Asia Pacific Wellness Supplements Market

Asia Pacific Wellness Supplements Market Growth and Forecast (2023 - 2028):

Asia Pacific Wellness Supplements Market was worth USD 33.21 billion in 2022 and estimated to be growing at a CAGR of 7.5%, to reach USD 47.68 billion by 2028.

Market Overview:

According to the FDA, wellness supplements are defined as products which are not considered under pharmaceutical drugs, food additives or conventional food and which is intended to supplement a person’s diet. They should not be used for the treatment of any disease or its prevention with the exception being vitamins that can be administered in appropriate quantities by trained medical personnel.

Dietary supplements come in various forms and may contain different nutrients such as vitamins, dietary minerals, amino acids, proteins and essential fatty acids. Bodybuilding supplements are a special category under wellness supplements commonly used by athletes. They may be used to replace meals, enhance weight gain or improve athletic performance. Over-consumption of any of the above-mentioned categories of supplements may have adverse effects on the body

Drivers and Restraints:

The rise of the wellness supplements market in the Asia-Pacific region is driven by the increasing population, more specifically the geriatric population. As technological advances bring down the mortality rates, the aging population increase and they are in need of additional supplements for their diet. Another reason is the rising consumer awareness which brings people towards health supplements. As for the restraints of the market, most wellness supplements are in a price bracket that is mostly inaccessible for the common man. Along with the strict regulations put in place by the government regarding production of supplements, the market takes a few major hits on its growth rate.

Asia Pacific Wellness Supplements Market Segmentation Analysis:

The Asia Pacific Wellness Supplements market is broadly classified based on products into Dietary Supplements such as Vitamin, Mineral, Protein and Herbal, Fortified Food & Beverages such as Omega Fatty Acid, Probiotic Food, Branded Iodinated Salt, Branded Wheat Flour, Energy Drinks, Sports Drinks and Fortified Juices, Food Intolerance Products such as Gluten-free, Lactose-free and Diabetic food and Dermo-Cosmetic Skin Essentials such as Anti-Aging, Anti-Cellulite and Anti-Acne Supplements.

Geographical Analysis:

Geographically the Asia Pacific Wellness Supplements Market is segmented into India, Japan, China, Australia, Singapore, Malaysia, South Korea, New Zealand, and Southeast Asia. The Asia-Pacific region is the fastest growing global market for wellness supplements with a CAGR of 7.5% which is well above the global average. It also has the 3rd largest market share currently and the high growth rate is expected to make it the largest market in the coming years.

Key Players in the Market:

Major Key Players in the APAC Wellness Supplements Market are

• Nestle S.A. (Switzerland)
• Abbott Laboratories (U.S.)
• Amway (U.S.)
• Otsuka Holdings Co., Ltd. (Japan)
• Herbalife Ltd. (U.S.)
• Archer Daniels Midland Company (U.S.)
• Glanbia plc (Ireland)
• NBTY, Inc. (U.S.)
• GNC Holdings Inc. (U.S.)
• Nu Skin Enterprises, Inc. (U.S.)
• Grupo Omnilife (Mexico)
• Forever Living (U.S.)
• Pola, Inc. (Japan)
• Shaklee Corporation (U.S.)
• Usana Health Sciences Inc. (U.S.)