Philippines Nutraceuticals Market is Expected to Reach PHP 261 Billion in Terms of Revenues by 2022: Ken Research

Philippines Nutraceuticals Market is Expected to Reach PHP 261 Billion in Terms of Revenues by 2022: Ken Research

PR Newswire

GURUGRAM, India, January 16, 2019

GURUGRAM, India, January 16, 2019 /PRNewswire/ --

Increasing middle and high income consumers: The politically and economically stable economy of Philippines and majority of the work-force, have also been contributing to the expanding capability and desire of Filipino consumers to improve both mental and physical health through nutraceuticals. In addition to that, increasing number of middle and high income consumers will provide opportunities for nutraceuticals companies in Philippines to grow during the forecast period, as different income groups tend to purchase different type of products.

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Rising demand for natural and organic products: One of the key factors that would shape the nutraceuticals market within Philippines is the consumers' trend towards natural and organic ingredients functional food and beverage products instead of artificial ingredients such as sweeteners and colorings. In addition to this, increasing consumption of green tea, catechins for their anti-oxidant, anti-aging, anti-cancer and skin health properties will drive the demand for functional foods and beverages in future.

Growing demand for sports nutrition: Apart from taking care of their health, Filipinos are also concerned about the way they look. This has further boosted the total number of gym-goers across the country. This growing health trend in the country has encouraged people to consume nutraceutical products like protein bars, whey protein powders, amino-acid protein powders and supplements even at premium prices. Some of the major best-selling protein bars in the Philippines include MuscleTech Nitro-Tech Crunch Muscle Building Protein Bars, Kind Bars, Rxbar Protein Bars, Nature Valley Protein Chewy Bars, Think Thin Protein Bar and others. Moreover, this trend is expected to continue in future as well, thereby positively impacting the sale of nutraceuticals in Philippines.

Analysts at Ken Research in their latest publication "Philippines Nutraceuticals Market Outlook to 2022 - Composite Herbal Dietary Ingredients, Ginseng, Garlic and Ginkgo Biloba Based Herbal Supplements will Drive the Growth" believe that nutraceuticals market is in its early growth stage and is expected to further expand through brand enhancements, market promotions, spreading awareness about functional foods in respect with chronic diseases, collaboration with doctors, setting up of foreign manufacturing units and boosting omega 3 and fatty acid supplements. The market is expected to register a positive CAGR of 5.0% in terms of revenue during the forecast period 2017-2022.


Key Segments Covered 

- Vitamins and Dietary Supplements: 

- Functional Beverages: 


- Functional Foods:  


Key Target Audience 

Time Period Captured in the Report: 

Companies Covered: 

- Vitamins and Dietary Supplements:  

- Functional Beverages:  

- Functional Foods:  

Key Topics Covered in the Report 

For more information on the research report, refer to below link: 

https://www.kenresearch.com/healthcare/pharmaceuticals/philippines-nutraceuticals-market-future/175026-91.html 

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