Asia Pacific Dietary Supplements Market Introduction
The Asia Pacific Dietary Supplements market is estimated to reach USD XXX billion by 2025, from a valuation of USD XXX billion in 2016. The growth is mainly attributed to the increasing population and rising awareness about the benefits of dietary supplements in various parts of the region.
The Asia Pacific Dietary Supplements market has been segmented on the basis of product type, which includes multivitamins, minerals, herbals, probiotics, and others. On the basis of distribution channels, the market has been classified into online retail and offline retail. The online retail segment is expected to account for the largest share of the Asia Pacific Dietary Supplements market during 2016-2025. The driving factors for this are a rising preference for e-commerce among consumers and increasing penetration of smartphones and tablets in the region.
Asia Pacific Dietary Supplements Market (2019-2025)
The Asia Pacific Dietary Supplements market is estimated to be XX million US$ in 2019 and XX million US$ by 2025, growing at a CAGR of XXXX% between 2019 and 2025. This report covers the present scenario and the growth prospects of the Asia Pacific Dietary Supplements market for the period 2019-2025.
This report focuses on the dietary supplements market in Asia Pacific, including China, Japan, India, Southeast Asia, and South Korea. The regional analysis covers development trends, competitive landscape, and major manufacturers.
This report presents a comprehensive overview of the dietary supplements industry across the Asia Pacific. The report provides an analysis of historic growth rates (2014-2019), key market segmentation, and current market dynamics. The study evaluates the manufacturing bases of leading manufacturers in each region and forecasts their sales/output during the forecast period 2019-2025.
In addition to this detailed regional analysis, this report includes an overview of the regulatory environment for dietary supplements in different countries across the Asia Pacific. Major regulatory agencies such as the Food & Drug Administration (US), Health Protection Branch (Canada), Medicines Control Bureau (India), Ministry of Health (Japan), Food Standards Agency (Singapore), etc are profiled in detail respect to their respective dietary supplement regulations.
Leading Companies in the Asia Pacific Dietary Supplements Market
The Dietary Supplements market in Asia Pacific is estimated to grow at a CAGR of XXX% during the forecast period 2018-2023. The market is expected to be valued at US$ XXXX million by 2023.
Some of the key drivers that are expected to propel the growth of this market include the rising geriatric population and increasing awareness of the importance of dietary supplements for overall health. Additionally, increasing the adoption of preventive measures such as routine screenings for chronic diseases is also expected to fuel the growth of this market. However, some restraints that could hamper the growth of this market include improper dosage and a lack of knowledge about the benefits of dietary supplements among consumers in certain regions.
The top three companies in this market are Nature Made®, Herbalife International, and GNC Holdings Inc. These companies are engaged in manufacturing and marketing dietary supplements across various geographies. Other major players in this market include Jarrow Formulas®, Swanson Health Products®, Twinlab Corporation Ltd., The Vitamin Shoppe®, Ajinomoto Co., Ltd., Healthforce Nutritionals LLC., and NuGenerix Limited.
Asia Pacific Dietary Supplements Market Drivers and Restraints
The market is estimated to grow from USD XX million in 2017 to USD XX million by 2022, at a CAGR of XX%. The key factors driving this market are the increasing awareness about diet and health, the growing population in developing countries, and the increasing demand for supplements among the population.
Restraints on the market include the high cost of production and lack of regulatory approvals.
The market is forecast to grow at a CAGR of XXX% during the period 2016-2020. This growth is due to various factors such as increasing awareness about dietary supplements and an increase in the population that is looking to take advantage of their health benefits. There are a number of drivers influencing the market, such as increasing demand from the pharmaceutical and nutraceutical industries, growing geriatric population, and rising incidence of chronic diseases. Restraints on the market include high price tags and low penetration rates among consumers.
The market is dominated by active ingredients such as vitamins, minerals, fiber, herbs, and antioxidants. These products are broadly classified into categories such as multivitamins, minerals, ginseng extracts, herbs & spices extracts, probiotics/prebiotics, soy protein isolates & concentrates, and others. The major players in the global dietary supplements market are Herbalife Ltd., Swisse Roche Holdings Ltd., Novartis AG., GlaxoSmithKline plc., Abbott Laboratories Inc., BASF SE, Janssen Pharmaceuticals Inc., and Ingeo SAS.
Asia Pacific Dietary Supplements Market Opportunity Analysis
The market is expected to grow at a CAGR of XX% during the period 2016-2021. The growth is attributed to the increasing demand for dietary supplements in the Asia Pacific and rising awareness about their benefits.
The key drivers of this market are the increasing number of people who are overweight or obese and the growing prevalence of chronic diseases such as diabetes, cancer, and heart disease in this region. Furthermore, the growing awareness about the importance of a healthy diet among people in the Asia Pacific is also contributing to the growth of this market.
The major players in this market are La Jolla Pharmaceuticals Corporation (U.S.), Nature Made Products Inc. (U.S.), The Vitamin Shoppe, Inc. (U.S.), Abbott Laboratories (U.S.), GSK Plc (U.K.), and Novartis AG (Switzerland).
Conclusion
The Asia Pacific Dietary Supplements Industry is expected to grow at a CAGR of XXXX% during 2019-2025. The increasing prevalence of chronic diseases and the consequent increase in the number of individuals who are looking for dietary supplements to improve their health is one key factor fuelling the market growth. Other key drivers include growing consumer awareness about the benefits of dietary supplements, increased focus on preventive healthcare, and increasing investments in R&D activities by manufacturers.