Increasing cases of chronic diseases along growing demand for nutraceuticals personal care products are the prominent factors driving the Malaysia Nutraceuticals Market.
The Malaysia Nutraceuticals Market was valued at USD 794.4 million in the base year 2020, and is projected to reach USD 1,382.3 billion by 2027, with a CAGR of 8.8% during the forecast period (2017-2027).
The major factor attributing to the growth in Malaysia nutraceuticals market is the growing incidences of chronic diseases in Malaysia. Changing lifestyle and the increasing consumption of unhealthy food is resulting in increasing cases of chronic diseases such as cancer, anaemia, heart disease, diabetes, arthritis and stroke. According to WHO, in 2020, there were 48,639 new cases of cancer and 29,530 cancer deaths were registered in Malaysia. In addition, as per the data released by Department of statistics Malaysia, in October 2019, Ischaemic heart diseases remained the principal cause of death and was estimated at 15.6%. Further, the findings of The National Health and Morbidity Survey (NHMS) showed that in 2019, 50.1% of adults in Malaysia were either overweight or obese. Owing to such high cases of chronic diseases, there is rapid rise in the demand for products that will help in preventing and treating these diseases. Also, growing popularity to stay fit and in shape, self-care and preventive medication among Malaysians is also contributing in driving the Malaysia nutraceuticals market.
Nutraceuticals are medicinal foods that improves health, modulate immunity and thus, helps in preventing several chronic diseases. Nutraceutical products such as vegetables, dairy products, wholegrain cereals, fruits and animal products contains essential nutrients such as vitamins, amino acids, minerals and fatty acids. These nutrients are helpful in curing heart diseases, cataracts, stroke, cancer and diabetes. Apart of this, varieties of herbs used in nutraceutical products offer several functions. For instance, Peppermint contains menthol as and is helpful in curing cold and flu 18; Lavender contains tannin that is helpful in curing hypertension, depression, stress and asthma; Cranberries contain proanthocyanadin and are found useful in treating cancer, urinary tract infections and ulcers. Owing to such wide application, there has been increasing demand of nutraceutical products which is thereby driving the Malaysia nutraceuticals market.
Moreover, growing demand for personal care products in Malaysia is also responsible in driving the Malaysia nutraceuticals market. Nutraceutical products has phytochemicals such as flavonoids, polyphenols, limonoids that offers several properties like antiaging, anti-inflammatory, anti-allergic, antioxidants, antifungal, antispasmodic and antibacterial properties. Due to these properties, nutraceuticals have a high application in personal care products which is thereby driving the Malaysia nutraceuticals market. Furthermore, increasing healthcare costs, growing geriatric population, food innovations are also positively impacting the overall growth of the Malaysia nutraceuticals market.
Impact of COVID-19 on Malaysia Nutraceuticals Market
COVID-19 pandemic has majorly impacted Malaysian economy and has increased public concern of maintaining health. People suffering from metabolic disorders like diabetes and obesity are at high risk of getting COVID-19 infection. As per the International Diabetes Federation, people with these metabolic disorders are more prone to get infected with the virus because of compromised immune systems in them. In addition, treating COVID-19 patients with diabetic is more difficult as the virus tends to grow rapidly in elevated blood sugar levels. Therefore, controlling the blood sugar levels is of high importance in treating COVID-19 infected patients, and thus, nutritional support plays a vital role in this context, thereby helping in the growth of the Malaysia nutraceuticals market.
The Malaysia Nutraceuticals Market Segmentation:
Malaysia Nutraceuticals Market Type of Nutraceutical Outlook (Revenue, USD Billion, 2017-2027)
Malaysia Nutraceuticals Market Application Outlook (Revenue, USD Billion, 2017-2027)
Key Findings:
Company Profiles and Competitive Intelligence
The key players operating in the Malaysia Nutraceuticals market are:
Recent News:
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