The Indonesia dietary supplements market plays a vital role in meeting the nutritional needs of consumers in Indonesia. Dietary supplements such as vitamins, minerals, botanicals, amino acids, and enzymes are consumed to improve overall health or provide support for specific health-related conditions. The market comprises supplements that are typically used to supplement the intake of one or more nutrients from food. Some key product types in this market include vitamin supplements, mineral supplements, botanical supplements, fatty acids supplements, and other dietary supplements and functional foods.
The global Indonesia dietary supplements market is estimated to be valued at US$ 4.8 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising health concerns stemming from lack of nutrients in regular diet and busy lifestyle patterns have boosted demand for dietary supplements in Indonesia over the past few years. The growing participation of Indonesian consumers in recreational sports and other physical activities has further driven the need for dietary supplements to maintain nutrition and health. Consumption of dietary supplements is also increasing among the elderly population to address age-related nutritional deficiencies. Additionally, promotion of preventive healthcare and holistic wellness through dietary intake is another major factor fueling the Indonesia dietary supplements industry. Changing food habits and increasing prevalence of lifestyle diseases have reinforced the relevance and sales of supplements.
Furthermore, aggressive promotion by supplement companies, wider availability through multiple distribution channels including hypermarkets, pharmacies, and e-commerce, and reliable product information are some other key determinants positively shaping the Indonesia dietary supplements landscape.
SWOT Analysis
Strength: Indonesia has a large population with increasing health awareness. The growing middle class and disposable incomes are driving demand for dietary supplements. Product preferences are shifting towards herbal and natural supplements.
Weakness: Regulations around product quality, safety and labeling are still evolving. Some supplements may contain harmful or banned ingredients. Counterfeit products are also a concern. Lack of standardization leads to variation in product quality.
Opportunity: Rising chronic diseases and lifestyle issues offer scope for targeted supplements. Growing elderly population will buoy demand for supplements addressing joint pain, memory, brain health etc. E-commerce is gaining popularity which can help expand reach.
Threats: Economic slowdown could impact discretionary spending on supplements. Strict regulations proposed by authorities may disrupt certain categories or brands. Increased competition from global players and own brands of retailers.
Key Takeaways
The Global Indonesia Dietary Supplements Market Size is expected to witness high growth. The increasing prevalence of chronic and lifestyle diseases is driving the demand for supplements. Indonesia has witnessed rising cases of diabetes, obesity, and cardiovascular issues fueled by changing dietary patterns and sedentary jobs in large cities. With growing health awareness, many consumers are turning to supplements to address nutritional deficiencies and manage health conditions. The global Indonesian Dietary Supplements Market is estimated to be valued at US$ 1.5 billion in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023-2027.
Regional analysis comprises Indonesia dominates the dietary supplements industry in Southeast Asia due to its large population of over 270 million. Jakarta, Surabaya, and Bandung are the key markets contributing to high sales. Herbal supplements products are particularly popular due to cultural acceptance of traditional remedies. However, the potential remains untapped in rural and tier II/III cities where penetration of supplements is relatively low.
Key players operating in the Indonesia dietary supplements market are Dabur Indonesia, Pharmactive, Indofood Suntory, and Kalbe Farma. Dabur Indonesia leads with its portfolio of Ayurvedic supplements and brands like Dabur Chyawanprash, Dabur Honey, and Dabur Giloy Tablets. Pharmactive specializes in herbal extracts and offers supplements for immunity, joint health, and liver care. Indofood Suntory participates through its nutrition brand Sariwangi. Kalbe Farma sells supplements through its large pharmacy network in the country.
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