This article is based on the Health Supplements (Southeast Asia Outlook 2023)This free PDF takes a look at Southeast Asia health supplements market: market segments, price ranges, popular brands and many more.Southeast Asia health supplement Outlook, a free PDF published by TMO Group in 2023. The outlook is based on data we collected in June 2023 from approximately 120,000 SKUs on Shopee and Lazada —two leading eCommerce platforms in the region. It provides insights into the market structures, category analysis, best-selling brands, price ranges, and more across 6 Southeast Asian countries.
A growing market with Indonesia and Thailand leading the way
The Southeast Asia region’s GDP growth has consistently remained at high levels. Over the past three years, with the increasing concern for health due to the COVID-19 pandemic, the Southeast Asian health supplements market has experienced a hot surge in sales.
In June 2023, the sales of health supplements in six countries—Thailand, Vietnam, Singapore, the Philippines, Indonesia, and Malaysia—on the Shopee and Lazada platforms surpassed USD 100 million, with sales volume exceeding 13 million units!
In terms of market potential in each country, Indonesia and Thailand lead the way, with total health supplements market sizes reaching USD 36.42 million (36.3%) and 20.47 million (20.4%), respectively.
A low concentration of brands shows ample opportunities
Referring to the categorization of the healthcare industry and eCommerce market segments, TMO has classified health supplements sold in the Southeast Asian online market into five main categories: Nutritional health supplements, Beauty nutritional supplements, Functional nutritional supplements, Comprehensive nutritional supplements, and Herbal nutritional supplements. Among these, Nutritional and Beauty supplements have the largest market shares, accounting for 23.4% and 18.7% respectively.
However, within all these subcategories, the combined market share of the top 10 best-selling brands does not exceed 20%. This indicates that the entire market remains highly dynamic, especially offering significant market expansion opportunities for new entrants. This phenomenon is particularly evident in the category of beauty nutritional supplements, where the largest brand, Dr. PONG, holds only a 2.2% share, with Singaporean brand KINOHMITSU, ranked second, differing by just 0.2%.
Overseas brands remain popular
Despite facing competition from local brands, overseas brands such as Herbalife, Life Space, DHC, Swisse, and Blackmores have secured their positions as the top five best-selling brands in various Southeast Asian countries. They are particularly popular in the comprehensive nutritional supplements subcategory. This indicates a relatively high acceptance of imported health supplements among Southeast Asian consumers.
Southeast Asian consumers also have a preference for Japanese brands in the beauty nutritional supplements subcategory. Brands like DHC and SHISEIDO have made it into the top five best-selling brands list for this subcategory in Thailand and Vietnam.
Meanwhile, Chinese products also have a presence in the market. The Chinese brand Tiens (天狮) has achieved notable success in Indonesia’s nutritional health supplements segment, ranking second in terms of sales.
TMO believes that the Southeast Asian health supplements market is open and inclusive. However, due to varying cultural and economic levels among countries, consumer preferences also exhibit notable differences. By understanding the market in each country, brands and businesses can better explore Southeast Asia as a destination for expansion.
For more specific data and analysis, please download the “Health Supplements (Southeast Asia Outlook 2023)This free PDF takes a look at Southeast Asia health supplements market: market segments, price ranges, popular brands and many more.2023 Southeast Asian Health Supplements Outlook” If you are interested in looking into any other industry market, feel free to Contact UsWant to know more about our E-Commerce solutions? Interested in creating a multi-channel strategy? Contact our E-commerce agency in Shanghai Hong Kong Amsterdamcontact us to discuss your project and how we can provide theData ServiceWe provide you with professional data research and analysis for Southeast Asia and China eCommerce. Information includes sales volume, market size, segmentation, brand, merchant, share and price. data service for it.
