Health Supplementary Food OEM and ODM Market to Surpass US$ 19,771.2 Million by 2027
Global Health Supplementary Food OEM and ODM Market, By Nutrition Type (Enzymes, Pre & Probiotics, Meal Replacements, and Diet Supplements), By Formulation (Capsules, Tablets, Granules, Liquid, and Softgels), By Packaging Type (Bottle Packaging, Containers & Jars, Gastrointestinal Diseases, Lamizip Packaging, Three Sided Seal Pack, Stick Packaging, Blister Packaging, Box Packaging, and Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 11,655.7 million in 2020 and is expected to exhibit a CAGR of 7.8% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Product launches by manufacturers is expected to drive growth of the global health supplementary food OEM and ODM market during the forecast period. For instance, in 2017, Novarex launched rexflavone in the U.S. Rexflavone is a novel dietary ingredient, which various companies can use synergistically with other supporting health nutrients to provide bone support and weight loss.
Global Health Supplementary Food OEM and ODM Market – Impact of Coronavirus (Covid-19) Pandemic
Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries across the globe with the World Health Organization declaring it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus (COVID-19) has resulted in more than 5 million infected individuals worldwide as of June 2020.
COVID-19 can affect the economy in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) by its financial impact on firms and financial markets. Supply chains and manufacturing activities in India, China, and the U.S. are being disrupted due to global lockdowns while many countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.
Browse 30 Market Data Tables and 20 Figures spread through 175 Pages and in-depth TOC on 'Health Supplementary Food OEM and ODM Market'- Global Forecast to 2027, Global Health Supplementary Food OEM and ODM Market, By Nutrition Type (Enzymes, Pre & Probiotics, Meal Replacements, and Diet Supplements), By Formulation (Capsules, Tablets, Granules, Liquid, and Softgels), By Packaging Type (Bottle Packaging, Containers & Jars, Gastrointestinal Diseases, Lamizip Packaging, Three Sided Seal Pack, Stick Packaging, Blister Packaging, Box Packaging, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in the global health supplementary food OEM and ODM Market, click the link below:
Major companies are focusing on agreements and collaborations in order to strengthen their position in the market, which is expected to propel the market growth during the forecast period. For instance, in 2017, Orion Health and NOVAREX CO., Ltd entered into a strategic business agreement. Under this agreement, Orion Health will target the domestic health supplement market in South Korea and countries such as China and South East Asia.
Key Takeaways of the Global Health Supplementary Food OEM and ODM Market:
- The global health supplementary food OEM and ODM market is expected to exhibit a CAGR of 7.8% during the forecast period, owing to rising number of government initiatives focused on health supplementary food research and development. For instance, in May 2020, Danone’s nutrition health arm, Nutricia, granted US$ 1.1 million for global nutrition research program, a clinician-initiated research project, in 16 countries across the world, to define guidelines for nutritional care for COVID-19 patients.
- Among nutrition type, the enzymes segment accounted for the largest market share in 2019, owing to rising lifestyle diseases, particularly intestinal diseases, which is the major factor responsible for growth of the enzymes segment. For instance, according to National Institute of Diabetes and Digestive and Kidney Diseases, in 2014, the prevalence of digestive diseases was found to be 60 to 70 million in the U.S.
- Among formulation, the capsules segment accounted for the largest market share in 2019, owing to the higher bioavailability. For instance, in August 2020, Prorganiq, a provider of natural and organic supplements, launched '24-in-1 Mega Superfoods'. This product packs a powerful formula of 24 different essential greens, veggies, fruits, and herbs into a single capsule.
- Among packaging type, the bottle packaging segment accounted for the largest market share in 2019, as plastic bottle is light in weight and has good mechanical properties. The good mechanical properties of the plastic bottle packaging material makes it easy for molding and packaging operations, and high-speed automation of food packaging, which is expected to drive the segment growth over the forecast period.
- Key players operating in the global health supplementary food OEM and ODM market include Cosmax Inc., Kolmar Korea, Japan Supplement Foods Co., Ltd., Health Sources Nutrition Co., Ltd., Goerlich Pharma GmbH, API Co., Ltd., Syngen Biotech Co., Ltd., OriBionatureSdnBhd, Nutricare Co.,Ltd, and NOVAREX Co., Ltd among others
