SEATTLE, June 03, 2021, (MEDGADGET) — Global Health Supplementary Food OEM and ODM Market
People with chronic diseases are recommended to take health supplementary food to counter the weakened immune system, which results in drastic weight loss. Moreover, such supplements lower the risk of various health problems such as chronic kidney disease, diabetes, intestinal diseases, osteoporosis or arthritis, and others.
In 2020, the global health supplementary food OEM and ODM market is valued at US$ 11,655.7 million, and is expected to exhibit a CAGR of 7.8% over the forecast period (2020-2027).
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The outbreak of COVID-19 is significantly affecting clinical trials. According to an American technology company, Medidata Solutions, in April 2020, around 63% of survey respondents reported that they had stopped recruiting new patients for ongoing clinical trials, while around 43% of survey respondents have postponed their clinical trials. Thus, researchers and healthcare facilities are now conducting clinical trials by following safety measures. According to Medidata, around 45% of survey respondents opted for virtual/telemedicine for consultancy.
Increasing product launches are expected to fuel the global health supplementary food OEM and ODM market growth over the forecasted period. For instance, Vitality Wellness, in April 2020, launched an immune health supplement in New Zealand to meet increasing demands amid the global pandemic in the country.
Moreover, market players are adopting various inorganic growth opportunities, such as merger and acquisition, to strengthen their market share, as well as product portfolio, which in turn, is expected to propel the global health supplementary food OEM and ODM market growth. For instance, in February 2018, Kolmar Korea acquired CJ HealthCare to expand its product portfolio and to strengthen its market position.
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Side effects and complications caused due to health supplements are expected to hinder growth of the global health supplementary food OEM and ODM market.
Moreover, lack of consumer awareness about diet, health, and nutrition balance is also expected to hamper the global health supplementary food OEM and ODM market growth.
By Nutrition Type:
- Diet Supplements
- Pre & Probiotics
- Meal Replacements
By Packaging Type:
- Containers & Jars
- Bottle Packaging
- Lamizip Packaging
- Stick Packaging
- Gastrointestinal Diseases
- Three Sided Seal Pack
- Box Packaging
- Blister Packaging
- North America
- Latin America
- Asia Pacific
- Middle East and Africa
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Key players active in global health supplementary food OEM and ODM market are NOVAREX Co., Kolmar Korea, Japan Supplement Foods Co., Ltd., Cosmax Inc., Health Sources Nutrition Co., Ltd., Syngen Biotech Co., Ltd., Goerlich Pharma GmbH, API Co., Ltd., OriBionatureSdnBhd, Nutricare Co.,Ltd, and among others.
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