The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJun 2017
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In Asia Pacific, trends around healthy lifestyles and prevention among older consumers trying to avoid expensive healthcare costs and extend healthy lifespans are generating growth opportunities for VDS firms, while growth is concentrated mainly through two channels: direct selling and online retail. The region shows increasing opportunities for herbal/traditional dietary supplements due to its history of traditional medicine, with China and Japan leading the region.
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As consumers and public health agencies aim to reduce and prevent chronic diseases and increase healthy lifespans, demand for supplements as a tool to prevent medical conditions and stay healthy has increased in tandem with the ageing population in Asia Pacific, especially in China and Japan.
Across the three largest Asia Pacific markets, China, Japan, and South Korea, dietary supplements is the leading category within the VDS industry. In Japan, tonics is on a steady decline while demand for dietary supplements is rising. In China, dietary supplements remained the largest category within VDS, and in South Korea, consumers are increasingly buying pills and tablets to address health issues rather than relying on health drinks and tonics alone, which is boosting dietary supplements sales.
Herbal/traditional dietary supplements: Opportunity for China
Asia Pacific generated almost 60% of global herbal/traditional dietary supplements sales and China dominated with 43% retail value share in the region. Asia Pacific’s long history of traditional medicine in the forms of Ayurveda, Traditional Chinese Medicine (TCM), Kampo, Unani, Traditional Thai Medicine (TTM), and Hangul/Hanja explains the dominance of this region. The market leaders in China are New Era Health Industry and Tiens Group.
Direct selling continues to be the leading channel in Asia Pacific despite a fast growing online retailing market. While Amway is the leading direct seller, it has lost share to Hong Kong-based Lee Kum Kee, which almost doubled its company value share in the region over 2011-2016.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.