Asia Pacific Nutritional Supplements Market Size, Share & Trends Analysis Report By Product (Functional Foods & Beverages, Sports Nutrition), By Consumer Group, By Formulation, By Sales Channel, And Segment Forecasts, 2022 - 2030

Asia Pacific Nutritional Supplements Market Size, Share & Trends Analysis Report By Product (Functional Foods & Beverages, Sports Nutrition), By Consumer Group, By Formulation, By Sales Channel, And Segment Forecasts, 2022 - 2030

Asia Pacific Nutritional Supplements Market Growth & Trends

The Asia Pacific nutritional supplements market size is expected to reach USD 240.6 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.1% from 2022 to 2030. The population across countries in the Asia Pacific region is gradually shifting towards a healthier lifestyle and the adoption of nutritional supplements as a part of healthy dietary habits to achieve health and fitness goals. The geriatric population in the Asia Pacific region has grown in the past few years, thus increasing the overall burden of chronic diseases. Unhealthy eating habits and increasingly sedentary lifestyles have given rise to a plethora of lifestyle diseases, which are quite prevalent in the Asia Pacific region. As the awareness regarding nutritional needs has been increasing among the population, nutritional supplementation to improve and maintain health has gained a lot of popularity.

The Asia Pacific region has been known for its traditional medicine and healing with the help of natural products. For centuries, these products have been used by the region’s population. In recent years, these traditional products have gained a lot of traction in the Asia Pacific region as well as in other countries. This rise in popularity has led to wider adoption of these products and has led to the nutritional supplements market growth. The increase in disposable incomes across the region has resulted in higher purchasing power. With the increasing awareness regarding nutritional supplements, the market has been growing and is capable of expanding at a substantial rate. COVID-19 has spurred this industry to a great extent and people across the globe have become more aware of the implications of a lack of good immunity. A report by FMCG Gurus states that more than 55% of the APAC population has become more conscious regarding immunity due to COVID-19.

Sports nutrition has piqued a lot of interest in people around the globe. More and more people are opting for sports supplements to achieve their fitness goals. Sports enthusiasts and professional athletes are increasingly promoting supplements through social networking sites and their uptake has risen in recent years, which is a key driving factor for the growth of the nutritional supplements market in Asia Pacific. According to Euromonitor, a Lifestyles survey 2021, more and more millennials have been participating in physical activities and health-related behaviors on a daily basis. The Asia Pacific has been recognized as one of the fastest-growing markets for wellness by Euromonitor and it is expected that the investments in products related to dietary supplements, healthy foods, beverages, and sports nutrition will increase over time, given the growth prospects in the Asia Pacific region.

The functional foods and beverages product segment held the largest revenue share in 2021. The segment mainly includes probiotics, omega-3, and other products. In recent years, the demand for probiotic drinks has skyrocketed in the region. During COVID-19, demand for vitamins, particularly vitamin C and probiotics increased drastically. China has been the largest consumer of probiotics in the APAC region. BC30 Probiotics states that 35% of the Asia Pacific market has been held by China. Japan launched probiotic products in the 1930s and is the largest market in the region. Sports nutrition is expected to emerge as a lucrative segment over the forecast period. The awareness among youth regarding a healthy lifestyle has been gaining momentum. The sports nutrition segment has seen massive growth owing to an increase in the number of fitness centers and the growing adoption of products related to fitness, weight loss, and muscle building.

The adult consumer group segment held the largest revenue share of over 25.0% in 2021. The adult population has been keen on adopting a healthy lifestyle, thus has been key to market growth. Chronic diseases like diabetes, hypertension, and cardiovascular diseases have been prevalent among the adult population due to inactive and sedentary lifestyles. Moreover, due to COVID-19, the approach toward leading a healthy lifestyle has changed drastically, leading to the growth of this segment. Children as a consumer group have been seen to grow at the fastest pace during the forecast period. The growing importance of health and fitness from an early age has been gaining traction, resulting in the growth of the market.

The powder formulation segment emerged as the largest segment in 2021. The products currently in the market are majorly in powder formulations owing to the large segment share. Powder formulations have been seen to be more efficient in delivering nutritional value since they are easily absorbable. This is the main factor fueling the growth of the segment. Capsule formulation is expected to emerge as a lucrative segment over the forecast period owing to the ease of consumption and multiple nutritional supplements in one dose.

The brick and mortar sales channel segment held the largest share of over 70.0% in 2021. The growing number of people supplementing their diets with nutritional supplements to complete their nutritional requirements has led to the overall growth of the market. The traditional method of sales is still more preferred. Preference for e-commerce platforms increased during COVID and e-commerce is projected to become the mainstream channel for distribution. Major players in the market are all collaborating with e-commerce platforms to make their products available to a wider population base and thus is a key factor promoting the growth of the market.

China, Japan, and India have been the major countries in the nutritional supplements market in the Asia Pacific region. China has become the largest exporter of nutritional supplements. The COVID-19 pandemic had given the market growth a spur due to an increase in demand for these products, worldwide. Countries like South Korea and Singapore have a large market potential for nutritional supplements. People in these countries are increasingly adopting healthy lifestyles and are more inclined toward using functional food supplements to enrich their diets and for completing their nutritional requirements, thus aiding the growth of the market.

The COVID-19 pandemic has been a key factor behind the growth of the nutritional supplements market in the Asia Pacific region. The demand for immunity-boosting supplements has seen a massive increase and has now become an integral part of daily diet supplementation across all age groups. A Health and Nutrition Survey conducted by Euromonitor from January to February 2020 revealed that a minimum of 40% survey population across China, India, Thailand, Indonesia, and South Korea agreed that vitamins are essential for nutrition and overall health.

Asia Pacific Nutritional Supplements Market Report Highlights

• The functional foods and beverages product segment held the largest revenue share of over 50.0% in 2021
• The adult consumer group held the largest revenue share in 2021 owing to the increased propensity for developing lifestyle diseases and an increase in awareness regarding the overall health
• The powder formulation segment emerged as the largest segment in 2021 owing to the growing market for sports nutrition
• The e-commerce sales channel segment is expected to witness the fastest growth in the forecast period due to its wider reach, the availability of a wider range of products, and discounted rates
• China, Japan, and India were named the largest markets, along with South Korea and Indonesia, which had the largest potential for growth owing to an increase in the demand for nutritional supplements