Jan 31, 2020
Detox Products to See an Upward Trend as Drug Rehabilitation Facilities Proliferate, Finds Fact.MR
by Team Fact.MR
The global detox products market is growing at a CAGR of over 4% and is expected to grow 1.7X by the end of the forecast period (2019-2029). Over the historical years, the detox products market has witnessed its ups and downs, enjoying massive success and optimistic profits, despite the lack of significant impetus from the medical community. With the detox diets and cleansing trends being the strongest among millennials, the demand for detox products is seeing a steady increase. As the detox products market continues to gather momentum, detox products in the form of consumables and beverages are becoming increasingly popular as customers are becoming more price sensitive. However, consumers are willing to overcome risk wariness and are showcasing heightened preference for premium products. Thus this period is suitable for low-cost detox products competitors to enter the market and gain market share.
Key Takeaways: Detox Products Market Study
- Presently, North America holds the largest share in the detox products market accounting for nearly 2/5tt market share. The overall consumption of drugs and alcohol in the U.S. and policy efforts to raise awareness about ill effects of these products are expected to drive regional growth
- APAC is expected to emerge as the most profitable region during the forecast period with a growth rate of over 5.5%.
- With pharmaceutical drugs used in detox therapy being specifically administered by a physician , the drug stores and pharmacies segment will generate maximum revenue during the forecast period
- The nicotine detoxification segment is considered to be the most lucrative and expected to witness significant growth over the forecast period. The rising availability of nicotine replacement therapy drugs in tandem with the market for chewing gums is driving pharmaceutical product sales
“Shifting consumer preference for a healthy lifestyle supported by robust government initiatives is providing more opportunities for health supplement firms to market immunity-boosting detox products” says the Fact.MR analyst
Product Portfolio Strengthening to Remain Vital
The global detox products market is moderately fragmented with the presence of both leading pharmaceutical giants like Pfizer, Inc., Novartis AG, and emerging competitors like West-Ward Pharmaceuticals Corp (Hikma) and Detoxify LLC. The growth in innovating the personalized nutrition space is changing the way detox product manufacturers and product marketers are delivering health improvement options. Several detox product launches are being featured with greens, fiber and herbs in order to bolster sales. In 2017, FMCG giant Dabur launched both online and print advertisements for its Ayurvedic herbal supplements in which the company is a market leader. Another company with the name A.V. Organics launched the first bottled alkaline black water, and established two pilot plants to develop groundwater formulations.
Find More Valuable Insights on the Market
Fact.MR, in its new offering, provides an unbiased analysis of the global market for detox products, with historical data on demand (2014-2018) and expected projections for the period 2019-2029. The report discloses compelling insights into the demand for detox products on product type (activated charcoal, cold pressed juice, detox tea, diuretics, superfood mixes, others(milk thistle, gummies etc)), form (liquid, tablets (pills) & pallets, powder, capsules, other forms), process (alcohol detoxification, drug detoxification, nicotine detoxification, metabolic detoxification), buyer type (individual, institutional), sales channel (drug stores & pharmacies, health & beauty stores, modern trade channel, direct selling, third party online channel, company online channel, practitioner channel), across several major regions.
>>> To Get more insights on detox products market, visit- https://www.factmr.com/report/4496/detox-products-market
About the Retail and Consumer Goods Division at Fact.MR
Being a consortium of large number of sub-industries, not many market research companies are being able to fulfil the requirements of consumer product clients. Though, retail and consumer goods analysts at Fact.MR have been tracking the broader sub-industries to keep themselves abreast of the recent happenings in the market. With unmatched analytical diligence, the team at Fact.MR helps organizations design product differentiation strategies and helps add exclusive product(s) to their existing portfolio. For more insights on retail domain, visit here.