Demand for the Nutraceutical Products in Singapore Driven by Rise in Ageing Population (Above 65 Years) and Increase in Disposable Income: Ken Research

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“High prevalence of nutrient deficiency and other chronic diseases in Singapore led to a soaring demand for nutraceutical products in country.”

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 observed that Nutraceutical market is in its late growth stage and it can be further expanded through market promotions, spreading awareness about functional foods and beverages in respect with chronic diseases, collaboration with doctors and setting up of local manufacturing units. The market grew at a positive CAGR of 3.2% in terms of revenue during the period 2013-2018.

Increasing Lifestyle Diseases: The country observed a massive shift in diet and physical activity patterns owing to increasing prevalence of obesity, hypertension and other health related problems. Approximately 1.7 million Singaporeans with a BMI (Body Mass Index) of 23 or greater are susceptible to chronic diseases such as diabetes and heart diseases. This has increased the dependence of Singaporeans on nutraceuticals to prevent such diseases.

Rise in Demand for Vitamin D Supplements: About 40% and 8% Singaporeans were deficient and very deficient for Vitamin D respectively. Vitamin D deficiency results in abnormalities in calcium, phosphorus and bone metabolism and affected a substantial proportion of elderly and women population, which has led Singaporean consumers to purchase more Vitamin D supplements.

Singapore Nutraceutical Industry

Increasing Demand for Halal Nutraceuticals: Singapore’s strategic location at the very heart of Asia is a significant factor for the potential growth of its Halal Industry. Surrounded by a predominantly Muslim populated region, Singapore is the natural gateway to some 350 million Muslims in South East Asia. There has been an increasing demand for Halal Nutraceuticals that can be exported to the neighbouring Asian countries.

Poor Nutritional status among Elderly population: It was found that around 3 % of the elderly people were malnourished and the 48% were at risk of malnutrition according to the Singapore Longitudinal Ageing studies involving 6,000 seniors. This malnutrition among the elderly people has created a demand for nutraceutical products in Singapore market.

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

Keywords:-

Singapore Nutraceuticals Market

Nutraceuticals Industry In Singapore

Amway Singapore Nutraceuticals Market

Pfizer Nutraceuticals Market Singapore

Fonterra Singapore Nutraceuticals Market

Yeo Hiap Seng Nutraceuticals Market

Vitamin Sales Market Singapore

Singapore Functional Dairy Market

Singapore Reduced Fat Milk Market

Royal Friesland Campina NV Singapore

General Nutrition Centers Singapore

Singapore Sports Drink Market

Singapore Hot Drink Market Analysis

Vitamins Market Size Singapore

Single Vitamins Market Singapore

Nestle SA Nutraceutical Market Singapore

For more information on the research report, refer to below link:-

Singapore Nutraceuticals Market

Related Reports:-

Indonesia Nutritional Supplements Market Outlook to 2023 – By Vitamins (Single Vitamin and Multi-Vitamin) & Herbal And Standard Dietary Supplements (General Health, Beauty, Digestive, Bone, Heart Health, Memory, Joint), Functional Beverages and Functional Food

Philippines Nutraceuticals Market Outlook to 2022 – Composite Herbal Dietary Ingredients, Ginseng, Garlic and Ginkgo Biloba Based Herbal Supplements will Drive the Growth

Vietnam Nutraceuticals Market Outlook to 2022 – Rising Demand for Infant Products and Probiotic Supplements to Foster Future Growth

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249

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