About Natural Health Products
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.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.2% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Natural Health Products market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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 coverage are Natures Way (Canada), Jamieson (Canada), Arizona Natural Products (United States), Herb Pharm (United States) and Gaia Herbs (United States).
Segmentation Overview
AMA Research has segmented the market of Global Natural Health Products market by Type (Vitamins and Minerals, Herbal Remedies, Homeopathic Medicines, Traditional Medicines and Probiotics and Other Products) 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). If we see Market by Form, the sub-segment i.e. Liquid will boost the Natural Health Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Offline (Health Food Stores, Pharmacies, and Grocery Stores) will boost the Natural Health Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Pregnant Women will boost the Natural Health Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Plant will boost the Natural Health Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Demand for Clean Label Dietary Supplements and Demand for Complementary and Alternative Medicine Products
Market Growth 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. and Increasing Incidence of Lifestyle-Based Disorders, such as Cardiovascular Diseases (CVDs), Obesity, Osteoporosis, and Diabetes
Challenges:
Supply-Demand Imbalance owing to Limited Supply of Natural Ingredients and Stringent Government Laws & Regulations for Health and Food Safety
Restraints:
Fluctuating Raw Material Prices results in Expensive Products, Consumer Concerns over Adulteration of Food and NHPs and Unwanted Side Effects like Allergic Reactions
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. and Canada’s Recent National Legalization of Recreational Cannabis
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.
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
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.