Asia-Pacific Dietary Supplement Market - Growth, Trends, and Forecast (2019-2024)

Asia-Pacific dietary supplement market is segmented by Ingredient (Vitamins, Botanicals, Minerals, Amino Acids, Enzymes, Proteins, and Others), and Geography.

Market Snapshot

snapshot
Study Period:

2016-2024

Base Year:

2018

CAGR% (2019-2024):

8.4%

Largest Market:

China

Fastest Growing Market:

India

Key Players:

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Market Overview

The Asia-Pacific Dietary Supplement Market is forecasted to reach USD 72.7 billion by 2024, witnessing a CAGR of 8.4% during the forecast period (2019 - 2024).

  • Growing awareness about the need for dietary supplements in China and India is acting favorably for the market. 
  • Personalized nutrition is gaining popularity among consumers in the Asia-Pacific region, as there is an emerging market for nutrigenomics and individualized products.
  • Due to the growing popularity of energy-mix powders, among athletes and bodybuilders, the demand for powdered form of supplements is high, which is set to witness a prominent CAGR during the forecast period.

Scope of the Report

The scope of the Asia-Pacific dietary supplement market includes segmentation of dietary supplement on the basis of ingredients under Vitamins, Botanicals, Minerals, Amino Acids, Enzymes, Proteins, and Others. 

By Ingredient
Vitamins
Botanicals
Minerals
Amino Acids
Enzymes
Protein
Other Ingredients
Geography
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific

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Key Market Trends

Health Expenditure by Countries

Developing nations across the region of Asia-Pacific have been observed to spend heavily on their health care and welfare. Notably, Japan accounted for 10.23% of its GDP as expenditure in terms of healthcare as compared to other countries of the region and recorded. Australia was no less in terms of expenditure on healthcare and spent 9.42% of its GDP in the year 2015. The high expenditure by such countries signifies the changing consumer behavior towards healthcare and surging demand for healthcare products like dietary supplements. Other developing countries like South Korea, China and India are creating demand for dietary supplements and are expected to grow in forecast period.

trend 1

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India Fastest Emerging Market

India has observed a significant growth in the dietary supplement market over the years, registering 11.5% CAGR, making it the fastest growing market in the region. The Indian Ministry of Health and Family Welfare has launched several programs to handle the malnutrition issue in the country. For instance, it is offering vitamin A supplements to children of different age groups to overcome the deficiency. In the India dietary supplement market, the vitamin segment accounted for the maximum share in 2017, nearly 37% of the total market.

trend2

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Competitive Landscape

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 getting engaged in product innovation and improve their procedures towards organic and herbal supplement production. The major players in the region are Abbott Laboratories, The Carlyle Group, GlaxoSmithKline PLC, Amway Asia-Pacific Ltd., and Bayer AG.

Major Players

  1. Abbott Laboratories
  2. Amway Corporation
  3. Glanbia, Plc
  4. Bayer AG
  5. DuPont

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Ingredient

      1. 5.1.1 Vitamins

      2. 5.1.2 Botanicals

      3. 5.1.3 Minerals

      4. 5.1.4 Amino Acids

      5. 5.1.5 Enzymes

      6. 5.1.6 Protein

      7. 5.1.7 Other Ingredients

    2. 5.2 Geography

      1. 5.2.1 China

      2. 5.2.2 Japan

      3. 5.2.3 India

      4. 5.2.4 South Korea

      5. 5.2.5 Australia

      6. 5.2.6 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Abbott Laboratories

      2. 6.4.2 The Carlyle Group

      3. 6.4.3 Bayer AG

      4. 6.4.4 GlaxoSmithKline PLC

      5. 6.4.5 Amway Corporation

      6. 6.4.6 Glanbia, Plc

      7. 6.4.7 Pfizer Inc.

      8. 6.4.8 Herbalife Limited

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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