Thailand Nutraceuticals Market Outlook to 2021 - Rising Trust over Herbal Ingredients with Increasing use of Ginseng in Functional Foods to Foster Future Growth
LONDON, Oct. 23, 2017 /PRNewswire/ -- Executive Summary
The report titled "Thailand Nutraceuticals Market Outlook to 2021 - Elevating Consumption of Vitamin D and Calcium Supplements Among Geriatric Population to Drive Future" focuses on overall market size for Thailand nutraceuticals market, market segmentations on the bases of dietary supplements, functional food & beverages and distribution channels, dietary supplements sub-segmentation by type of supplements, functional foods and beverages sub-segmentation by product category. The report also covers Government regulations for nutritional and dietary supplements in Thailand, import and export scenarios of nutritional and dietary supplements in Thailand, trends & developments in the market and competitive landscape of major players in Thailand Nutraceuticals Market. The report concludes with market projection for future and analyst recommendation highlighting the major opportunities and cautions.
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Thailand Nutraceuticals Market Size
The market size of the nutraceuticals industry in Thailand has witnessed an increasing trend in the revenue growth during the period of six years (2011-2016) with growth reported at a CAGR of ~% during the period 2011-2016. Health and wellness trends in Thailand acted as major driver for the nutraceuticals market in the country. The market has witnessed an increase in beauty and weight management supplements sales. Kalow weight loss supplements and B5 dietary supplements are popular products for weight loss in Thailand.
By Dietary Supplements, and Functional Foods and Beverages
Dietary Supplements dominated the nutraceuticals market and contributed the revenue share of ~% in 2011 and ~% in 2016. Hectic lifestyle of urban Thai consumers coupled with dietary imbalances and insufficient exercises has increased the necessity to use dietary supplements among Thai population. People consume it as a preventive measure to lower the risks of chronic diseases and boost immune system to keep bodily organs functioning regularly. Another major problem of the country in form of aging population has resulted in high prevalence of various chronic diseases including cardiovascular diseases and hypertension, which in turn has resulted in prescription of various nutritional supplements. However, functional foods and beverages in Thailand have found major importance in form of maintaining weight or chronic diseases such as hypertension or diabetes.
By Distribution Channel
Mass merchandiser attributed ~% share in the distribution of nutraceuticals as strategy of the retailers principally accommodating only best selling products due to the limited selling spaces is followed by them. Moreover, mass merchandisers in Thailand are observed to sell nutraceuticals in cheaper prices compared to pharmacies or any other distribution channel. In Thailand, the nutritional supplements at pharmacies are very expensive. It was observed that extra ~ THB (USD ~) had to be paid at the pharmacies compared to the mass merchandiser. Other major distribution channels include convenience stores, door-to-door sales, pharmacies, and mail orders.
Dietary Supplements Segmentation by Type of Supplements
Vitamins and minerals dominated the Thailand Nutraceuticals market with revenue share of ~% in 2011 and ~% in 2016. Aging population coupled with low calcium intake in Thai population especially amongst the rural population has resulted in high prevalence of low Vitamin D and low bone mineral density levels in Thai population. Vitamin D deficiency resulted in extensive bone pains and occurrence of various orthopedic disorders like arthritis especially in women, which has consequently increased the demand for vitamin and minerals supplements amongst Thais.
Functional Foods and Beverages Market Segmentation by Food Category
Health segment dominated the functional food and beverages market with a revenue share worth ~% in Thailand functional foods and beverages market in year 2016. Lack of physical activity and high consumption of sugar has led to increase in prevalence of obesity and type 2 diabetes in Thailand. This has led to demand of more weight loss supplements and supplements used for managing diabetes over the years. Digestive and energy boosters segment captured second and third position respectively in functional foods and beverages market in Thailand in 2016.
Competitive Landscape
Cerebos is leading Thailand dietary supplements market majorly due to different variety of products it provides with 35 years of experience of the company. The company offers products under two segments for the supplements namely Brain to body wellness (Brands) and Skin and beauty wellness (Innershine and Veta). The trust factor associated with the company and the high demand for above mentioned products for enhancing immunity and for beautification is the major factor responsible for high share of the company. Amway, Scotch Industrial, Mega Lifesciences, and Blackmores are other major players operating in the market with revenue shares in decreasing order.
Future Outlook and Projections
Thailand Nutraceuticals market is expected to grow at a CAGR of ~% during the forecast period owing to high awareness and health and wellness trend in Thailand. The increased demand of beauty and weight loss supplements and sports nutrition is accentuated to boost the nutraceuticals market. Willingness to spend more on health supplements due to desire of looking younger and attractive coupled with health conscious society is also expected to impact the nutraceuticals market in a positive manner.
Key Topics Covered in the Report:
• Introduction to Thailand Nutraceuticals Market
• Thailand nutraceuticals market size, 2011-2016
• Thailand nutraceuticals market segmentation by Dietary Supplements, and Functional Foods & Beverages and Distribution channels
• Dietary Supplements segmentation by type of supplements
• Foods and Beverages Market Segmentation by Product Category
• Regulatory Landscape of Thailand
• Competitive Landscape of Major Players in Thailand Nutraceuticals Market
• Import & Export Scenario of Nutritional and Dietary Supplements in Thailand
• Major Trends and developments
• Analyst Recommendations
• Thailand Nutraceuticals Future Outlook and Projections, 2016-2021
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