Indonesia Nutraceuticals Market By Application (Functional Beverages, Functional Food and Dietary Supplements), By Form (Liquid, Tablets, Capsules, Powder, and Others), By Source (Plant, Animal, and Microbial), By Distribution Channel (Specialty Stores, Online, Hypermarkets/ Supermarkets, Pharmacies), By Region, Competition Forecast & Opportunities, 2018-2028F
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationIndonesia Nutraceuticals Market By Application (Functional Beverages, Functional Food and Dietary Supplements), By Form (Liquid, Tablets, Capsules, Powder, and Others), By Source (Plant, Animal, and Microbial), By Distribution Channel (Specialty Stores, Online, Hypermarkets/ Supermarkets, Pharmacies), By Region, Competition Forecast & Opportunities, 2018-2028F
The Indonesia Nutraceuticals Market is anticipated to witness impressive growth during the forecast period. This can be ascribed to the growing awareness among Indonesian consumers about the importance of health and wellness. People are becoming more conscious of their dietary choices and are seeking products that can support their overall well-being. Digital platforms and social media have played a significant role in disseminating health information and promoting awareness about nutraceutical products. Influencers and online communities share information about the benefits of nutraceuticals, driving consumer interest and adoption.
Indonesia has experienced steady economic growth, resulting in an expansion of the middle class and an increase in disposable income levels. With higher purchasing power, consumers are willing to spend more on products that offer health benefits and enhance their quality of life. Indonesia has a large and rapidly aging population. With increasing life expectancy, there is a greater focus on healthy aging and maintaining vitality in the later years. Nutraceutical products that target age-related health concerns, such as joint health, cognitive function, and bone health, are sought after by the elderly population.
Indonesia has a rich tradition of traditional herbal medicine known as "jamu." This heritage has created a demand for nutraceutical products that incorporate traditional ingredients and formulations. Nutraceutical companies that leverage traditional knowledge and offer products rooted in Indonesian traditional medicine can tap into this market segment.
The value of the Indonesia Nutraceuticals Market in 2022 was USD 2.29 billion, and the market will probably expand at a CAGR of 7.5% from 2022 to 2028.
Increasing Demand for Beauty and Anti-Aging Nutraceuticals
The beauty and anti-aging market in Indonesia was valued at USD 1.2 billion in 2022, and the largest users of these nutraceuticals in Indonesia are women, who account for 70% of the market.
Inclination of Nutraceuticals Towards Herbal and Traditional Ingredients
Herbal and traditional ingredients play a significant role in the nutraceuticals market in Indonesia. Indonesian culture has a long history of utilizing herbal remedies for various health purposes, and these ingredients continue to be incorporated into nutraceutical products. Indonesian traditional medicine, known as "jamu," encompasses a wide range of herbal remedies and practices. Traditional knowledge regarding the use of herbs, spices, roots, and other plant-based ingredients has been passed down through generations and is still widely valued in Indonesia.
Indonesia is rich in biodiversity, offering a wide variety of indigenous plants and botanicals with potential health benefits. Examples include turmeric, ginger, temulawak (Javanese ginger), kencur (lesser galangal), daun katuk (sauropus androgynus leaves), and many more.
Nutraceutical products in Indonesia often incorporate traditional herbal formulations. These formulations combine multiple herbal ingredients in specific ratios to address specific health concerns or promote overall well-being. Traditional herbal preparations may be found at as powders, capsules, teas, extracts, or tonics.
Herbal and traditional ingredients are valued for their wellness and functional benefits. They are believed to possess antioxidant, anti-inflammatory, immune-boosting, and detoxifying properties. Different herbs and traditional ingredients are associated with specific health benefits, such as improving digestion, boosting energy, enhancing immunity, or promoting skin health.
Many traditional ingredients contain a complex mix of active compounds, including phytochemicals, flavonoids, alkaloids, and essential oils. These compounds often work synergistically to provide health benefits and are believed to have a holistic approach to wellness.
In recent years, there has been a growing trend of integrating traditional herbal ingredients with modern nutraceutical formulations. Manufacturers combine traditional knowledge with scientific research to create products that offer standardized dosages, quality control, and convenience while preserving the traditional wisdom.
The market value of herbal and traditional ingredients in nutraceuticals in Indonesia was USD 1.5 billion in 2022, and offline mode is their largest distribution channel, accounting for 80% of the market.
Indonesian consumers have a cultural affinity for herbal and traditional ingredients, as they are deeply ingrained in local traditions and beliefs. Many consumers trust the efficacy of these ingredients and prefer products that draw upon traditional knowledge. This will accelerate the speed of the Indonesia Nutraceuticals Market.
Rise in the Demand for Sports Nutrition
In 2022, the market value of sports nutrition in Indonesia was valued at USD 1 billion, with protein powder responsible for 60% of the market. The largest end user of sports nutrition in Indonesia is men, accounting for 70% of the market
Recent Developments
- In 2021, PT Sido Muncul, the largestherbal remedy and customer wellness company in Indonesia, welcomed AffinityEquity Partners ("Affinity"), a leading private equity investor inAsia, as an investor in the Company, formalizing Affinity's strategicpartnership with PT Inn Candi Baru.
- In 2022, PT Kalbe Farma Tbk or Kalbe,through its subsidiary KALGen Innolab, introduced Nutrigenme Life, the latestgenetic assessment that can analyze DNA variations associated with anindividual's lifestyle habits.
- In 2023, PT Sido Muncul has introducednew ready-to-drink (RTD) 300 ml bottles containing Vitamin C100 + D3 + Zinc.
Market Segmentation
Market Players
PT Industri Jamu Dan Farmasi Sido Muncul Tbk., PT Kalbe Farma Tbk, PT Tempo Scan Pacific Tbk, PT. Mayora Indah Tbk, PT Indofood Sukses Makmur Tbk, Pt Nature Sunshine Products Indonesia Tbk, PT. Amway Indonesia, PT Herbalife Indonesia are some of the market players in Indonesia Nutraceuticals Market.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Application Form Source Distribution Channel |
| Regional scope | Java, Sumantra, Kalimantan, Bali, Others |
| Key companies profiled | PT Industri Jamu Dan Farmasi Sido Muncul Tbk., PT Kalbe Farma Tbk, PT Tempo Scan Pacific Tbk, PT. Mayora Indah Tbk, PT Indofood Sukses Makmur Tbk, Pt Nature Sunshine Products Indonesia Tbk, PT. Amway Indonesia, PT Herbalife Indonesia |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy