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.
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.
The unique insights provided by this report also includes the following:
| 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 |
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Emerging Opportunities in the Malaysia Nutraceuticals Market Impact |
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Herbal Products |
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Halal Products |
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Covid 19 Impact |
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Palm-based Phytonutrients |
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Recent Developments:
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.
Research Methodology
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