A fast growing market, expected to grow at more than 6% CAGR in the upcoming years and reach ~$205 billion by 2017.
The growth drivers are: the aging population, increases in disposable income, rising healthcare costs, channel proliferation (due to a robust OTC market). In developing nations, the middle class growth translates to increased disposable income because of reduced tax structures.
U.S. is the largest market, followed by Asian countries: China, Japan, South Korea and European countries: Italy, Russia, and Germany.
China is a massive export opportunity for the US dietary supplements manufacturers – it is more than $10 billion and growing at 5% per year, with no slowdown in sight. Chinese consumers’ concerns about health, rising disposable income, and preference for US manufactured products position American companies well to play in this market.