Spice of Life: Indonesia's Turmeric Craze & Philippines' Gummy Boom
By Quan Wenjun
3 min read
Southeast Asian countries have sustained high GDP growth, which we believe opens large opportunities in the region's health product market. To stand out in this market, health supplement brands should research local demand thoroughly and make their strategic moves early.
Indonesia: Turmeric Herbal Supplements Take Center Stage#
According to Moojing Group, the Indonesian market has a particular fondness for herbal supplement products compared with other Southeast Asian countries, and accounts for 52.9% of the region's herbal supplement market.
Moojing Oversea data shows that herbal supplements in Indonesia generated sales of USD 17.44 million in 2023, an increase of 268% year on year, which made herbal supplements the fastest-growing subcategory in the Indonesian health product market.
Traditional drinks made with spices such as ginger, turmeric and temulawak (Javanese ginger) are an integral part of Indonesian culture. Local consumers widely believe that herbal spice ingredients are natural and long-established and so cause fewer side effects than health supplements made with chemical ingredients. Health supplements and herbal supplements that feature these traditional spice ingredients have therefore become mainstream in the local market.
Moojing Oversea data shows that turmeric products are the best-selling herbal supplements in Indonesia, with high unit prices and relatively few products on offer, which makes the ingredient worth close attention from brands in the category.
Philippines: Focus on Gummy Formulation Health Supplements#
Health product sales on a leading Philippine marketplace exceeded USD 124.32 million in 2023, an increase of 115% year on year.
According to Moojing Oversea, the health nutrition category accounts for half of the Philippine health product market and grew by nearly 100% over the year. Immune and vitamin products make up 44% of the health nutrition segment, while the third-largest category, sleep and anxiety products, grew by 500% in 2023.
Filipino consumers prefer capsules, gummies and powders among supplement formulations. Gummies stand out, with sales of USD 23.31 million in 2023 from fewer than 1000 products, so we believe brands in this segment should consider entering the market early.
Summary#
Over the past three years, people have paid much more attention to their health, which has driven continuous growth in health supplement consumption worldwide, and the health and wellness industry as a whole has entered a phase of rapid development.
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