HEALTH SUPPLEMENTARY FOOD OEM AND ODM MARKET ANALYSIS
Product launches are expected to propel the market growth during the forecast period
The increasing number of product launches by manufacturers is expected to drive the global health supplementary food OEM and ODM market growth during the forecast period. For instance, in April 2020, Vitality Wellness, a New Zealand-based company, launched an immune health supplement made from blackcurrants addressing the nutritional demands amid the COVID-19 outbreak in the country.
Inorganic growth strategies such as acquisitions is expected to drive the market growth during the forecast period
Market players are focused on inorganic growth strategies such as acquisitions, collaborations, and distribution agreements to strengthen their product portfolio and market share. For instance, in February 2018, Kolmar Korea acquired CJ HealthCare, a health foods and drug maker company, for US$ 1.2 billion. CJ HealthCare, which makes South Korea\'s most popular anti-hangover drink, is expected to help Kolmar Korea to expand its product portfolio in the market.
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