Resveratrol SupplementsMarket outlook
The latest advancements in food and nutrition industry have shifted the consumer preferences towards high nutritional value food products. In addition to the natural antioxidant defense mechanism, consumers are adding antioxidants through external sources to quench free radicals and reactive oxygen species which are produced in the body. Resveratrol is a nutraceutical supplement, which has gained recognition among the millennial owing to its multiple health benefits. In the globalnutraceutical market, the demand forresveratrol supplementis increasing at healthy growth rate attributing to its benefits in cancer, neurological disorders, cardiovascular diseases, diabetes, non-alcoholic fatty liver disease (NAFLD), and obesity. The increasing geriatric population over the globe has subsequently fuelled the demand for nutraceutical. According to data published by United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), Asia Pacific constitutes 60% of world geriatric population and will increase over the years and expected to reach 1.3 Bn in 2050, which is creating enough space for the growth of resveratrol market in coming future. In the global resveratrol market, the Asia Pacific and North America hold the major share in production and consumption of resveratrol supplements owing to the presence of major players in the region which has generated enough awareness among the population about the health benefits of the resveratrol supplements. Promotional strategies and their attractive marketing strategies are also helping to gain the traction of the customers in the region.
Rising Demand for Resveratrol Supplements among Geriatric Population
In the global nutraceutical supplements market, resveratrol supplement has become popular among the geriatric and fitness enthusiasts due to its high anti-antioxidant content and phenolic functions. Anti-oxidants are the compounds which neutralize free radicals, such as reactive oxygen species and initiate the production of inflammatory mediators that in turn lead to oxidative stress and cell damage. In addition, increasing health issues such as cardiovascular diseases has led to thinking for the consumption of nutraceutical among the population. According to data published by American Heart Association statistics 2018, cardiovascular diseases are the major cause of death and accounted 17.9 million deaths in 2018 and it has been forecasted that it will reach to 23.6 million by 2030. The increasing health issues at an alarming rate has put a deep impact on consumers to take preventive measures. To cater to the demand of customers, manufacturers are focusing on healthy product launches in the global food and beverage market, which has created tough competition among the nutraceutical manufacturers than ever before. To gain the traction of their customers, there are frequent product launches, such as Vitamonk LLC has launched its new product based on resveratrol and pterostilbene products. With the increasing demand for resveratrol supplements among the population, it can be anticipated that the demand for resveratrol supplement will increase over the forecast period.
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Global Resveratrol Supplements: Key Players
Some the key players operating their business in the global resveratrol supplements market are Endurance Product Company, MAYPRO Industries, Sabinsa Corporation, Chengdu Yazhong Bio-Pharmaceutical Co., Ltd., Chongqing Kerui Nanhai Pharmaceutical Co., ltd Interhealth, Great Forest Biomedical, Laurus Labs Limited, JF-NATURAL, Evolva, Shanghai Natural Bio-engineering Co., Ltd., Resvitale LLC. and others.
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Opportunities for Market Participants:
The increasing trend of consuming nutraceuticals and dietary supplements among the population has significantly escalated the demand for resveratrol supplements in the global nutraceutical market. Owing to the antioxidant property of the resveratrol, the demand for resveratrol has increased among the geriatric population. On the other hand, it can also be used in various cosmetics consist of anti-aging properties. With the increasing demand for resveratrol among customers, many manufacturers are showing their keen interest to bring resveratrol supplements in their product line.
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