Asia-Pacific Nutritional Supplement Market Definition

The human body develops and performs all the functions as needed with the help of minerals and vitamins. The nutrient needs of most people are met through a healthy diet. However, some others would need to take nutritional supplements to completely meet these needs. A nutritional supplement is a manufactured product, and it helps people to supplement their diet through the intake of capsules, tablets, pills, liquids, or powder. Nutrient supplements are rich sources of nutrients, which are either organic or synthetic and these provide body strength to stay healthy.

Asia-Pacific Nutritional Supplement Market: Key Insights

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. It was observed that since COVID-19 a majority of the population in Asia Pacific has been trying to lead a healthier lifestyle than in the past. Maintaining both physical and mental wellness has become people’s priority and is believed to remain so in the region in the coming years. Thus, 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.

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, liquids, 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

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 203o.

• Imminent Inhibition of the Functioning of Some Medicines – Even though, taking supplements is generally considered safe, these could affect the metabolism, absorption, and excretion of some medicines leading to the patients getting insufficient or excessive medication.

Market Segmentation

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

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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.

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