The global immune health supplements market is projected to register a CAGR of 7.4% during the forecast period.
The growth of immune health supplements is primarily driven by consumer know-how regarding their daily health issues, along with an increase in the popularity of wellness trends. Furthermore, the preference for personalized nutrition is one of the key market trends, which may further stimulate market growth. The trend of personalized nutrition is growing, particularly among individuals with gut-related medical conditions, where generic treatment is not effective.
Developed markets in Europe, such as the United Kingdom, Germany, and France, are discovering the untapped segment of customized products based on health claims.Moreover, the expanding distribution channels for these products ensure the high availability of products in the market.On the other hand, across Europe, apart from the adult consumers, the aging population is fueling the demand for immunity-based health supplements to prevent or overcome the existing health conditions.
Key Market Trends
Increasing Healthcare Costs and Growing Dependence on Supplements
The global marketplace has witnessed a paradigm shift from curative practices to preventive management in healthcare, making it a prime growth factor for the market studied.Rising preference for health supplements to control the increasing healthcare costs is likely to positively affect the market studied.
The introduction of new delivery formats, scientific evidence to support the claims, and increased consumer awareness are expected to fuel the sales of health supplements.On the other hand, the changing consumer preferences across the world has led the manufacturers to adopt a personalized approach to healthcare by investing in preventive products and services to deal with gut and other simpler metabolic disorders. Furthermore, the healthcare costs are substantially high in countries, such as the United States, due to higher per capita out-of-pocket spending on healthcare. Such trends have prompted consumers to opt for an alternative, thus increasing the demand for health supplements.
Asia-Pacific is Expected to Witness Significant Growth
Over the past years, numerous national and international companies have entered the Asia-Pacific region, citing the growth potential attached to each of the developing economies. The growth in the population, along with increasing purchasing power, has eventually facilitated the growth of the health supplement industry. The Asia-Pacific region is both a source of raw materials, such as ginkgo Biloba, and an inspiration for new product lines, such as herbal tonics and drinks based on traditional Chinese medicine and Indian Ayurveda.
As compared to western counterparts, there is a growing trend for self-medication in the region, thus significantly boosting the OTC market. Furthermore, the popularity of traditional products, such as Ayurveda, has attracted global and regional investors to the Asia-Pacific region, where they are focusing on the exports to demand centers, such as Europe and the United States. Countries, such as China, India, Vietnam, and Indonesia, have structured their digital infrastructure investments, making e-commerce a key channel for consumer health product distribution.
Competitive Landscape
The global immune health supplements market is fragmented and competitive in nature, which has witnessed a strong demand for new products, with the inclusion of natural, plant-based, and organic ingredients. The major players operating in this segment are thriving for their market shares, with new product developments as one of the most adopted strategies, followed by mergers, acquisitions, and expansions.
Major players operating in the global immune health supplements market are Amway Corp., Glanbia, Bayer AG, Himalaya Drug Company, and NOW Foods, among others.
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