Page 95 - Malaysian Dietary Supplement Industry Status and Outlook Report 2019-2020 Preview

• Regulatory frameworks are lagging behind market
and product innovation, slowing down industry
progress.
• Lack of harmonization of ASEAN standards and
regulatory frameworks not conducive for regional
export growth.

These challenges need to be addressed urgently for our
industry to capitalized on ongoing opportunities in domestic
and global markets, namely:

Domestic Market
• Improve overall Malaysian health by tackling
nutritional deficiencies.
• Improve awareness of healthy ageing in younger
Malaysians of today.
• Significantly reduce burden on Malaysia’s healthcare
system via minimization of preventable ill-health.

Global Markets
• Expand export markets for domestic OEM/ODM
manufacturing of dietary supplement products.
• Gain outright market leadership in the
manufacturing of halal certified dietary supplement
products.
• Develop high-value and exportable intellectual
properties using locally sourced natural resources.

A key success factor in addressing our industry’s challenges
and accelerating its growth is an industry development
framework, subscribed by all stakeholders of the industry
involving both public and private sectors. The industry
development framework will serve as a roadmap for the
industry and facilitate the industry’s vision to be a prominent
global player.

Justifications for Industry Development Framework
• The global dietary supplements industry today is
worth about USDnnn billion (2018) and projected to
grow to USD186 billion by 2020 at a CAGR of n.n%.
• Conversely, the Malaysian dietary supplements
industry today is worth about USDn.n billion and
projected to grow to USDn.n billion by 2020 at a
CAGR of n.n%.
• We are growing at a rate that is well below the
global benchmark.
• In terms of prevalence of dietary supplement usage,
Malaysians are significantly lower at just ~nn%
compared to benchmark countries (by population
size) such as Taiwan and Australia (~nn%-nn%)

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