February 25, 2024
Indonesia Dietetary Supplements Market

Rising Health Consciousness Is Expected To Drive Growth In The Indonesia Dietetary Supplements Market

The Indonesia dietary supplements market comprises dietary supplements in both solid (capsules, tablets, softgels, and pills) and liquid forms (powders, gels, and liquids). Dietary supplements include vitamins, proteins, herbs, meal supplements, sports nutrition, and other related products. These supplements are intended to provide nutrients that may not be consumed in sufficient quantities through normal food intake. The increasing health consciousness and disposable income of consumers have driven the growth of this market.

The global Indonesia Dietary Supplements Market is estimated to be valued at US$ 2192.85 Mn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The shift towards preventive healthcare amid rising obesity and chronic disease rates is one of the key drivers for the Indonesia dietary supplements market. According to the WHO, roughly 3 million people in Indonesia die every year due to non-communicable diseases (NCDs) such as heart disease, stroke, cancer, diabetes, and chronic lung disease. The increased health consciousness among Indonesian consumers has prompted them to adopt dietary supplements to supplement their daily nutrient intake and manage existing medical conditions.

Moreover, the abundant availability of herbal formulations catering to indigenous medical practices is expected to boost market growth over the forecast period. For instance, Indonesian herbal formulas such as jamu have gained popularity for their purported health benefits. The changing consumer preferences towards organic, natural products are further expected to favor the demand for herbal dietary supplements.

Segment Analysis

The Indonesia dietary supplements market is dominated by the vitamins, minerals and supplements (VMS) sub-segment. This sub-segment holds more than 50% market share owing to the changing lifestyles of people in Indonesia which have resulted in lack of essential nutrients through regular diet. The increasing awareness about health and wellness and rising demand for preventive healthcare are further driving the growth of VMS sub-segment in the Indonesian market.

PEST Analysis

Political: The government of Indonesia is supporting the growth of dietary supplements industry through various favorable policies and regulations. It has made amendments in the law to support the safety, efficacy and quality of supplements.
Economic: The rising disposable incomes and improving living standards in Indonesia have increased the healthcare spending. This is driving the demand for dietary supplements as people are able to spend more on preventive healthcare and wellness products.
Social: Changing lifestyles and increasing health awareness among Indonesian population is influencing the growth. People are opting for supplements to meet their daily nutrient requirements due to irregular food habits and lack of nutrients through regular diet.
Technological: Companies operating in the market are investing in R&D to develop innovative products with latest delivery systems and formulations. Some key players are focusing on development of probiotic supplements and plant-based supplements.

Key Takeaways

The global Indonesia Dietary Supplements Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. The global Indonesia Dietary Supplements Market is estimated to be valued at US$ 2192.85 Mn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030.

Regional analysis

reveals that Java region holds the dominant market share currently due to the presence of key cities like Jakarta and Surabaya which are urban centers with high healthcare spending. The rising population, increasing per capita incomes and growing health awareness are supporting the growth of dietary supplements market in Java region.

Key players operating in the Indonesia dietary supplements market 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. Key players like Siemens Healthineers and GE Healthcare are focusing on developing advanced supplement formulations with the active ingredients for various applications such as weight management, digestive health, bone and joint health etc.

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