Views: 9 Author: Golden Horizon (Chengdu) Technology Co., Ltd. Publish Time: 2021-02-09 Origin: Golden Horizon (Chengdu) Technology Co., Ltd.
U.S. Herbal Dietary Supplements Market Size (Data Source: NBJ)
CBD, elderberry, mainstream products driving the growth of the US food supplement market.
The global dietary supplement market size was 147.8 billion U.S. dollars in 2019 and is expected to reach 228.19 billion U.S. dollars by 2027, with a compound annual growth rate of 5.5%. The dietary supplement market in the United States is expected to show an upward trend. By 2024, the US dietary supplement market is expected to reach 56.7 billion U.S. dollars.
The US dietary supplement market data is generally increased by several mainstream products, such as CBD. Although it is currently restricted by regulations, it is expected to increase in the next few years; the second product is elderberry, which improves immunity. , These two products will be the mainstream products driving the growth of US dietary supplements in the future.
China's vitamin and health supplement market has become the second largest market after the U.S.
In 2019, China's vitamin and health supplement market reached RMB 222.7 billion, becoming the second largest market after the United States. However, China's per capita consumption of health supplements still lags far behind that of developed countries. In 2019, the per capita expenditure on vitamins and health supplements was only US$18, compared with US$148 in the United States, which is 8 times higher than China. Mr. Zhang Chengwen said that with the new crown epidemic and the development of the big health industry, China's consumer market is growing rapidly, and there is still a lot of room for development in the future.
Under the influence of the epidemic, which raw materials are rejuvenated?
The global immune food supplement market is expected to be 15.1 billion U.S. dollars in 2020 and is expected to reach 22.5 billion U.S. dollars by 2027; the compound annual growth rate in 2020-2027 is 5.8%.
Dimensional minerals, probiotics, prebiotics, etc. are already well known to consumers, especially vitamins. It is estimated that these products will reach 8.1 billion US dollars in 2027, with a compound annual growth rate of 6.1%.
In addition to the raw materials we are familiar with, in the special situation of the epidemic, there are also some raw materials that can enhance immunity, which have gradually become prominent, such as elderberry, β-glucan, fungus extracts, Berberine, sulforaphane. In particular, berberine has grown rapidly in recent years, because some companies that continue to cultivate deeply are constantly tapping its application potential. Now berberine has been used in anti-aging research like NMN and has received more attention. Sulforaphane is also used as the raw material for this "rejuvenating buds". Ten years ago, sulforaphane was mainly used in anti-cancer research, and now it is also used in research to enhance immunity. In the future, there will be more room for growth of these new-sprouting functional raw materials.
The growth of probiotics and prebiotics has also exceeded expectations
Before 2019, the annual growth rate of probiotics is about 5%; the global market value of probiotics in 2019 is about 46.2 billion U.S. dollars, and is expected to reach about 75.9 billion U.S. dollars in 2026; from 2020 to 2026, the compound annual growth rate is about 7.35%, this increase also exceeded expectations. The driving forces for the growth of the probiotics market are mainly the following aspects:
1) The new crown epidemic has boosted the probiotic market;
2) Promotion and popularization of probiotics in the Asia-Pacific market;
3) Continuous innovation in functionality and stability.
In 2015, the prebiotic market was worth 3.31 billion U.S. dollars, and the compound annual growth rate of sales by 2023 is expected to be 11.6%, reaching 6.4 billion U.S. dollars; the inulin market will continue to dominate the prebiotic market, with sales expected to exceed 3.22 billion in 2023 US dollars, regulations will become the main driving force for the development of the inulin market.
Looking at the development of the industry, one must look at a trend-laws and regulations, because laws and regulations determine the trend of products. Before 2018, the market size of inulin is predicted to be 2 billion U.S. dollars, and Europe accounts for 80%. As the world's two major consumers, the United States and China have not yet started. In 2018, the US FDA approved the use of inulin as a dietary fiber on the label; in 2020, the US approved the GRAS certification of inulin from Jerusalem artichoke. The development of regulations has greatly promoted the development of inulin in the US market. At present, inulin can be used in infant products in European and American markets, but inulin, which is currently approved as a new food raw material in my country, is not suitable for infant products. Therefore, what changes will occur in the Chinese market will be driven by regulations.