PRLog - April 28, 2014 - PITAMPURA, India -- The demand for the nutraceuticals has increased steadily in the span of last five years in various countries of the Asia Pacific region. This has been primarily because of the growing awareness amongst people about the importance of the healthy eating and diet-disease links. A substantial progress has been registered by the Asia-Pacific nutraceuticals industry over the period of past six years (2006-2012). The market for fortified products and nutritional supplements in different regions has evolved from largely being illness-specific to wellness and fitness oriented. In particular, India and China have led the market in terms of growth, with the revenues almost tripling in a decade. China is presently the second largest consumer and largest producer of the nutraceuticals in the world.
Asia-Pacific Nutraceuticals Industry
Asia-Pacific is the most densely populated region in the world and has been witnessing steady changes in the economic and social domains. The improving healthcare opportunities, falling death rates and increasing life longevity has led to fast ageing rate in countries such as Japan, South Korea and Australia which has been propelling the growth in the consumption of nutraceuticals in the Asia-Pacific. Additionally, increasing disposable incomes and growing middle class population have also been providing the necessary impetus to the growth of the nutraceuticals sector across the nations.
Japan has led the revenues of overall Asia-Pacific for the past seven years, accounting for a contribution of more than 40%. China has experienced a stupendous increase in the revenues, which has grown by 18.2% during 2006-2012, from USD 15,245.1 million in 2007. China is expected to overtake Japan as largest market of nutraceuticals as early as in 2014. Australia, South Korea and India constitute other prominent markets of this region.
The rising disposable incomes and middle class population have also supported the growth of the nutraceuticals services in this region. As the APAC region hosts the five most populous countries in the world, the opportunities are immense which is steadily being tapped by the increasing number of international market players. Although the markets in various prominent countries of this region are still highly fragmented; owing to the increasing health consciousness and gym-going culture, the nutraceuticals industry in Asia-Pacific will experience phenomenal growth in forthcoming years.
According to the research report "Asia Pacific Nutraceuticals Industry Outlook to 2017", the revenues of the major markets of Asia-Pacific region are expected to reach a cumulative figure of 175,278.5 million by 2017.
The report on “Asia-Pacific Nutraceuticals Industry Outlook to 2017” provides detailed overview on the nutraceuticals market in the Asia-Pacific region and discuss major countries in detail. The report encloses a comprehensive analysis of the various segments of the market reflecting the present scenario and future growth affected by changing industry dynamics in coming years. Additionally, the report also entails information about the market structure, segmentation and rational analysis of the macroeconomic factors, along with the profiles of the major market players of the nutraceuticals industry in different countries. The report will help industry consultants, companies and other stakeholders align their market centric strategies according to ongoing and expected trends in future.
source : http://www.kenresearch.com/