Singapore Nutritional Supplements Market Report 2022 to 2030

Singapore Nutritional Supplements Market Analysis

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By 2030, it is anticipated that the Singapore Nutrition and Supplements market will reach a value of $0.8 Bn from $0.5 Bn in 2022, growing at a CAGR of 6.9% during 2022-2030. The market is primarily dominated by local players such as Eu Yan Sang International, Bio-Life Science Group, and Blackmores. The market for nutrition and supplements in Singapore is primarily driven by government initiatives and increasing consumer awareness of health and lifestyle. The Singapore nutrition and supplements market in Singapore is segmented by Type, Product, application, and Distribution Channel.

ID: IN10SGON002 CATEGORY: OTC & Nutraceuticals GEOGRAPHY: Singapore AUTHOR: Dr. Vishwa Modhia

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Singapore Nutrition and Supplements Market Analysis Summary

By 2030, it is anticipated that the Singapore nutrition and supplements market will reach a value of $0.8 Bn from $0.5 Bn in 2022, growing at a CAGR of 6.9% during 2022-30.

In Singapore, there is a growing trend toward environmental consciousness among consumers, who are looking for sustainable and eco-friendly products. In the case of nutritional and dietary supplements, customers seek out goods that are sourced and produced in a sustainable manner. The purpose of the Claims Guidelines is to offer guidance on the types of valid health claims that may be made in traditional medicines and dietary supplements in Singapore as well as the supporting documentation that must be provided. In 2019, standard supplements held a 59% market share, compared to 41% for herbal/traditional supplements.

Market Dynamics

Market Growth Drivers

Singaporeans are becoming more and more conscious of the value of healthy eating and the potential benefits of dietary supplements. This is increasing the demand in the area for these products. In Singapore, spending on nutrition and dietary supplements has been rising in recent years due to factors like rising disposable income, rising health awareness, and a growing emphasis on wellness.

Market Restraints

Despite the rising demand for dietary supplements and nutrition in Singapore, some populations still have little knowledge of these products. This may reduce the market's growth potential and make it more difficult for businesses to connect with and engage with customers.

The Health Sciences Authority (HSA) in Singapore regulates the sale of nutritional and dietary supplements, and businesses that wish to market their goods must follow stringent labeling and advertising guidelines. As a result, consumers may only be able to choose from a smaller variety of products, and businesses in this market may find it more expensive to operate.

Competitive Landscape

Key Players

Eu Yan Sang International (SGP)
Bio-Life Science Group (SGP)
Blackmores (SGP)
Best World International (SGP)
Nestle
GNC
Amway
Vitacare
GlaxoSmithKline
Nestlé

Healthcare Policies and Reimbursement Scenarios

The Singapore Food Agency (SFA) is responsible for overseeing food supplement regulations in Singapore. The Sale of Food Act and the Singapore food laws govern the import and sale of nutrition and supplement products in Singapore. Importers are responsible for making sure their goods adhere to SFA guidelines for labelling and Singaporean food laws. Health Sciences Authority (HSA) regulations are in place to regulate medications and other health-related products.

The Central Provident Fund (CPF), an obligatory savings program for Singaporeans and Permanent Residents, serves as the main source of funding for the healthcare reimbursement system. Reimbursement varies depending on the individual product and the particular health condition it is used to treat for certain healthcare products, such as nutrition and dietary supplements. Some products might qualify for Medisave reimbursement, while others might not.

1. Executive Summary
1.1 Product Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Government Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel and Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation

6. Methodology and Scope

Singapore Nutritional Supplements Market Segmentation

The Nutritional Supplements Market is segmented as mentioned below:

By Product (Revenue, USD Billion):

Sports Nutrition
- Sports Food
- Sports Drinks
- Sports Supplements

Fat Burners
- Green Tea
- Fiber
- Protein
- Green Coffee
- Others (Turmeric, Ginseng, Cranberry, Garcinia Cambogia)?

Dietary Supplements
- Vitamins
- Minerals
- Enzymes
- Amino Acids
- Conjugated Linoleic Acids

Functional Foods
- Probiotics
- Omega-3
- Others

By Consumer Group (Revenue, USD Billion):

Infant
Children
Adults
Pregnant
Geriatric

By Formulation (Revenue, USD Billion):

Tablets
Capsules
Powder
Softgels
Liquid
Others

By Delivery Channel (Revenue, USD Billion):

Chemists/Pharmacists
Direct-to-Consumer Sales
E-commerce

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.