Health supplementary food is recommended for patients with chronic disease conditions in order to combat the weak immune system, which affects eating habits and results in drastic weight loss. The increasing prevalence of chronic diseases such as diabetes and chronic kidney disease is increasing risk of malnutrition, which in turn is expected to drive the global health supplementary food OEM/ODM market growth. For instance, the rising prevalence of malnutrition is driving growth of the global health supplementary food OEM/ODM market. According to Feeding America 2015, around 2 million people suffer from starvation in the U.S, which includes 13 million children.
The global health supplementary food OEM and ODM market 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).
Figure 1. Global Health Supplementary Food OEM and ODM Market Share (%) in Terms of Value, By Region, 2019
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.
Figure 2. Global Health Supplementary Food OEM and ODM Market Share (%), by Product Type, 2020
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.
|Base Year:||2019||Market Size in 2020:||US$ 11,655.7 Mn|
|Historical Data for:||2016 to 2019||Forecast Period:||2020 to 2027|
|Forecast Period 2020 to 2027 CAGR:||7.8%||2027 Value Projection:||US$ 19,771.2 Mn|
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
|Restraints & Challenges:||
Global Health Supplementary Food OEM and ODM Market – Impact of Coronavirus (Covid-19) Pandemic
The COVID-19 pandemic is affecting clinical trials drastically. According to a survey conducted by Medidata Solutions, Inc. (an American technology company, which develops and markets software as a service for clinical trials), on April 23, 2020, 63% of survey respondents reported that they stopped recruiting new patients for ongoing clinical trials and 43% of the respondents have postponed their studies.
Furthermore, ongoing clinical trials need to be conducted by healthcare facilities and researchers by adhering to the following safety measures:
Global Health Supplementary Food OEM and ODM Market: Restraints
The major factors restraining growth of the health supplementary food OEM and ODM market are side effects and complications caused by products indicated for health supplementary food OEM and ODM. For instance, according to a study published in the scientific journal, Annals of Internal Medicine in December 2013, regular vitamin use increased with increase in income. Moreover, majority of the population earning less than US$ 24,000 per year did not take vitamins, whereas 55% of the population earning more than US$ 60,000 and more per year took vitamins regularly.
Lack of awareness regarding healthcare, diet, and proper nutrition balance in low-and middle income economies is another major factor, which is expected to hinder growth of the global health supplementary food OEM and ODM market over the forecast period. Rural areas in low-and middle income economies such as Africa and Asia Pacific have very low awareness about nutritional products and diseases associated with the nutritional deficiencies, which is expected to be a major reason leading to slow adoption of health supplementary foods OEM and ODM production in such regions, thereby hindering the market growth.
Major players operating in 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.
Health supplementary foods are the ingredients or elements, which add nutrients to the diet. Such supplements lower the risk of health problems such as osteoporosis or arthritis, intestinal diseases, diabetes, chronic kidney disease, and others. For instance, according to the Chronic Kidney Disease 2019 report published by the Centers for Disease Control and Prevention (CDC), in 2019, around 37 million adults in the U.S. (15% of the total adult population) suffered from chronic kidney disease (CKD).
Health supplementary food plays a crucial role in reducing complications associated with certain chronic conditions such as type 2 diabetes and chronic kidney disease (CKD). For instance, according to the International Diabetes Federation (IDF), in 2019, 463 million adults across the globe in the age group of 20 to 79 had diabetes and the number is expected to reach 700 million by 2045, resulting in 51.2% increase between 2019 and 2045. As per the International Diabetes Federation (IDF), around 374 million people worldwide are at a higher risk of developing type 2 diabetes.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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