Asia Pacific Nutraceuticals Market Forecast to 2031 - Regional Analysis - by Type and Distribution Channel

The Asia Pacific nutraceuticals market was valued at US$ 156.24 billion in 2023 and is expected to reach US$ 293.09 billion by 2031; it is estimated to register a CAGR of 8.2% from 2023 to 2031.

Innovations and Strategic Developments by Market Players Fuel Asia Pacific Nutraceuticals Market

The nutraceuticals market across the globe is growing with significant investments by manufacturers in research & development, partnerships, and collaborations to launch innovative products to tap into unexplored market segments. For instance, in March 2024, a dairy giant in Japan launched a milk beverage called “Meiji Eye and Sleep W Support,” containing 7.5 mg of a functional ingredient - crocetin, which is a carotenoid derived from gardenia fruit and saffron. Owing to its small molecular weight, the drink can be easily absorbed into the body. Also, in 2024, the Indian conglomerate Essel Group, owner of Zee TV, is actively establishing its new direct-selling business with the launch of its first nutraceutical product aimed at blood sugar control. Also, in 2024, MiracleMe, a nutritional products company, launched plant-based nutrition products that dissolve orally. The company aims to tackle the global challenge of micronutrient deficiencies, which affect over 200 million people. Thus, the increasing product innovation by key market players worldwide is driving the market growth.

Various nutraceutical manufacturers engage in collaborations to expand their customer base. In 2024, Marubeni Corporation acquired additional shares in AIG Asia Ingredients Corporation through its subsidiary, Marubeni Growth Capital Asia Pte. Ltd. This investment, following a previous one in October 2023, aims to enhance their strategic partnership. AIG is a key supplier and manufacturer of food ingredients in Vietnam, which has the fastest-growing food market in Southeast Asia, growing at about 8% annually. The company offers essential food and functional ingredient solutions for the branded packaged food and beverage sectors. Thus, the strategic development initiatives and continuous innovations by key market players propelling the nutraceuticals market across the globe.

Asia Pacific Nutraceuticals Market Overview

The increasing disposable income, a rising population, and improving living standards are the prominent factors bolstering the nutraceuticals market growth in Asia Pacific. Rapid urbanization and changing lifestyles are increasing the prevalence of chronic diseases. People are choosing functional ingredients to overcome deficiencies and fulfill their nutritional requirements. In August 2022, FrieslandCampina Ingredients introduced its Biotis GOS-OP High Purity in Asia Pacific countries, catering to the growing demand for effective and convenient gut health solutions. The company emphasizes on its findings that 61% of the region's consumers experience digestive issues every week. Further, there is growing interest in sports and physical activity to achieve fitness goals, which has been a significant enabler of the nutraceuticals market growth in Asia Pacific. Fitness enthusiasts and professional athletes require sports nutrition products, including protein powder and nutrition supplements, to improve their recovery and performance for games. Moreover, urbanization and busy lifestyles compel people to engage in active lifestyles to maintain healthy living. Various key companies are primarily focusing on launching and expanding their nutritional product portfolio to strengthen their position in the Asia Pacific nutraceuticals market . In June 2023, Steadfast Nutrition expanded its product portfolio by launching four new supplements to enhance athletic performance and increase muscle strength.

Asia Pacific Nutraceuticals Market Revenue and Forecast to 2031 (US$ Million)

Asia Pacific Nutraceuticals Market Segmentation

The Asia Pacific nutraceuticals market is categorized into type, distribution channel, and country.

Based on type, the Asia Pacific nutraceuticals market is segmented into gr functional foods, functional beverages, and dietary supplements. The functional foods segment held the largest market share in 2023. The dietary supplements segment is further sub segmented into general wellness, sports nutrition, weight management, immune health, and others.

In terms of distribution channel, the Asia Pacific nutraceuticals market is segmented into supermarkets and hypermarkets, specialty stores, online retail, convenience stores, and others. The supermarkets and hypermarkets segment held the largest market share in 2023.

By country, the Asia Pacific nutraceuticals market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific nutraceuticals market share in 2023.

Glanbia Plc, NOW Health Group Inc, Amway Corp, Nature's Bounty, Garden of Life LLC, Danone SA, GNC Holdings LLC, Quest Nutrition LLC, Kellanova, and Chobani LLC are among the leading companies operating in the Asia Pacific nutraceuticals market.

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