Chicago, July 13, 2023 (GLOBE NEWSWIRE) -- According to a research report "Japan Dietary Supplements Market by Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Function, Mode of Application, Target Consumer, Distribution Channel (Pharmacy, Supermarket/Hypermarket, Online) and Region - Global Forecast to 2028", published by MarketsandMarkets, Japan Dietary Supplements Industry to Grow at a CAGR 5.8% from 2023 to 2028.
The growing demand for sports nutrition products and the adoption of active lifestyles.
The strong focus on physical fitness and sports participation creates a higher demand for dietary supplements among athletes and fitness enthusiasts. These individuals seek supplements that can optimize their performance, aid in muscle recovery, and provide the necessary nutrients for their active lifestyles. Thus increased demand for sports-specific supplements stimulates the growth of the dietary supplements market. The sports nutrition segment within the industry specifically caters to the unique needs of athletes and those involved in intense physical activities.
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Manufacturers develop specialized products such as protein powders, amino acid supplements, pre-workout formulas, and recovery supplements that are specifically tailored to support athletic performance and facilitate faster recovery. This specialization creates a distinct market niche within the broader dietary supplements industry. Furthermore, the aging population in Japan has fueled the growth of the dietary supplements market as individuals prioritize maintaining health and vitality. With age-related changes and increased susceptibility to health conditions, dietary supplements are viewed as a proactive and convenient way to address specific nutritional needs and support healthy aging. The emphasis on preventive healthcare in Japanese culture further contributes to the popularity of supplements, which are seen as part of a comprehensive approach to wellness.
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List of Market Players in Dietary Supplements Industry
- Otsuka Holdings Co., Ltd (Japan),
- Nestle (Switzerland),
- Herbalife International of America, Inc. (US),
- Abbott (US),
- Amway Corp (US),
- Pfizer Inc. (US),
- ADM (US),
- International Flavors & Fragrance (US),
- Glanbia PLC (Ireland),
- GSK PLC. (UK),
- Bayer AG (Germany),
- Nature's Sunshine Products, Inc (US),
- Bionova (Canada),
- ArkoPharma (France),
- American Health (US),
- Pure Encapsulation (US),
- H&H Group (Hong Kong),
- Nu Skin (US),
- Power Gummies (India),
- Biomedical Research Laboratories (US),
- HealthKart (India),
- NutriScience Corporation (US),
- Nature's Essentials (US),
- Life Extension (US)
Asia Pacific provides the highest growth prospects for the dietary supplements market in 2023
Asia Pacific is a highly diverse market in terms of dietary supplement manufacturing and consumption. The Asia Pacific dietary supplements market in is expected to grow at a significant rate. The population across has been increasingly switching towards a healthier life by the adoption of dietary supplements in different forms, which are naturally sourced. Additionally, the geriatric population has been growing in countries such as Japan, where the demand for geriatric supplements and medicinal supplements is set to grow. Further, after the pandemic countries like India and China are increasingly adopted these supplements apart from daily diet, as a means of prevention and fulfilling dietary requirements. These countries are also offering key players to expand their reach in the dietary supplements market by providing a vast customer base, the focus of the companies operating in the market is shifting towards establishing business and manufacturing facilities, which drives the market in the region.
The prime factor contributing to the growth of dietary supplements in the region is the growing adoption of supplements to meet the intensifying food demand and escalating population. Additionally, key players like Abbott (US), Nestle (Switzerland), and others have a strong presence and market share in the region, which further boost the dietary supplements market in the Asia Pacific.
See Also :
UK Dietary Supplements Market
Germany Dietary Supplements Market
France Dietary Supplements Market
China Dietary Supplements Market
