Protein Powder Is The Largest Segment Driving The Growth Of Indonesia Dietary Supplements Market11/14/2023 The global Indonesia Dietary Supplements Market is estimated to be valued at US$ 2192.85 Mn or Mn in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Indonesia dietary supplements market includes products such as vitamins, sports nutrition, fatty acids, proteins and others. These supplements are widely consumed to meet daily nutrition requirements and to enhance performance and physical appearance. Growing health consciousness coupled with rising disposable income has boosted the demand for dietary supplements in Indonesia. Market key trends: One of the key trends witnessed in the Indonesia dietary supplements market is the shift towards plant-based supplements from conventional animal-based supplements. This is majorly due to rising veganism and flexitarianism trends in Indonesia. According to Indonesia Vegan Society, the number of vegans and vegetarians increased by 30% between 2018 to 2020. This has triggered increased demand for plant-based protein powders, oils, and other herbal supplements. Moreover, rising health issues like obesity, diabetes and cardiovascular diseases have further fueled the demand for dietary supplements for weight management and therapeutic remedies in the country. The growing demand is being catered by key players through product innovation, awareness programs and strategic marketing initiatives. Market key trends: The Indonesia dietary supplements market has been witnessing high growth owing to rising health awareness among consumers and busy lifestyle leading to nutrition deficiencies. With increasing promotional activities by manufacturers and availability through multiple distribution channels, consumers are increasingly adopting dietary supplements to meet their daily nutrition needs in a convenient way. Moreover, rising disposable incomes have enabled consumers to spend more on health and wellness products for a better quality of life. SWOT Analysis Strength: Growing health awareness and busy lifestyles leading to increased demand. Weakness: Low penetration in rural areas due to lack of awareness and distribution channels. Opportunity: Scope for new product innovation and launches catering to specific health targets. Threats: Stringent regulatory framework and counterfeit products can undermine consumer trust. Key Takeaways Indonesia Dietary Supplements Market Demand is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing health awareness among consumers. The market size for 2023 is US$ 2192.85 Mn. Regional analysis: Indonesia dominates the dietary supplements market in Southeast Asia owing to the large population and growing middle class. The western region of Indonesia also exhibits faster growth in uptake of supplements due to higher disposable incomes. Key players operating in the Indonesia dietary supplements market include ADM, PT Darya-Varia Laboratoria Tbk, Citra Nusa Insan Cemerlang PT, Sido Muncul PT, The Tempo Group, Bayer AG, BASF SE, Pfizer Inc., Nature’s Sunshine Products, Inc., Amway, and Glanbia PLC. Read More- https://www.trendingwebwire.com/indonesia-dietary-supplements-market-forecast-and-size/
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The global India Alcohol Market is estimated to be valued at INR 2,807,236.7 Bn in 2018 and is expected to exhibit a CAGR of 7.8% over the forecast period 2019 to 2027. A) Market Overview: The India Alcohol Market comprises various alcoholic beverages, including spirits, beer, and wine. These products are widely consumed for recreational purposes and social gatherings. The market is driven by the increasing disposable income of consumers and the growing social acceptance of alcohol consumption. In addition, the availability of a wide range of alcoholic beverages and the popularity of premium and craft drinks are further fueling market growth. B) Market Dynamics: The India Alcohol Market is primarily driven by two key factors. Firstly, the increasing disposable income of consumers has led to a rise in discretionary spending on leisure activities, including alcohol consumption. As consumers have more money to spend, they are willing to explore different alcoholic beverage options, thereby contributing to market growth. Additionally, the rising social acceptance of alcohol consumption has played a crucial role in driving the market. Unlike in the past, alcohol is now seen as a part of social gatherings and celebrations, leading to increased demand for alcoholic beverages. C) Market Key Trends: One key trend observed in the India Alcohol Market is the growing popularity of craft and premium drinks. Consumers are increasingly seeking unique and high-quality alcoholic beverages that offer a differentiated experience. Craft beers, artisanal spirits, and premium wines are gaining traction among consumers who are willing to pay a premium price for superior quality and taste. For example, craft breweries are emerging across the country, offering a wide range of flavorful and distinctive beers that cater to the evolving preferences of consumers. D) SWOT Analysis: Strengths: 1. Increasing disposable income 2. Rising social acceptance Weaknesses: 1. High taxation and regulations 2. Health concerns related to alcohol consumption Opportunities: 1. Growing market for craft and premium drinks 2. Expansion of distribution channels Threats: 1. Government regulations and restrictions 2. Competitive pressures from international players E) Key Takeaways:
In conclusion, the India Alcohol Market is poised for significant growth in the coming years. Factors such as increasing disposable income, rising social acceptance, and the growing popularity of craft and premium drinks are expected to drive market expansion. However, high taxation and regulations, along with health concerns related to alcohol consumption, pose challenges to market growth. |
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