The four key drivers of food supplements

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Food supplements have recently turned from a niche interest into a wide-spread habit. NutraMy believes that such trend will continue. Here’s why.

Aging population

  • The world population is aging at an accelerating pace
  • In the last 60 years, the number of people aged 65 or more increased from 58% to over 65% of the total while 15-64 years of age started falling in the last decade
  • The countries with the longest life expectancy are Hong Kong, Japan, and Macao (around 84 years)
  • The countries with the shortest life expectancy are Chad, Central African Republic, and Sierra Leone (around 52 years)

Rising wealth

  • Wealth have been rising steadily in the last 60 years according to most indicators
  • This is true particularly in Emerging Countries, where people left the threshold of poverty and the middle class has developed at an accelerating pace
  • GDP per capita in China was $59 in 1960. It is $8,827 today. GPD per capita in India increased 24 times in the same period
  • Raising wealth means more assets to purchase goods that supplement our daily diet

Health concerns

  • People are getting more concerned about their health
  • Noncommunicable diseases (NCDs e.g. cardiovascular diseases, cancers, chronic respiratory diseases and diabetes) account for 63% of deaths globally
  • About 18 million people (31%) died from cardio-vascular diseases (CVDs) in 2016

Convenience

  • Due to a series of factors, mostly productivity, the number of working hours per person has dramatically dropped in recent times
  • Nevertheless, people increasingly appreciate convenience as a means to spend time with family, friends, and hobbies
  • According to Forrester, “66% of customers think that valuing their time is the most important element to consider to provide a good online customer service”