Increasing healthcare awareness among Indonesian people especially in the mid-age generation is expected to have a positive impact on the growth of Indonesia dietary supplement market over the forecast period. 50% of the Indonesian population falls under the age of 30. With such a huge young population, supported by their changing dietary habits due to busy lifestyles, is projected to boost demand for vitamin supplements. The Indonesia dietary supplements market is expected to surpass US$ 3,177.51 million by the end of 2028 in terms of revenue, exhibiting a CAGR of 7.7% during the forecast period (2021 to 2028).
Rising awareness regarding health & wellbeing and increasing health issues at all age levels across Indonesia are expected to drive the growth of dietary supplements market in the country. Moreover, government healthcare campaigns in association with local dietary supplements manufacturers to increase awareness about the benefits of vitamins and other essential nutrients are projected to boost the growth of the dietary supplements market in Indonesia. For instance, the Indonesian National Health Development Program is supported by hospitals and other community-based health care facilities. The Ministry of Health (MoH) has overall responsibility for the nation’s health care policy. It manages and operates health care programs, including staffing, education and training, and health services.
Strict Government Regulations Imposed on Food Supplements. For instance, government authorities such as BPOM (Badan Pengawas Obat dan Makanan), Kementrian Kesehatan (Ministry of Health), and Kementrian Perdagangan (Ministry of Trade of Goods) have control of all healthcare policies and regulations in Indonesia. These factors are some of the key reasons restraining the market growth.
Expansion of the food and beverage industry in Indonesia is expected to provide lucrative opportunity to the dietary supplements market. For instance, aaccording to the Indonesian Food and Beverage Association (Gapmmi) study, Indonesia's food and beverage industry showed significant growth of around 8.5% (y/y) in 2017. In addition, Indonesia is the most lucrative market for Foreign Direct Investment (FDI). According to Badan Koordinasi Penanaman Modal (BKPM) data, FDI in Indonesia's food and beverage industry accounted for US$ 1.5 billion in 2015. Expansion of food industry is expected to create opportunities for global and local key players to tap the potential market for dietary supplements, especially in emerging economies.
Figure 1. Indonesia Dietary Supplements Market – Opportunity Analysis
Increasing health consciousness among Indonesian consumers is expected to drive the market growth. Moreover, factors such as the absence of physical activity, rising sedentary lifestyles, and changes in eating habits have increased the occurrences of various lifestyle diseases such as blood pressure, diabetes, cardiovascular problems, obesity, etc.
Indonesia Dietary Supplements Market Report Coverage
|Base Year:||2020||Market Size in 2021:||US$ 1,890.50 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2021 to 2028|
|Forecast Period 2021 to 2028 CAGR:||7.7%||2028 Value Projection:||US$ 3,177.51 Mn|
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
|Restraints & Challenges:||
Figure 2. Indonesia Dietary Supplements Market Revenue Share (%), By Application, 2020
On the basis of application, the medicinal supplements segment dominated the Indonesian dietary supplements market in 2020, accounting for 66% of the market share, in terms of revenue.
Indonesia Dietary Supplements Market- Impact of Coronavirus (Covid-19) Pandemic
Indonesia dietary supplements market is expected to witness a surge in growth in 2021, owing to the rising demand for immunity health products. Supplements such as vitamin C, vitamin D, zinc, and B3 vitamins offers primary and secondary COVID-19 prevention. Moreover, according to the Journal of dietary supplements, nutritional supplements, including several vitamins and the mineral zinc, are useful in preventing the infection or reducing severity of COVID-19.
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
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