According to a new market report published by Industry Probe ‘Detox Products Market (Product Type: Body and Skin (Tea, Capsules, Tablets, Powder, Liquid, Detox Kit, Others), Hair (Oil, Shampoo, Conditioner, Others); Form: Powder, Capsules, Soft gels, Tablets, Liquid, Others; End-use: Individual, Commercial; Distribution Channel: Online (Company Website, E-commerce Websites), and Offline (Hypermarkets/Supermarkets, Specialty Stores, Brand Stores)) – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027’’, the global detox products market was valued at US$ 983.3 Mn in 2019 and is expected to expand at a CAGR of 9.7% from 2019 to 2027.
Rapid Urbanization to Boost the Detox Products Market during 2020-2027
The report from Industry Probe anticipates that the factors such as rapid urbanization, rise in disposable income, growing population, and increasing awareness about benefits of detoxification of the body are expected to boost the global detox products market in the near future. Economic growth, rapid urbanization, and increase in disposable income encourage healthy lifestyles and this in turn leads to a rise in demand for detox products across the globe. Development of the market in emerging economies owing to changing consumer preference toward health supplements is boosting the growth of the detox products market. The report has also included some of the hindering factors behind the growth of the market Government regulations and norms related to pharmaceuticals and food products is a major challenge to manufacturers, and hence companies have to pay greater attention while manufacturing the detox products irrespective of consumables products.
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Capsule Form of Detox Products to Account for Significant Market Share
In terms of product type, body and skin detox products hold a major share as these products are consumed and absorbed in the body at a faster rate and have good impact. Capsule form of detox products accounted for major market share of 32% in 2018. Capsules are the simplest form of detox products and are easy to use and swallow and hence preferred by people and is expected to drive the demand for detox products in the coming years. In terms of end-use, individual segment acquired major market share of approximately 80% in 2018. The segment is further anticipated to expand at a CAGR of 9.9% during the forecast period. In terms of distribution channel, the online distribution channel is expected to be the most attractive segment during the forecast period due to the inclination of users toward online shopping.
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North America to Dominate the Market during Forecast Period
Based on region, North America holds a major share of the global detox products market, followed by Europe. The large sedentary population in the U.S. provides opportunities for detox product manufacturers to tap this market. North America held major share in the global detox products market in 2018 followed by Europe and Asia Pacific. Asia Pacific region is expected to show good growth opportunities for the manufacturers of detox products during the forecast period. Increase in disposable income and improvement of life styles, demand from the young population and fitness enthusiasts for healthy supplements are some of the factors responsible for the demand for detox products in developing countries such as China and India.
The detox products market is dominated by several players who are focused on the development of new products to cater to the changing consumer preferences. Major Players Covered under the Scope include HimalayaGlobal Holdings Ltd., Bioray, Nutrivein, Microbe, NLAfor Her, IrwinNaturals, IFNNutrition, PlanetaryHerbals, DetoxifyLLC., and NowFoods.
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