Asia Pacific Nutritional Supplements Market Size, Share, And Trend Report

Asia Pacific Nutritional Supplements Market Size, Share, And Trend Analysis By Product (Sports Nutrition, Dietary Supplements, Functional Foods and Beverages), By Consumer Group, By Formulation, By Sales Channel, And Segment Forecasts, 2019 - 2025

  • Published Date: Nov, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-4-68038-105-4
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2018
  • Number of Pages: 80

Report Overview

The Asia Pacific nutritional supplements market size was estimated at USD 107.5 billion in 2018 and is projected to grow at a CAGR of 6.46% over the forecast period. The market is primarily driven by expanding GDP and growing geriatric population. Increasing number of product launch, high investment in APAC health industry, and rising consumer consciousness regarding health are among the few factors that are anticipated to drive the demand for Vitamin, Mineral, and Supplements (VMS) among consumers.

China Nutritional Supplements market

Growing consumer awareness about health & fitness, presence of low-cost raw materials & a large number of domestic players are some of the significant factors expected to drive the market growth. In 2018, China held the largest market share majorly owing to growing trend of fitness in the country and increasing sports participation. According to the survey of China Health Association, over 50% of the healthcare foods are consumed by middle-aged and geriatric population. According to the estimates of National Economic and Social Development in 2017, approximately 16.2% of the total Chinese population were above 60 years of age. 

Rising health consciousness and growing interest in sports activities are among the key factors driving the market growth in this region. For instance, in Singapore, mass participation in sports events including Men's Health Urbanathlon, Spartan Race, and The Color Run is increasing. In 2017, The Color Run witnessed participation of approximately 9,000 runners while Men's Health Urbanathlon hosted nearly 3,000 participants in Singapore.

A shift toward plant-based proteins including pea and rice protein can be observed owing to the increasing trend of veganism and vegetarianism. The preference for nutritional products differs across Asia. For instance, Chinese consumers prefer products with low sugar content while flavor and texture is crucial for Koreans.

Asia Pacific region has low-cost raw materials including plant-based ingredients such as ginkgo biloba. The popularity of traditional products is growing, which in turn is creating opportunities for local players to grow.

Product Insights

In 2018, functional foods accounted for the largest market share owing to rising demand for fortifying food additives and nutritional supplements such as vitamins & minerals, fibers, omega 3 fatty acids, and others. In addition, rise in consumer awareness related to health & fitness further propel the market growth of functional foods. Growing demand for functional ingredients and presence of large number of commercialized products in the market, which further contributes toward its large market share. 

However, sports nutrition segment is anticipated to grow lucratively in the coming years owing to increasing number of newer product launches, growing number of market players, rise in the number of gyms & fitness centers, and consequent increasing number gym goers. Moreover, shifting consumer base from core athletes to recreational users may boost demand for these products in the coming years.

Consumer Group Insights

Adult segment emerged as the largest consumer segment in 2018 with a revenue share of 29.4% owing to the presence of a large consumer base belonging to this age group. In China, 25.2% of the adult population suffers from high blood pressure. Thus, the need for nutritional supplements to manage these conditions and balance nutrient uptake is high among this population subset. Increasing purchasing power among this age group in China is enhancing health consciousness among the population.

The children segment is expected to emerge as the fastest growing segment with a CAGR of 7.48%. Increasing awareness about the benefits of nutritional & dietary supplements for children among parents are the key factors contributing to the Asia Pacific nutritional supplements market growth. The supplements targeted for pediatric population help in improving their physical and mental health.

Formulation Insights

In 2018, the powder formulation segment accounted for the largest share of the market and was valued at USD 43.2 billion. The key factors contributing to the largest share of this segment include high commercial presence of these supplements in powder form and higher preference for powder as compared to pills and soft gels form across all the age groups. Amino acids, proteins, carbohydrate supplements, vitamin supplement powders, fat burners such as caffeine, green tea extracts etc. mostly are sold in the form of supplement powders. Powders offer certain advantage over capsules and tablets as they readily dissolve and are rapidly absorbed by the body.

However, capsules segment is likely to grow at the fastest rate during the forecast period. Some of the supplements like some probiotics, omega-3 acids, and multivitamins are sold in the form of capsules. Newer type of capsules is being introduced into the market to improve the bioavailability, release and extend the benefits of the supplements. Other types like capsule technology are being considered as a creative solution to provide multiple supplements. Caffeine capsules with varying solubility would help in extended or continuous supply of energy throughout the workout. All these factors are expected to increase the adoption of capsules in sports supplements market.

Sales channel Insights

Bricks & mortar accounted for the largest revenue share of 70.9% in 2018. Presence of a large consumer base for brick & mortar channel, which includes specialty stores, super markets, hypermarkets, and pharmacies, can be attributed to this share. In addition, high consumer trust on this channel in comparison to e-commerce platforms further boosts its market share. However, growing number of e-commerce platforms, rising number of self-directed consumers, and increasing number of discounts on online platforms are boosting the demand for e-commerce.

Asia Pacific Nutritional Supplements market

Established retail stores are formulating some strategies to maintain their share in the retail business. Provision of personalized consulting prior to the purchase of a supplement is one such strategy. Ecommerce is expected to grow lucratively over the forecast period at a CAGR 7.43% owing to availability of large number of brands, offers & discounts, and a growing number of e-commerce players in the market.

Country Insights

Governments of many countries including China, Japan, Singapore, Malaysia, and India are progressively involved in increasing sports participation in their respective countries. For instance, in 2018, Khelo India was launched in India that aims to encourage sports participation in the country. Under this scheme, financial assistance and sports nutrition support will be provided to 1,000 athletes annually. China has also relaxed its regulations in online sales, which in turn is likely to fuel the demand for these supplements. Whey protein, collagen, and enzyme products are among the popular categories of products in China’s cross border e-commerce sales.

In addition, Asian countries including China, India, and Philippines are becoming hubs for outsourcing manufacturing and R&D activities. For instance, in 2017, Herbalife entered into a partnership agreement with Syngene International Ltd., an Asian contract research organization, for establishment of nutrition research and development lab in India. This region is dominated with large number of both small and big market players including Herbalife; Abbott Nutrition; and Danone Asia Pte. Ltd.

Key Companies & Market Share Insights

Key participants operating in the market include Glanbia plc; Nestle; Abbott Nutrition; Herbalife International of America, Inc.; and Amway. Increasing investments on R&D, mergers & acquisitions, geographic expansions, collaborations with other industry players, and product & flavor differentiation are among the crucial strategies adopted by these companies for gaining a competitive edge in the market.

Asia Pacific Nutritional Supplements Market Report Scope

Report Attribute

Details

Market size value in 2020

USD 122.5 billion

Revenue forecast in 2025

USD 167.3 billion

Growth Rate

CAGR of 6.46% from 2019 to 2025

Base year for estimation

2018

Historical data

2014 - 2018

Forecast period

2019 - 2025

Quantitative units

Revenue in USD million and CAGR from 2019 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, formulation, consumer group, sales channel, country

Regional scope

Asia Pacific

Country scope

Japan; India; China; Australia; South Korea

Key companies profiled

Glanbia plc.; Nestle; Abbott Nutrition; Herbalife; International of America, Inc.; Amway

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Segments covered in the report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis on industry trends in each of the subsegments from 2014 to 2025. For the purpose of this study, Grand View Research, Inc. has segmented the Asia Pacific nutritional supplements market report on the basis of product, formulation, consumer group, sales channel, and country:

  • Product Outlook (Revenue, USD Million, 2014 - 2025)

    • Sports nutrition

    • Dietary supplements

      • Vitamin

      • Mineral

      • Enzymes

      • Amino acids

      • Others

    • Functional foods and beverages

  • Formulation Outlook (Revenue, USD Million, 2014 - 2025)

    • Tablets

    • Capsules

    • Liquid

    • Powder

    • Softgels

    • Others

  • Consumer Group Outlook (Revenue, USD Million, 2014 - 2025)

    • Infants

    • Children

    • Adults

      • Age group 21 - 31

      • Age group 31 - 40

      • Age group 41 - 50

      • Age group 51 - 65

    • Pregnant

    • Geriatric

  • Sales Channel Outlook (Revenue, USD Million, 2014 - 2025)

    • Brick and mortar

    • Ecommerce

  • Country Outlook (Revenue, USD Million, 2014 - 2025)

    • China

    • Japan

    • India

    • Australia

    • South Korea

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