The
report titled “Singapore
Nutraceutical (Vitamin and Dietary Supplements, Functional Food and Beverages) Market
Outlook to 2023 – Maturing Market backed by Demand from Millennials for Multivitamins
and Minerals” provides a comprehensive analysis of the nutraceutical
market in Singapore. The report also covers the overall market size in terms of
revenue, segmentation on the basis of product category and channels of
distribution for vitamins & dietary supplements, functional beverages and
functional foods, trends and developments, issues and challenges, regulations
in Singapore, issues and challenges, value chain analysis, SWOT analysis, entry
barriers, competitive scenario and company profiles. The report concludes with
market projections and analyst recommendations highlighting the major opportunities
and cautions.
Singapore Nutraceutical Market Overview and Size
Singapore
nutraceutical market grew at a single digit CAGR during the review period
2013-18. The market growth was supported by the surge in the personal
disposable income, rise in ageing population, increasing health awareness and
preventive nature of the age group (25-45 years). The market was observed in
its late growth stage and is tending towards into maturity due to the presence of
large number of players already competing in the market. A fundamental shift
was observed towards the Singapore health and wellness industry, from taking
health supplements in the old age to a preventive consumption pattern in which
the consumption of supplements increased in the earlier ages in order to
prevent them from permanently depending on pharmaceutical drugs. Nutraceutical
ingredients have positioned itself as natural and healthy alternative to
traditional medicine in the country.
Singapore Nutraceutical Market Segmentation
Vitamins and Dietary Supplements: Vitamins and Dietary Supplements segment led the nutritional
supplements market in 2018. Increasing awareness towards sports & Fitness
and awareness towards anti-aging and detoxification issues among Singapore
consumers has proved to be the key driving force which has boosted the demand
for V&D Supplements in the Singapore.
Functional Foods: The
functional foods segment followed Singapore nutraceuticals market in the year
2018 owing to elevating consumption of processed food in the country, therefore
allowing Singaporean users to purchase premium health products and driving the
demand for functional foods across the region. The usage of functional foods in
the Singapore for specific health reasons, such as nourishing the heart and
brain and facilitating healthy digestion has given a boost to the segment’s
revenue.
Functional Beverages: Functional
Beverages captured the remaining revenue share in the Singapore nutraceuticals
market in the year 2018. Increasing consumer shift towards healthy drinks is
also influenced by the high presence of sugar content and rising cost of
carbonates, such as flavored soft drinks and packaged juices. As a result, the
customers have started to opt for fresh/natural juices and other non-sugary,
health comfort drinks. There is an increasing interest in functional drinks
such as vinegar-based drinks, turmeric elixirs, charcoal juices, algae water
and others.
Competitive Landscape
Singapore Vitamins and Dietary Supplements Market
Competition
within the Singapore vitamins and dietary supplements market was witnessed to
be fragmented with top 10 players namely General Nutrition Centers Inc, Suntory
Holdings Ltd, Nu Skin Enterprises Inc, Amway Corp, Bayer AG USANA Health
Sciences Inc, Bionor Pharma, ASA Pfizer Inc and Blackmores Ltd and others) in
the year 2018. One of the biggest influences is a customers’ personal
disposable income and their allotted budgets for vitamins and dietary
supplements. Speedy growth of V&Ds among the Singapore has forced several
companies with different channels to offer products in different formats (such
as pills, tablets or powder), positioning and pricing.
Singapore Functional Beverages Market
The
functional beverage market was witnessed to be concentrated with the top 3
players which captured most of the market share and major players are Nestlé
SA, Thai Beverage PLC, Malaysia Dairy Industries Pte Ltd, Suntory Holdings Ltd,
TC Pharmaceutical Industry Co Ltd, Yeo Hiap Seng Ltd, and GlaxoSmithKline Plc.
The most preferred distribution channels for functional beverages were
supermarkets and convenience stores.
Singapore Functional Foods Market
Competition
within the Singapore functional foods market was noted to be fragmented due to
the existence of a large number of players, both international as well as
domestic. Major players in the Singapore functional foods market are Abbott
Laboratories Inc, Yakult Honsha Co Ltd, Malaysia Dairy Industries Pte Ltd,
Nestlé SA, Reckitt Benckiser Group Plc (RB), Fonterra Co-operative Group Ltd,
Thai Beverage PCL, Danone Groupe, Royal Friesland Campina NV and Others. Over
the years, the competition has intensified as the companies are focusing
towards improving the quality of their products.
Singapore Nutraceutical Market Future Outlook
The
nutraceutical market is expected to grow in the future with a single digit CAGR
over the forecast period (2018-23E).Vitamins and dietary supplements market is
expected to capture the highest market share among all the three categories in
nutraceutical market in the year 2023. Standard Vitamins and Dietary
Supplements will be leading the market by capturing approximately over half of
the market by the end of the year 2023.
Key Segments Covered:-
Vitamins and Dietary Supplements:-
By type (Vitamins and Dietary Supplements)
By nature (standard and herbal/traditional vitamins &
dietary supplements)
By Age Group (Infants, Teenage, Adult, Seniors)
By type of vitamins (single vitamins and multivitamins)
By Type 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 Age Group for Vitamins & Dietary Supplements Infants,
Teenage, Adults (25-45 years) and Seniors (above 45 years)
By Type of Distribution Channel (Hypermarkets, Supermarkets,
Health Food Shops, Department Stores, Drugstores/Para pharmacies, Internet
Retailing and Direct Selling, 2013-18
Functional Foods
By Type of Functional Foods (Dairy, Baby Food, Confectionary,
Breakfast Cereals, Bread, Cooking Oil)
By Type of Dairy Products (Dairy Based Yoghurt, Milk,
Powdered Milk, Flavoured Milk Drinks, Cheese)
By type of Distribution Channel (Supermarkets, Traditional
Grocery Retailers, Convenience Stores, Hypermarkets, Non- Grocery Specialists,
Internet Retailing and Direct Selling)
Functional Beverages
By Product Category (Soft Drinks and Hot Drinks)
Type of Soft Drinks (Fruit/vegetable juice, Sports Drink,
Energy Drink, Concentrated and Bottled Water Type of Soft Drinks
(Fruit/vegetable juice, Sports Drink, Energy Drink, Concentrated and Bottled
Water)
By type of Distribution Channel (Supermarkets, Traditional
Grocery Retailers, Convenience Stores, Hypermarkets, Non- Grocery Specialists,
Internet Retailing and Direct Selling)
Key Target Audience:-
Nutraceuticals
Manufacturers
Government
Agencies
Vitamin
and Dietary Supplements Companies
Functional
Foods Companies
Functional
Beverage Companies
Hypermarkets
Supermarket
Chains
Drug
Stores
Pharmacies
Chain
Online
Retailing Companies
Time Period Captured in the Report:-
Historical Period: 2013-2018
Forecast Period: 2019-2023E
Major Companies Covered:-
Vitamins
and Dietary Supplements:
General Nutrition Centers Inc, Nu Skin Enterprises
Inc, Amway Corp, Bayer AG, USANA Health Sciences Inc, Bionor Pharma ASA, Pfizer
Inc, Blackmores Ltd, Eu Yan Sang International Ltd
Functional
Foods:
Abbott
Laboratories Inc, Yakult Honsha Co Ltd,
Malaysia Dairy Industries Pte Ltd,
Reckitt Benckiser Group Plc (RB),
Fonterra Co-operative Group Ltd, Danone Groupe, Royal Friesland Campina NV
Functional
Beverages:
Nestlé SA, Thai Beverage PLC, Malaysia Dairy
Industries Pte Ltd, Suntory Holdings Ltd, TC Pharmaceutical Industry Co
Ltd, Yeo Hiap Seng Ltd, GlaxoSmithKline Plc
Key
Topics Covered in the Report:-
Singapore
Nutraceutical Market Overview and Genesis
Singapore
Nutraceutical Market Size
Singapore
Nutraceutical Market Segmentation
Singapore
Vitamins & Dietary Supplements Market
Singapore
Functional Foods Market
Singapore
Functional Beverages Market
Trends
and Developments in Singapore Nutraceutical Market
Regulations
in Singapore Nutraceutical Market
Issues
and Challenges in Singapore Nutraceutical Market
SWOT
Analysis of Singapore Nutraceutical Market
Entry
Barriers of Singapore Nutraceutical Market
Singapore
Nutraceutical Market Future Projections, 2018-2023E
Analyst
Recommendations
Vietnam Nutraceuticals
Market Outlook to 2022 - Rising Demand for Infant Products and Probiotic
Supplements to Foster Future Growth
For more information on the research report, refer to below
link:-
Related Reports:-
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
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