Malaysia Nutraceuticals Market By Type of Nutraceutical (Functional Food, Functional Beverages, Dietary Supplements, Personal Care, Pharmaceuticals and Others), By Application (General Wellness, Beauty and Antiaging, Weight Management, Digestive Health, Sports and Energy, Others) Analysis and Forecasts to 2017-2027

Date : Jan 2021

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Report ID : 21

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Category : Nutraceuticals

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Report Format:  PDF EXCEL PPT WORD

Malaysia Nutraceuticals Market Report Overview:

The people of Malaysia are concerned about the health and their dietary habits, which is a positive factor for the growth of the nutraceuticals market in Malaysia. In Malaysia, ethnic diversity and the practices of traditional medicines have proven instrumental in the development of nutraceuticals. The country has some of the oldest rainforests and more than 2,000 plants with potential medicinal value, which gives a glimpse of the sheer abundance of raw materials in the country that provides Malaysia a competitive edge over the global players in nutraceuticals markets.

The players in the pharmaceutical industry in Malaysia have increased their focus on the development of herbal products such as health supplements, traditional medicines, and nutraceuticals. In 2019, according to the National Pharmaceutical Regulatory Agency (NPRA), approximately 12,139 units which is more than 50% of the products registered were natural products.

Malaysia Nutraceuticals Market

The Malaysia Nutraceuticals Market is projected to reach USD 1382.3 million by 2027 from 794.4 million in 2020. The coronavirus has impacted the overall nutraceuticals market and the impact was also seen in the Malaysian markets. The outbreak of COVID-19 led various ASEAN countries to recognize the benefits of health supplements for maintaining public health. Malaysia was among the four ASEAN countries to officially recognize health supplements in the essential products category and the related supply chain and workforce were also identified as essential infrastructure.

The changing lifestyle of the people of Malaysia has increased in various lifestyle diseases, leading the people towards a more health-conscious diet and other preventive measures. The increasing exposure to technological devices has aggravated the demand for eye health supplements along with weight management nutritional supplements with the rising overweight population. In 2017, the sales of dietary supplements in Malaysia registered a growth of 7% driven by the continuous new product launches in different categories.

The report also analyses the value chain of Malaysia Nutraceuticals Market. General Practitioners usually prescribe generic medicines as their fees are low. Pharmacies purchase 70% and 80% of their products from independent distributors like Zuellig and DKSH, the rest 20% to 30% are purchased directly from local manufacturers and importers.  Pharmaceutical companies also select pharmacies also on account of the sales leadership skills of chemists and offer higher discounts. Special prices are offered to pharmacists who can exercise influence over consumers. Private hospitals are major purchasers of originator medicines as compared to generics.

The report also analyses the new opportunities for existing Nutraceutical players in Malaysia Nutraceuticals Market. Consumer awareness of the importance of bone and joint health is growing, not only among the aging population but also among the younger population who are focusing on prevention. Hence, many players are focussing on developing such products. In order to meet the consumer demands manufacturers are focussing upon new innovations to grab more customer attention. There is a rising demand for an herbal supplement among Malaysian consumers is generating new opportunities for Malaysia Nutraceuticals Market.

The report also analyses the competitive scenario of Malaysia Nutraceuticals Market in detail. The number of pharmaceutical manufacturers in Malaysia is small. Market concentration among the manufacturers is considerably low and prices are highly competitive. Local pharma firms in Malaysia majorly produce generic medicines. The pharmaceutical wholesale sector of Malaysia is highly concentrated. The top 3 companies accounted for 77% of the market share. Online shopping trend is picking up in Malaysia dietary supplements market. However, 93 percent of the health supplements are sold through offline channels.

The research report analyses the ecosystem of Malaysia Nutraceuticals Market to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.

By Type of Nutraceutical

  • Functional Food,
  • Functional Beverages
  • Dietary Supplements
  • Personal Care
  • Pharmaceuticals
  • Others

By Application

  • General Wellness
  • Beauty and Antiaging
  • Weight Management
  • Digestive Health
  • Sports and Energy
  • Others

The unique insights provided by this report also includes the following:

  1. In-depth value chain analysis
  2. Opportunity mapping
  3. Sector snapshot
  4. Technology landscape
  5. Regulatory scenario
  6. Patent trends
  7. Market trends
  8. Covid-19 impact analysis
  9. Raw material supply analysis
  10. Pricing trends
  11. Sustainability trends and environmental concerns
  12. Critical Success Factors
  13. Competitive Landscape
  14. Customer preferences

Malaysia Nutraceuticals Market Dynamics (like Trends, Drivers, Restraints Opportunities and Challenges):

Sr. No. Health and Wellness Trends in Malaysia driving the Malaysia Nutraceuticals Market Impact
1 There is a rising trend of consumption of vitamins and minerals among the consumers in Malaysia. For instance, there was a rapid rise in the demand for vitamin E over the years High
2 There is an increase in the healthcare cost resulting to the rise in the demand for dietary supplements among the consumers High
3 The steady rise in the geriatric population in Malaysia Medium
4 Senior citizens and women preferring good digestive health Medium
5 Lower research and development and regulatory burdens for ‘pharmaceuticals’ in their ‘nutraceutical’ segment when compared to their prescription and OTC medications  High
6 Scientifically validated health benefits of functional foods/supplements aimed at reducing the risk of chronic diseases CVD / diabetes, cognitive health Medium

 

Emerging Opportunities in the Malaysia Nutraceuticals Market Impact

Herbal Products

  • Natural and organic supplements are gaining popularity in Malaysia due to growing consumers perception of side effects associated with artificial ingredients
  • Some of the popular natural ingredients include fish oils, CoQ10 (Coenzyme Q10), Gingko, collagen supplements, and detoxification preparations
  • Natural slimming and fat burning, and skin and hair strengthening food supplements are also in high demand
  • Government of Malaysia has also introduced several policies and strategies to support the national herbal industry.

Halal Products

  • In Malaysia, the Ministry of International Trade & Industry (MITI) develops halal pharmaceutical products & services with the objective of making the country  a hub  for halal Nutraceuticals
  •  MITI’s initiatives include adopting a standardized logo, streamlining procedures & fees, providing special incentives, and intensifying promotional activities

Covid 19 Impact

  • Outbreak of Covid -19 has driven many countries in ASEAN region to recognize the importance of Nutraceuticals
  • Countries such as Malaysia, Indonesia ,Vietnam and Philippines have recognized nutraceuticals as essential health products
  • Consumers are increasingly consuming nutraceuticals to defend themselves against Covid 19

Palm-based Phytonutrients

  • Malaysia is an important producer of palm oil in the world
  • There exist strong opportunities for manufacturing nutraceuticals with palm-based phytonutrients  such as Carotenes, Tocopherols, Tocotrienols, Coenzyme Q10, and oil palm phenolics

Recent Developments:

  • In July 2021, Ingredients by Nature (IBN), a nutraceutical ingredients supplier and manufacturer, has announced the acquisition of the Sytrinol brand, including all of its marketing assets. This acquisition will help the company in expanding its citrus ingredients portfolio.
  • In May 2021, EverGrain, LLC, a company that manufactures ingredients from upcycled barley, announced its collaboration with Bright Future Foods. This partnership will help the companies to create a supply chain for developing innovative food products with a focus on sustainability challenges.

Company Profiles and Competitive Intelligence Covered in Malaysia Nutraceuticals Market Report are:

  1. Bio-Nutricia Holding Sdn Bhd 
  2. BiO-LiFE Marketing Sdn Bhd
  3. Holista Colltech
  4. HerbalCeutical Sdn Bhd
  5. Sky Nutraceuticals Sdn Bhd
  6. Total Image Regional (M) Sdn Bhd
  7. Blackmores Ltd
  8. Vita LifeSciences Sdn. Bhd.
  9. Live-well Nutraceuticals
  10. UHS Essential Health (Malaysia) Sdn. Bhd.
  11. Pharmaniaga Manufacturing Bhd 
  12. Hovid Berhad
  13. Duopharma Biotech Berhad
  14. Kotra Pharma (M) Sdn Bhd 

Frequently Asked Questions (FAQs)

How big is the Malaysia Nutraceuticals Market?

The Malaysia Nutraceuticals Market was estimated at USD 794.4 million in 2020, and it is projected to reach a value of USD 1,382.3 million by 2027.

What is the estimated market growth rate of Malaysia Nutraceuticals Industry?

The Malaysia Nutraceuticals Industry is estimated to grow at a compound annual growth rate (CAGR) of 8.8% during 2017-2027.

Who are the key players in the Malaysia Nutraceuticals Industry?

A few key players in the Malaysia Nutraceuticals Market includes Bio-Nutricia Holding Sdn Bhd , Holista Colltech, BiO-LiFE Marketing Sdn Bhd, HerbalCeutical Sdn Bhd, Total Image Regional (M) Sdn Bhd, Sky Nutraceuticals Sdn Bhd, Blackmores Ltd, Vita LifeSciences Sdn. Bhd., UHS Essential Health (Malaysia) Sdn. Bhd. and Live-well Nutraceuticals among others.

Author Credentials

Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.

  1. INTRODUCTION
    1. Product Outline
    2. What are Nutraceuticals
    3. Different types of Nutraceuticals
    4. Sector Snapshot : Nutraceuticals and Dietary Supplements
    5. Nutraceuticals  comparison with other alternatives
    6. Nutraceuticals  and their advantages
    7. Covid -19 Impact
    8. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    9. Technology Overview
    10. R&D trends
    11. Government support in R&D
    12. Patent Analysis
  2. Technology and Regulatory Landscape for Nutraceuticals  
    1. Regulations and Standards
  3. Nutraceuticals Market in Malaysia
    1. Market overview of Nutraceuticals in Malaysia
    2. Market Size and CAGR trend
    3. Drivers, Restraints, Opportunities and Challenges
    4. Impact of Covid-19
    5. Major market segments of Nutraceuticals in Malaysia
    6. Imports of Nutraceuticals in Malaysia
    7. Major Countries for Malaysian Nutraceutical Imports
    8. Health and Wellness trends in Malaysia
    9. Rising consumer health and wellness awareness and fitness spending in Malaysia
    10. Statistics of GDP, Population Growth and Ageing
    11. Statistics on Causes of Death in Malaysia
  4. Entry Barriers and Critical Success Factors for Malaysia Nutraceuticals Market
    1. Entry Barriers
      1. Malaysian Dietary Guidelines
      2. Guidelines for Entry into Malaysian Supplements Market
      3. The Control of Drugs and Cosmetics Regulations 1984
      4. Classification of Food-Drug Interface Products
      5. Registration Criteria
    2. Critical Success Factors
  5.  Value Chain Analysis of Malaysia Nutraceuticals Market
    1. Market Structure of pharmaceuticals in Malaysia and role of value chain participants
    2. Preferred purchase channels for dietary supplements or nutraceuticals in Malaysia
    3. Ratio of pharmacists to population
    4. Distribution of Pharmacies across different regions
  6. Malaysia Nutraceuticals Market by Type
    1. Functional Food
    2. Functional Beverages
    3. Dietary Supplements
    4. Personal Care
    5. Pharmaceuticals
    6. Others
  7. Malaysia Nutraceuticals Market by Application
    1. General Wellness
    2. Beauty and Antiaging
    3. Weight Management
    4. Digestive Health
    5. Sports and Energy
    6. Others
  8. Customer Preferences in Malaysia Nutraceuticals Market
    1. Types of Nutraceutical Products Popular in Malaysia Market
    2. Customer preferences
  9. Competitive Scenario in Malaysia Nutraceuticals Market
    1. Competitive Scenario
    2. Major Players / Category Wise Players
    3. Domestic Players and Foreign Players
    4. Competitive positioning and strategies of market players
    5. Competitive Strategies news and analysis
    6. Marketing and Advertising Strategies of Existing Players
    7. Leading eCommerce platforms
  10. Company Profiles
    1. Bio-Nutricia Holding Sdn Bhd 
    2. BiO-LiFE Marketing Sdn Bhd
    3. Holista Colltech
    4. HerbalCeutical Sdn Bhd
    5. Sky Nutraceuticals Sdn Bhd
    6. Total Image Regional (M) Sdn Bhd
    7. Blackmores Ltd
    8. Vita LifeSciences Sdn. Bhd.
    9. Live-well Nutraceuticals
    10. UHS Essential Health (Malaysia) Sdn. Bhd.
    11. Pharmaniaga Manufacturing Bhd 
    12. Hovid Berhad
    13. Duopharma Biotech Berhad
    14. Kotra Pharma (M) Sdn Bhd 
    15. KCK Pharmaceutical Industries Sdn Bhd
    16. Pharmaniaga Berhad
    17. APEX Healthcare Berhad
    18. Y.S.P. Southeast Asia Holding Berhad
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