overview:
- The global sports supplements market will exhibit a CAGR of 9.1% between 2014 and 2020, by which year it will stand at US$12,449 million. The sports supplements market was worth US$6,800.8 million in 2013.
- The global fatty acids supplements market will reach an estimated value of US$4,477.8 million by 2020. This market was worth US$ 1,912.0 million as of 2013, and will register a 13.1% CAGR from 2014 through 2020.
- The global mineral supplements market projections show that it will rise to US$14.5 million in 2020 from US$7.3 million in 2013. This translates into a 7.3% CAGR from 2014 to 2020.
- The global botanical supplements market is expected register a moderate CAGR of 7.5% from 2014 through 2020, rising to US$90.2 million by 2020.
- The global clinical nutrition market will experience steady growth at a modest CAGR of 4.1% from 2014 through 2020, by which year it will stand at US$48.6 billion.
- The global sports nutrition market is poised to reach US$37.7 billion by 2019, at a strong CAGR of 9% from 2013-19.
Source:Persistence Market Research