Dietary supplements are concentrates of essential nutrients which are either artificially synthesized or derived from food sources such as fruits, vegetables, and grains. Some of the main ingredients used in the manufacture of dietary supplements include minerals, vitamins, proteins and amino acids, botanicals, omega fatty acids, fiber, and specialty carbohydrates. Vitamins and minerals are the most popular types of dietary supplements consumed in Israel, followed by herbal and botanical supplements and sports supplements. Adequate intake of these supplements has many benefits to the human body, including strengthening the immune system, weight management, preventing risks of cardiovascular disease, allergies, and rheumatic diseases, improving energy levels, increasing bone density, maintaining cholesterol levels, blood pressure, and triglyceride levels. Dietary supplements are found at in variety of forms in the market such as tablets, capsules, gummies, powders, drinks, flour mix, and energy bars. Growing prevalence of various health problems in the country such as obesity, malnutrition, diabetes, blood pressure, and others are pushing more people to focus on their health and consume adequate amount of nutrients in their diet. This growing health awareness among people of the country is expected to register an impressive growth to Israel dietary supplements market in the futuristic period. Moreover, the support provided by the Israel government for healthcare sector through introduction of various policies and insurance for making dietary supplements more affordable might also boost the growth of dietary supplements market there. Rise in geriatric population of Israel along with growing prevalence of various chronic diseases which are associated with them in their old age is also expected to boost the growth of Israel dietary supplement market in upcoming years. Henceforth, growing establishment of pharmacies, drug retailers, supermarkets, and others which are leading to the rise in supply of dietary supplements among Israelis is also expected to bolster the growth of dietary supplement market in Israel during the estimate period.
Growing Prevalence of Chronic Diseases
As per the report published by World Health Organization (WHO) in 2020, it has been observed that total 14,197 cancer cases were reported in Israel men among which accounted for 3,290 cases of prostate cancer, 1,613 cases of lung cancer, 1,490 cases of colorectum cancer, and so on. Moreover, a total of 14,507 cancer cases were reported in Israel women out of which 4,348 cases were of breast cancer, 1,392 cases of colorectum cancer, 1,029 cases of thyroid cancer, and so on.
Download Free Sample ReportIncrease in Number of Government Policies Related to Healthcare
The Israeli government has implemented various policies that have influenced the dietary supplements market in the country. The ministry sets the standards for manufacturing, labeling, and advertising of dietary supplements to ensure they are safe and effective for use by consumers. This regulation has increased consumer trust in the market and encouraged more people to use dietary supplements in their daily life. Moreover, introduction of more health insurance and insurance provided by Israeli government for people of the country is making dietary supplements more affordable for people which is further expected to bolster the growth of Israel dietary supplements market in the forecast period. The government has also offered financial incentives to companies that invest in research and development of various dietary supplements which has further stimulated growth of the market.
Rise in Geriatric Population
According to the report published by AHA Journal in 2020, around 42% of men and 31% of women who were above 75 years of age, were resulted suffering from severe cardiac illness.
Increase in Availability of Dietary Supplements
According to World Index of Healthcare Innovation, the Israel healthcare system is ranked at sixth position across the world which accounts for around 1,900 pharmacies present in the country providing people with excellent medical facilities to people every day. Establishments of various distribution channels such as supermarkets, drug retailers, hypermarkets, and others are leading to high sales of dietary supplements. Thus, the mounting availability of dietary supplements in various forms such as tablets, capsules, and soft gels, among all the regions of the country is further expected to boost the growth of Israel dietary supplement market in the futuristic period.
Recent Developments
- Vitamin,mineral, and supplement firm Ambrosia-SupHerb Ltd. is partnering with hemp andcannabis product developer Tikun-Olam Cannbit Pharmaceuticals Ltd. to createIsrael’s first dietary supplement line made with low-delta-9tetrahydrocannabinol (THC) and mushroom. The partnership comprises a jointpilot for R&D to develop products. The companies are applying to Israel’sMedical Cannabis Unit for approval for the R&D. In addition to partneringin R&D, Tel Aviv-based Tikun-Olam will invest 4.98% of its shares inAmbrosia-SupHerb through a material private placement for approximately NIS 12m(USD 3.64m), at a share price of NIS 5.26 (USD 1.64).
Market Players
C.T.S. Ltd., Ambrosia Supherb Ltd., Zuf Globus Ltd., FLORIS-HADAS LTD., Anlit Ltd., Eshbal Technologies Ltd., and TNUPHARMA MANUFACTURING LTD.
Attribute | Details |
Base Year | 2022 |
Historic Data | 2018 – 2021 |
Estimated Year | 2023 |
Forecast Period | 2024-2028 |
Quantitative Units | Revenue in USD Million, Volume in Tons, and CAGR for 2018-2022 and 2023-2028 |
Report Coverage | Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered | Product Type Form Distribution Channel Application End User |
Regional Scope | The Mediterranean Coastal Plain, The Central Hills, The Jordan Rift Valley, and The Negev Desert |
Key Companies Profiled | C.T.S. Ltd., Ambrosia Supherb Ltd., Zuf Globus Ltd., FLORIS-HADAS LTD., Anlit Ltd., Eshbal Technologies Ltd., and TNUPHARMA MANUFACTURING LTD. |
Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |