Nutraceuticals Market Opportunities and Forecast Assessment, 2014 - 2020
There is a sense of awakening throughout the world to endorse a healthier lifestyle and eliminate unhealthy food habits. People are engaging in personal research to structure their eating habits towards nutritionally rich food, and are self-appraising their habits to attain health stability. This has excavated a strong market for nutraceuticals and is expected to keep evolving over the coming years. Junk food, which was until recently at the helm of people’s desires, is now being avoided by a large chunk of health-conscious population. This prompts the need for healthy substitutes, and nutraceuticals make up for that vacuum in the market. The market is expected to thrive on the forces such as an increased awareness amongst people, sensitivity towards health, and the collective effort to alleviate diseases. The market is expected to inflate in Asia Pacific where people are desperate to change their lifestyle through quicker approaches for prevention of diseases.
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The market for nutraceuticals is segmented into two categories viz, type and geography. They have been further segmented to get a holistic view of the market.
The report gives an integral set of insights about the various market dynamics, and makes assertions with regards to the future opportunities, threats, and drivers in the market. The projections are in sync with the current trends which shall help in scrutinizing the market.
Asia Pacific Nutraceuticals Market: Trends and Prospects
Nutraceutical products act as efficient agents to tame obesity, enhance skin, and are even administered during cancer treatments. This places key vitality to the market for nutraceuticals which is expected to flourish on account of the immense acceptance of nutraceuticals. Moreover, the fitness and healthcare industry has complemented the growth of the market. People are deftly inclined towards exercising to tone their bodies, which is a huge boost to the industry. Moreover, nutraceuticals are used for preventive therapies, which has bolstered the demand in the market following which an increasing number of players aim to exploit the market gap.
The governments across various regions have strictly ordained the usage of natural ingredients in preserved and non-preserved food, which upticks the demand for nutraceuticals and strengthens the entire market. A handsome rise in the disposable income of people, and a scrupulous inclination towards healthy foods, collectively act as a major driver for the global nutraceuticals market.
The condescending attitude of certain groups of people towards the consumption of healthy foods could subtly obstruct the growth. The geographical disparities result in unawareness amongst people about health and wellness, which also hinders market growth. However, with yarded advancements such as the bioavailability of nutraceuticals, the market is expected to grow by leaps and bounds.
Asia Pacific Nutraceuticals Market: Geographical Outlook
The market in Asia Pacific is far behind Europe and U.S. that hail as the largest markets for nutraceuticals. This owes to the evident impetus given to healthcare across these regions, coupled with the stringent policies of the government to adhere to health standards. Delving further, Germany exercises the highest control over the market across Europe by reaping a heavy market share. In Asia Pacific, the trio of Japan, Brazil, and China has exhibited commendable market growth for the nutraceuticals industry. India, however, has shown a sluggish growth pattern due to multiple hindrances. The escalating disposable income and a stride in health awareness has been the contributor towards the growth of the market in Asia Pacific. Australia is another region with a voluminous success of the market for nutraceuticals.
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Asia Pacific Nutraceuticals Market: Competitive Analysis
The market players are expected to resort to a range of strategies in order to gain optimum market share. It is anticipated that the various players would make efforts to assert the authenticity of their products and work towards spreading greater awareness. There are immense opportunities for the market players to diversify their horizons and reach fruition. The key players include Pfizer, Nature’s Answer USA, Cadilla Healthcare, Omvita. APS, Numico, and Celestial Biolabs LtdMagnum.
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