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Philippines Nutraceuticals Market is Expected to Reach PHP 261 Billion in Terms of Revenues by 2022: Ken Research
One of the key factors that would shape the nutraceuticals market within Philippines is the consumers' trend towards natural and organic ingredients functional food and beverage products instead of artificial ingredients such as sweeteners and colorings. In addition to this, increasing consumption of green tea, catechins for their anti-oxidant, anti-aging, anti-cancer and skin health properties will drive the demand for functional foods and beverages in future.
Apart from taking care of their health, Filipinos are also concerned about the way they look. This has further boosted the total number of gym-goers across the country. This growing health trend in the country has encouraged people to consume nutraceutical products like protein bars, whey protein powders, amino-acid protein powders and supplements even at premium prices. Some of the major best-selling protein bars in the Philippines include MuscleTech Nitro-Tech Crunch Muscle Building Protein Bars, Kind Bars, Rxbar Protein Bars, Nature Valley Protein Chewy Bars, Think Thin Protein Bar and others. Moreover, this trend is expected to continue in future as well, thereby positively impacting the sale of nutraceuticals in Philippines .
Analysts at Ken Research in their latest publication " believe that nutraceuticals market is in its early growth stage and is expected to further expand through brand enhancements, market promotions, spreading awareness about functional foods in respect with chronic diseases, collaboration with doctors, setting up of foreign manufacturing units and boosting omega 3 and fatty acid supplements. The market is expected to register a positive CAGR of 5.0% in terms of revenue during the forecast period 2017-2022.
The report focuses on overall market size for Vietnam nutraceuticals market, market segmentations on the bases of dietary supplements, functional food & beverages and distribution channels, dietary supplements sub-segmentation by type of supplements, functional foods and beverages sub-segmentation by product category.
The report also covers Government regulations for nutritional and dietary supplements in Korea, import and export scenarios of nutritional and dietary supplements in Korea, trends & developments in the market and competitive landscape of major players in Korea nutraceuticals market. The report concludes with market projection for future and analyst recommendation highlighting the major opportunities and cautions.
The market size of the nutraceuticals industry in Thailand has witnessed an increasing trend in the revenue growth during the period of six years (2012-2017). Health and wellness trends in Thailand acted as major driver for the nutraceuticals market in the country. The market has witnessed an increase in beauty and weight management supplements sales. Kalow weight loss supplements and B5 dietary supplements are popular products for weight loss in Thailand .
Australia Nutraceuticals market is segmented on the basis of three major segments- by dietary supplements, by functional foods and beverages market and by distribution channels. The dietary supplements segmentation is sub-segmented on the basis of types of supplements. Functional Foods and beverages market is further sub-segmented on the basis of food category.
The rising awareness about health benefits derived from nutritional supplements is one of the major drivers for growth of nutraceuticals market in China . Increasing purchasing power has provoked the Chinese population to be more health conscious and adopt a healthy diet routine inclusive of nutritional supplements. The example of this can be stated in the form of introduction of mood enhancing functional beverages such as Scream and gender specific drinks such as He & She, both native to Chinese nutraceuticals market alone.
Ankur Gupta
Head Marketing, Ken Research Pvt Ltd.
Ankur@kenresearch.com
+91-9015378249