Indonesia Nutraceutical Market is Expected to Reach USD 11.4 Billion in Terms of Revenues by the Year Ending 2023: Ken Research
- Disposable income of Indonesians has registered 5 year CAGR of 4.1% during 2013-2018. This is expected to raise the health consciousness and hence boost the demand for nutraceuticals in Indonesia
- Increasing consumer shift towards healthy drinks is expected to augment the sales of functional beverages
GURUGRAM, India, April 17, 2019 /PRNewswire/ -- Growing demand for Herbal Dietary Supplements: One of the key factors that would shape the nutraceuticals market within Indonesia is the consumers' trend towards natural and organic ingredients based dietary supplements. There is a shift in the preference of consumers towards herbal supplements despite of their premium price since they have no or less side effects as compared to the standard dietary supplements.
Rise in Aging Population: There is an increase in the aging of the population of Indonesia with those above 45 years or above reported at 12.5 million in 2013 which witnessed an increase to 14.5 million in the year 2018. There is large aged population group in Indonesia who have high rate of disease conditions related to dietary and working habits. Cardio vascular diseases, Obesity, and Hypertension are among the most common disease. The aged population raises a huge demand for Vitamins and Dietary Supplements and therefore driving demand for nutraceuticals in Indonesia.
Internet Retailing Emerges as New Channel for Distribution: There is increasing number of households with both working parents leading a fast paced life style which will motivate families to shop online instead of via store-based retailers. Internet retailing has started to gain popularity among Indonesians for purchasing Functional foods. This paves way for the growth of nutraceuticals market in Indonesia by making the accessibility of nutraceuticals for Indonesians. Online pharmacies are also acting as major driver in the market by offering Vitamins and dietary supplements at discount.
Analysts at Ken Research in their latest publication "Indonesia Nutritional Supplements Market Outlook to 2023 - by Vitamins (Single Vitamin and Multi-Vitamin) & Herbal and Standard Dietary Supplements (General Health, Beauty, Digestive, Bone, Heart Health, Memory, Joint), Functional Beverages and Functional Foods" observed that nutraceuticals market in Indonesia is in its late growth stage and it can be further expanded through market promotions, spreading awareness about functional foods in respect with chronic diseases, collaboration with doctors and promoting SMEs in manufacturing functional food and beverages. The market is expected to register a positive CAGR of 6.9% in terms of revenue during the forecast period 2018-2023.
Key Segments Covered
- Functional Foods:
- By type of functional foods (Baby Food, Dairy, Cooking Oil, Biscuits, Snack Bars and Fruit Snacks, Gums, Medicated and Chocolate Confectionery and Breakfast Cereals)
- By Type of Dairy Products (Flavored Milk Drinks, Powder Milk, Dairy Based Yoghurt, Milk, Margarine & Spreads and Cheese)
- By channel of distribution (Hypermarkets, Supermarkets, Independent Small Grocers, Non- Grocery specialists and Direct Selling)
- Functional Beverages:
- By Product Category (Soft Drinks and Hot Drinks)
- By channel of distribution (Hypermarkets & Supermarkets, Independent Small Grocers, Convenience Stores and Other Grocery Retailers.
- Vitamins and Dietary Supplements:
- By type (Vitamins, Dietary Supplements, Pediatric Vitamins and Dietary Supplements and Tonics)
- By nature (standard and herbal/traditional vitamins & dietary supplements)
- By Age Group (Infants, Teenage, Adult, Seniors)
- By type of vitamins (single vitamins and multivitamins)
- By Type of Dietary Supplements (Standard/Non-Herbal and Herbal/Traditional)
- By Positioning of Dietary Supplements (General Health and Others, Beauty, Digestive, Bone, Heart Health, Memory Health and Joint)
- By Type of Distribution Channel (Chemists/Pharmacies, Direct Selling & Internet Retailing, Drugstores/Parapharmacies, Hypermarkets, Supermarkets, and Independent Small Grocers)
Key Target Audience
- Nutraceuticals Manufacturers
- Nutraceuticals Distributors
- Government Agencies
- Vitamins and Dietary Supplements Companies
- Functional Foods Companies
- Functional Beverages Companies
- Hypermarkets and Supermarkets
- Drug Stores and Pharmacies
- Online Sales and Retailing Agencies
Time Period Captured in the Report:
- Historical Period: 2013- 2018
- Forecast Period: 2018- 2023E
Companies Covered:
- Functional Foods:
- Danone Group
- Nestle SA
- Royal FrieslandCampina NV
- Indofood Sukses Makmur Tbk PT
- Morinaga Milk Industry Co Ltd
- Ultrajaya Milk Industry & Trading Co Tbk PT
- Functional Beverages:
- Otsuka Holdings Co Ltd
- Nestle SA
- TC Pharmaceutical Industry Co Ltd
- Mayora Indah Tbk PT
- Danone Groupe
- Royal FrieslandCampina NV
- Vitamins and Dietary Supplements:
- Bayer AG
- Kalbe Farma Tbk PT
- Tempo Scan Pacific Tbk PT
- Sido Muncul PT
- Soho Industri Pharmasi PT
- Darya-Varia Group
- Citra Nusa Insan Cemerlang PT
- K-Link International Sdn Bhd
For more information on the research report, refer to below link:
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SOURCE Ken Research
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