Protein Powder Is The Largest Segment Driving The Growth Of...

Protein Powder Is The Largest Segment Driving The Growth Of Indonesia Dietary Supplements Market

Posté 2023-11-15 04:26:36

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The global Indonesia Dietary Supplements Market is estimated to be valued at US$ 2192.85 Mn or Mn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Indonesia dietary supplements market includes products such as vitamins, sports nutrition, fatty acids, proteins and others. These supplements are widely consumed to meet daily nutrition requirements and to enhance performance and physical appearance. Growing health consciousness coupled with rising disposable income has boosted the demand for dietary supplements in Indonesia.

Market key trends:
One of the key trends witnessed in the Indonesia dietary supplements market is the shift towards plant-based supplements from conventional animal-based supplements. This is majorly due to rising veganism and flexitarianism trends in Indonesia. According to Indonesia Vegan Society, the number of vegans and vegetarians increased by 30% between 2018 to 2020. This has triggered increased demand for plant-based protein powders, oils, and other herbal supplements. Moreover, rising health issues like obesity, diabetes and cardiovascular diseases have further fueled the demand for dietary supplements for weight management and therapeutic remedies in the country. The growing demand is being catered by key players through product innovation, awareness programs and strategic marketing initiatives.

Market key trends:
The Indonesia dietary supplements market has been witnessing high growth owing to rising health awareness among consumers and busy lifestyle leading to nutrition deficiencies. With increasing promotional activities by manufacturers and availability through multiple distribution channels, consumers are increasingly adopting dietary supplements to meet their daily nutrition needs in a convenient way. Moreover, rising disposable incomes have enabled consumers to spend more on health and wellness products for a better quality of life.

SWOT Analysis
Strength: Growing health awareness and busy lifestyles leading to increased demand.
Weakness: Low penetration in rural areas due to lack of awareness and distribution channels.
Opportunity: Scope for new product innovation and launches catering to specific health targets.
Threats: Stringent regulatory framework and counterfeit products can undermine consumer trust.

Key Takeaways
Indonesia Dietary Supplements Market Demand is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing health awareness among consumers. The market size for 2023 is US$ 2192.85 Mn.

Regional analysis: Indonesia dominates the dietary supplements market in Southeast Asia owing to the large population and growing middle class. The western region of Indonesia also exhibits faster growth in uptake of supplements due to higher disposable incomes.

Key players operating in the Indonesia dietary supplements market include ADM, PT Darya-Varia Laboratoria Tbk, Citra Nusa Insan Cemerlang PT, Sido Muncul PT, The Tempo Group, Bayer AG, BASF SE, Pfizer Inc., Nature’s Sunshine Products, Inc., Amway, and Glanbia PLC.