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
Region:Asia
Author(s):Mustafa Kanwaswala, Arun Ravindranath
Product Code:KR836
July 2019
181
About the Report
Singapore Nutraceutical Market Overview and Size: Singapore nutraceutical market grew at a single digit CAGR during the review period 2013-18. The market growth was supported by the surge in the personal disposable income, rise in ageing population, increasing health awareness and preventive nature of the age group (25-45 years). The market was observed in its late growth stage and is tending towards into maturity due to the presence of large number of players already competing in the market. A fundamental shift was observed towards the Singapore health and wellness industry, from taking health supplements in the old age to a preventive consumption pattern in which the consumption of supplements increased in the earlier ages in order to prevent them from permanently depending on pharmaceutical drugs. Nutraceutical ingredients have positioned itself as natural and healthy alternative to traditional medicine in the country.
Singapore Nutraceutical Market Segmentation
Vitamins and Dietary Supplements: Vitamins and Dietary Supplements segment led the nutritional supplements market in 2018. Increasing awareness towards sports & Fitness and awareness towards anti-aging and detoxification issues among Singapore consumers has proved to be the key driving force which has boosted the demand for V&D Supplements in the Singapore.
Functional Foods: The functional foods segment followed Singapore nutraceuticals market in the year 2018 owing to elevating consumption of processed food in the country, therefore allowing Singaporean users to purchase premium health products and driving the demand for functional foods across the region. The usage of functional foods in the Singapore for specific health reasons, such as nourishing the heart and brain and facilitating healthy digestion has given a boost to the segment’s revenue.
Functional Beverages: Functional Beverages captured the remaining revenue share in the Singapore nutraceuticals market in the year 2018. Increasing consumer shift towards healthy drinks is also influenced by the high presence of sugar content and rising cost of carbonates, such as flavored soft drinks and packaged juices. As a result, the customers have started to opt for fresh/natural juices and other non-sugary, health comfort drinks. There is an increasing interest in functional drinks such as vinegar-based drinks, turmeric elixirs, charcoal juices, algae water and others.
Competitive Landscape
Singapore Vitamins and Dietary Supplements Market: Competition within the Singapore vitamins and dietary supplements market was witnessed to be fragmented with top 10 players namely General Nutrition Centers Inc, Suntory Holdings Ltd, Nu Skin Enterprises Inc, Amway Corp, Bayer AG USANA Health Sciences Inc, Bionor Pharma, ASA Pfizer Inc and Blackmores Ltd and others) in the year 2018. One of the biggest influences is a customers’ personal disposable income and their allotted budgets for vitamins and dietary supplements. Speedy growth of V&Ds among the Singapore has forced several companies with different channels to offer products in different formats (such as pills, tablets or powder), positioning and pricing.
Singapore Functional Beverages Market: The functional beverage market was witnessed to be concentrated with the top 3 players which captured most of the market share and major players are Nestlé SA, Thai Beverage PLC, Malaysia Dairy Industries Pte Ltd, Suntory Holdings Ltd, TC Pharmaceutical Industry Co Ltd, Yeo Hiap Seng Ltd, and GlaxoSmithKline Plc. The most preferred distribution channels for functional beverages were supermarkets and convenience stores.
Singapore Functional Foods Market: Competition within the Singapore functional foods market was noted to be fragmented due to the existence of a large number of players, both international as well as domestic. Major players in the Singapore functional foods market are Abbott Laboratories Inc, Yakult Honsha Co Ltd, Malaysia Dairy Industries Pte Ltd, Nestlé SA, Reckitt Benckiser Group Plc (RB), Fonterra Co-operative Group Ltd, Thai Beverage PCL, Danone Groupe, Royal Friesland Campina NV and Others. Over the years, the competition has intensified as the companies are focusing towards improving the quality of their products.
Singapore Nutraceutical Market Future Outlook
The nutraceutical market is expected to grow in the future with a single digit CAGR over the forecast period (2018-23E).Vitamins and dietary supplements market is expected to capture the highest market share among all the three categories in nutraceutical market in the year 2023. Standard Vitamins and Dietary Supplements will be leading the market by capturing approximately over half of the market by the end of the year 2023.
Key Topics Covered in the Report
- Singapore Nutraceutical Market Overview and GenesisSingapore Nutraceutical Market Size
- Singapore Nutraceutical Market Segmentatio
- Singapore Vitamins & Dietary Supplements Market
- Singapore Functional Foods Market
- Singapore Functional Beverages Market
- Trends and Developments in Singapore Nutraceutical Market
- Regulations in Singapore Nutraceutical Market
- Issues and Challenges in Singapore Nutraceutical Market
- SWOT Analysis of Singapore Nutraceutical Market
- Entry Barriers of Singapore Nutraceutical Market
- Singapore Nutraceutical Market Future Projections, 2018-2023E
- Analyst Recommendations
Products
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
Companies
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)
Table of Contents
1. Executive Summary
Singapore Nutraceuticals Market Overview and Size
Singapore Nutraceuticals Market Segmentation
Competitive Scenario in the Singapore Nutraceuticals Market
Singapore Nutraceuticals Market future Outlook and Projections
2. Research Methodology
2.1. Market Definition and Size
2.2. Abbreviations
2.3. Market Size and Modeling
2.4. Research Methodology
2.5. Interpretation and Proofreading:
Variables Dependent and Independent
Multifactor Based Sensitivity Model
Limitations
Conclusion
3. Value Chain Analysis for Singapore Nutraceuticals
4. Singapore Nutraceutical Market Overview and Genesis
4.1. Introduction to Singapore Nutraceutical Market
5. Singapore Nutraceutical Market Size, 2013-2018
6. Singapore Nutraceutical Market Segmentation, 2013-2018
6.1. By Vitamins and Dietary Supplements, Functional Beverages and Functional Foods, 2013-2018
7. Singapore Vitamins and Dietary Supplements Market, 2018
7.1. Singapore Dietary Supplements Market Overview and Genesis
7.2. Singapore Vitamins and Dietary Supplements Market Size, 2013-2018
7.3. Singapore Vitamins and Dietary Supplements Market Segmentation, 2013-2018
By Non-Herbal and Herbal Dietary Supplements, 2013-2018
By Age Group (Infants, Teenage, Adult, and Seniors), 2018
By Type (Vitamins And Dietary Supplements), 2018
By Type of Vitamins (Single Vitamins and Multivitamins), 2018
By Type of Dietary Supplements (Standard/Non-Herbal and Herbal/Traditional), 2018
By Type of Distribution Channel (Hypermarkets, Supermarkets, Health Food Shops, Department Stores, Drugstores/Para pharmacies, Internet Retailing and Direct Selling,
2013-18
7.4. Comparative Landscape in the Singapore Vitamins and Dietary Supplements Market
Competition Scenario, 2018
Market Share of Major Players, 2018
Pricing Analysis, 2018
7.5. Company Profiles of Major Players in Singapore Vitamins and Dietary Supplements Market
General Nutrition Centers Inc.
Suntory Holdings Ltd.
NU Skin Enterprises Inc.
Amway corp.
Bayer AG
USANA Health Sciences Inc.
Blackmores Ltd.
Pfizer Inc.
Eu Yan Sang International Ltd.
Other Players
7.6. Company Shares and Brand Shares of Major Players, 2013-2018
7.7. Singapore Vitamins and Dietary Supplements Market Future Outlook and Projections, 2018-2023E
7.8. Singapore Vitamins and Dietary Supplements Market Segmentation, 2018-2023E
By Non-Herbal and Herbal Vitamins and Dietary Supplements, 2018-2023E
By Age Group (Infants, Teenage, Adult and Seniors), 2018-2023
By Type (Vitamins and Dietary Supplements), 2018-2023E
By Type of Vitamins (Multivitamins and Single Vitamins), 2023E
By Type of Dietary Supplements (Standard/Non-Herbal and Herbal/Traditional), 2023E
8. Singapore Functional Beverages Market, 2018
8.1. Singapore Functional Beverages Market Size, 2013-2018
8.2. Singapore Functional Beverages Market Segmentation, 2013-2018
By Product Category (Soft Drinks and Hot Drinks), 2013-2018
By Type of Soft Drinks (Fruit/vegetable juice, Sports Drink, Energy Drink, Concentrated and Bottled Water)
By Distribution Channel (Hypermarkets and Supermarkets, Convenience stores, Retailers and Other Grocery Retailers)
8.3. Comparative Landscape in the Singapore Functional Beverages Market
Competition Scenario in the Singapore Functional Beverages Market
Pricing Analysis, 2018
8.4. Company Profiles of Major Players in Singapore Functional Beverage Market
Nestle SA
Thai bevarages
Malaysia Dairy Industries PTE Ltd
TC Pharmaceutical Industry Co Ltd.
Yeo Hiap Seng Ltd
GlaxoSmithKline PLC
8.5. Singapore Functional Beverages Market Future Projections and Outlook, 2018-2023E
8.6 Functional Beverages Market Segmentation by Soft and Hot Drinks, 2018-2023E
9. Singapore Functional Foods, 2018
9.1. Singapore Functional Foods Market Size, 2013-2018
9.2. Singapore Functional Foods Market Segmentation, 2018
By Type of Functional Foods (Dairy, Baby Food, Confectionary, Breakfast Cereals, Bread, Cooking Oil), 2013-2018
Sales of Dairy Products By (Dairy Based Yoghurt, Milk, Powdered Milk, Flavoured Milk Drinks, Cheese), 2013-2018
By type of Distribution Channel, 2013-2018
9.3. Comparative Landscape in the Singapore Functional Foods Market, 2018
Competition Scenario, 2018
Pricing Analysis, 2018
9.4. Market Share of Major Companies in Singapore Functional Foods Market, 2018
9.5. Company Profiles of Major Players in Singapore Functional Foods Market, 2018
Abbott Laboratories Inc.
Yakult Honsha Co. Ltd.
Reckitt Benckiser
Fonteraa Co-operative Group Ltd.
Danone, Groupe
Royal Friesland Campina NV
9.6. Singapore Functional Foods Market Future Outlook and Projections, 2018-2023E
9.7. Singapore Functional Foods Future Market Segmentation, 2018-2023E
By Type of Functional Foods, 2018-2023E
By Type of Dairy Products (Dairy Based Yoghurt, Milk, Powder Milk, Flavored Milk Drinks and Cheese), 2018-2023E
10. Trends and Developments in the Singapore Nutraceuticals Market
10.1. Accrueing Lifestyle Diseases Among Singaporeans
10.2. Increasing Demand for HALAL Nutraceuticals
10.3. Increase in Aging of population
10.4. Increasing Consumption of Herbal Supplements in Singapore
10.5. Poor Nutritional Status
11. Issues and Challenges in Singapore Nutraceuticals Market
11.1. High Cost of Doing Business
11.2. Dominance by Multinationals
11.3. Difficulty in product differentiation
11.4. Lack of awareness in Old age population about the Vitamins and Supplements for their diets
12. Regulatory Framework Regarding Health Supplements in the Singapore
12.1. Introduction
12.2. Legislation
12.3. Working Definition
12.4. Exceptions
12.5. Vitamins and mineral limits
12.6. Product Label Information
12.7. Health Supplements Claims Guidelines
12.8. Medical Advertisements and Sales Promotion Control
12.9. Product and Dealer Licensing Control
12.10. List of Prohibited/Restricted Ingredients for Health Supplements
13. Entry Barriers and Pre-Requisites to Enter in the Singapore Nutraceuticals Market
14. SWOT Analysis of Singapore Nutraceutical Market, 2018
15. Singapore Nutraceuticals Market Future Outlook and Projections, 2018-2023E
15.1. By Revenues, 2018-2023E
15.2. By Type (Vitamins and Dietary Supplements, Functional Foods and Functional Beverages), 2018-2023E
16. Analyst Recommendations in Singapore Nutraceuticals Market
Disclaimer
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