ALTAPHARMA MARKET ANALYSIS

Altapharma Market, By Product Categories (Vitamins and Minerals, Dietary Supplements, Herbal and Natural Products, Baby and Child Nutrition, Beauty and Skincare Supplements, and Others (Specialty Health Products, Sports Nutrition, among others)), By Application (Immune Support, Bone and Joint Health, Heart Health, Energy and Vitality, Skin and Hair Health, and Others (Cognitive Health, Digestive Health, among others)), By Age Group (Children, Adult, and Geriatric), By Packaging Types (Bottles and Jars, Blister Packs, Sachets and Stick Packs, Liquid Formulations, and Softgels and Capsules), By Packaging Size (Single-Dose Packets, Small Medium and Large Bottles, and Bulk Packs), By Distribution Channel (Supermarkets and Hypermarkets, Pharmacies, E-commerce, Others (Health and Wellness Stores, Specialty Nutrition Stores, among others)), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Global Altapharma Market- Regional Insights

North America is expected to be the largest market for altapharma during the forecast period, accounting for over 40.5% of the market share in 2023. The growth of the market in North America is attributed to increasing inorganic activities such as acquisition by major market players in the region. For instance, on July 25, 2023, Biofarma S.r.l. a nutraceuticals company acquired U.S. Pharma Lab, Inc. a leading CDMO specialized in the custom development, manufacturing and distribution of innovative neutraceutical products including probiotics, vitamins, minerals, supplements, and premium dietary ingredients.
Europe market is expected to be the second-largest market for altapharma, accounting for over 25.2% of the market share in 2023. The growth of the market in Europe is attributed to rising prevalence of chronic diseases and favorable government initiatives in the region.
Asia Pacific market is expected to be the fastest-growing market for altapharma, with a CAGR of over 10.9% during the forecast period. The growth of the market in Asia Pacific is attributed to the large patient pool, increasing healthcare expenditure, and improving healthcare infrastructure in the region.