The Asia-Pacific Wellness Supplements Market was worth USD 29.31 billion in 2016 and estimated to be growing at a CAGR of 7.5%, to reach USD 42.08 billion by 2021.
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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.
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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.
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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
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.
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. Based on geography, the Asia-Pacific market is divided into India, China, Australia, South Korea and Japan.
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.
The major market players in the 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.), and Nu Skin Enterprises, Inc.
(U.S.). Other players in the market include Grupo Omnilife (Mexico), Forever Living (U.S.), Pola, Inc. (Japan), Shaklee Corporation (U.S.), and Usana Health Sciences Inc.
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