“OTC
Consumer Health Products Market:
Global Demand Analysis & Opportunity Outlook 2024”
The global OTC consumer health
products market is segmented into product type such as nutrition, oral
healthcare, skin health, vitamins & dietary supplements, herbal &
traditional products, wound care, digestive remedies, sleep aids, emergency
contraception, cough cold & allergy remedies, analgesics, dermatological
and others. Among these segments, skin health segment is expected to witness
significant growth over the forecast period. Factors such as, rising disposable
income of the population and growing spending on skin care is predicated to
garnish the growth of this segment during the forecast period.
Global OTC consumer health
products market is expected to grow at 3.75% CAGR during the forecast period.
Moreover, the global OTC consumer health products market is
expected to reach at USD 40.7 Billion by the end of 2024. The market is expected
to expand on the back of growing affordability and changing life style of
middle class families. Apart from this, growing rapid urbanization across the
globe is also responsible for substantial growth of global OTC consumer health
products market.
The offline distribution channel
segment is accounted for major share in previous years. Further, growing
e-commerce business and rising popularity of online shopping are likely to
bolster the growth of global OTC consumer health products market in upcoming
years.
Rising Health
Consciousness
Consumer’s inclination towards healthy lifestyle and growing
utilization of additional nutrition are likely to increase the size
of global OTC consumer health products market. Further, rapid introduction of
new OTC consumer health products is also expected to increase the consumption
of OTC consumer health products across the globe.
Rapid Urbanization
Increasing population in urban
areas is a major factor which is increasing the demand for consumer goods.
Further, the growth of OTC consumer health products market can be attributed to
factors such as growing awareness amongst the population regarding common life
style diseases and increasing adoption of vitamins & dietary supplements in
order to achieve healthy life style.
Although, presence
of counterfeit consumer health products is likely to hamper the growth
of the OTC consumer health products market in the near future.
The
report titled “OTC
Consumer Health Products Market : Global Demand
Analysis & Opportunity Outlook 2024”
delivers
detailed overview of the global OTC consumer health products market in terms of
market segmentation by type, by distribution channel and by region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global OTC
consumer health products market which includes company profiling of Johnson & Johnson, Abbott Laboratories, Sanofi
Pharmaceuticals Company, GlaxoSmithKline Pharmaceuticals Company, Bayer
Pharmaceutical Company, Nestle Company, Procter & Gamble Corp., Danone Food
Company, Colgate Palmolive Mfg. Company, Unilever Company and Henkel Company.
The profiling enfolds key information of the companies which encompasses
business overview, products and services, key financials and recent news and
developments. On the whole, the report depicts detailed overview of the global OTC
consumer health products market that will help industry consultants, equipment
manufacturers, existing players searching for expansion opportunities, new
players searching possibilities and other stakeholders to align their market
centric strategies according to the ongoing and expected trends in the future.
About Research
Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
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strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Read more Information: https://www.researchnester.com/reports/otc-consumer-health-products-market/512
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