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194 posts categorized "Consumer Health"

July 30, 2014

Premium Private Label Vitamins and Dietary Supplements to Capture Greater Market Share

Mark StrobelAnalyst Insight by Mark Strobel - Consumer Health Analyst

The US$206 billion global consumer health market is highly competitive. In 2013, the top ten companies determined just 25% of retail value share, with the next 25% split between more than 80 additional companies. The vitamins and dietary supplements (VDS) market is especially fragmented, with the three leading companies, Amway Corp, Pfizer Inc and NBTY Inc, combining for just 11% of global retail value sales. The growing presence of private label is intensifying the cutthroat competitive nature of the consumer health market. Though particularly strong among over-the-counter remedies (OTC), more consumers are turning to private label VDS. As private label VDS portfolios evolve from bare-bones economy goods to include high quality, value-added products with non-genetically modified organism (GMO), gluten free, organic, and vegetarian and vegan options, they will capture a greater share of the market by appealing to those consumers seeking premium supplements.

Private Label Presence in Consumer Health

Private label continues its rapid growth in consumer health, achieving a CAGR of 8% to reach retail value sales of US$13.9 billion in 2013. Significantly outpacing industry growth, private label accounts for a greater share of consumer health sales each year. While the US is the primary private label market with retail sales of US$11.2 billion in 2013, these products are gaining traction in other regions, particularly Australasia and Western Europe. The extensive retail chains in these developed regions have the infrastructure to outsource manufacturing, distribute, and provide an eye-catching in-store presence for these products. However, private label continues to have by far the strongest presence in the US, holding 19% retail value share in consumer health in 2013, compared to 5% in Western Europe and 3% in Australasia. Private label retail value share is minor in the emerging regions Asia Pacific, Eastern Europe, Latin America and Middle East and Africa with a share below 1%.

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July 17, 2014

Prospects for Fish Oils and Omega Fatty Acids in China

Mark StrobelWith Mark Strobel, Consumer Health Analyst

China is a promising market for the consumer health industry, with consumer expenditure on health goods and medical services expected to grow by 56 percent between 2013 and 2018. Vitamins and dietary supplements, especially fish oils and omega fatty acids are among the strongest prospects for the country. The average adult in China consumes only one-quarter of the recommended daily intake of DHA and EPA which is found in these supplements.  Although the regulatory infrastructure for dietary supplements in China is notoriously strict, proposals are in place to change the process.

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Techweek Chicago 2014 Recap

David McGoldrickAnalyst Insight by David McGoldrick - Research Associate

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Techweek Chicago was held in Chicago over 23-28 June. The event centred on new technological advances that are disrupting nearly every area of commerce. Every industry – from finance and health to packaged food and tourism – is being impacted by these technological developments. The event was a chance to discuss and present on what has occurred so far and on new ideas in the pipeline.

Beacons and Mobility Create New Possibilities

Mobility was a big topic at the conference, with presenters discussing the infiltration of electronics into all aspects of life and how this will create smarter consumers, businesses and cities. Ray Velez, Global Chief Technology Officer at Razorfish, explained that growth in the number of internet-enabled devices sold will soon outpace growth in the number of children born each year. A panel on the future of location-aware marketing discussed how these internet-enabled devices (especially the combination of beacons and smart phones) could be used to enable customers to see reviews of products simply by standing in front of them. These devices could also let consumers know that items they have previously viewed online are available in the store they just entered. Others cited their potential usage in high-end boutiques and hotels, which will enable employees to recognise loyal customers and provide a personalised level of service.

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July 10, 2014

Consolidation Pushes Ahead in Sports Nutrition

ChrisSchmidtAnalyst Insight by Chris Schmidt - Consumer Health Analyst

View Chris Schmidt's profile on LinkedIn

With sports nutrition poised to outgrow all other major consumer health categories through 2018, it is comes as no surprise that a growing number of consumer-focused manufacturers are gaining interest in the category. Within the last six months, Dymatize and Cytosport, two of the most established players in the category’s core and emerging mainstream consumer demographics, have been snapped up by packaged food companies, an industry with substantial overlap that could be poised to become a major force in sports nutrition.

Sports Nutrition to Lift Industry Growth

Though it accounts for just 4% of the US$206 billion global consumer health industry, sports nutrition’s impressive growth in the last decade has turned it into a major supplement category. From 2008 to 2013, the category grew by 8% annually (in constant, fixed 2013 terms) to US$8.8 billion. In 2014, Euromonitor International expects growth of nearly 10%, as both established markets like the United States and Australia and rapidly growing middle-income economies like India and China continue their impressive recent runs.

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July 7, 2014

Hormel Acquiring Muscle Milk Highlights Importance of Protein Trend

 

Hormel’s acquisition of Muscle Milk manufacturer Cytosport is another in a series of ambitious moves by the company in recent years and highlights the importance of sports nutrition as a category of consumer health. The ready to drink protein segment will grow twice as fast as the overall sports nutrition category and massive opportunities exist outside of the US where this category is untapped. This could be the first of many acquisitions in sports nutrition as protein continues to be hot trend in packaged food and drink. 

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June 27, 2014

Correcting Contradictions: Restoring OTC Coverage to Health Spending Accounts in the US

Mark StrobelAnalyst Insight by Mark Strobel - Consumer Health Analyst

Ballooning health care expenditure is an increasingly large burden for economies around the world. The problem is especially worrisome in the US, in part due to the high price of health goods and medical services. As a result, the US governing agencies are enacting policies that attempt to reign in health care spend and reduce costs. This objective is a cornerstone of the Affordable Care Act (AFA), as the name implies, which was signed into law in March 2010. However, under the AFA, the vast majority of over-the-counter remedies (OTCs) are no longer eligible for purchase with tax exempt health spending accounts. This effectively raises the price of these products, which is a direct contradiction of one of the primary goals of the AFA.  Restoring OTC coverage is a key legislative goal for several organizations and political representatives, and while it will correct an inconsistent approach to the health care policy, its overall impact on the US OTC market will likely be limited.

A Growing Hardship

Burgeoning health care expenditure is a growing issue worldwide. Consumers spent US$3.9 trillion globally on health goods and medical services in 2013, which is up 3% year-on-year and more than double from just 20 years ago (using constant terms to discount inflation). The US is particularly afflicted by this hardship, accounting for 60% of the global health care expenditure or US$2.4 trillion. According to the World Bank, health expenditure derives 17.9% of the US gross domestic product, which is most of all countries tracked. On a per capita basis, consumers in the US spent on average US$7,491 on health goods and medical services in 2013, or thirteen times more than the global average. This number, already up nearly US$700 from 2008, is only expected to grow with the aging population and the increased prevalence of non-communicable chronic diseases.

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June 15, 2014

Euromonitor to Speak at XV FederSalus Convention

Marchio FederSalusDate: 26th June, 2014

Location: Milan, Italy

Event Description: This event will explore the prospects for dietary supplements in the global market and how to deal with the challenges of internationalization. The debate focuses on the opportunities and challenges of the global market and the trends for food supplements. It will also discuss the points of difference between the different geopolitical areas, international regulatory scenarios with a focus towards homogeneous geographical areas, processes and flows of internationalization.

Link: http://www.federsalus.it//news.php?id=1076

Filippo BattainiSpeaker’s Name: Filippo Battaini, Retailing Analyst, Euromonitor International

View Filippo Battaini's profile on LinkedIn

Presentation Title: Global Opportunities and Prospects: Countries, Products and Channels

Presentation Description: This presentation will identify the market potential for vitamins and dietary supplements in South East Asian middle economies, China and United Arab Emirates. It will further analyse the main distribution channels in these regions and the opportunities that multichannel retailing, online retailing and direct selling can offer, with concrete examples of how companies have entered and operate in these markets.

一般用医薬品のインターネット販売制度改正

EURO_NT_Yukino.Kawabata_LThumb川端 雪乃,  リサーチアナリスト

一般用医薬品のインターネット販売に関する新たな制度が6月12日に施行されました。

最高裁判所の判決による一般用医薬品のネット販売解禁を受け、新制度はネット販売の安全性を確立するものとされています。

ネット販売事業者は、新たなサービスや付加価値を提供して対応していく必要があります。

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Internet Sales of Over-the-Counter Drugs in Japan Expected to Perform Well

EURO_NT_Yukino.Kawabata_LThumbWith Yukino Kawabata, Research Analyst

The recent lift on the ban of online over-the-counter drug sales in Japan has led to public concern about lack of regulation, so starting on June 12 stricter laws went into place to regulate these sales. Despite the new laws, online retailers such as Amazon Japan are selling OTC drugs for cheaper than pharmacies and drug stores, leading some physical retailers to offer services such as next day delivery. Overall, internet sales of OTC drugs should perform well in the coming years due to Japan’s active and aging population.

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June 11, 2014

Consumer Health Developments in North Africa

ChrisSchmidtAnalyst Insight by Chris Schmidt - Consumer Health Analyst

View Chris Schmidt's profile on LinkedIn

With emerging market focus shifting from the once vaunted Brazil, Russia, India and China (BRIC), The Middle East and Africa is gaining clout as a potential growth engine for the future. Within the region, North Africa – namely Algeria, Egypt, Morocco and Tunisia – offers an exciting, and challenging, opportunity. While the area’s political instability has spooked some producers, its relatively sizeable markets and generally rosy growth outlook will continue to draw interest from the consumer health industry.

Demographic Opportunities Face Political Headwinds

North Africa is an intriguing region, in that it offers a number of advantageous socio-economic characteristics. Algeria, Egypt, Morocco and Tunisia all feature higher per household annual disposable incomes than the average of the Middle East and Africa region and have populations that are expected to grow faster than much of the rest of the developing world in the next two decades. These factors have helped drive consumer health sales and will be important contributors to the expected 4% retail value sales CAGR those four markets will combine for through 2018.

Continue reading "Consumer Health Developments in North Africa" »

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Recent Posts

Premium Private Label Vitamins and Dietary Supplements to Capture Greater Market Share

Prospects for Fish Oils and Omega Fatty Acids in China

Techweek Chicago 2014 Recap

Consolidation Pushes Ahead in Sports Nutrition

Hormel Acquiring Muscle Milk Highlights Importance of Protein Trend

Correcting Contradictions: Restoring OTC Coverage to Health Spending Accounts in the US

Euromonitor to Speak at XV FederSalus Convention

一般用医薬品のインターネット販売制度改正

Internet Sales of Over-the-Counter Drugs in Japan Expected to Perform Well

Consumer Health Developments in North Africa