May 29, 2024
Indonesia Dietetary Supplements Market

The Indonesia Dietary Supplements Market Propelled By Rising Consumer Awareness About Health And Wellness

Dietary supplements in Indonesia commonly come in the forms of capsules, tablets, powders, and softgels which deliver essential vitamins, minerals, and other nutrients. Indonesia has a growing middle class population fueled by economic growth which is increasing consumer spending on preventive healthcare and nutritional products. Dietary supplements are becoming an integral part of maintaining a healthy lifestyle as they supplement the nutrients that may not be sufficient through diet alone. The benefits of dietary supplements include enhanced immunity, better energy levels, improved heart health, anti-aging properties, and weight management. They help bridge the gap between dietary needs and actual nutrient intake, especially for the aging population.

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 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key Trends:

One of the major trends in the Indonesia dietary supplements market is the rising demand for customized nutritional supplements. With growing health awareness, consumers seek supplements tailored to their specific needs and priorities. This has led supplement companies to offer customized plans where individuals can choose ingredients based on their health goals, lifestyle, medical conditions, and lab test results. Another prominent trend is the increasing popularity of herbal supplements that are perceived as natural and devoid of any synthetic additives. Herbs like turmeric, ginger, ginkgo biloba etc. are commonly used ingredients for memory enhancement, immune support, weight management and overall wellness in Indonesia. Local herbal formulations are also gaining traction from consumers seeking traditional medicinal solutions.

Porter’s Analysis

Threat of new entrants: Low, as the Indonesian dietary supplements market is already dominated by some key players and requires high initial investments.

Bargaining power of buyers: Moderate, as buyers have several options to choose from various brands and private label products.

Bargaining power of suppliers: Low to moderate, as key raw materials suppliers operate at global level and have a significant impact on pricing.

Threat of new substitutes: Low, as dietary supplements have few alternatives that provide similar health benefits.

Competitive rivalry: High, as the market is growing and players compete based on product quality, innovation, and marketing.

Key Takeaways

The global Indonesia Dietary Supplements Market Growth is expected to witness high growth during the forecast period. 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 2024 to 2031.

The western region dominates the Indonesian dietary supplements market currently. However, eastern region is expected to witness fastest growth during the forecast period due to increasing health consciousness among consumers in this region. The Indonesia dietary supplements market is highly competitive with major focus on product variety and quality. Domestic players in Indonesia face tough competition from international brands. Shift towards herbal and organic products is seen as a key trend.

Key players

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. These players are focusing on new product launches and mergers & acquisitions to strengthen their market position.

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