Asia-Pacific Nutritional Supplement Market Report Scope

Asia-Pacific Nutritional Supplement Market Highlights Over 2023 - 2033

The Asia-Pacific nutritional supplement market is estimated to garner a revenue of ~ USD 241 billion by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~ USD 140 billion in the year 2022. A nutritional supplement is a manufactured product, and it helps people to supplement their diet through the intake of capsules, tablets, pills, liquid, or powder. Nutrient supplements are rich sources of nutrients, which are either organic or synthetic. Growing Health Consciousness among the population is the primary factor driving the growth of the Asia-Pacific nutritional supplement market. It is estimated that ~55% of consumers in the Asia Pacific were proactive about wellness and health as of 2021.

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A willingness to pay for products with few or no preservatives, specific benefits, and hygiene, protection, and sustainability was also observed in the consumers of vitamins and dietary supplements in the Asia Pacific. It can be concluded that a majority of consumers understand the significance of nutritional supplements in filling the nutrient gaps in the diet and use it as per the instructions for the intake.

Asia-Pacific Nutritional Supplement Market: Growth Drivers and Challenges

Growth Drivers

• Rapid Growth of the Geriatric Population in the Region – The total number of older people in the Asia Pacific is projected to reach more than 1 billion by 2050. Often people who are above 50 experience a greater need for certain minerals and vitamins, including potassium, calcium, fiber, vitamin B12, and vitamin D, than when they were younger. Many doctors and dietitians prescribe vitamin or mineral supplements for their older patients and clients if a diet adjustment is not sufficient. This is thought to further the demand for vitamins and dietary supplements in the Asia Pacific.

• Growing Gross Domestic Product (GDP) Per Capita Income of the Region – Singapore in the Asia Pacific recorded a GDP per capita of over USD 59000 in 2020.

• Wide Prevalence of life Style Diseases – It is estimated that up to 60% of the ~19 million deaths related to cardiovascular diseases in the world in 2019 happened in Asia.

• Growing Presence of Fitness and Health Clubs – It is estimated in China alone the total number of health and fitness clubs in 2020 was over 26,000.

Challenges

• Varying Regulations in the Production of Nutrition Supplements Among Different Countries

• Inherent Possibility of Mild Risk in People with Particular Medical Conditions

• Imminent Inhibition of the Functioning of Some Medicines

The Asia-Pacific nutritional supplement market is segmented and analyzed for demand and supply by consumer type into infants, children, adults, pregnant, and geriatric. Of these, the adult segment is anticipated to hold the largest market size by the end of 2033. The growing prevalence of chronic diseases among the general population and the growing health consciousness and preference for a healthy lifestyle among young adults are the main factors creating a high demand for vitamins and dietary supplements in the Asia Pacific. For instance, the population with diabetes in India is projected to surpass 79 million by 2030.

Market Segmentation

Our in-depth analysis of the Asia-Pacific nutritional supplement market includes the following segments:

Key Companies Dominating the Asia-Pacific Nutritional Supplement Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Asia-Pacific nutritional supplement market that are included in our report are Nestlé, Abbott, Herbalife International of America, Inc., Amway Corp., GlaxoSmithKline plc, Dabur India Limited, Cipla Inc.,  Glanbia Nutritionals Inc, Pfizer Inc., Himalaya Wellness Company, and others.

Asia-Pacific Nutritional Supplement Market: Latest Developments

• February, 2022: Dabur India Limited – announced the launch of ‘Real Health Pumpkin Seeds’ and ‘Real Health Chia Seeds’ thereby expanding its Réal portfolio and marking its entry into the healthy snacking market to supplement the daily diet of consumers.

• December, 2021: Himalaya Wellness Company – announced a collaboration and a 19.9% share exchange with GenBio, Inc. on several products formulated to address inflammation and boost overall health, wellness, immunity, and human longevity.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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