Asia Pacific Nutritional Supplements Market is driven by Growing Importance of Health and Fitness from an Early Age

Posted on 2023-01-03 by researchinsights in Healthcare, Industrial, Pharmaceuticals, Technology // 0 Comments

San Francisco, Calif., USA, Jan 03, 2023 — /EPR Network/ —

Asia Pacific Nutritional Supplements Industry Overview

The Asia Pacific nutritional supplements market size was valued at USD 140.4 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2030. The Asia Pacific region has been one of the forerunners in the nutritional supplements market. The population across the sub-continent has been increasingly leaning towards leading a healthier life by the adoption of more traditional means and methods, using naturally sourced foods, supplementation, and dietary additives. The geriatric population has reached an all-time high in countries like Japan and China. Improving the quality of life through nutritional supplementation and functional foods has become a priority, driving the market in the APAC region.

The growing awareness among people regarding the benefits of nutritional supplementation and ease of availability in the region are key factors driving the market. The rise in per capita disposable income in the region’s countries has resulted in increased spending on dietary supplements. As per the National Bureau of Statistics of China, there has been an increase of $1100 in per capita disposable income in a span of 4 years (2008-2012). Consumers in the region are becoming increasingly conscious about their diets, propelling the growth of the nutritional supplements market.

Gather more insights about the market drivers, restraints, and growth of the Asia Pacific Nutritional Supplements market

The Asia Pacific region is known for its prowess in traditional medicine and the population has now started preferring naturally sourced products, functional foods, and enriched foods. According to Euromonitor, Asia Pacific accounted for 57% of the total global revenue for traditional/herbal dietary supplements in 2018. The shift towards a comprehensive approach to health and well-being has had a lasting impact on the nutritional supplements market, especially those derived from natural sources. Nutritional supplements have now become a daily household item across the region.

Growing inclination toward sports and physical activity as a means to achieve fitness goals has also been a key factor in the growth of the supplements market. Fitness enthusiasts and professional athletes regularly consume fitness supplements, like protein powders, and energy-boosting supplements, which, in turn, has contributed to the market growth. According to a report published by the Global Wellness Institute states, the APAC’s physical activity market represents more than 30% of the global market.

The increase in the prevalence of chronic diseases due to the rapid rate of urbanization and changing lifestyles has contributed significantly to the growth of the market. People, to avoid getting diseases associated due to a lack of physical activity, are increasingly opting for nutritional supplementation to overcome any deficiencies and complete their nutritional requirements. The low cost of raw materials and the popularity of naturally sourced products have also been contributing significantly to the growth of the market.

COVID has negatively impacted the growth of the nutritional supplements market in the Asia Pacific region. The majority of the revenue for this region is through exports and due to global lockdowns, the supply chain was disrupted, which affected the growth of the market negatively. The demand for nutritional supplementation grew multi-fold, which presented an opportunity for local vendors to flourish in the regional market. Immunity boosting supplements were the highly demanded category across the region. According to a report by FMCG Gurus, more than 55% of people in the Asia Pacific region have been more conscious about boosting their immunity during COVID.

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Nutritional Supplements Market – The global nutritional supplements market size is expected to reach USD 358.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030.

Sports Nutrition Market – The global sports nutrition market size was valued at USD 42.9 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.4% from 2023 to 2030.

Asia Pacific Nutritional Supplements Industry Segmentation

Grand View Research has segmented the Asia Pacific nutritional supplements market on the basis of product, consumer group, formulation, sales channel, and country:

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