The Southeast Asia dietary supplements market size is poised to touch USD 10.60 billion by 2026 as governments in Southeast Asian countries intensify their efforts to improve the physical health of their respective populations. Fortune Business Insights™ shares this information in its new report, titled “Southeast Asia Dietary Supplements Market Size, Share & Industry Analysis, By Type (Vitamins, Minerals, Enzymes, Fatty Acids, Proteins, and Others), Form (Tablets and Capsules, Powder, and Liquid), and Regional Forecasts, 2019 – 2026”. According to the report, the value of this market stood at USD 6.92 billion in 2018 and it will exhibit a CAGR of 5.60% from 2019 to 2026.
Effective Marketing of Nutritional Supplements to Bolster Sales
Chief among the leading Southeast Asia dietary supplements market trends is the clever marketing techniques employed by companies to make their products more attractive to customers. Manufacturers and distributors are making available nutrition products used by athletes and other sportspersons to regular exercisers and hobbyists at affordable prices. The “sporty” image of nutraceuticals being promoted by companies is expected to accelerate the Southeast Asia dietary supplements market revenue in the forthcoming years. Additionally, increasing health consciousness among the working populace is further fueling the uptake of these products.
- By Type: Based on type, the market is divided into vitamins, minerals, enzymes, fatty acids, proteins, and others. Amongst these, the vitamins segment is set to lead with a market share of 30.06% in 2018 due to high demand for vitamin-based supplements in this region. The demand is owing to the fact that a large section of people in Southeast Asia suffer from vitamin deficiencies. In case of fatty acids such as omega-3, the future looks bright as these nutrients have to be consumed in the form of supplements.
- By Form: On the basis of form, the market is segmented into tablets & capsules, liquids, and powders. Here, the tablets & capsules segment is expected to lead as many dietary supplements containing vitamins, minerals, and amino acids are widely available in the form of capsules and tablets. Their popularity is based on the fact that tablets and capsules have a longer shelf life and provide accurate dosage, which is driving the food supplements market trends in the region. On the other hand, the demand for liquid and powder-based supplements is slated to spike as the intake of probiotics and performance-enhancing supplements gains traction among athletes.
- By Country: The market is segmented on the basis of country into Indonesia, Vietnam, Thailand, Singapore, Malaysia, the Philippines, and Rest of Southeast Asia. Among countries, Indonesia is expected to dictate the Southeast Asia dietary supplements market share owing to the high rates of nutrition deficiency in the country. The market size of the country was at USD 2.04 billion and is anticipated to expand even more in the coming decade as the demand for Vitamins A and E as well as collagen supplements is projected to rise on account of the rapidly ageing population.
To get a detailed report summary and research scope of this market, click here: https://www.fortunebusinessinsights.com/industry-reports/southeast-asia-dietary-supplements-market-101943
Operational Expansion to be the Defining Feature in the Market Competition
Major players in this market are looking to gain a decisive competitive edge, according to the Southeast Asia dietary supplements market analysis. To that end, players are increasingly investing in raising their R&D capacities and diversifying their operations into other domains.
List of the key industry players profiled in the Southeast Asia dietary supplements market report include;
- Kalbe Farma Tbk PT
- Usana Health Sciences, Inc.
- K-Link International Sdn Bhd
- Pfizer Inc.
- Nestle S.A.
- Glanbia Nutritionals
- Archer Daniels Midland Company
- Suntory Holdings Ltd.
- Otsuka Holdings Co. Ltd.
- Herbalife Nutrition Ltd.
- GlaxoSmithKline plc
- November 2018: Sido Muncul introduced Tolak Angin, its signature herbal, immune system boosting supplement, in the Philippines with a view to establish its presence in other Southeast Asian countries.
- January 2018: Kalbe Farma inaugurated multiple ‘Kalba Care’ outlets in various shopping malls in Indonesia. These outlets will display and sell many nutritional supplements such as vitamins and powdered milk.
The Southeast Asia Dietary Supplements Market is Segmented as Follows:
- Fatty Acids
- Tablets and Capsules
- The Philippines
- Rest of Southeast Asia