Report Overview

Singapore Nutritional Supplements Market - Industry Trends & Forecast Report, 2030

Singapore Nutritional Supplements Market size was estimated to be worth USD 151.20 million in 2023. During the forecast period between 2024 and 2030, Singapore Nutritional Supplements Market size is projected to grow at a CAGR of 3.72%, reaching a value of USD 193.47 million by 2030. Major growth factors for Singapore Nutritional Supplements Market include changing lifestyles and increasing prevalence of non-communicable diseases. Furthermore, the COVID-19 outbreak also positively impacted the adoption of nutritional supplements as health consciousness among consumers spiked, which proliferated the growth of Singapore nutritional supplements market.

Nutritional Supplements – Overview

Nutritional supplements, often known as food supplements or dietary supplements, are products made to provide nutrients that may be lacking in the diet. Nutritional supplements can positively affect health if taken properly and under a doctor's supervision. Typically, they are consumed as pills, capsules, powders, or liquids. Nutritional supplements are not prescription drugs that can be used to treat illnesses or other conditions. These are full of nutrients that can be obtained from synthetic sources or plant sources.

Singapore Nutritional Supplements Market

Growth Drivers

Increasing Awareness about Health and Awareness

The increasing incidence of various lifestyle diseases and zoonotic illnesses is making consumers more health-conscious and inclined to take preventative measures, which is fueling the demand for Nutritional Supplements in Singapore Market. These nutritional supplements help consumers get the essential nutrients, such as calcium and vitamin D, that they require daily to maintain healthy, active lifestyles. The Singapore nutritional supplements market is witnessing a substantial rise in the demand for premium products. The high purchasing power of the consumers and their inclination towards science-backed, high-quality products contributes to the growth of Singapore Nutritional Supplements Market.

Challenges

Severe Side Effects of Overconsumption

Nutritional supplements favor good health. However, overconsumption, or in some cases, addiction to these supplements, may prove counterproductive or even lethal. High doses of vitamin A, for instance, can cause headaches, reduce bone strength, and can cause birth defects. As a result, consumers are adopting healthier lifestyles or consuming organic food products to reduce their reliance on nutritional supplements, which can negatively impact the growth of Singapore Nutritional Supplements Market.

Impact of Escalating Geopolitical Tensions on Singapore Nutritional Supplements Market

Intensifying and further spreading geopolitical tensions could adversely affect the growth of Singapore Nutritional Supplements Market. These conflicts and tensions between countries lead to supply chain disruption, which imposes challenges to sourcing raw materials for nutritional supplements, resulting in significant demand and supply gaps and an increase in these products. Another major impact caused by geopolitical tensions is trade barriers or changes in international trade policies, causing changes in regulations regarding labeling requirements or safety standards. However, geopolitical tensions could present significant growth opportunities for local manufacturers as the supply of nutritional supplements from foreign brands is affected.

Singapore Nutritional Supplements Market

Segmental Coverage

Singapore Nutritional Supplements Market – By Form

Based on form, Singapore Nutritional Supplements Market is segmented into powder, tablets, capsules, liquid, soft gel, and others. The tablets and capsules segments account for the largest market share. Supplements in this form offer ease of consumption, convenience, and longer shelf life. However, the powder form also covers a substantial market share. Powered supplements are recommended to kids and older people as they can easily be mixed with liquids, such as water, milk, and juice, which makes them convenient to consume.

Singapore Nutritional Supplements Market – By Product Type

By product type, Singapore Nutritional Supplements Market is segmented into sports nutrition, dietary supplements, fat burners, functional foods, and others. The dietary supplements segment holds the largest share of Singapore Nutritional Supplements Market. Dietary supplements are consumed daily to improve and maintain overall health. These supplements provide various essential nutrients, such as calcium, vitamins, folic acid, omega-3, and fatty acids, that reduce the risk of some health conditions. The functional food segment is also expected to grow at a high rate over the forecast period.

Singapore Nutritional Supplements Market – By Age Group

Based on age group, Singapore Nutritional Supplements Market is segmented into kids, adults, and geriatric. The adult segment accounts for the highest market share. The high labor force participation rate and rising prevalence of lifestyle diseases among working adults are boosting the adoption of nutritional supplements in the country. The prevalence of various lifestyle diseases, such as high cholesterol (hyperlipidemia), stroke, high blood pressure (hypertension), and diabetes, is increasing at a high rate. This has resulted in increased health consciousness among Singaporeans, leading to growing demand for nutritional supplements in the country.

Singapore Nutritional Supplements Market – By Distribution Channel

On the basis of distribution channel, Singapore Nutritional Supplements Market is segmented into supermarkets/hypermarkets, specialty stores, pharmacies, e-commerce, and others. Pharmacies lead Singapore nutritional supplements market and are the most preferred distribution channel for buying supplements. The high number of licensed pharmacies in Singapore, including both private and public, improves accessibility to supplements in the country. Many pharmacies operate round the clock and provide a wide range of products, boosting customer reach and contributing to its market growth. However, the e-commerce segment is projected to register the highest growth rate during the forecast period.

Competitive Landscape

Major companies in the intensely competitive Singapore Nutritional Supplements Market include Eu Yan Sang International (SGP), Bio-Life Science Group (SGP), Blackmores (SGP), Best World International (SGP), Nestlé, GNC, Amway, Vitacare, GlaxoSmithKline, Abbott, Herbalife, Bayer AG, Glanbia, Pfizer, and Otsuka Pharmaceutical. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In April 2024 – Borsch Med Pte Ltd (BM), a health and nutrition company based in Singapore, became the authorized distributor for Zeria Pharmaceutical’s line of chondroitin-based supplements that promote an active lifestyle in Singapore.

Scope of the Report

By Form

• Powder

• Tablets

• Capsules

• Liquid

• Soft Gel

• Others

By Product Type

• Sports Nutrition

• Dietary Supplements

• Fat Burner

• Functional Food

• Others

By Age Group

• Kids

• Adults

• Geriatric

By Distribution Channel

• Supermarkets/Hypermarkets

• Specialty Stores

• Pharmacies

• E-commerce

• Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Singapore Nutritional Supplements Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Health-Conscious Population
         2. Aging Demographics
         3. Increased Awareness of Nutritional Deficiencies
         4. Government Initiatives Promoting Healthy Living
      2. Restraints
         1. Strict Regulatory Environment
         2. High Cost of Living
         3. Presence of Counterfeit Products
      3. Opportunities
         1. Growth of E-commerce Platforms
         2. Demand for Personalized Nutrition Solutions
         3. Integration of Supplements into Functional Foods and Beverages
      4. Challenges
         1. Limited Domestic Production Capabilities
         2. Competition from Regional Markets
         3. Rapidly Changing Consumer Preferences
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Singapore Nutritional Supplements Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Form
         1. Powder
         2. Tablets
         3. Capsules
         4. Liquid
         5. Soft Gel
         6. Others
      2. By Product Type
         1. Sports Nutrition
         2. Dietary Supplements
         3. Fat Burner
         4. Functional Food
         5. Others
      3. By Age Group
         1. Kids
         2. Adults
         3. Geriatric
      4. By Distribution Channel
         1. Supermarkets/Hypermarkets
         2. Specialty Stores
         3. Pharmacies
         4. E-commerce
         5. Others
5. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Singapore Nutritional Supplements Company Market Share Analysis, 2023
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of Escalating Geopolitical Tensions on Singapore Nutritional Supplements Market
7. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
   1. Eu Yan Sang International (SGP)
   2. Bio-Life Science Group (SGP)
   3. Blackmores (SGP)
   4. Best World International (SGP)
   5. Nestlé
   6. GNC
   7. Amway
   8. Vitacare
   9. GlaxoSmithKline
   10. Abbott
   11. Herbalife
   12. Bayer AG
   13. Glanbia
   14. Pfizer
   15. Otsuka Pharmaceutical
   16. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumptions & Limitations
10. *Financial information of non-listed companies can be provided as per availability.
11. **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1 Singapore Nutritional Supplements Segmentation

Figure 2 Singapore Nutritional Supplements Market Value Chain Analysis

Figure 3 Company Market Share Analysis, 2023

Figure 4 Singapore Nutritional Supplements Market Size, By Value (USD Million), 2019–2030

Figure 5 Singapore Nutritional Supplements Market Share, By Form, By Value, 2019–2030

Figure 6 Singapore Nutritional Supplements Market Share, By Product Type, By Value, 2019–2030

Figure 7 Singapore Nutritional Supplements Market Share, By Age Group, By Value, 2019–2030

Figure 8 Singapore Nutritional Supplements Market Share, By Distribution Channel, By Value, 2019–2030

List of Tables

Table 1 Singapore Nutritional Supplements Market Size, By Value (USD Million), 2019–2030

Table 2 Singapore Nutritional Supplements Market Size, By Form, By Value, 2019–2030

Table 3 Singapore Nutritional Supplements Market Size, By Product Type, By Value, 2019–2030

Table 4 Singapore Nutritional Supplements Market Size, By Age Group, By Value, 2019–2030

Table 5 Singapore Nutritional Supplements Market Size, By Distribution Channel, By Value, 2019–2030

Table 6        Eu Yan Sang International (SGP) Company Overview

Table 7        Eu Yan Sang International (SGP) Financial Overview

Table 8        Bio-Life Science Group (SGP) Company Overview

Table 9        Bio-Life Science Group (SGP) Financial Overview

Table 10      Blackmores (SGP) Company Overview

Table 11      Blackmores (SGP) Financial Overview

Table 12      Best World International (SGP) Company Overview

Table 13      Best World International (SGP) Financial Overview

Table 14      Nestlé Company Overview

Table 15      Nestlé Financial Overview

Table 16      GNC Company Overview

Table 17      GNC Financial Overview

Table 18      Amway Company Overview

Table 19      Amway Financial Overview

Table 20      Vitacare Company Overview

Table 21      Vitacare Financial Overview

Table 22      GlaxoSmithKline Company Overview

Table 23      GlaxoSmithKline Financial Overview

Table 24      Abbott Company Overview

Table 25      Abbott Financial Overview

Table 26      Herbalife Company Overview

Table 27      Herbalife Financial Overview

Table 28      Bayer AG Company Overview

Table 29      Bayer AG Financial Overview

Table 30      Glanbia Company Overview

Table 31      Glanbia Financial Overview

Table 32      Pfizer Company Overview

Table 33      Pfizer Financial Overview

Table 34      Otsuka Pharmaceutical Company Overview

Table 35      Otsuka Pharmaceutical Financial Overview