Changing consumer trends to benefit the effervescent products market
In 2017, the International Food Information Council Foundation conducted a survey in which 40% consumers said they looked forward to weight loss, 11% wanted products for cardiovascular health, 11% sought out digestives and 34% were looking for products that benefited their muscle health, immune functioning, and oral health. The adoption of a healthier lifestyle coupled with rising disposable incomes across the globe should increase the consumption of dietary supplements and probiotics. To make the most of this trend, companies actively involved in the effervescent products market are launching innovative products that tackle nutritional deficiencies, enhance general wellbeing, and prevent diseases.
User-friendly product forms key in the effervescent products market
Pharmaceutical products can be administered in different forms of delivery such as nasal, oral, topical, or injectable. A study found that swallowing tablets was often difficult, especially for the very young or very old. To overcome this critical health issue, pharmaceutical companies have turned to user-friendly alternatives such as chewable tablets, lozenges, orally disintegrating granules, and effervescent tablets. These formulations are more convenient, improve accessibility, extend the company product line and extend the product lifespan. Effervescent tablets consist of high amounts of active pharmaceuticals and can be easily consumed in a single dosage, as opposed to multiple doses. Companies are experimenting with novel drugs by including ingredients that tangibly impact their customer health and lifestyle.
Lack of awareness a big challenge in the effervescent products market
Companies actively involved in the effervescent products market often face problems while marketing the attributes of their products. A large section of the consumer base is unaware of the benefits of effervescent products and it can be difficult for consumers to justify paying the high premium that is often charged for these effervescent products. Companies need to emphasize that effervescent products only need a single dosage in comparison to compressed tablets that require a daily dosage of two or even three tablets to achieve a similar nutritional level. The pervasive lack of awareness amongst consumers has led to minimal adoption of the products available in the effervescent products market.
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Effervescent tablets dominate the effervescent products market
Effervescent tablets, made largely of organic acids and a carbonated base, dominate the effervescent products market and are estimated to hold a market share just under 75% of the effervescent products market in 2017. The effervescent tablets segment is anticipated to push past US$ 42 Bn by the end of the forecast period, making it imperative for key stakeholders in the effervescent products market to focus on. The effervescent tablets segment is larger than both effervescent powders and effervescent granules combined and it wouldn’t be surprising if companies in the effervescent products market decided to target it exclusively. However, the highest CAGR of 9.1% for the period 2017-2025 is predicted in the effervescent granules segment of the effervescent products market.
North America the main region in the effervescent products market
North America is the largest regional contributor to the effervescent products market as the continent has a number of factors in its favor. Effervescent tablets account for a lion’s share of more than 70% of the North America effervescent products market by product form throughout the forecast period. Effervescent tablets represent a potential market opportunity of approx. US$ 15.7 Bn in North America by the end of the study period making it well worth the while of major players in the effervescent products market.