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Growth in Sales of Heart Health Supplements Market to Push Revenue Growth in the Global Market
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The higher availability of products aiding specific health needs and increased ease of access are some of the main factors for the growth of heart health supplements market. In recent years, the market has witnessed substantial growth, and this trend is anticipated to continue over the forecast period of 2020-2030, at a significant CAGR of 4.5%.
Key Takeaways from Heart Health Supplements Market Study
Customer preferences have been influenced by natural products, reason being, growing rate of the population suffering from various diseases and being allergic toward synthetic products. Thus, botanical supplements, as ingredients, are expected to witness a CAGR of 5%, owing to increased consumer awareness regarding the adequacy of natural products and health benefits associated with them.
North America is dominating the global heart health supplements market with the highest market value share of 45%, owing to increased awareness among consumers regarding preventive healthcare.
Online retail sales of heart health supplements are expected to exhibit a high value CAGR of 6.6% over the forecast period, attributable to growing Internet penetration and quick seek out deals for choosing price and quality-specific products.
The liquid form of heart health supplements is expected to exhibit a value CAGR of 4.8% over the forecast period, owing to pill fatigue, which is expected to create a change in the delivery and dosage of supplement products by manufacturers.
The coronavirus pandemic has shifted the focus of people with heart disease to a preventive, rather than reactionary mindset toward overall health.
The well-being of the lungs and the heart are important for lowering the risk of mortality. Thus, the heart health supplements market is expected to witness an upward surge in the near term.
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Global Heart Health Supplements Market: Competitive Landscape
Leading manufacturers in the global heart health supplements market space are carrying out various expansion strategies by acquiring companies operating in the consumer health business, in order to increase their market presence along with increasing product portfolios.
In June 2020, Chr. Hansen Holding A/S acquired UAS Laboratories LLC to strengthen its human health business.
In addition, key players in the global heart health supplements landscape are focusing on launching new products in line with the latest market trends to attract more customers and increase their customer base.
In 2020, Herbalife Nutrition Ltd. launched Beta Heart with OatWell that reduces and maintains cholesterol levels in the blood for a healthy heart.
In 2019, Abbott Laboratories expanded its line of Ensure products by launching vegan-friendly options for consumers.
In May 2018, Amway India launched Nutrilite Traditional herbs to increase its product offerings for customers.
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