Page 82 - Malaysian Dietary Supplement Industry Status and Outlook Report 2019-2020 Preview
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Figure 5.1: Global Dietary Supplements A Growing Industry
Market Size, 2016-2020.
Source: Zion Market Research. Despite the Malaysian dietary
supplement industry’s below average
growth rate, the industry’s outlook is
positive given the size of market
potential that remains untapped.
Global prospects for dietary supplements are one of the best
among consumer goods. In 2018, the global market value for
dietary supplements was estimated at around USD nnn
billion (or ~RMnnn billion). This is projected to increase to
USD nnn billion by 2020 (or ~RMnnn billion) at a CAGR of
n.n%.
Comparatively, Malaysia’s dietary supplement market is
growing at a CAGR just n.n% in the same time period. Given
our smallish market size compared to the global market (of
roughly n.n%), we should be growing at a rate that exceeds
the global average. We believe that the upsides are enticing.
In addition, market fundamentals for growth are well
established. Awareness of the importance of health is
increasing, access to information is improving, and the
prevalence (or preference) for preventive healthcare in
Malaysia is well-accepted. In fact, based on the industry’s
observation, Malaysia ranks higher than some of the larger
markets in Asia in terms of receptiveness towards dietary
supplementation for preventive healthcare.
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