Thailand Nutritional Supplements Market Analysis

Thailand Nutritional Supplements Market Analysis


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By 2030, it is anticipated that the Thailand nutrition and supplements market will reach a value of $0.8 Bn from $0.5 Bn in 2022, growing at a CAGR of 6.64% during 2022-2030. The market is primarily dominated by local players such as Bio Rich Group, BBI Healthcare, and Win Health Products. The market for nutrition and supplements in Thailand is primarily driven by an inclination towards natural products and increasing consumer awareness for health and lifestyle. The Thailand nutrition and supplements market in Thailand is segmented by Type, Product, application, and distribution channel.

ID: IN10THON002 CATEGORY: OTC & Nutraceuticals GEOGRAPHY: Thailand AUTHOR: Dr. Vishwa Modhia

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Thailand Nutrition and Supplements Market Analysis Summary

By 2030, it is anticipated that the Thailand nutrition and supplements market will reach a value of $0.8 Bn from $0.5 Bn in 2022, growing at a CAGR of 6.64% during 2022-30.

In Thailand, 58% of people used dietary supplements as of 2022. 66% of Thai citizens report using dietary supplements to boost and fortify their immune systems. Working with local agents or distributors is highly advised for foreign manufacturers seeking to enter the Thai market. Local agents offer quick access to a developed marketing network and in-depth regulatory knowledge.

To qualify as a nutrition supplement, common supplements must maintain nutrient levels between 15% and 100% of the Thai Recommended Daily Intake (RDI). The World Health Organization (WHO) reported that the total cost of healthcare in Thailand in 2019 was anticipated to be close to 6.2% of the GDP. In Thailand, there are many ways to pay for healthcare, including out-of-pocket expenses, government funding through the Universal Coverage Scheme (UCS), and private insurance.

Thailand Nutritional Supplements Market Report 2022 to 2030

Market Dynamics

Market Growth Drivers Analysis

Customers are looking for natural and organic supplements that are free of hazardous chemicals as they grow more concerned about the ingredients in their food. The demand for goods that can support active and sedentary lifestyles, like energy supplements and weight management products, is rising as cities expand and more people move into urban areas.

Market Restraints

In 2019, private insurance and public funding accounted for roughly 20% and 19%, respectively, of all healthcare spending, with out-of-pocket spending continuing to be the largest source of funding. This might discourage some customers from purchasing nutrition and supplement products.

Competitive Landscape

Key Players

  • Win Health Products (THA)
  • BBI Healthcare (THA)
  • Bio-Life Science (THA)
  • HACCP (THA)
  • Bio Rich Group (THA)
  • Healthcare Plus (THA)
  • Life Care (THA)
  • Durian Industry (THA)
  • GNC
  • GlaxoSmithKline
  • Nestlé

Healthcare Policies and Reimbursement Scenarios

The Thai Food and Drug Administration (Thai FDA) of the Ministry of Public Health (MOPH) is responsible for regulating nutrition and supplement products, which provides the government and its officials with the authority to control domestic production, imports, and exports of food products for sale as well as the criteria and penalties for food businesses in Thailand.

All Thai citizens have access to a basic level of healthcare through Thailand's universal healthcare system. Unless a doctor prescribes them for a specific medical condition, nutritional supplements, and vitamins are typically not covered by the Universal Coverage Scheme (UCS) or private insurance. In this situation, the type of product and the person's insurance coverage will determine how much will be reimbursed.

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

Thailand 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.

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Last updated on: 27 June 2024
Updated by: Dhruv Joshi

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