Today, human wellness is generally associated with good nutrition, dietary supplements, physical fitness and mental fitness. In general, many consumers are increasingly interested in more natural and less processed products. The wellness concept is centred on the idea that the mind, body, spirit, community and environment are inter-related and inter-dependent. The wellness industry is born based on the notion of pro-active health and homeostasis. People are starting to realize the extent of pro-active control that they can have on their health and well-being.
According to the Zion Market Research report, the global herbal supplement market is expected to reach approximately USD 86.74 billion by 2022, growing at a CAGR of around 6.8% between 2017 and 2022. After Europe, Latin American and Asia-Pacific regions are potential markets for herbal supplements due to increased efficiency in research & development initiatives taken by manufacturers. Asia Pacific is the fastest growing market having 9.1% of CAGR. Countries such as China and India are expected to boost the demand for herbal supplements owing to the increased focus on using herbal products, a rise in research activities on dietary supplements, and growing acceptance rate for herbal remedies. China and India are two large contributors to the growth rate of Asia Pacific.
The growth in wellness industry has generated demand in related technology. Consolidation of a wide range of scientific fields including biotechnology, life sciences, medical treatment and others can help establish the industry. The application of biotechnology and wellness technology is expected to create added value to the food, healthcare, nutraceuticals, cosmeceuticals and industrial bioprocessing sectors. Nowadays, consumers prefer a daily supplement from different delivery options to increase the ease of taking their nutritional products such as stick packs, gummies, or candies. These have generated a lot of innovation in term of nanoformulation and encapsulation-based research in order to deliver the ingredients to the right target.