The Middle East & Southeast Asia dietary supplements market is projected to grow from US$ 17.04 billion in 2023 to US$ 30.72 billion by 2031. The market is expected to record a CAGR of 7.6% from 2023 to 2031.
The report includes growth prospects owing to the current Middle East & Southeast Asia dietary supplements market trends and their foreseeable impact during the forecast period.
The Middle East & Southeast Asia dietary supplements market growth is majorly attributed to rising health expenditure and increasing awareness regarding the health benefits offered by dietary supplements. There is a rise in healthcare expenditure due to the increasing number of the aging society, improved medical facilities, rising obesity cases, and increasing number of the insured population. Furthermore, developing countries in Southeast Asia and the Middle East are investing heavily in healthcare and welfare. The high expenditure by such countries reflects changing consumer behavior toward healthcare and rising demand for healthcare products such as dietary supplements.
Growth Drivers and Challenges:
In recent years, the dietary supplements market has experienced various advancements in terms of new product delivery formats. For instance, traditional hard and soft gelatine capsules, lozenges, tablets, powders, and liquids are now being replaced by several other types of supplement forms, such as gummies, bilayer tablets, or granules. Manufacturers are focusing on providing customized dosage formats to their loyal customers which also resolves their problems related to traditional pill swallowing and pill fatigue. Due to increased product innovation and rising consumer desire for personalization in the supplement sector, consumers now have access to a diverse selection of delivery forms to suit their specific lifestyles and preferences, providing the industry with the option to solve swallowing issues and cater to increased consumer demand for customization. As a result, manufacturers are focusing on innovations and are launching new products in different forms and flavors. For instance, in March 2020, the US-based vitamin gummy brand expanded its retail presence across Singapore to meet the rising demand for gummy supplements. On the other hand, in November 2023, Boncha Bio signed a partnership agreement with DSM-Firmenich at the Vitafoods Asia 2023 exhibition to introduce novel formats of dietary supplements such as candyceuticals. Thus, such innovations are expected to contribute to the growing Middle East & Southeast Asia dietary supplements market size over the coming years.
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Middle East & Southeast Asia Dietary Supplements Market: Strategic Insights
Middle East & Southeast Asia Dietary Supplements Market
-
CAGR (2023 - 2031)
7.6%
-
Market Size 2023
US$ 17.04 Billion
-
Market Size 2031
US$ 30.72 Billion
Market Dynamics
GROWTH DRIVERS
- Increasing Health Concerns
- Rising Product Innovation
FUTURE TRENDS
- Beauty-From-Within Trend
OPPORTUNITIES
- Booming E-pharmacies and Online Retail Sector
Key Players
- Haleon group of companies
- Herbalife
- Life-Space Group Pty Ltd
- Swisse Wellness Pty Ltd
- GNC
- Meridlife
- ALLNATURE
- Blackmores
- Bayer AG
- 21st Century Singapore
Regional Overview
- Middle East, Southeast Asia
Market Segmentation
Form
- Tablets
- Capsules
- Softgels
- Powders
- Gummies
- Liquids
- Others
Packaging Type
- Bottles and Jars
- Tins and Cans
- Stand Up Pouches and Cartons
- Sachets and Other Pouches
- Blisters and Strips
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Middle East & Southeast Asia Dietary Supplements Market: Strategic Insights
-
CAGR (2023 - 2031)7.6% -
Market Size 2023
US$ 17.04 Billion -
Market Size 2031
US$ 30.72 Billion
Market Dynamics
- Increasing Health Concerns
- Rising Product Innovation
- Beauty-From-Within Trend
- Booming E-pharmacies and Online Retail Sector
Key Players
- Haleon group of companies
- Herbalife
- Life-Space Group Pty Ltd
- Swisse Wellness Pty Ltd
- GNC
- Meridlife
- ALLNATURE
- Blackmores
- Bayer AG
- 21st Century Singapore
Regional Overview
- Middle East, Southeast Asia
Market Segmentation
Form - Tablets
- Capsules
- Softgels
- Powders
- Gummies
- Liquids
- Others
Packaging Type - Bottles and Jars
- Tins and Cans
- Stand Up Pouches and Cartons
- Sachets and Other Pouches
- Blisters and Strips
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Segmentation and Scope:
The Middle East & Southeast Asia dietary supplements market analysis is carried out by considering the following segments: form and packaging type. Based on form, the market is divided into tablets, capsules, softgels, powders, gummies, liquids, and others. By packaging type, the market is segmented into bottles and jars, tins and cans, stand up pouches and cartons, sachets and other pouches, and blisters and strips.
Segmental Analysis:
Based on form, the Middle East & Southeast Asia dietary supplements market is segmented into tablets, capsules, softgels, powders, gummies, liquids, and others. The capsules segment holds a significant Middle East & Southeast Asia dietary supplements market share, whereas the gummies segment is expected to register the fastest CAGR from 2023 to 2031. Gummies are witnessing strong traction owing to their unique flavors, colors, and shapes. The demand for gummy supplements has significantly increased in Indonesia, especially after the COVID-19 outbreak, as people have become more health-conscious. The demand for vitamin C, zinc, iron supplements, and multivitamins has grown significantly after the COVID-19 outbreak. According to YOUVIT, an Indonesia-based gummy supplements manufacturer, in March 2020, the sales of gummies nearly tripled in February and soared even more in April. With increasing concerns regarding health and wellness among people, the demand for gummy supplements is expected to remain constant, driving the Middle East & Southeast dietary supplements market.
Country Analysis:
The increasing aging population in Southeast Asia is a significant driver for the Middle East & Southeast Asia dietary supplements market. According to the Asia Health and Wellbeing Initiative, the number of senior citizens aged 65 and above in East and Southeast Asia alone is expected to reach 572.5 million by 2050. The aging population has a greater likelihood of experiencing health problems such as joint pain, mobility issues, diabetes, and cholesterol. Therefore, the region is experiencing significant demand for supplements that aid joint health, improve mobility, and prevent diabetes and heart issues. Thus, the rising aging population is driving the Middle East & Southeast Asia dietary supplements market growth.
The scope of the Middle East & Southeast Asia dietary supplements market report focuses on Thailand, Malaysia, Vietnam, Philippines, Indonesia, and Singapore. Indonesia accounted for the significant Middle East & Southeast Asia dietary supplements market share in 2023. The demand for dietary supplements, especially after the COVID-19 outbreak, has increased throughout the country. In an attempt to combat several illnesses, consumers are increasingly purchasing immune-boosting and nutrient-dense supplements. The increased preventive healthcare activities and rising consumption of dietary supplements to boost immunity are also driving the market growth.
Industry Developments and Future Opportunities:
As per company press releases, a few initiatives taken by key players operating in the Middle East & Southeast Asia dietary supplements market are listed below:
- In October 2022, Unilever invested in Youvit. The funds will be used by Youvit to launch new gummy supplements, hire new staff, and acquire promising market share across Malaysia and Southeast Asia.
- In December 2023, Vitals Brand (Thailand) Co., Ltd launched an e-commerce platform to provide a one-stop solution to consumers across the countries for shopping premium dietary supplements.
- In November 2023, Ajinomoto (Thailand) Co launched a new line of elderly supplements that aim to address the increasing demand for mobility and fitness supplements among the senior citizens of Thailand.
Middle East & Southeast Asia Dietary Supplements Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 17.04 Billion |
| Market Size by 2031 | US$ 30.72 Billion |
| Global CAGR (2023 - 2031) | 7.6% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Form
|
| Regions and Countries Covered | Middle East, Southeast Asia
|
| Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Competitive Landscape and Key Companies:
Haleon group of companies, Herbalife, Life-Space Group Pty Ltd, Swisse Wellness Pty Ltd, GNC, Meridlife, ALLNATURE, Blackmores, Bayer AG, and 21st Century Singapore are among the prominent players profiled in the Middle East & Southeast Asia dietary supplements market report. Constant initiatives taken by the market players to expand their businesses are further driving the market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
The List of Companies - Middle East & Southeast Asia Dietary Supplements Market
- Haleon group of companies
- Herbalife
- Life-Space Group Pty Ltd
- Swisse Wellness Pty Ltd
- GNC
- Meridlife
- ALLNATURE
- Blackmores
- Bayer AG
- 21st Century Singapore
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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