DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/gvn2c7/natural_products) has announced the addition of the "Natural Products Market Report 2012" report to their offering.
This Key Note Market Report analyses the natural products industry in the UK. It calculates that the market is presently worth £750.4m. The market has failed to grow since 2007 and has declined by 12% over the 5-year period to 2011.
Key Note sub-divides the market into three principal categories: vitamins, minerals and supplements (VMS), alternative remedies and specialist supplements. The market value of all three segments shrunk over the period covered in this report. Key Note estimates that the sector for VMS is presently worth £364m, while the alternative remedies sector has a value of £198.4m and the specialist supplements sector has an estimated value of £188m.
The primary reasons behind the fall of the natural products market is the growing importance of own-label goods, which now account for 50% of all sales, as well as dwindling demand, which has been heightened by the economic crisis. Own-labels products offer consumers better value, and increasingly, equivalent quality, a potent mixture for consumers dealing with strained finances. However, on the whole, penetration of natural products has declined in the UK, meaning that consumers are using these goods less frequently.
Sales in the VMS sector are being driven by innovation. Although general multivitamins contribute the most to the category's value, manufacturers are increasingly introducing goods that target specific areas of the body and conditions, as well as products targeted at particular age groups and sexes. Key Note expects that this, combined with an ageing population, will return the sector to growth over the next 5 years.
The alternative remedies market is not culturally as popular in the UK as in Continental Europe. Moreover, value growth has been affected by the introduction of EU legislation that requires products to be licensed or prescribed by a registered herbal practitioner, which has reduced their availability. Furthermore, consumers prefer to rely on the National Health Service (NHS) which covers the cost of prescriptions rather than paying for medication themselves. However, plans by the Government to promote over-the-counter (OTC) medication in an effort to reduce the costs of the NHS is expected to revive the sector in the near future.
The specialist supplements category consists of slimming products and sports supplements. Although it remains important to be fit in the UK, the popularity of both types of products has fallen. Key Note attributes this to the fact that the segment is the most expensive of the three categories. Growing awareness of the health benefits of exercising has also resulted in consumers finding more natural ways to shed weight and tone up. Although the sector will experience positive value growth in 2012, due to promotions linked to the London Olympic and Paralympics Games that will boost sales of sports supplements, the segment is predicted to continue declining between 2012 and 2016.
Key Note anticipates that the natural products market will be worth £783.8m by 2016, after growing 4.6% over the next 5 years.
- Alliance Boots Holdings Ltd
- Bayer PLC
- Chefaro UK Ltd
- Galencia Group AG
- GR Lane Health Products Ltd
- Holland and Barrett Retail Ltd
- A Nelson and Co Ltd
- Seven Seas Ltd
- Vitabiotics Ltd
- Wassen International Ltd
- Wyeth Consumer Healthcare
For more information visit http://www.researchandmarkets.com/research/gvn2c7/natural_products
Source: Research and Markets