Asia Pacific Dietary Supplements Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.21 % |
| Market Concentration | High |
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*Disclaimer: Major Players sorted in no particular order |
Asia Pacific Dietary Supplements Market Analysis
The Asia-Pacific dietary supplement market is estimated to register a CAGR of 8.21% over the next five years.
- The growing awareness about the need for dietary supplements in the Asia-Pacific region is expected to act favorably on the market. Also, personalized nutrition is gaining popularity among consumers of all age groups in the Asia-Pacific region. The region has an emerging market for nutrigenomics and individualized products, which is expected to further boost the market in the forecast period.
- Throughout the projected period, rising consumer awareness of their own health and well-being is anticipated to be a major market driver for dietary supplements. Due to busy schedules and evolving lifestyles, the working population across the region struggles to meet the needs for dairy nutrients. The industry is anticipated to grow increasingly dependent on supplements to meet nutritional needs due to their high level of convenience.
- Throughout the course of the projected period, the market expansion is anticipated to be aided by rising healthcare spending, an aging population, rising interest in preventative healthcare, and increased interest in achieving wellness via nutrition. The demand for energy and weight management is anticipated to rise as there are more gyms, health clubs, and fitness centers available, along with a rise in fitness awareness among younger consumers.
- The market for dietary supplements will profit from the growing acceptability of sports as a career by increasing demand for sports nutrition. The main success factor for dietary supplements is research and development, which demands significant financial outlays. However, strict rules governing product labeling and health benefit claims are anticipated to present difficulties for dietary supplements throughout the forecast period.
Asia Pacific Dietary Supplements Market Trends
Increasing Health Expenditure in Asia-Pacific Countries
- Healthcare as an industry contributes extensively to the overall economy. Emphasis on care management, focus on paying for value, and growing general inflation are major factors influencing healthcare costs. Developing nations across Asia-Pacific have been spending heavily on healthcare and welfare.
- The high expenditure by such countries signifies the changing consumer behavior toward healthcare and surging demand for healthcare products like dietary supplements. Other developing countries like South Korea, China, and India are generating demand for the market, which is expected to grow in the forecast period.
- In 2021, The Hartman Group Survey revealed that almost 65% of Indians stated they had increased attention to their immunity during the previous year. Over 62% of respondents said their family's health and safety were more important. Hence, the preference for health and wellness is the major driving factor.
- As per an article published in the National Library of Medicine (NLM), the prevalence of dementia among people aged 65 years or older increased from 5.9% to 7.3% in South Korea, placing a socioeconomic burden on South Korea. Cognitive function decline has risen due to the increasing aging population in South Korea and the higher risk of chronic diseases and depressive symptoms. Thus, this places demand for brain health supplements to support cognitive function across South Korea.
- For instance, in September 2022, China launched its ambitious China Brain Project (CBP) to focus on three broad areas, namely the neural basis of cognitive functions, diagnosing and treating brain disorders, and brain-inspired computing, and is budgeted at USD 746 million. This is bound to create opportunities for manufacturers of brain health supplements. Therefore, growing people's awareness and the various government initiatives in this region drive the dietary supplements market.
India is the Fastest-Growing Dietary Supplement Market
- India has observed significant growth in the dietary supplement market over the years, making it one of the fastest-growing markets in the region. Changes in eating habits, a lack of physical activity, and increased sedentary lifestyles have contributed to various lifestyle diseases, such as diabetes, high blood pressure, obesity, cardiovascular problems, etc.
- Furthermore, increased awareness has made consumers more aware of their nutritional needs. With consumers unable to meet their nutritional needs through their regular diets, they are beginning to recognize the value of nutritional supplements in filling nutritional gaps, thus, increasing the country's sales of dietary supplements.
- Consumers prefer to choose products with a high nutritional value over other products. The demand and sales of various health supplements drastically increased across the region as individuals are interested in purchasing nutrient boosts for cognitive health. The demand for clean-label products is increasing in the market, owing to which demand for non-GMO and gluten-free ingredients in supplements is rising.
- For instance, OZiva is India's leading clean-label active nutrition brand that combines modern food with traditional Ayurv. Further, according to ENTRACKR, the operating income of Oziva during the fiscal year 2021 was INR 721 million. Comparing the financial year to the previous one, there was significant growth. The Indian health and wellness company Oziva sells its plant-based products online. Therefore, the significant growth trend in the segment in this region is the major driving factor.
- Hence, People's hectic work schedules and extended working hours have resulted in negligence toward their daily diet, health, and fitness, leading to various health issues such as stress, depression, mood swings, and overall immunity. Therefore, people are increasingly focusing on preventive health and prefer supplements that offer enhanced health benefits without harmful effects. Due to these factors, the growth of dietary health supplements in this region is expected to propel in the coming years.
Asia Pacific Dietary Supplements Industry Overview
The dietary supplement market in the region is anticipated to offer major investment opportunities, especially for herbal and Ayurveda extract-based products. This is because of the ample availability of raw materials in India and Southeast Asian countries. Hence, major players are engaged in product innovation and improving their organic and herbal supplement production procedures. The major players in the region are Abbott Laboratories, The Carlyle Group, GlaxoSmithKline PLC, Amway Corp., and Bayer AG.
Asia Pacific Dietary Supplements Market Leaders
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Abbott Laboratories
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Bayer AG
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Amway Corporation
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GlaxoSmithKline plc
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The Carlyle Group
*Disclaimer: Major Players sorted in no particular order
Asia Pacific Dietary Supplements Market News
- March 2023: EZZ launched five new products ranging from brain to joint and maternal health amid rising consumer demand in China. The products for all age groups ranging from children to the elderly, focus on supporting brain function, fetal brain development, and eye health.
- June 2021: Amway India announced the launch of its Nutrilite Vitamin C Cherry Plus, intended for individuals with weakened immunity that comes with the benefit of extended-release technology.
- March 2021: DSM launched ampli-D, a three times faster-acting form of vitamin D supplement, in Australia.
Asia Pacific Dietary Supplements Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
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4.3 Porter's Five Forces Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Vitamins
- 5.1.2 Minerals
- 5.1.3 Proteins and Amino Acids
- 5.1.4 Herbal Supplements
- 5.1.5 Fatty Acids
- 5.1.6 Probiotics
- 5.1.7 Other Types
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5.2 Distribution Channel
- 5.2.1 Supermarkets/Hypermarkets
- 5.2.2 Pharmacies and Drug Stores
- 5.2.3 Convenience/Grocery Stores
- 5.2.4 Online Retail Stores
- 5.2.5 Other Distribution Channels
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5.3 Geography
- 5.3.1 China
- 5.3.2 Japan
- 5.3.3 India
- 5.3.4 Australia
- 5.3.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Most Adopted Strategies
- 6.2 Market Share Analysis
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6.3 Company Profiles
- 6.3.1 Abbott Laboratories
- 6.3.2 The Carlyle Group
- 6.3.3 Bayer AG
- 6.3.4 GlaxoSmithKline PLC
- 6.3.5 Amway Corporation
- 6.3.6 Now Health Group Inc.
- 6.3.7 Pfizer Inc.
- 6.3.8 Herbalife International of America Inc.
- 6.3.9 Cipla Inc.
- 6.3.10 Dabur India Ltd
- 6.3.11 PlusPlus Lifesciences
- 6.3.12 EZZ
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. ABOUT US
** Subject To AvailablityAsia Pacific Dietary Supplements Industry Segmentation
Dietary supplements are mainly consumed to enhance the intake of essential nutritional components in the human body.
The market report of dietary supplements is segmented by type into vitamins, minerals, proteins and amino acids, herbal supplements, fatty acids, probiotics, and other types. by distribution channel. The market is segmented into supermarkets/hypermarkets, pharmacies and drug stores, convenience/grocery stores, online retail stores, and other distribution channels. By geography, the market is segmented into China, Japan, India, Australia, and the Rest of Asia-Pacific.
The market sizing has been done in value terms in USD for all the abovementioned segments.
| Type | Vitamins |
| Minerals | |
| Proteins and Amino Acids | |
| Herbal Supplements | |
| Fatty Acids | |
| Probiotics | |
| Other Types | |
| Distribution Channel | Supermarkets/Hypermarkets |
| Pharmacies and Drug Stores | |
| Convenience/Grocery Stores | |
| Online Retail Stores | |
| Other Distribution Channels | |
| Geography | China |
| Japan | |
| India | |
| Australia | |
| Rest of Asia-Pacific |
Asia Pacific Dietary Supplements Market Research FAQs
What is the current Asia-Pacific Dietary Supplement Market size?
The Asia-Pacific Dietary Supplement Market is projected to register a CAGR of 8.21% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Dietary Supplement Market?
Abbott Laboratories, Bayer AG, Amway Corporation, GlaxoSmithKline plc and The Carlyle Group are the major companies operating in the Asia-Pacific Dietary Supplement Market.
What years does this Asia-Pacific Dietary Supplement Market cover?
The report covers the Asia-Pacific Dietary Supplement Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Dietary Supplement Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia Pacific Nutritional Supplements Industry Report
Statistics for the 2024 Asia Pacific Nutritional Supplements market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia Pacific Nutritional Supplements analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
