Research Nester released a report titled “Indonesia and Philippines Vitamins and Nutraceuticals Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the Indonesia and Philippines vitamins and nutraceuticals market in terms of market segmentation by product, by derivative, by application, by end users and by distribution channel.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Vitamins and nutraceuticals are nutrients required by the body in small quantities in order to ensure proper functioning and improved metabolism. The market in Indonesia is anticipated to grow at a CAGR of 6.06% during the forecast period, i.e., 2020-2027 and is predicted to reach a market value of USD 3,424.06 million by the end of 2027. The vitamins and nutraceuticals market in Philippines, on the other hand, observed a market value of USD 421.60 million in 2018 and is anticipated to observe a CAGR of 5.39% between 2020 and 2027. The market is segmented by product, by derivative, by application, by end users and by distribution channel. On the basis of product, the market is further segmented into functional food, functional beverages, dietary supplements, feed additives and personal care. The functional food beverage segment held the highest market share in both Indonesia as well as Philippines. This can be attributed to the micronutrients present in these beverages which help in improving the disorders associated with nutrient deficiency. The personal care segment is anticipated to grow at the highest rate over the forecast period on account of the anti-ageing and skin protecting properties of these products. On the basis of application, the market is segmented into general health & immune support, beauty, weight management, sports nutrition and others. The sports nutrition segment is estimated to witness substantial growth in the coming years on account of rising emphasis on sports and body fitness.
Rising GDP In Indonesia And Philippines To Account For The Market Growth
GDP or gross domestic product is the measure of the total amount spent on final goods and services in a country. The increasing GDP of Indonesia and Philippines indicates the increasing spending capacity of people on certain products and services. Moreover, the growing disposable income of people further is estimated to contribute towards the market growth. However, the strict government policies and regulations associated with the testing, manufacturing and approval of dietary supplements such as vitamins and nutraceuticals is estimated to hinder the market growth during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Indonesia and Philippines vitamins and nutraceuticals market which includes company profiling of Nestlé (SWX: NESN), Danone S.A. (EPA: BN), Bayer (ETR: BAYN), Indofood Sukses Makmur Tbk (IDX: INDF), Abbott Laboratories (NYSE: ABT), Mayora Indah Tbk PT (IDX: MYOR), DSM (AMS: DSM), Amway (KLSE: AMWAY), Yakult Honsha Co. Ltd. (TYO: 2267), NuSkin Enterprises (NYSE: NUS), Otsuka (TYO: 4578) and Pfizer Inc. (NYSE: PFE). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Indonesia and Philippines vitamins and nutraceuticals market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.