(MENAFN- America News Hour)Research Nester released a report titled ''Indonesia and Philippines Vitamins and Nutraceuticals Market: Global Demand Analysis & Opportunity Outlook 2027'' which delivers detailed overview of the Indonesia and Philippines vitamins and nutraceuticals market in terms of market segmentation by product, by derivative, by application, by end users and by distribution channel.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
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The market for vitamins and nutraceuticals in Indonesia and Philippines is anticipated to witness exuberant growth and grow at a CAGR of 6.06% and 5.39% respectively over the forecast period, i.e., 2020-2027. The market in Indonesia is estimated to reach a value of USD 3,424.06 million by the end of 2027. The vitamins and nutraceuticals market is segmented by product, by derivative, by application, by end users and by distribution channel. Based on product, the market is segmented into functional food, functional beverages, dietary supplements, feed additives and personal care, out of which, the functional food beverage segment held the highest market share in both Indonesia as well as Philippines with a value of USD 804.99 million and USD 165.18 million in 2018 respectively. On the basis of derivative, the market is segmented into synthetic and natural, out of which, the naturally derived products are growing at a much faster pace as a result of growing awareness about the benefits of organic consumable products over synthetic products.
Increasing Health Related Problems To Raise The Demand For Vitamins And Nutraceuticals
According to the World Bank, 17.9 million people were estimated to die from cardiovascular diseases in 2016, out of which, 85% deaths were estimated to occur as a result of heart attack and stroke.
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The rising cases of heart disorders and other diseases caused by unhealthy diet, physical inactivity and obesity is predicted to be a major growth driver for the market. Moreover, the rapidly growing urbanization is estimated to further boost the market growth as it increases the demand for dietary supplements, functional food, medicinal food, pharmaceuticals and herbal products by people living in urban areas. However, the strict government policies and regulations associated with the testing, manufacturing and approval of dietary supplements such as vitamins and nutraceuticals is estimated to hinder the market growth during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Indonesia and Philippines vitamins and nutraceuticals market which includes company profiling ofNestlé (SWX: NESN), Danone S.A. (EPA: BN), Bayer (ETR: BAYN), Indofood Sukses Makmur Tbk (IDX: INDF), Abbott Laboratories (NYSE: ABT), Mayora Indah Tbk PT (IDX: MYOR), DSM (AMS: DSM), Amway (KLSE: AMWAY), Yakult Honsha Co. Ltd. (TYO: 2267), NuSkin Enterprises (NYSE: NUS), Otsuka (TYO: 4578) and Pfizer Inc. (NYSE: PFE). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Indonesia and Philippines vitamins and nutraceuticals market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Research Nester
Research Nester is a one-stop service provider, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives to make wise decisions for their future investment and expansion by providing them qualitative market insights and strategies while avoiding future uncertainties. We believe in honesty and sheer hard work that we trust is reflected in our work ethics. Our vision is not just limited to gain the trust of our clients but also to be equally respected by our employees and being appreciated by the competitors.
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