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Emphasis on health maintenance drives demand for supplements, says industry analysts

The global market for fitness nutrition supplements is witnessing growth supported by a large affluent base of aging baby boomers, increased involvement in various sports and fitness activities and growing consumer propensity to spend on nutrition supplements.

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The global market for fitness nutrition supplements is witnessing growth supported by a large affluent base of aging baby boomers, increased involvement in various sports and fitness activities and growing consumer propensity to spend on nutrition supplements.

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The trend towards preventive healthcare is helping spur consumption of sports and fitness nutrition supplements among the high-risk population, such as the elderly. Preventive intake of dietary supplements at recommended levels has been shown to reduce the occurrence of diseases such as coronary heart diseases, diabetes, hypertension, age related eye diseases, and osteoporosis, among others.

In the coming years, demand is expected to grow strongly for nutrition supplements that offer health, therapeutic, disease fighting, and healing benefits, in addition to providing energy, and stamina.

Focus on leading active lifestyles is resulting in increased participation in sports and fitness activities, thus benefiting consumption of sports and fitness nutrition products. Growing participation in aerobics, cycling, swimming, badminton, and increased enrollment in gyms and sports clubs, are factors spurring growth in the market.

The retail scenario is also changing with sports and fitness nutrition products now being made available in mainstream mass market outlets such as supermarkets and convenience stores. Though, majority of sales are through retail stores, the Internet is rapidly emerging as a lucrative channel for distribution and sales. Women form the major consumer group for dietary supplements, given their higher genetic predisposition to certain diseases.

Product innovation represents an important trend, with manufacturers focusing on the development of novel formulations with natural ingredients. Sales of premium brands and products are receiving a major boost, encouraged by the growing consumer preference for natural and herbal supplements. Supplements featuring potent herbs and spices, specifically those used in Chinese traditional medicine and Ayurveda, are poised to witness strong growth over the short-to-medium term period.

As stated by the new market research report on Sports and Fitness Nutrition Supplements, the United States represents the largest market worldwide. Growth in the country is supported by aging baby boomers, increase in gym and health club memberships, and wide availability and easy access to sports and fitness nutrition products at fitness clubs, pharmacies, health food stores, and supermarkets.

Asia-Pacific ranks as the fastest growing market with a CAGR of about 12.5% over the analysis period. Growth in the region is led by government focus on the development of infrastructure for nutrient supplementation among the growing population and increased healthcare spending by the expanding base of affluent middle class population.

Major players covered in the report include Abbott Laboratories Inc., Champion Nutrition Inc., Clif Bar & Company, The Coca-Cola Co., Dymatize Enterprises Inc., Glanbia Plc., Optimum Nutrition Inc., GlaxoSmithKline Plc, GNC Holdings Inc., Herbalife International Inc., NBTY Inc., The Balance Bar Company, Nestlé SA, Otsuka Pharmaceutical Co. Ltd., PepsiCo Inc., Red Bull GmbH, and Yakult Honsha Co. Ltd., among others.

The research report titled “Sports and Fitness Nutrition Supplements: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of industry segments, trends, growth drivers, restraints, market share, size and demand projections and forecasts. Major geographic regions covered include the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia Pacific, Latin America and Rest of World. Product segments analyzed include Amino Acids/Derivatives, Herbal Products, Vitamins/Minerals, and Other Sports and Fitness Nutrition Supplements. The report also offers coverage on mergers, acquisitions, product launches and other strategic industry activities of major global and regional players.

For more details about this comprehensive market research report, CLICK HERE.

Global Industry Analysts Inc. (GIA) is a publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes over 1,500 research reports and analyzes over 40,000 market and technology trends while monitoring more than 126,000 Companies worldwide. It currently serves over 9,500 clients in 27 countries.

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Pru Life UK solidifies position as top life insurer in PH

Pru Life UK achieved an impressive NBAPE of Php 10.54 billion for 2023 representing 11% growth. The company broadened the gap with the closest competitor by a margin of Php 472 million. NBAPE serves as the universally accepted performance metric used to assess sales performances of the life insurance industry in the Philippines.

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Pru Life UK ranks number one in the life insurance industry in the Philippines, garnering the highest New Business Annual Premium Equivalent (NBAPE) as reflected in the recently released Insurance Commission (IC) report as of 31 December 2023.

The report shows that Pru Life UK achieved an impressive NBAPE of Php 10.54 billion for 2023 representing 11% growth. The company broadened the gap with the closest competitor by a margin of Php 472 million. NBAPE serves as the universally accepted performance metric used to assess sales performances of the life insurance industry in the Philippines.

Owing to the company’s innovative offerings, Pru Life UK also leads in total premium income from variable life insurance products, amounting to over Php 45.7 billion as of 31 December 2023.

With over 42,000 digitally empowered agents and 1.7 million lives assured, Pru Life UK strengthens its market leadership reflecting the company’s unwavering commitment to being the most trusted partner and protector of many Filipino families.   

More than numbers, Pru Life UK also attributes its industry success to good corporate governance which guides the business to lead with transparency and integrity. A Golden Arrows awardee for five (5) consecutive years since 2018, Pru Life UK has cemented itself as a beacon of responsible business practices in the Philippines.

It is with great pride and honor that we achieved the country’s number one life insurer position in 2023, ” said Francis Ortega, Executive Vice President and Chief Financial Officer of Pru Life UK. “We express our heartfelt appreciation to our customers, partners, employees, and agency force for their collective efforts that have driven us to achieve this significant milestone. Our purpose, “For Every Life, For Every Future,” guides us in providing innovative and accessible solutions to every Filipino. We aim to be the most trusted partner and protector for this generation and generations to come by providing simple and accessible financial and health solutions.”

The consistent growth of Pru Life UK is aligned with that of its parent company, Prudential plc, which recorded a 45% increase in new business profit to USD 3.1 billion as of 31 December 2023. As it further strengthens its commitment to providing financial solutions addressing the evolving needs of Filipinos, the company recently launched PRULove Wealth, a single premium product designed to provide Filipinos life insurance coverage while also allowing them to earn returns with rates comparable with those from high-yielding time deposits. The plan uniquely offers 4% guaranteed annual cash payout, 100% cashback, and up to 125% insurance coverage.

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Siemens Healthineers turnover Letters of Intent to PH gov’t

Each of the three (3) LOIs reinforces the commitment Siemens Healthineers has in becoming a valued partner to contribute to further developing and revolutionizing the country’s healthcare sector.

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Siemens Healthcare Inc. (Siemens Healthineers), a medical technology company, turned over three (3) Letters of Intent (LOI) to the Department of Trade and Industry (DTI) Secretary Alfredo E. Pascual in the presence of Philippine President Ferdinand R. Marcos Jr. The ceremony took place during the German-Philippine Business Forum in Berlin, Germany attended by Philippine cabinet members, representatives, and business leaders from both countries.

Each of the three (3) LOIs reinforces the commitment Siemens Healthineers has in becoming a valued partner to contribute to further developing and revolutionizing the country’s healthcare sector. The first LOI is centered on developing a partner hospital to become a training center to support training needs and address the skills gap in the field of radiology. A comprehensive program will be developed to further improve healthcare quality such as a curriculum on the various aspects of mammography screening – including anatomy, pathology, imaging techniques and interpretation, safety, and patient care.

The second LOI is focused on the development of an Innovation Think Tank (ITT) hub and spoke model to address the strategic target of an inclusive innovation ecosystem in the Philippines. Through collaborations, the ITT is set to gather students, researchers, and working professionals to create and identify disruptive innovation opportunities and improvement areas in healthcare.

The third LOI is intended to explore the opportunities for strategic and digital partnerships in healthcare with the Department of Health with the goal of revolutionizing healthcare in the country. The digital partnership aims to develop and enhance the Philippines’ healthcare infrastructure through proven digital solutions such as eHealth and digital health and AI capacity-building and training.

“At Siemens Healthineers, we aim to foster a future for the Philippines where advancements in healthcare open new possibilities. The three LOIs underscore our unwavering dedication to creating a lasting impact, transforming the healthcare landscape, and fostering a healthier future for the generations to come – for every Filipino in every part of the country, sustainably,” said Michael Schmermer, President and Managing Director of Siemens Healthineers in the Philippines.

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Meat-free wonder with Pizza Hut’s flavorful seafood options

Make your Lenten season more meaningful with these meat-free meal combos featuring Pizza Hut’s bold and flavorful seafood dishes, available until 2PM every day (plus a pizza combo that you can enjoy anytime).

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If you want to go meat-free this season, it’s never too late to start, and if you’re looking for a satisfying meat-free lunch, then Pizza Hut’s got your back!

Make your Lenten season more meaningful with these meat-free meal combos featuring Pizza Hut’s bold and flavorful seafood dishes, available until 2PM every day (plus a pizza combo that you can enjoy anytime).

First is the SEAFOOD LUNCH FOR 2 set, where you’ll get 1 Regular Seafood Supreme Mega Crunch Pizza, 1 Regular Pasta Shrimp Arrabbiata, 1 order of Mozzarella sticks, and 2 servings of ice-cold Pepsi for only P699.

Going solo? Then you’ll surely love the SEAFOOD LUNCH A set, which comes with 1 Regular Pasta in your choice of either Shrimp Arrabbiata or Shrimp Ala King, and 1 serving of ice-cold Pepsi for only P249.

If you prefer pizza for your solo meal, there’s also the SEAFOOD LUNCH B set, available exclusively for dine-in. It comes with your choice of either 1 Personal Cheese Lovers Pan Pizza or 1 Personal Veggie Lovers Pan Pizza, 2 pieces of Salad Roll in your choice of either Shrimp or Crab, and 1 serving of ice-cold Pepsi for only P199.

Finally, there’s the SEAFOOD PIZZA PAIR, available all day, every day. It comes with 1 Seafood Supreme Mega Crunch Pizza and 1 Cheese Lovers Pan Pizza for only P599 for Regular and P899 for Large.

The SEAFOOD LUNCH B combo is available exclusively for dine-in. Meanwhile, the SEAFOOD LUNCH FOR 2, SEAFOOD LUNCH A, and SEAFOOD PIZZA PAIR combos are available for dine-in and takeout in all Pizza Hut stores nationwide; and for delivery via the (02) 8911-1111 hotline, www.pizzahut.com.ph, the Pizza Hut mobile app, available for Android and iOS, and Pizza Hut’s official delivery partners GrabFood and foodpanda (prices may vary).

Give Pizza Hut a like and a follow on Facebook, Instagram, and X (formerly Twitter) so you won’t miss out on the latest news, updates, and offers.

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