It’s the supplement a day that keeps the doctor away. Or so think the world’s consumers, as people prefer to adopt a healthy lifestyle and preventive healthcare, reports international market research firm Persistence Market Research in a new global market study released in April 2017.
Such interest in staying healthy and avoiding urban lifestyle-related diseases such as diabetes, obesity and high blood pressure will drive an estimated 8 percent CAGR from 2016 – 2024, projects Persistence Market Research. Valued at U.S. $37 billion in 2016, the global natural health supplements market is forecast to reach U.S. $70 billion by 2024.
“Growing adoption of self and direct medical practices is propelling growth of the global natural health supplements market in the coming years. Furthermore, upsurge in demand for natural health supplements among an older population suffering from disorders related to joints and bones is likely to fuel growth of the global natural health supplements market over the coming years,” said Persistence Market Research.
In addition to retail, growing trends of digitalization and e-commerce platforms will significantly boost growth of the global natural health supplements market, the market research firm added.
“People have begun realizing the importance of preventive health measures and therefore are drifting towards choices that decrease the negative effects of such lifestyle diseases,” said Persistence Market Research.
“Natural health supplements act as a healthy alternative to prevent such diseases. This has led to an explosive growth in the market for natural health supplements globally. Moreover, due to the increasing penetration of the Internet, various health magazines and online forums such as Livestrong.com and nutraceuticalworld.com provide vital information to consumers regarding the health benefits associated with the intake of natural health supplements. This has had a positive effect on the global natural health supplements market.”