The APAC dietary supplements market is expected to grow from US$ 91,191.59 million in 2021 to US$ 1,40,493.28 million by 2028; it is estimated to grow at a CAGR of 6.4% from 2021 to 2028.
The vegan population in has reported a constant increase over the past few years. Preventing the exploitation of animals and the environment is why consumers have begun to prefer veganism, increasing the demand for plant-based dietary supplements in the market. The market for plant protein components is rapidly expanding as consumers are shifting away from animal proteins. This is likely to change customers’ preferences toward plant-based herbal supplements and botanicals, offering even more potential for the growth of herbal supplements in the dietary supplements sector. Further, consumer preferences are shifting toward botanical extracts due to their increasing desire for clean-label products, rising concerns about sustainability, and an urgent need to avoid allergens. The demographic for these herbal supplements is transitioning from vegans to flexitarians, indicating changes in customer inclinations. Highly concerned about animal cruelty and environmental sustainability, consumers are encouraged to switch to plant-based diets. The changing consumer perception that plant-based products are safer and healthier than animal-derived products is driving the demand for plant-based dietary supplements. The growing trend of veganism is driving manufacturers to launch new products. The preference for plant-based herbal supplements is giving rise to several key trends that are expected to influence the growth of the APAC dietary supplements market in the coming years.
In case of COVID-19, APAC is highly affected specially India. The COVID-19 pandemic is anticipated to cause a significant economic loss in APAC. The emergence of new COVID-19 waves in India and other Asian economies has prolonged the effect of pandemics upon GDP. The ongoing COVID-19 pandemic is anticipated to cause huge disruptions in the growth of various industries of APAC. However, the dietary supplements market is expected to witness an increase in the dietary supplements market as these supplements are beneficial in boosting the immune system. In addition, investment by existing players along with penetration of new players to tap the prevailing opportunities as well as cater to soaring demand for natural, healthy, clean-label products in post-pandemic times.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC dietary supplements market. The APAC dietary supplements market is expected to grow at a good CAGR during the forecast period.
APAC Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
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APAC Dietary Supplements Market Segmentation
APAC Dietary Supplements Market – By Type
- Vitamins
- Minerals
- Proteins and Amino Acids
- Probiotics
- Blends
- Others
APAC Dietary Supplements Market – By Form
- Tablets
- Capsules and Softgels
- Powders
- Others
APAC Dietary Supplements Market – By Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Retail
- Others
APAC Dietary Supplements Market, by Country
- China
- Japan
- India
- South Korea
- Australia
- Rest of APAC
APAC Dietary Supplements Market - Companies Mentioned
- Abbott
- Amway Corp.
- Bayer AG
- Bionova
- GlaxoSmithKline plc.
- Otsuka Holdings Co., Ltd
- Pfizer Inc.
- The Bountiful Company
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.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
4. APAC Dietary Supplements Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Expert Opinion
5. APAC Dietary Supplements Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Escalating Awareness and Popularity of Dietary Supplements
5.1.2 Surging Healthcare Expenditure
5.2 Market Restraints
5.2.1 Presence of Counterfeit Products
5.3 Market Opportunities
5.3.1 Surging Product Innovation
5.4 Future Trends
5.4.1 Preference for Plant-Based Dietary Supplements
5.5 Impact Analysis of Drivers and Restraints
6. Dietary Supplements Market – APAC Analysis
6.1 APAC Dietary Supplements Market Overview
6.2 APAC Dietary Supplements Market – Revenue and Forecast to 2028 (US$ Million)
7. APAC Dietary Supplements Market Analysis – By Type
7.1 Overview
7.2 APAC Dietary Supplements Market, by Type (2020 & 2028)
7.3 Vitamins
7.3.1 Overview
7.3.2 Vitamins: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
7.4 Minerals
7.4.1 Overview
7.4.2 Minerals: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
7.5 Proteins and Amino Acids
7.5.1 Overview
7.5.2 Proteins and Amino Acids: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
7.6 Probiotics
7.6.1 Overview
7.6.2 Probiotics: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
7.7 Blends
7.7.1 Overview
7.7.2 Blends: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
7.8 Others
7.8.1 Overview
7.8.2 Others: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
8. APAC Dietary Supplements Market Analysis - By Form
8.1 Overview
8.2 APAC Dietary Supplements Market, by Form (2020 & 2028)
8.3 Tablets
8.3.1 Overview
8.3.2 Tablets: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
8.4 Capsules and Softgels
8.4.1 Overview
8.4.2 Capsules and Softgels: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
8.5 Powders
8.5.1 Overview
8.5.2 Powders: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
9. APAC Dietary Supplements Market Analysis - By Distribution Channel
9.1 Overview
9.2 APAC Dietary Supplements Market, by Distribution Channel (2020 & 2028)
9.3 Supermarkets and Hypermarkets
9.3.1 Overview
9.3.2 Supermarkets and Hypermarkets: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
9.4 Specialty Stores
9.4.1 Overview
9.4.2 Specialty Stores: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
9.5 Online Retail
9.5.1 Overview
9.5.2 Online Retail: Dietary Supplements Market Revenue and forecast to 2028 (US$ million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
10. APAC Dietary Supplements Market– Country Analysis
10.1 Overview
10.1.1 APAC: Dietary Supplements Market, by Key Country
10.1.1.1 China: Dietary Supplements Market –Analysis and Forecast to 2028 (US$ Million)
10.1.1.1.1 China: Dietary Supplements Market, by Type
10.1.1.1.2 China: Dietary Supplements Market, by Form
10.1.1.1.3 China: Dietary Supplements Market, by Distribution Channel
10.1.1.2 Japan: Dietary Supplements Market –Analysis and Forecast to 2028 (US$ Million)
10.1.1.2.1 Japan: Dietary Supplements Market, by Type
10.1.1.2.2 Japan: Dietary Supplements Market, by Form
10.1.1.2.3 Japan: Dietary Supplements Market, by Distribution Channel
10.1.1.3 India: Dietary Supplements Market –Analysis and Forecast to 2028 (US$ Million)
10.1.1.3.1 India: Dietary Supplements Market, by Type
10.1.1.3.2 India: Dietary Supplements Market, by Form
10.1.1.3.3 India: Dietary Supplements Market, by Distribution Channel
10.1.1.4 South Korea: Dietary Supplements Market –Analysis and Forecast to 2028 (US$ Million)
10.1.1.4.1 South Korea: Dietary Supplements Market, by Type
10.1.1.4.2 South Korea: Dietary Supplements Market, by Form
10.1.1.4.3 South Korea: Dietary Supplements Market, by Distribution Channel
10.1.1.5 Australia: Dietary Supplements Market –Analysis and Forecast to 2028 (US$ Million)
10.1.1.5.1 Australia: Dietary Supplements Market, by Type
10.1.1.5.2 Australia: Dietary Supplements Market, by Form
10.1.1.5.3 Australia: Dietary Supplements Market, by Distribution Channel
10.1.1.6 Rest of APAC: Dietary Supplements Market –Analysis and Forecast to 2028 (US$ Million)
10.1.1.6.1 Rest of APAC: Dietary Supplements Market, by Type
10.1.1.6.2 Rest of APAC: Dietary Supplements Market, by Form
10.1.1.6.3 Rest of APAC: Dietary Supplements Market, by Distribution Channel
11. Impact of COVID-19 Pandemic on APAC Dietary Supplements Market
11.1 APAC: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Product Launch
12.3 Joint Venture
12.4 Mergers & Acquisition
12.5 Partnership
13. Company Profiles
13.1 Abbott
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Amway Corp.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Bayer AG
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Bionova
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Pfizer Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Otsuka Holdings Co., Ltd
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 GlaxoSmithKline plc.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 The Bountiful Company
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. APAC Dietary Supplements Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. China Dietary Supplements Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. China Dietary Supplements Market, by Form– Revenue and Forecast to 2028 (US$ Million)
Table 4. China Dietary Supplements Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 5. Japan Dietary Supplements Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Japan Dietary Supplements Market, by Form– Revenue and Forecast to 2028 (US$ Million)
Table 7. Japan Dietary Supplements Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 8. India Dietary Supplements Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. India Dietary Supplements Market, by Form– Revenue and Forecast to 2028 (US$ Million)
Table 10. India Dietary Supplements Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 11. South Korea Dietary Supplements Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. South Korea Dietary Supplements Market, by Form– Revenue and Forecast to 2028 (US$ Million)
Table 13. South Korea Dietary Supplements Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 14. Australia Dietary Supplements Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 15. Australia Dietary Supplements Market, by Form– Revenue and Forecast to 2028 (US$ Million)
Table 16. Australia Dietary Supplements Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 17. Rest of APAC Dietary Supplements Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of APAC Dietary Supplements Market, by Form– Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of APAC Dietary Supplements Market, by Distribution Channel– Revenue and Forecast to 2028 (US$ Million)
Table 20. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Dietary Supplements Market Segmentation
Figure 2. APAC Dietary Supplements Market Segmentation – By Country
Figure 3. APAC Dietary Supplements Market Overview
Figure 4. APAC Dietary Supplements Market, By Type
Figure 5. APAC Dietary Supplements Market, By Country
Figure 6. APAC: PEST Analysis
Figure 7. Expert Opinion
Figure 8. APAC Dietary Supplements Market Impact Analysis of Drivers and Restraints
Figure 9. APAC: Dietary Supplements Market – Revenue and Forecast to 2028 (US$ Million)
Figure 10. APAC Dietary Supplements Market, by Type (2020 & 2028)
Figure 11. APAC Vitamins: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 12. APAC Minerals: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. APAC Proteins and Amino Acids: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. APAC Probiotics: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC Blends: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. APAC Others: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. APAC Dietary Supplements Market, by Distribution Channel (2020 & 2028)
Figure 18. APAC Tablets: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. APAC Capsules and Softgels: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. APAC Powders: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. APAC Others: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. APAC Dietary Supplements Market, by Distribution Channel (2020 & 2028)
Figure 23. APAC Supermarkets and Hypermarkets: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. APAC Specialty Stores: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. APAC Online Retail: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. APAC Others: Dietary Supplements Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. APAC: Dietary Supplements Market, by Key Country – Revenue (2020) (US$ Million)
Figure 28. APAC: Dietary Supplements Market Revenue Share, by Key Country (2020 and 2028)
Figure 29. China: Dietary Supplements Market –Revenue and Forecast to 2028 (US$ Million)
Figure 30. Japan: Dietary Supplements Market –Revenue and Forecast to 2028 (US$ Million)
Figure 31. India: Dietary Supplements Market –Revenue and Forecast to 2028 (US$ Million)
Figure 32. South Korea: Dietary Supplements Market –Revenue and Forecast to 2028 (US$ Million)
Figure 33. Australia: Dietary Supplements Market –Revenue and Forecast to 2028 (US$ Million)
Figure 34. Rest of APAC: Dietary Supplements Market –Revenue and Forecast to 2028 (US$ Million)
Figure 35. Impact of COVID-19 Pandemic in APAC
- Abbott
- Amway Corp.
- Bayer AG
- Bionova
- GlaxoSmithKline plc.
- Otsuka Holdings Co., Ltd
- Pfizer Inc.
- The Bountiful Company
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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