The report titled, “Philippines Nutraceuticals Market Outlook to 2022 – Composite Herbal Dietary Ingredients, Ginseng, Garlic and Ginkgo Biloba Based Herbal Supplements will Drive the Growth” by Ken Research recommends that the companies operating in nutraceuticals market can expand their market share and increase revenue generated by focusing on product innovations for vitamins and dietary supplements, launch new flavor variants for functional foods and beverages and undertake online channels of distribution for their products. The market is expected to register an overall positive CAGR of 5.0% by revenue during the forecast period 2017-2022.High prevalence of nutrient deficiency and other chronic diseases in the Philippines led to soaring demand for nutraceutical products in country.
Increasing Lifestyle Diseases: The Philippines observed a massive shift in diet and physical activity patterns resulting in increased prevalence of obesity, hypertension and related problems. Among Filipino youth, high blood pressure and other early signs of Cardio Vascular Diseases (CVD) are eminent, especially among those who have the low Body Mass Index (BMI) at birth. Moreover, in 2016, around 61.0% of mid-income Filipinos were observed lacking physical activities and spent a lot of time with their electronic gadgets. In accordance with the Sun Life Financial Asia Health Index 2016 survey on Asians’ attitude towards healthy and active living, Filipinos were among the highest proportion who don’t exercise regularly due to lack of personal time, lack of motivation and distractions of modern life.
Increase in Health Awareness and Significance of Vitamins: Rising awareness for mental and physical health conditions in the Philippines has further given a boost to the country’s nutraceuticals market. In accordance with CIAWF (Central Intelligence Agency’s World Fact-book), the Philippines ranked 161 out of 224 in the year 2016 in terms of average life expectancy indicating the state of poor mental and physical health in the country. In addition to this, Anemia and Vitamin A deficiency in the Philippines were witnessed to continue to affect a substantial proportion of children as well as women, which led increased sales of Vitamin A and iron supplements.
Growing demand for Herbal Supplements: Traditional herbal medicines have gained market recognition in Philippines which involve the use of herbal plants. Herbal and traditional ingredients can be broadly sub-segmented into dietary supplements, garlic, ginkgo biloba, ginseng and others. In addition to this, majority of the sales in the country took place for medicated skin care and medicinal teas. One of the most commonly used herbal supplement in the country is ginseng, which is distributed across the entire country in the form of liquid, powders and capsules. It is considered to be a very useful an energizer, normalize and stress reducer.
Key Segments Covered
- Vitamins and Dietary Supplements:
- By Type (Vitamins, Dietary Supplements, Paediatric Vitamins and Dietary Supplements and Tonics)
- By Type of Distribution Channel (Drugstores / Parapharmacies, Direct Selling and Internet Selling, Other Healthcare Specialist Retailers, Supermarkets and Hypermarkets)
- By Type of Fish Oils/Omega Fatty Acids (Plant Based Oils, Cod Liver Oil and Other Marine Based Oils)
- By Type of Vitamins (Multivitamins and Other Vitamins)
- By Positioning of Multivitamins (Teenagers, Men, Women, Pregnancy, Elderly and Others)
- Functional Beverages:
- By Product Category (Carbonates and Energy Drinks, Concentrates and Hot Drinks, Fruit/Vegetable Juices, Sports Drinks and Others and Bottled Water)
- By Channel of Distribution (Hypermarkets & Supermarkets, Independent Small Grocers, Convenience Stores, Forecourt Retailers and Other Grocery Retailers)
- Functional Foods:
- By Sale of Functional Foods (Baby Food, Dairy, Confectionery, Sweet Biscuits, Snack Bars and Fruit Snacks; and Breakfast Cereals),
- By Channel of Distribution (Hypermarkets & Supermarkets, Independent Small Grocers, Non Grocery Specialists, Convenience Stores, Direct Selling, Forecourt Retailers and Other Grocery Retailers)
Key Target Audience
- Nutraceuticals Manufacturers
- Nutraceuticals Distributors
- Government Agencies
- Vitamins and Dietary Supplements Companies
- Functional Foods Companies
- Functional Beverages Companies
Time Period Captured in the Report:
- Historical Period: 2012-2017
- Forecast Period: 2018-2022
Companies Covered:
- Vitamins and Dietary Supplements:
- United Laboratories Inc.
- USANA Health Sciences Inc.
- Pfizer Inc.
- DMI Medical Supply Co. Inc.
- Tynor Drug House Inc.
- Abbott Laboratories Inc.
- Pascual Pharmaceuticals Corporation
- Natrapharm Inc.
- ATC Health Care
- Hovid Berhad Philippines
- Daewoong Pharma
- Others (Menarini, Trianon Inc., Merck Inc. and Hi Eisai Pharm)
- Functional Beverages:
- Coca Cola Co.
- Mondelez International Inc.
- PepsiCo Inc.
- Del Monte Pacific Ltd.
- Asia Brewery Inc.
- Zest-O Corporation
- Functional Foods:
- Nestle SA
- Reckitt Benckiser
- Yakult Honsha Co. Ltd.
- San Miguel Corporation
- JG Summit Holdings Inc.
- Fonterra Co-operative Group Ltd.
- Mondelez International Inc.
Key Topics Covered in the Report
- Executive Summary
- Research Methodology
- Philippines Nutraceuticals Market Overview and Genesis
- Philippines Nutraceuticals Market Size
- Philippines Nutraceuticals Market Segmentation
- Philippines Vitamins & Dietary Supplements Market
- Philippines Functional Beverages Market
- Philippines Functional Foods Market
- Trends and Developments in Philippines Nutraceuticals Market
- Issues and Challenges in Philippines Nutraceuticals Market
- Regulatory Landscape in Philippines Nutraceuticals Market
- Entry Barriers and Pre-Requisites to Enter in Philippines Nutraceuticals Market
- Philippines Nutraceuticals Market Future Outlook and Projections, 2017-2022E
- Analyst Recommendations
To know more, click on the link below:
https://www.kenresearch.com/philippines-nutraceuticals-market-future.html
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