Food supplements, often known as dietary supplements or nutritional supplements, provide nutrients that may be lacking in the diet. With the correct amount and under a doctor's supervision, nutritional supplements can improve health. They are often consumed in liquid, powder, tablet, or capsule form. There is no prescription drug used to treat illnesses or other conditions that supplements can help with. Both synthetic and plant sources of the many nutrients they contain are available.
Singapore Nutritional Supplements Market Driving Factors and Challenges
Drivers: The growing frequency of zoonotic illnesses and other lifestyle problems has made individuals more health concerned and driven to take preventative action, which has led to an increase in the market for nutritional supplements in Singapore. With the help of these nutritional supplements, customers may get the essential nutrients—like calcium and vitamin D—they require daily to maintain active, healthy lifestyles. The Singaporean nutritional supplement sector is seeing a sharp rise in demand for luxury goods.
Challenges: The growth and development of the Singaporean nutritional supplement market are impacted by a number of obstacles. Regulatory scrutiny and compliance are among the main challenges. Both domestic and foreign businesses may encounter difficulties as a result of the Singapore Health Sciences Authority's (HSA) stringent rules governing the safety, labeling, and promotion of supplements. Intense market competition is another issue, as many domestic and international companies compete for market share, making it hard for smaller firms to stand out. The market is also susceptible to worldwide supply chain interruptions, like those that occurred during the COVID-19 epidemic, because of its reliance on imported raw materials, which can result in shortages of products and higher prices.
Impact of COVID-19 on Singapore Nutritional Supplements Market
The COVID-19 pandemic had a significant impact on Singapore's nutritional supplement industry, bringing with it both opportunities and difficulties. Due to increased knowledge of immunity and health following the onset of the pandemic, demand for vitamins, minerals, and immune-boosting supplements surged. The growth of products like zinc, vitamin C, and vitamin D—which were aggressively promoted as immune-boosting—was fueled by consumers' growing focus on maintaining their health. Global restrictions and lockdowns, however, also led to market supply chain disruptions, which led to short-term shortages and delays in product availability.
Singapore Nutritional Supplements Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players are; Abbott, Amway, Bayer AG, Best World International (SGP), Blackmores (SGP), Bio-Life Science Group (SGP), Eu Yan Sang International (SGP), GNC, GlaxoSmithKline, Glanbia, Others.
Singapore Nutritional Supplements Market Segmentation:
By Form: Based on the Form, Singapore Nutritional Supplements Market is segmented as; Powder, Tablets, Capsules, Liquid, Soft Gel, Others.
By Product Type: Based on the Industry/Employer Type, Singapore Nutritional Supplements Market is segmented as; Sports Nutrition, Dietary Supplements, Fat Burner, Functional Food, Others.
By Age Group: Based on the Age Group, Singapore Nutritional Supplements Market is segmented as; Kids, Adults, Geriatric.
By Distribution Channel: Based on the Distribution Channel, Singapore Nutritional Supplements Market is segmented as; Supermarkets/Hypermarkets, Specialty Stores, Pharmacies, E-commerce, Others.
By Region: This research also includes data for Eastern region, Western region, Southern region, Northern region.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.