The dietary supplements market in Indonesia has witnessed significant growth in recent years owing to the rising health consciousness among the people of Indonesia. Dietary supplements include vitamins, herbal supplements, meal replacement products, sports nutrition products, and others that are consumed to improve overall health and wellbeing. These supplements provide crucial minerals and nutrients to support various bodily functions. The forms in which these supplements are available include tablets, capsules, powders, and liquids. Some key product categories in the Indonesian market include vitamins, minerals, herbal supplements, fatty acids, proteins, and other various plant and animal-derived extracts.
The global Indonesia Dietary Supplements Market is estimated to be valued at US$ 2192.85 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
This is a key driver pushing the demand for dietary supplements as people want to meet their daily nutrition requirements through supplements. The promotional activities by supplement companies have also raised consumer knowledge about the health benefits of supplements.
The rapid urbanization in Indonesia has introduced consumers to increasingly busy lifestyles which leave little time for proper nutrition. This has boosted the demand for dietary supplements that allow busy professionals and consumers to fulfill their nutritional needs easily. The hectic urban lifestyles coupled with long working hours have prompted the consumption of supplements as a healthy solution.
Segment Analysis
The Indonesia dietary supplements market is segmented into vitamin supplements, mineral supplements, botanical supplements, fatty acids, and protein and amino acid supplements. Among these, the vitamin supplements segment accounted for the largest share of around 38% of the total market in 2023. This is because of increasing awareness about the importance of vitamins in daily diet and its deficiency diseases. The botanical supplements segment is expected to witness the fastest growth over the forecast period owing to rising adoption of herbal supplements for health and wellness.
PEST Analysis
Political: The government of Indonesia has implemented several regulations for the manufacturing and marketing of dietary supplements. It has mandated Good Manufacturing Practices certification for supplements manufacturing. This ensures quality standards are met.
Economic: Rising disposable incomes and growing health awareness are driving higher consumer spending on wellness and nutrition products in Indonesia. The expanding middle class population is increasing the demand for dietary supplements.
Social: Younger population is more influenced by fitness trends on social media and seeks supplements and products offering beauty and wellness benefits. They are inclined towards herbal and plant-based supplements due to perceived natural attributes.
Technological: Dietary supplements manufacturers are investing in advanced technologies for product development. They are introducing custom blends and formulations designed for specific health conditions using latest extraction techniques for active ingredients.
Key Takeaways
The global Indonesia dietary supplements market is expected to witness high growth over the forecast period supported by increasing health consciousness among consumers. Vitamin supplements hold the major value share currently due to their wide adoption and role in addressing nutritional deficiencies. The global dietary supplements market in Indonesia is estimated to be valued at US$ 2192.85 Mn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030.
Regional analysis: The Java region dominates the Indonesia dietary supplements market currently accounting for over 40% value share in 2023. This is attributed to higher disposable incomes and more availability of supplements products in modern retail outlets across major cities in Java.
Key players: Key players operating in the Indonesia dietary supplements market are AbbVie Inc., Janssen Global Services, Johnson & Johnson, F. Hoffmann-La Roche Ltd, Amgen Inc., Pfizer Inc., Novartis, Astellas, Bristol-Myers Squibb Company, Merck Sharp & Dohme Corp., UCB SA, and Allergan plc. These companies have strong brand visibility and market reach in Indonesia.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it