Market Overview:
The Japan dietary supplements market size was valued at USD 2.93 billion in 2023and is expected to be worth USD 3.09 billion in 2024. The market is projected to reach USD 5.20 billion in 2032, recording a CAGR of 6.72% during the forecast period.
Dietary supplements refer to products that contain vitamins, minerals, herbs, and amino acids to help consumers fulfill their daily nutritional needs. They can be consumed in several forms, such as pills, powders, tablets, and drinks to help them tackle a wide range of nutritional deficiencies. Increasing awareness regarding the importance of having optimum mental and physical health will boost the product’s sales.
LIST OF KEY COMPANIES PROFILED IN THE REPORT
- Otsuka Pharmaceutical Co., Ltd. (Japan)
- FANCL Corporation (Japan)
- Ajinomoto Co., Inc. (Japan)
- Meiji Holdings Co., Ltd. (Japan)
- Groupe Danone (Japan)
- Nestle Health Science (Japan)
- House Foods Group Inc., (Japan)
- ORIHIRO Co., Ltd. (Japan)
- Fine Japan (Japan)
- Kowa Company, Ltd (Japan)
Segmentation:
Increasing Incidence of Vitamin Deficiencies in Pregnant Women Fuels Demand for Vitamin Supplements
Based on type, the market is segmented into vitamins, minerals, enzymes, fatty acids, proteins, and others. The vitamin supplements segment is dominating the market as an increasing number of pregnant women across Japan are suffering from various vitamin deficiencies, such as vitamins B12 and D, folate, magnesium, and calcium.
Decreased Production Complications and Ability to Hide Bad Odor Bolsters Sales of Tablet-based Dietary Supplements
Based on form, the market is divided into tablets, capsules, liquid, powder, and others. The tablets segment is dominating the Japan dietary supplements market share as tablet-based nutraceuticals do not cause major production challenges and can easily hide bad odor and taste.
Increasing Focus On Health & Wellbeing Among Elderly Bolsters Consumption of General Health Dietary Supplements
Based on application, the market is classified into energy & weight management, bone & joint health, general health, immunity, brain & mental health, skin/hair/nails, cardiac health, healthy aging, and others. The general health segment dominates the market as many elderly people across Japan are focusing on improving their health and wellbeing by adopting a healthier lifestyle.
Rising Incidence of Nutritional Deficiencies Among Adults Boosts Product Demand
Based on end-user, the market has been segmented into children, adults, pregnant women, and geriatrics. The adult segment is holding the largest market share due to the growing prevalence of nutritional deficiencies among this segment of the population, prompting them to adopt a healthier lifestyle.
Increasing Demand for Personalized Supplements Fuels Product Sales from Pharmacies
Based on distribution channel, the market is segmented into supermarkets/hypermarkets, pharmacies, online stores, and others. The pharmacies segment has captured the biggest market share due to the growing demand for customized supplements. Sale of personalized nutraceuticals is increasing the customer footfall at these stores.
Source: https://www.fortunebusinessinsights.com/japan-dietary-supplements-market-110413
Report Coverage:
The report has conducted a detailed study of the market and highlighted several critical areas, such as leading end users, forms, distribution channels, applications, and prominent market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.
Drivers and Restraints:
Rising Adoption of Cutting-Edge Technologies to Develop Personalized Products to Fuel Market Growth
An increasing number of market players are using a wide range of advanced technologies, such as Artificial Intelligence (AI), Internet of Things (IoT), and 3D mapping to gather data about their customers’ nutritional needs. With the help of these technologies, they can develop personalized dietary supplements which will help their customers meet their daily nutritional requirements.
However, the Government of Japan has implemented a wide range of strict rules and laws, which can create various challenges in the Japan dietary supplements market growth.
Competitive Landscape:
Leading Companies to Focus On New Product Launches to Remain Dominant
The competitive landscape of the market is moderately consolidated due to the vast presence of several companies. These market players are increasing their research and development efforts to launch new products that cater to the unique nutritional needs of their clients. Such initiatives will help them differentiate themselves from their competitors and maintain their dominance in the market.
Notable Industry Development:
March 2024: Nature Made, a subsidiary of Otsuka Pharmaceutical Co., Ltd., introduced a series of Nature Made Zero Sugar‡ Gummies. These gummies include Nature Made Zero Sugar‡ Vitamin C Gummies, Nature Made Zero Sugar‡ B-12 Gummies, Nature Made Zero Sugar‡ Vitamin D3 Gummies, Nature Made Zero Sugar‡ Melatonin Gummies, and Nature Made Zero Sugar‡ Multivitamin Gummies. These products have been made available across the world, including Japan.