by The Indonesia Dietary Supplements Market is estimated to be valued at US$ 1,890.50 Mn in 2021 and is expected to exhibit a CAGR of 7.7% over the forecast period 2021 to 2028, as highlighted in a new report published by Coherent Market Insights.
A) Market Overview:
The market for dietary supplements in Indonesia is experiencing significant growth due to the rising health consciousness among individuals and the increasing aging population. Dietary supplements are products that are taken orally and contain various nutrients such as vitamins, minerals, herbs, and botanicals. These supplements are intended to supplement the diet and help in maintaining overall health and wellness. They are available in various forms such as capsules, tablets, powders, and liquids.
B) Market Dynamics:
The market dynamics section of the report covers the two drivers responsible for the growth of the Indonesia dietary supplements market. Firstly, the increasing health consciousness among individuals is driving the demand for dietary supplements. People are becoming more aware of the importance of a balanced diet and are actively seeking ways to improve their overall health. This is leading to a rise in the consumption of dietary supplements as a convenient and effective way to supplement their nutrient intake.
Secondly, the growing aging population in Indonesia is fueling the demand for dietary supplements. With age, the body’s nutritional needs change, and the ability to absorb nutrients decreases. Elderly individuals often face deficiencies in essential vitamins and minerals, leading to health issues. Dietary supplements provide a convenient way for seniors to meet their nutritional requirements and support healthy aging.
C) Segment Analysis:
The segment analysis of the Indonesia dietary supplements market reveals that vitamins and minerals are dominating the market. Vitamins and minerals are essential nutrients that the body needs in small amounts to function properly. They play a crucial role in maintaining overall health and preventing various diseases. Due to their wide range of health benefits, vitamins and minerals are in high demand among consumers in Indonesia, making it the dominant segment.
D) PEST Analysis:
– Political: The political stability in Indonesia is favorable for the growth of the dietary supplements market. The government supports health and wellness initiatives and encourages the production and consumption of dietary supplements.
– Economic: The growing middle-class population and increasing disposable income in Indonesia are driving the demand for dietary supplements. Consumers are willing to spend on products that can improve their health and well-being.
– Social: The rising health consciousness among individuals and the awareness about the benefits of dietary supplements are major social factors contributing to market growth.
– Technological: Advancements in technology have led to the development of innovative and effective dietary supplements. The use of advanced manufacturing processes and formulation techniques has improved the quality and efficacy of these supplements.
E) Key Takeaways:
– The Indonesia Dietary Supplements Market Growth is expected to witness high growth, exhibiting a CAGR of 7.7% over the forecast period, due to increasing health consciousness among individuals and the growing aging population.
– The market size of dietary supplements in Indonesia is projected to reach US$ XXX Mn by 2028.
– The fastest-growing and dominating region in the Indonesia dietary supplements market is Java. This can be attributed to the high population density in the region and the presence of major cities where health and wellness trends are more prevalent.
– Key players operating in the Indonesia dietary supplements market include ADM, PT Darya-Varia Laboratoria Tbk, Citra Nusa Insan Cemerlang PT, Sido Muncul PT, The Tempo Group, Bayer AG, BASF SE, Pfizer Inc., Nature’s Sunshine Products, Inc., Amway, and Glanbia PLC.
The Indonesia dietary supplements market is experiencing significant growth due to factors such as increasing health consciousness and a growing aging population. The market is dominated by vitamins and minerals, and the region of Java is the fastest-growing and dominating region in the country. As more individuals prioritize their health and well-being, the demand for dietary supplements is expected to continue to rise in Indonesia.
