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Asia-Pacific Dietary Supplement Market Size (2024 - 2029)

The Asia-Pacific dietary supplements market is poised for significant growth, driven by increasing consumer awareness of health and well-being, and the rising popularity of personalized nutrition. The market's expansion is supported by factors such as higher healthcare spending, an aging population, and a growing interest in preventative healthcare and wellness through nutrition. The demand for energy and weight management solutions is also on the rise, fueled by the proliferation of gyms and fitness centers and a heightened fitness consciousness among younger consumers. Additionally, the growing acceptance of sports as a career is boosting the demand for sports nutrition. However, the market faces challenges due to stringent regulations on product labeling and health claims, which could impact its growth trajectory.

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Market Size of Asia-Pacific Dietary Supplement Industry

Asia-Pacific Dietary Supplement Market Summary
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

Major Players

Asia-Pacific Dietary Supplement Market Major Players

*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 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
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Asia-Pacific Dietary Supplement Market Size Summary

The Asia-Pacific dietary supplements market is poised for significant growth, driven by increasing consumer awareness of health and well-being. The region is witnessing a surge in demand for personalized nutrition and nutrigenomics, catering to diverse age groups. This trend is further fueled by the busy lifestyles of the working population, who find it challenging to meet their nutritional needs through regular diets. The market is also benefiting from rising healthcare spending, an aging population, and a growing interest in preventive healthcare and wellness through nutrition. The demand for sports nutrition is on the rise, supported by the increasing acceptability of sports as a career and the proliferation of gyms and fitness centers. However, the market faces challenges due to stringent regulations on product labeling and health claims.

Countries like India, China, and South Korea are at the forefront of this market expansion, with India emerging as one of the fastest-growing markets. The shift in consumer behavior towards health and wellness, coupled with lifestyle changes leading to various health issues, has heightened the demand for dietary supplements. The preference for clean-label products, including non-GMO and gluten-free ingredients, is gaining traction. The availability of raw materials in India and Southeast Asia presents significant investment opportunities, particularly for herbal and Ayurveda-based products. Major players in the region, such as Abbott Laboratories, GlaxoSmithKline, and Amway, are actively engaged in product innovation to meet the evolving consumer demands.

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Asia-Pacific Dietary Supplement Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Vitamins

      2. 2.1.2 Minerals

      3. 2.1.3 Proteins and Amino Acids

      4. 2.1.4 Herbal Supplements

      5. 2.1.5 Fatty Acids

      6. 2.1.6 Probiotics

      7. 2.1.7 Other Types

    2. 2.2 Distribution Channel

      1. 2.2.1 Supermarkets/Hypermarkets

      2. 2.2.2 Pharmacies and Drug Stores

      3. 2.2.3 Convenience/Grocery Stores

      4. 2.2.4 Online Retail Stores

      5. 2.2.5 Other Distribution Channels

    3. 2.3 Geography

      1. 2.3.1 China

      2. 2.3.2 Japan

      3. 2.3.3 India

      4. 2.3.4 Australia

      5. 2.3.5 Rest of Asia-Pacific

Asia-Pacific Dietary Supplement Market Size FAQs

The Asia-Pacific Dietary Supplement Market is projected to register a CAGR of 8.21% during the forecast period (2024-2029)

Abbott Laboratories, Bayer AG, Amway Corporation, GlaxoSmithKline plc and The Carlyle Group are the major companies operating in the Asia-Pacific Dietary Supplement Market.

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Asia Pacific Dietary Supplements Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)