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.
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. 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
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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.
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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. (U.S.).
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