|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
Indonesian functional foods mkt to showcase remarkable growth until ’23
|
|
Tuesday, 02 April, 2019, 08 : 00 AM [IST]
|
|
Jakarta
|
Ken Research’s recent report, titled Indonesia Nutritional Supplements Market Outlook to 2023 - by Vitamins (Single Vitamin and Multi-Vitamin) and Herbal and Standard Dietary Supplements (General Health, Beauty, Digestive, Bone, Heart Health, Memory, and Joint), Functional Beverages and Functional Food, provided a comprehensive analysis of the nutraceutical market in Indonesia.
The report also covered the industry revenue, segmentation by product category and distribution channel for vitamins and dietary supplements, functional beverages and functional foods, trends and developments, issues and challenges, regulations in Indonesia, issues and challenges, competitive scenario and company profiles.
The report concludes with market projection and analyst recommendations highlighting the major opportunities and cautions.
Indonesia nutraceutical market overview & size
The Indonesian nutraceutical market was observed in its late growth stage and heading towards maturity from fragmented to consolidated nature. A fundamental shift was observed towards Indonesia health and wellness industry from the treatment of chronic type diseases to preventing chronic diseases in the first place, thereby reducing people’s dependency on various pharmaceutical drugs.
Nutraceutical ingredients have positioned itself as a natural and healthy alternative to traditional medicine in the country. The Indonesian nutraceutical market grew at a single-digit growth rate over the review period 2013-18.
Indonesian nutraceutical market segmentation
The functional food segment-dominated Indonesian nutraceutical market due to the elevation in the consumption of processed food in the country, therefore allowing Indonesians to purchase premium health products.
The baby food-dominated Indonesia functional foods market. Soft drinks dominated the functional beverage market.
Vitamins and dietary supplements captured the lowest revenue share in the Indonesian nutraceutical market in 2018.
Standard vitamins and dietary supplements dominated the vitamin and dietary supplement market due to their easy availability and low prices vis-a-vis the herbal ones.
Competitive landscape
The Indonesian functional food market is moderately concentrated in nature owing to the presence of international as well as domestic local manufacturers in this segment.
Some of the major players operating within the country’s functional foods market include Danone Group, Nestle SA, Royal Friesland Campina NV, Indofood Sukses Makmur Tbk PT, and others. The top five companies accounted for more than half of the revenue generated in 2018.
The functional beverages market in Indonesia is mildly fragmented with the top 10 players accounting for more than three-fourth of the market revenue. The market is led by multinationals. The dominance was due to their heavy investments in promotions.
There were seven major players in the functional beverages market - Amerta Indah Otsuka, Nestle Indonesia, TC Pharmaceutical Industry Co Ltd, Danone Group Royal FrieslandCampina NV Mayora Indah Tbk PT, and Indofood Sukses Makmur Tbk PT.
The Indonesian vitamin and dietary supplements market was witnessed to be moderately fragmented. Some key players active in the market include Bayer AG, Kalbe Farma Tbk Pt, Tempo Scan Pacific Tbk PT, Sido Muncul PT, Soho Industri Pharmasi PT, Darya-Varia Group, Citra Nusa Insan Cemerlang PT and K-Link International Sdn Bhd and many others.
Future outlook of Indonesia’s nutraceutical market
Indonesia’s functional foods market is expected to showcase noteworthy growth over the forecasted period 2018-2023. It will continue leading the Indonesian nutraceutical market, since Indonesians have resorted to change in their diet patterns to prevent fatal diseases like CHD, cancer, stroke, diabetes, and others. Baby food is expected to remain the market leader in functional foods.
Indonesian functional beverages are expected to remain a market follower by the year ending 2023, showcasing a single-digit compounded annual growth rate (CAGR) over the forecast period 2018-2023.
Soft drinks will be leading the functional beverages market by capturing more than half of the market share in the year 2023, and among soft drinks, a sports drink will be the biggest revenue generator. It is expected that local players like Mayora Indah will grow in the near future.
Indonesia’s vitamins and dietary supplements market is expected to capture the lowest market share among all the three categories in the nutraceutical market in the year 2023.
Standard vitamins and dietary supplements will be leading the market by capturing approximately three-fourth of the market by the end of the year 2023, but it is expected that the market for herbal vitamin and dietary supplements will be growing in the near future.
Vitamins are expected to lead the vitamins and dietary supplements and the paediatric vitamins and dietary supplements are expected to capture one-fourth of the total market, while tonics will have the least market share in the year 2023.
Single vitamins will be leading the market by capturing more than half of the total Vitamins market in the year 2023.
Key segments covered
Functional foods
• By type of functional foods (baby food, dairy, cooking oil, biscuits, snack bars and fruit snacks, gums, medicated and chocolate confectionery and breakfast cereals)
• By type of dairy products (flavoured milk drinks, powder milk, dairy-based yoghurt, milk, margarine and spreads and cheese)
• By channel of distribution (hypermarkets, supermarkets, independent small grocers, non-grocery specialists, and direct selling)
Functional beverages
• By product category (soft drinks and hot drinks)
• By channel of distribution (hypermarkets and supermarkets, independent small grocers, convenience stores, and other grocery retailers
Vitamins and dietary supplements
• By type (vitamins, dietary supplements, paediatric vitamins, and dietary supplements and tonics)
• By nature (standard and herbal/traditional vitamins and dietary supplements)
• By age group (infants, teenagers, adults and seniors)
• By types of vitamins (single vitamins and multivitamins)
• By types of dietary supplements (standard/non-herbal and herbal/traditional)
• By positioning of dietary supplements (general health and others, beauty, digestive, bone, heart health, memory health, and joint)
• By type of distribution channel (chemists/pharmacies, direct selling and Internet retailing, drugstores/parapharmacies, hypermarkets, supermarkets, and independent small grocers)
Key target audience
Nutraceutical manufacturers
Government agencies
Vitamins and dietary supplements companies
Functional foods companies
Functional beverages companies
Hypermarket and supermarket chains
Drug store and pharmacy chains
Online retailing companies
Time period captured in the report
Historical Period: 2013-2018
Forecast Period: 2019-2023
Companies Covered:
Functional foods (market share, strengths and weaknesses covered)
• Danone Group
• Nestle SA
• Royal FrieslandCampina NV
• Indofood Sukses Makmur Tbk PT
• Morinaga Milk Industry Co Ltd
• Ultrajaya Milk Industry & Trading Co Tbk PT
Functional beverages (market share, strengths and weaknesses covered)
• Otsuka Holdings Co Ltd
• Nestle SA
• TC Pharmaceutical Industry Co Ltd
• Mayora Indah Tbk PT
• Danone Groupe
• Royal FrieslandCampina NV
Vitamins and dietary supplements (market share, strengths and weaknesses covered)
• Bayer AG
• Kalbe Farma Tbk PT
• Tempo Scan Pacific Tbk PT
• Sido Muncul PT
• Soho Industri Pharmasi PT
• Darya-Varia Group
• Citra Nusa Insan Cemerlang PT
• K-Link International Sdn Bhd
Key topics covered in the report
Executive summary
Research methodology
Indonesian nutraceutical market overview and genesis
Indonesian nutraceutical market size
Indonesian nutraceutical market segmentation
Indonesian functional food market
Indonesian functional beverage market
Indonesian vitamins and dietary supplement market
Trends and developments in Indonesian nutraceutical market
Regulations in Indonesian nutraceutical market
Issues and challenges in Indonesian nutraceutical market
SWOT analysis of Indonesian nutraceutical market
Indonesian nutraceutical market future projections, 2018-2023
Analyst recommendations
|
|
|
|
|
|
|
|
|
|