“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.
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:-
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