|
February 29, 2008: 12:00 AM EST
The global nutraceuticals market is predicted to rise to $187 billion by 2010, dominated by the US, Europe and Japan, which accounted for 86 percent in 2007. A report by Global Industry Analysts says the US accounted for 37 percent of sales in 2007, while Asia Pacific is the fastest growing market because of China and India and increasing wealth. Competition will increase, driven by factors such as price, safety, efficacy, packaging and brand loyalty. Greater consumer desire for leading a healthy life continues to drive sales. Other factors include an expanding elderly population, as well as escalating health care costs. The report says functional foods are a rapidly growing segment. Growth in dietary supplements is expected to slow, particularly in developed countries as the category fast approaches maturity levels.
Lorraine Heller, "Supplement Market Nears Maturity, Nutraceuticals Report", NutraIngredients, February 29, 2008, © Decision News Media
|
Domains
HEALTH & WELLNESS
Food & Nutrition
Other Food & Nutrition
Pills & Supplements
Geographies
Worldwide
North America
EMEA
Asia-Pacific
United States of America
Europe
China
India
Japan
Categories
Market News
Research, Studies, Advice
Trends
|