Dietary supplements come in the form pills, capsules, powders, gel tabs and liquids. They are intended to supplement the diet with essential macro or micronutrients that a person may not acquire in sufficient quantities through regular food intake. Some key product types include vitamin, mineral, botanical, enzymes, fatty acids, proteins and combinations.

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 Dynamics:
One of the major drivers fueling the growth of Indonesia dietary supplements market is the increasing consumer awareness on healthier lifestyles. There has been a notable rise in the prevalence of chronic diseases such as cardiovascular disorders, diabetes, obesity and cancer in Indonesia in recent years. This is majorly attributed to rapidly changing lifestyles and dietary patterns of the population. According to WHO, obesity rate increased from 4.7% in 1995 to 10.6% in 2019 in Indonesia due to excess calorie intake and lack of physical activity. Moreover, increasing urbanization and hectic schedules have reduced time for physical exercise and home cooked meals, forcing individuals to opt for processed and packaged foods which are often high in calories, fat and sugar. In order to supplement their nutrient intakes, customers are increasingly using dietary supplements. Furthermore, the increasing demand for nutritional supplements containing active ingredients such as vitamins, minerals, herbal extracts and probiotics is expected to propel the market growth over the forecast period.

SWOT Analysis

Strength: Indonesia has the fourth largest population in the world with over 270 million people. This large population presents a huge opportunity for dietary supplement manufacturers and retailers to tap into. The Indonesian government is also working to improve public healthcare and awareness about nutrition. This will drive greater demand for dietary supplements. Indonesia also has a healthy economic growth rate which increases discretionary spending on wellness products.

Weakness: Consumer awareness about benefits of dietary supplements is still relatively low in Indonesia compared to developed western markets. Lack of proper regulation has also led to proliferation of low-quality or fake supplements. This erodes customer trust in the industry over time. High import duties on raw materials increase production costs as well.

Opportunity: Rising health consciousness and incomes are encouraging more Indonesians to adopt preventive healthcare through supplements. Specific segments like sports nutrition, herbal supplements and vitamins are growing rapidly. E-commerce is also opening new sales channels for dietary supplements manufacturers. The government's push for public healthcare can be leveraged through awareness campaigns.

Threats: Stiff competition from inexpensive traditional medicines and lack of differentiation between local brands increases price wars. Any economic slowdown can negatively impact discretionary spending quickly. Stronger regulations on product quality and industry practices may increase compliance costs.

Key Takeaways

The global Indonesia dietary supplements market is expected to witness high growth over the forecast period of 2023 to 2030 supported by Indonesia's rising health awareness, increasing incomes and a large population base. The global dietary supplements market is estimated to be valued at US$ 2192.85 Mn in 2023 and is expected to exhibit a CAGR of 8% over the forecast period 2023 to 2030.

Regional analysis: The Java region holds the largest share of the Indonesian dietary supplements market currently due to the high population density in cities like Jakarta. However, other regions like Sumatra and Kalimantan are growing at a faster rate supported by increasing urbanization. The sports and herbal supplements categories are the most popular across all regions.

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 but the market is dominated by large multinationals for patented supplements. These companies are focusing on new product launches, partnerships and branding initiatives to strengthen their position.

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