Page 53 - Malaysian Dietary Supplement Industry Status and Outlook Report 2019-2020 Preview

Market outlook of the Malaysian Figure 3.2: Market Size of Dietary
dietary supplements is positive, as Supplement Products, Malaysia, 2016-2020.
increasing health awareness of the Source: Eigis Analysis.
average Malaysian shifts consumer
expenditure towards health-related f = forecast, with upper and lower
products. boundaries (95% confidence interval)

Being a consumer- and trend-driven market, the Note: Market size refers to total retail sale
performance of Malaysian dietary supplements industry has of dietary supplement products across direct
been trending up on the back of economic growth in the selling, brick-and-mortar, and online
Malaysian middle class. channels.

The market size of the Malaysian dietary supplements
industry in 2018 was RMn.nn billion. This is projected to
grow to RMn.nn billion and RMn.nn billion by 2019 and 2020
respectively. The industry’s CAGR between 2018 and 2020 is
projected at n.n%.

Perhaps a more significant market growth driver is the
increasing health awareness of Malaysians, particularly in
the younger to mid-adult segments (age 25 to 39). Health
trends such as gym-going, dieting, vegan, organic, healthy
eating, and related lifestyles are significantly more prevalent
today compared to a decade ago.

While these trends have yet to permeate the entire
population, the gradual but certain shifting of health-aware
consumers as they move further down the age group will
sustain positive demand in the years to come.

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