Thailand Food Supplements - 2024-2027

Market Overview

The Thailand Food Supplement Market recorded a value of US$2,023.52 million in 2023 and is expected to reach US$2,522.65 million in 2027, growing at a CAGR of 5.90% during the forecast period (2024-2027).

The food supplement market in Thailand is characterized by a growing awareness of health and wellness among its population. As Thai consumers become more health-conscious, there is a rising demand for dietary supplements that address various health needs, from general well-being to specific conditions such as weight management, immune support, and beauty enhancement. An increased emphasis on preventive healthcare and a desire for products that enhance a healthy diet are the driving forces behind this trend.

The Thai market for food supplements is diverse, offering a range of products including vitamins, minerals, herbal supplements, and specialized formulas for weight loss, energy, and sports nutrition. Traditional Thai medicine and herbal remedies play a significant role in the market, reflecting the cultural preference for natural and conventional health solutions. This has increased interest in supplements derived from indigenous plants and herbs.

Key Drivers

Increasing the Aging Population

As the demographic shifts towards an older population, there is a growing emphasis on health and wellness, prompting a rise in the demand for dietary supplements to maintain and improve health. Older adults are more susceptible to chronic diseases such as osteoporosis, arthritis, cardiovascular diseases, and diabetes, which can often be managed or mitigated with the help of specific vitamins, minerals, and other supplements.

Additionally, the aging population tends to have higher disposable income and is more willing to invest in health-enhancing products to ensure a better quality of life. This demographic shift led to increased consumer awareness about the benefits of dietary supplements, further boosting market growth.

According to WHO, 2023, stated that Thailand is among the fastest-aging countries in the world. Of its 67 million population, 12 million Thais, are elderly. With advances in the health care system, the number and proportion of people aged 60 years and older are on the rise both in Thailand and globally. In 2019, more than one billion of the world's population was above the age of 60. This is expected to increase to 1.4 billion by 2030 and 2.1 billion by 2050.

Moreover, the World Bank Group stated that, as of 2016, 11% of the Thai population (about 7.5 million people) were 65 years or older, compared to 5% in 1995. By 2040, it is projected that 17 million Thais will be 65 years or older-more than a quarter of the population.

Strategies Adopted by the Companies

The rise of partnerships, campaigns, and strategic initiatives significantly bolsters the food supplement market in Thailand. Collaborations with healthcare providers and research institutions enhance the credibility and scientific backing of supplements, while alliances with fitness centers and wellness retreats open new distribution channels and create integrated health solutions. Public awareness campaigns, influencer endorsements, and digital marketing efforts educate consumers and drive brand visibility, leading to increased demand.

For instance, in 2022, Central Retail Corporation (CRC), reinforces its first-mover position in introducing new business formats with the launch of 'Tops Vita', offering Thailand's first O2O ecosystem of vitamins and supplements, which will pave the way towards its establishment as the category champion in capturing market share worth up to THB 200,000 million. With its Offline to Online (O2O) strategy that synergizes physical 'Tops Vita' stores with e-commerce channels, the brand offers an elevated shopping experience for health-conscious consumers.

Moreover, in 2022, NRF partners with WINMED to collaboratively strengthen and enter into dietary supplement brands on the global stage like Wellpath and Prime Labs, health nourishment, health restoration, and supplement products. To support health and wellness consumer trends, the Company plans to launch products and anticipates that, in Q4/2022, NRF's health and supplement products will be available both offline and online channels throughout Thailand as well is confident that this will support strong sales growth attributed to the company.

Restraints

Competition from Alternate Food Sources

Competition from alternate food sources restrains the food supplement market in Thailand by offering consumers natural, often preferred alternatives for obtaining essential nutrients. Whole foods are seen as more natural and wholesome compared to synthetic supplements. For instance, Thai cuisine is rich in a variety of nutrient-dense ingredients like fresh herbs, vegetables, and seafood, providing essential vitamins and minerals in their natural form.

Consumers increasingly prioritize whole foods for their perceived safety, fewer side effects, and additional health benefits such as fiber and antioxidants that supplements may lack. The cultural emphasis on traditional dietary practices further strengthens this preference. For example, the widespread use of herbs like turmeric and ginger, known for their medicinal properties, provides a natural alternative to supplement pills.

Moreover, the growing trend towards organic and locally sourced foods also competes with the supplement market. Organic markets and health food stores offering a wide range of nutrient-rich, locally-produced foods cater to health-conscious consumers who might otherwise consider supplements.

Segment Analysis

Thailand's food supplement market is segmented based on ingredient, dosage, application, age, and distribution channel.

Rising Awareness of Age-Related Health Issues Drives the Segment Growth

The bone and joint health segment dominates the Thailand food supplement market. The rising awareness of age-related health issues, such as osteoporosis and arthritis, is pushing consumers to seek preventive measures. As Thailand's population ages, the demand for products that support bone density and joint mobility continues to rise, with supplements playing a crucial role in this proactive approach. Consumers are increasingly turning to calcium, vitamin D, collagen, and glucosamine-based supplements to maintain bone strength and alleviate joint discomfort, fueling the growth of this market segment.

Medical professionals increasingly recommend dietary supplements as part of a holistic approach to managing bone and joint conditions. Social media and digital health platforms are spreading awareness about the benefits of such supplements, thus influencing consumer behavior. The integration of traditional ingredients with modern formulations, particularly those that cater to the local market's preference for natural and holistic solutions, also appeals to the health-conscious Thai population.

For instance, in 2024, according to the Thai Mass Participation Sports Trade Association (TMPSA) over 1,500 mass participation sports such as marathons, off-road races, and competitive fitness events took place in 2023. Based on TMPSA's forecast, this figure is expected to grow by 25% in 2024. Pre-COVID mass participation in sports contributed to roughly 200 billion Thai baht annually across sectors. Post-pandemic, the region is rapidly seeing a resurgence in terms of interest and participation in these types of events alongside the rise in sports-related businesses, products, and services which correlates to people's growing interest in health and wellness.

Sustainability Analysis

The demand for sustainable and environmentally friendly food supplements is growing as Thai consumers become more aware of health and environmental concerns. People are increasingly opting for supplements derived from natural and organic sources, with eco-friendly packaging and sustainable farming practices. Both regional consumer preferences and global health trends are driving this shift, which is pushing Thailand's supplement market to prioritize sustainable production.

Many companies in Thailand are moving toward sustainable sourcing of raw materials, such as plant-based or marine-based supplements. The focus is on using ingredients that are locally grown through organic or sustainable agriculture, reducing carbon footprints, and promoting biodiversity. Ingredients like moringa, spirulina, and turmeric are sourced from local farms, which support both sustainability and the local economy.

To reduce environmental impact, manufacturers in Thailand are adopting greener production methods. These include energy-efficient processes, water conservation techniques, and the use of renewable energy sources. Certification programs like GMP (Good Manufacturing Practices) and organic certifications are becoming essential to signal a commitment to sustainability.

Unmet Needs

The regulatory landscape for food supplements in China can be complex and stringent, which can be a barrier for both domestic and international companies. Simplifying and clarifying these regulations could enhance market entry and growth. For instance, in 2021, the China State Administration for Market Regulation (SAMR) announced stricter guidelines for health food claims, which created challenges for many companies in ensuring compliance while marketing their products effectively.

Although the demand for food supplements is rising, a significant portion of the population, particularly in rural areas, may find high-quality products unaffordable or inaccessible. The market has unmet needs for more affordable, locally-produced supplements that can cater to broader demographics. Distribution networks could also be improved to reach underserved regions.

While there is growing demand for sustainably sourced supplements, many companies have yet to fully incorporate eco-friendly practices into their production processes. The market is ripe for innovation in the areas of sustainable sourcing, packaging, and ethical business practices. Addressing this unmet need could cater to the environmentally conscious consumer segment, which is growing in Thailand.

Competitive Landscape

The major players in the market include H MEGA Lifesciences Public Company Limited, Asian Phytoceuticals Public Company Limited, Khaolaor Laboratories Co., Ltd., Giffarine Skyline Unity Co., Ltd., BBGI Public Company Limited, Immortal Corporation Co., Ltd., Inter Pharma Public Company Limited, Royce Lab International, Chame Corporation Public Company Limited, THAI HEALTH PRODUCT CO., LTD., CEO Factory (Thailand) Co., Ltd.

Market Segmentation

By Ingredient

Vitamins

Botanicals

Minerals

Protein & Amino Acids

Omega Fatty Acids

Probiotics

Others

By Dosage

Tablet

Capsules

Liquid

Powder

Others

By Application

Gastrointestinal Health

Gut Microbiota/Microbiome Balance

Digestion

Constipation

Bloating

Diarrhea

Leaky Gut

Inflammation

Gluten sensitivity

Abdominal Pain

GERD/Helicobacter pylori

Antibiotic-Associated Diarrhea/Post-Antibiotic Treatment

Gut Flora/Gut Microbiome Restoration

Others

Vaginal Health

Urinary Tract Health

Kidney Stones

UTIs

Others

Oral Health

Anti/Healthy Ageing

Allergies/Asthma

Bone & Joint Health

Osteoarthritis

Osteoporosis/Low Mineral Bone Density

Inflammation

Brain/Mental Health

Sleep

Cognition

Mood

Depression

Focus

Cardiovascular Health

Circulation

Energy/Fatigue Reduction

Metabolic Syndrome/Blood Glucose

Liver Health

Energy

Immunity/Respiratory Infections

Nutrient Absorption

Skin-Hair-Nails

Atopic Dermatitis & Eczema

Acne

Rosacea

Hair Growth/Hair Loss

Skin Microbiome

Others

Sports

Women's Health

Fertility

Menopause

Pregnancy

Pcos

Vaginal Health & Health Vaginal Microbiome

Vaginal Infections (Bv/Vvc)

Pregnancy Outcomes

Others

Men's Health & Men's Fertility

Weight Management

Pediatric Health

Colic

Constipation

Regurgitation

Atopic Dermatitis

Others

Others

By Age

Infant

Children

Adults

Seniors

By Distribution Channel

Supermarkets/Hypermarkets

Pharmacies and Drug Stores

Convenience Stores

Online Retailers

Other Distribution Channels

Key Developments

In 2022, NRF partners with WINMED to collaboratively strengthen and enter into dietary supplement brands on the global stage like Wellpath and Prime Labs, health nourishment, health restoration, and supplement products. To support the health and wellness consumer trend, the Company plans to launch products and anticipates that, in Q4/2022, NRF's health and supplement products will be available both offline and online channels throughout Thailand as well is confident that this will support strong sales growth attributed to the company.

Why Purchase the Report?

To visualize the China and Hong Kong food supplement market segmentation based on ingredient, dosage, application, age, and distribution channel, as well as understand key commercial assets and players.

Identify commercial opportunities by analyzing trends and co-development.

Excel data sheet with numerous data points of China and Hong Kong food supplement market-level with all segments.

PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.

Product mapping available as excel consisting of key products of all the major players.

The China and Hong Kong food supplement market report would provide approximately 48 tables, 63 figures, and 210 pages.

Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies