by Dietary supplements are consumed to improve overall health and well-being. Some key products in the market include vitamins, minerals, botanicals, probiotics, proteins, and others. Dietary supplements are available in various forms such as tablets, capsules, liquids and powders and provide various health benefits like improving immunity, heart health, digestive health and muscle gain without any harmful side effects. The increasing prevalence of lifestyle diseases like diabetes, obesity and cardiovascular issues have fueled the demand for dietary supplements for disease prevention and treatment in Indonesia.
The global Indonesia Dietary Supplements Market is estimated to be valued at US$ 2192.85 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising health consciousness among Indonesian consumers has been a key trend driving the growth of the Indonesia dietary supplements market. There is a growing preference for proactive healthcare approach over reactive treatment of diseases. Consumers are increasingly consuming supplements for maintaining overall wellness as well as preventing and managing chronic conditions. Various supplements containing ingredients like vitamins, minerals, herbs, probiotics etc. are marketed as products that can boost immunity, provide antioxidant support and promote digestive, brain and heart health. The availability of superior quality supplements with scientifically validated ingredients is persuading more people to include supplements in their daily health routine.
SWOT Analysis
Strength: The increasing health awareness among the growing Indonesian middle-class population is driving the demand for dietary supplements in the country. Rising disposable income allows consumers to spend more on healthy lifestyle products.
Weakness: Lack of proper regulatory guidelines leads to the circulation of spurious and low-quality supplements in the market. This erodes customers’ trust in the category.
Opportunity: Rapid urbanization and changing food habits are creating opportunities for supplement brands to offer products targeting consumers’ evolving nutritional needs. The adoption of vegan and organic variants presents an untapped potential.
Threats: Strict government regulations and compliance requirements pose operational challenges for manufacturers and distributors. Intense competition from local players impacts profit margins of established brands.
Key Takeaways
The global Indonesia dietary supplements market is expected to witness high growth over the forecast period. Rising health consciousness and increasing urban population are fueling the demand for supplements in Indonesia. The global Indonesia Dietary Supplements Market is estimated to be valued at US$ 2192.85 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030.
Regional analysis: The Java region dominates Indonesia’s dietary supplements market, accounting for over 35% revenue share in 2023. The high population density and extensive retail network in cities like Jakarta and Surabaya drive the sales of supplements. East Java and Bali are also lucrative regions expected to grow at a steady pace during the forecast years.
Key players: Key players operating in the Indonesia dietary supplements market are AbbVie Inc., Janssen Global Services, Johnson & Johnson, F. Hoffmann-La Roche Ltd, Amgen Inc., Pfizer Inc., Novartis, Astellas, Bristol-Myers Squibb Company, Merck Sharp & Dohme Corp., UCB SA, and Allergan plc. Local players also have a strong presence catering to price-sensitive buyers in smaller cities and towns across the country. Innovation in product formulations and marketing strategies will help companies gain market share.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
