Nutraceuticals: A Global Strategic Business Report
San Jose, CA (Vocus) September 27, 2010
Nutraceuticals have emerged as one of the brightest spots in a global market suffering from its worst economic crisis, as several first timers turned towards healthy food to reduce their medical bills. Initial apprehensions regarding the recession making huge dents into the nutraceuticals industry proved false as customers traded down from their regular diet towards nutraceuticals to boost their immune systems to restrict medical expenditure. Though the overall nutraceuticals market has been able to stave off any major recessional effect, the growth rate slightly tapered down as not all segments could cope with the recession in similar manner. Majority of the nutraceuticals that experienced a squeeze in sales during 2008 and 2009 were priced on the higher side. Among the segments, functional foods witnessed impressive growth as they provide cheaper alternatives to medical bills in the long run. On the other hand, sales for premium products such as organic and healthy food declined, as people traded down to more affordable nutrition.
In the long term, the market is forecast to continue its growth at impressive rates, driven by favorable trends and lifestyle changes in emerging markets including the Asia-Pacific, Middle East and Latin America, as stated by the new market research report on Nutraceuticals. The beauty industry is also emerging as one of the major growth drivers for the Nutraceuticals market. Further, the H1N1 flu outbreak fostered worldwide interest, creating consumer awareness in a more rapid way than any marketing blitzkrieg could provide.
The United States, Europe and Japan dominate the global market, accounting for a combined market share of more than 85%. The three regional markets are forecast to remain at the forefront of nutraceuticals market, both as producers and consumers, owing to high-income levels, greater awareness and widespread preferences for specialty nutritional products, and trends promoting preventive medicine and self-treatment. Spurred by the growing affluence, rising disposable income, and increasing awareness, particularly in China and India, the Asia-Pacific region is projected to see significant growth in the long term.
The Dietary supplements segment represents a relatively mature market, particularly in the developed markets. The herbal supplements sub-segment witnessed slow down in recent years owing to negative media environment, especially concerning drug interactions. Functional foods that constitute the faster growing segment in the nutraceuticals market, is rising in popularity, as the segment offers a cheaper alternative to supplements. Growth in the segment is more profound in categories such as cholesterol lowering dairy foods and digestive health products.
The nutraceuticals market is highly competitive and is driven by several factors such as price, safety, efficacy, packaging and brand loyalty, among others. However, maintaining consumer brand loyalty is emerging as a critical yet complex issue owing to the growing similarity among products and formulations. The report discusses key players in the global and regional nutraceuticals market including Bactolac Pharmaceutical, Inc., Archer Daniels Midland Company, BASF Human Nutrition, Bayer Healthcare AG, Ceapro, Inc., GlaxoSmithKline plc, Laboratoires Arkopharma SA, Mead Johnson Nutritionals, Inc., Natrol, Inc., Nestlé Nutrition, NBTY, Inc., Nutraceutical Corporation, Ocean Nutrition Canada, Perrigo Company, Valensa International and Wyeth Nutrition.
The report titled “Nutraceuticals: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., offers a comprehensive analysis of the industry structure, market drivers, issues, trends and competition. The study analyzes market data and analytics in terms of value sales for regions including the United States, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World. The market is analyzed by the following categories: Dietary Supplements (Minerals, Vitamins, Herbals, Non-Herbals and Others), and Functional Foods.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Nutraceuticals_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Web Site http://www.StrategyR.com
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