New York, NY — (PRESS RELEASE JET) — 09/26/2017 — Digestive and heart supplement segment is projected to register a high CAGR during the forecast period
In 2017, the digestive and heart supplement segment is estimated to be valued close to US$ 90 Mn and is expected to expand at a CAGR of 8.5% over the forecast period to reach more than US$ 150 Mn by the end of 2025. This segment is estimated to create an absolute $ opportunity of close to US$ 5 Mn in 2017 over 2016, and incremental opportunity of a little more than US$ 80 Mn between 2017 and 2025.
Rising health awareness among consumers will create a positive impact on the digestive and heart supplement segment during the projected period
The digestive and heart supplement segment is anticipated to account for a relatively high revenue share by the end of 2025. This is attributed to a high demand for herbal supplements for application in digestive and heart products by adults in Australia & New Zealand. Increasing consumer inclination towards maintaining a healthy lifestyle has led to higher consumption of food and food ingredients with potential health benefits. Adults in Australia are more inclined towards herbal supplements as consumption of these supplements does not have any side-effects, aids in improving immunity, etc. Digestive and heart supplements are expected to gain more popularity in the herbal supplements market in the region as a result of the increasing demand for heart health supplements by consumers in Australia & New Zealand.
Increasing digestive and heart supplements product penetration through online retailing channels is a major factor driving segmental growth. Sales of digestive and heart supplements through e-Commerce is further anticipated to witness significant growth over the forecast period owing to the higher adoption of smartphones and increasing internet penetration in the markets of Australia and New Zealand. This expected growth is attributed to the easy availability of a wide range of products and ability of customers to compare prices of various products available in the market during online searches or through social networking platforms.
With increasing consumer demand for herbal digestive and heart supplements, key players are entering into partnerships/agreements and strategizing through acquisitions in order to increase their herbal supplements production capacity and are enhancing their distribution network to expand their footprint in the global market.
Consumers are rapidly shifting towards consumption of herbal supplements for prevention of health issues. A growing number of consumers are consuming herbal supplements to prevent chronic conditions such as cardiovascular disease. A large number of consumers are consuming health supplements to prevent common ailments such as digestive problems. Consequently, the demand for digestive and heart supplements to prevent diseases has shown robust growth in the last few years across Australia and New Zealand.
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Availability of pseudo herbal products is likely to hamper the growth of the digestive and heart supplement segment
One of the major restraints for the growth of the digestive and heart supplement segment is increasing consumer preference towards conventional supplements that show rapid results as compared to modern digestive and heart herbal supplements. The availability of pseudo herbal products in the market is a major challenge for manufacturers of digestive and heart herbal supplements. These are conventional herbal supplement products that are marketed as herbal supplements due to the presence of some herbal ingredients. Many consumers are unable to distinguish between herbal and conventional supplements. This results in a considerable number of consumers opting for pseudo herbal products, which is a major factor hampering the growth of the digestive and heart supplement segment in the Australia & New Zealand herbal supplements market.
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