NEWSLETTER AUGUST 2020
The immune health supplements market is expected to grow at a CAGR of over 9% during the period 2019-2025.
The onset of COVID-19 in early 2020 has stimulated the demand and sale forecast for immune health supplements and the market is expected to a consistent growth due to the worldwide pandemic and its aftermath. Unlike the FMCG industry, the immune supplement market witnessed a spike in sales during Q1 2020. More than 50% of consumers have increased their consumption levels, and over 30% have planned to increase in the second half of 2020.
Herbal extracts are the fastest-growing group, which is expected to grow at a CAGR of over 12% from 2020-2025. Herbal immunity supplements such as our echinacea extract and garlic extract, expected to fuel additional sales with the growing trend of flexitarians and vegans.
The rising demand for turmeric extract - the global curcumin market size is expected to reach USD 151.9 million by 2027, expanding at a CAGR of 12.7%.
Product demand is expected to drive due to its increasing application in various industries such as food, cosmetics, and pharmaceutical. It possesses valuable anti-oxidation and anti-inflammatory properties, emerging as a go-to pain relief choice for patients suffering from arthritis and osteoarthritis.
In Europe, the market is anticipated to witness the fastest CAGR from 2020 to 2027 and is projected to reach USD 41.8 million in 2027. Health issues due to synthetic ingredients in medicines, food, and cosmetics are major factors, which influence manufacturers to adopt natural ingredients in product formulation, for curcumin-based health supplements as such.
Superfoods scope expands as consumers desire immunity-boosting – echinacea extract, citrus extract, rosehip extract, and vitamin C.
The COVID-19 pandemic is evolving eating behaviors, expanding the scope of the superfoods market. The market demand was turned to immunity products, with acerola and echinacea food supplements as main ingredients. As consumer awareness of vitamin and mineral synergies expands, demand for superfoods that aid in the absorption of beneficial compounds is propelling product development.
For instance, vitamin C remains a popular supplement offering standalone, however, consumers are starting to look for a combination of natural flavonoids such as rosehip, citrus, acerola to maximize the absorption of vitamin C.