June 16, 2024

Indonesia Dietary Supplements Market is Estimated to Witness High Growth Owing to Increasing Health Consciousness

These supplements provide additional nutrients needed to support normal body functioning and metabolism. The vitamins supplements segment is a key category, with vitamins A, C, D and B complex supplements being widely consumed. Herbal supplements comprising ginger, turmeric, gingko, garlic and saw palmetto are also gaining traction due to their therapeutic properties. Sports nutrition and weight management supplements cater to fitness enthusiasts seeking support for muscle growth, endurance and weight management goals. The growing health conscious population has been increasingly adopting dietary supplements for preventive healthcare and chronic disease risk reduction.

The Global Indonesia dietary supplements market is estimated to be valued at US$ 2526.17 Mn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the Indonesia dietary supplements are Siemens Healthineers, Nordion Inc., Lantheus Holdings Inc., Guerbet Group, GE Healthcare, Curium, Bracco Imaging SpA, Bayer AG, Cardinal Health Inc., and NTP Radioisotopes SOC Ltd. These companies have been investing in new product launches, expansions and partnerships to solidify their presence.

The Indonesia market provides opportunities for supplement manufacturers and global brands to tap into the demand from health-conscious consumers and ageing population. Increasing disposable income has also aided the market growth. Southeast Asian countries represent a high potential region for supplements manufacturers due to rising living standards and health awareness.

The increasing penetration of e-commerce and popularity of online shopping is supporting the growth of dietary supplement sales across global markets. Leading supplement producers are focusing on strengthening their digital presence and online marketing strategies to increase consumer outreach. The Indonesia market reflects high prospects for international brands seeking new markets for expansion in Southeast Asia.

Market Drivers
The increasing health consciousness among Indonesian population due to rising lifestyle diseases and pandemics has been a key market driver. The growing elderly population and their higher healthcare needs have also augmented the demand. Rising per capita healthcare expenditure on preventive healthcare measures such as supplements indicates future market opportunities. New product launches fortified with immunity boosting ingredients have witnessed high traction during the pandemic, reflecting the increased focus of consumers on immunity and preventive health.

PEST Analysis
Political: The Indonesia Dietary Supplements Market Size  in Indonesia is regulated by National Agency of Drug and Food Control of Indonesia. The agency oversees the registration, regulation, quality control and surveillance of dietary supplements. Strict quality and safety regulations help eliminate unsafe or low-quality products from the market.
Economic: Rising disposable incomes and middle-class population are primary drivers for the Indonesian dietary supplements market. Higher economic growth has increased spending on preventive healthcare and wellness products. Working professionals also favor dietary supplements to maintain health and energy levels.
Social: Increasing health awareness and desire to lead active lifestyles are encouraging Indonesians to consume dietary supplements. Social media promotion of health and fitness is positively impacting supplement consumption. Growing concerns over obesity and non-communicable diseases has created demand for weight management supplements as well.
Technological: Adoption of online retailing has made dietary supplements more accessible to consumers across Indonesia. E-commerce platforms offer a diverse range of products along with product information, reviews and price comparisons. Manufacturers are utilizing advanced production technologies to develop premium quality supplements.

The Indonesian islands of Java and Bali account for over 60% of the country’s dietary supplements market in terms of value sales. The densely populated regions have sizable health-conscious urban population with higher disposability incomes. East Java province alone contributes almost 20% to the national market due to its large population base.
North Sumatra province is projected to see the fastest market growth during the forecast period attributed to rapid economic development. Expansion of healthcare facilities and rising health expenditure per capita will support demand for dietary aids and preventive supplements. The port city of Medan is emerging as a lucrative commercial center in the province.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it