SOURCE: 3BL Media, LLC
Reckitt, Nestle, and GlaxoSmithKline are making big bets on a growing trend for consumers to spend more money on managing their own health. Reckitt is buying vitamin maker Schiff Nutrition for $1.4 billion. It has also acquired the over-the-counter medicines business of the U.K.’s Boots Inc. for $3 billion. GSK has taken great control over the company’s subsidiaries in India and Nigeria. And Unilever bought Pfizer’s infant-nutrition business and announced a joint venture with Hutchison China Meditech to launch nutritional products based on Chinese medicine.
The global market for vitamins and minerals was worth $84 billion in 2011, and has grown by 12 percent in the past five years. It is the largest and fastest-growing subset of an overall global consumer health care market worth $200 billion. The fastest-growing categories of new products include vitamins B and D, calcium, fish oils, and "probiotics" (nutritional bacteria).
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KEYWORDS: Hutchison China Meditech, Reckitt, Nestle, GlaxoSmithKline, Schiff Nutrition, Boots Inc, Pfizer, vitamins, minerals, Unilever, 3bl Media, Health Minute, Health