Natural Health Products Market Scope
Natural health products (NHPs) are naturally occurring substances that are used to restore or maintain good health. They are often made from plants, but can also be made from animals, microorganisms and marine sources. Natural health products include Vitamin and mineral supplements, Homeopathic medicines, Plant and herbal remedies, Traditional medicines, and Probiotics. Natural health products (NHPs), such as herbal medicines, vitamins, and other supplements, are now a 3 billion dollar industry annually in Canada. It is estimated that more than 70% of Canadians use these products to prevent or treat illness as well as to promote health. North America and Europe continue to be the mainstay markets for natural food ingredients. They represent approximately 60 percent of the global market.
The Natural Health Products market study is segmented by Type (Vitamins and Minerals, Herbal Remedies, Homeopathic Medicines, Traditional Medicines and Probiotics and Other Products) and major geographies with country level break-up. According to AMA, the Global Natural Health Products market is expected to see growth rate of 7.2%
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Natural Health Products market throughout the predicted period.
Herbalife International (United States), Omega Protein Corporation (United States), Archer Daniels Midland (United States), Evonik Industries AG (Germany), Amway (United States), Nature's Bounty Co. (United States), Blackmores (Australia), United Naturals Food, Inc. (United States), Nutraceutical International Corporation (United States) and Naturex SA (France) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Natures Way (Canada), Jamieson (Canada), Arizona Natural Products (United States), Herb Pharm (United States) and Gaia Herbs (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Natural Health Products market by Type, Application and Region.
On the basis of geography, the market of Natural Health Products has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On May 2, 2019, Archer Daniels Midland Company had completed its acquisition of the Ziegler Group, a European industry leader in natural citrus solutions. The addition, combined with ADM’s recent acquisition of US citrus flavor innovator Florida Chemical Company, creates a global platform with the ability to serve customers worldwide with innovative citrus solutions.
On December 19, 2019, Archer Daniels Midland Company expand the reach of its starch portfolio to the Canadian market through a partnership with IMCD, a leading distributor of specialty chemicals and food ingredients, effective immediately. ADM texture solutions available to buyers in the Canadian market will include tapioca starch, corn starch and tapioca maltodextrin in addition to a range of other ADM solutions.
In Canada, NHPs and foods are regulated under the Food and Drugs Act (FDA) and its associated regulations. Health Canada is responsible for the establishment and enforcement of policies, regulations and standards relating to the health, safety, and nutritional quality of food in Canada. All-natural health products (NHPs) sold in Canada are subject to the NHP Regulations, which came into force on January 1, 2004.
Market Trend
- Demand for Clean Label Dietary Supplements
- Demand for Complementary and Alternative Medicine Products
Market Drivers
- Increased Health Consciousness amongst Consumers, Shift towards Healthy and Nutritional Food Options and a growing aging population is the key factors driving the demand for the market.
- Increasing Incidence of Lifestyle-Based Disorders, such as Cardiovascular Diseases (CVDs), Obesity, Osteoporosis, and Diabetes
Opportunities
- Consumer demand for healthier and more natural products with better efficacy are encouraging European companies to invest in research and development and look for natural ingredients.
- Canada’s Recent National Legalization of Recreational Cannabis
Restraints
- Fluctuating Raw Material Prices results in Expensive Products
- Consumer Concerns over Adulteration of Food and NHPs
- Unwanted Side Effects like Allergic Reactions
Challenges
- Supply-Demand Imbalance owing to Limited Supply of Natural Ingredients
- Stringent Government Laws & Regulations for Health and Food Safety
Analyst View
The Canadian natural health market has seen some significant moves in recent years. With the legalization of cannabis, globally-recognized regulations and a flurry of multinational investments, things appear to be shifting into high gear. Canadians buy roughly USD 1.2 billion of vitamins and supplements each year. For a country of around 37 million, that’s a per capita spend of around USD 32, which is less than half of what Americans spend.
Key Target Audience
Natural Health Products Manufacturers, Food & Beverage Industry, Healthcare & Pharmaceutical Companies, Research Organizations & Institutes, Traders/Exporters/Importers and Industrial Bodies & Associations
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
** Confirmation on availability of data would be informed prior purchase