Overview of the health supplement market in Malaysia
Technavio’s research analyst predicts the health supplement market in Malaysia to grow at a CAGR of 7% during the forecast period. The rise in the aging population in Malaysia is the key driver for the market growth of this region. Products that prevent age-related disorders, such as those linked to the digestive system, and ones that help maintain blood sugar levels, are in high demand among this age group.
The growing demand for probiotic products is also expected to contribute to the market growth in Malaysia. These products are primarily used as a substitute for growth promoters and antibiotics across the globe. For instance, companies such as Yakult Honsha and Chr. Hansen, have developed patented strains of microorganisms (probiotics) claiming to have particular health advantages.
Segmentation by product and analysis of the health supplement market in Malaysia
Vitamins and dietary supplements
Weight management products
Herbal and traditional products
The vitamins and dietary supplements segment led the market with a market share of around 49% during 2014 and is expected to lead the market until the end of 2019. The rise in the aging population and the awareness of benefits from these supplements are the key drivers for the growth of this segment.
Competitive landscape and key vendors
The health supplement market in Malaysia is diversified by the presence of international and regional vendors, competing on the basis of quality and pricing, and market reach and financial resources. The report predicts the competitive environment to intensify further during the forecast period due to product/service extensions, product innovations, and mergers. International players are anticipated to grow inorganically by acquiring regional or local players.
The leading vendors in the market are -
Other prominent vendors in the market include Astana Biocare, Bioalpha, Dynapham Herbal, Era Herbal, QD Herbs, and White Heron Pharmaceuticals.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the health supplement market in Malaysia?
What are the key market trends impacting the growth of the health supplement market in Malaysia?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the health supplement market in Malaysia?
What are the key outcomes of the five forces analysis of the health supplement market in Malaysia?
Technavio also offers customization on reports based on specific client requirement.
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Technavio Announces the Publication of its Research Report – Health Supplement Market in Malaysia 2015-2019 Technavio recognizes the following companies as the key players in the Health Supplement Market in Malaysia: Amway, CCM, Cosway, Herbalceutical and Herbalife Other Prominent Vendors in the market are: Astana Biocare, Bioalpha, Dynapham Herbal, Era Herbal, QD Herbs, and White Heron Pharmaceuticals. Commenting on the report, an analyst from Technavio’s team said: “The Malaysian government is initiating various programs to spread healthcare awareness. The Malaysian Ministry of Health regularly encourages healthy lifestyle practices among its citizens by organizing many health-oriented campaigns. These campaigns include health talks, anti-smoking campaigns, free medical check-ups, and campaigns to increase awareness about chronic diseases such as cancer, heart disease, oral health, sexual health, and mental health.” According to the report, older people are likely to suffer more from age-related diseases and digestive disorders because of low immunity levels. As a result, products that prevent age-related disorders, such as those linked to the digestive system, and ones that help maintain blood sugar levels, as well as low-cholesterol and low-fat foods, are in high demand among this age group. Further, the report states that Manufacturers, in general, list ingredients included in a dietary supplement. Often, a proprietary blend of ingredients not listed is also found. A certain amount of some ingredients might be safe, but many could cause side effects. This can pose a serious problem if a consumer is using other supplements at the same time and attempting to keep their intake level safe.
Amway, CCM, Cosway, Herbalceutical, Herbalife, Astana Biocare, Bioalpha, Dynapham Herbal, Era Herbal, QD Herbs, White Heron Pharmaceuticals.