Consumers to become more health focused in 2014
Left: Image courtsey of Champneys
2014 will see consumers continue to become more knowledgeable about and proactive when it comes to their health, according to market analyst Euromonitor International.
The company predicts more readily available information about health, a greater awareness of the preventability of many chronic diseases and an ageing world population to continue to drive the global consumer health market this year.
Euromonitor estimates the worldwide consumer health market to have reached a value of US$205.5billion (£125bn) in 2013, an increase from the initial forecast of US$203bn (£124bn). The retail value of sports nutrition and weight management products rose by 5% and 4% respectively in 2013, compared to earlier predictions.
An increased segmentation of the health market is also expected in 2014, as increasingly well-informed consumers seek to address specific issues or find tailor-made solutions to their problems – based on factors such as age, gender and lifestyle.
Mobile technology is expected to contribute to consumers becoming more health focused, offering solutions such as text message health alerts and fitness and nutrition-based apps.