Philippines

Philippines Nutraceuticals Market is Expected to Reach PHP 261 Billion in Terms

of Revenues by 2022. The following are reasons for it:
● Increasing demand for healthy and nutrition oriented functional beverages is

expected to increase the demand for nutraceuticals in the Philippines.

● Emergence of domestic brands and foreign based multinational corporations

selling unique variants of vitamins and dietary supplements is expected to

augment the sales for the nutraceuticals market of Philippines.

● Growth in the demand for dairy based functional foods will be a key factor

contributing to the growth of Philippines nutraceuticals market.

Market Analysis

Percentage of people taking dietary supplements before COVID

Percentage of people taking dietary supplements after COVID

Customers preferring dietary supplements: The Main reasons for taking dietary
supplements or nutraceuticals in the Philippines are:
● To improve and strengthen the immune system
● Stress-relief and improving sleep
● Improving skin,hair and nails
● Weight loss
● detoxing
The percentage of each is given below.

If we split it by age group the main reasons for taking dietary supplements or
nutraceuticals in the Philippines are:
● To improve and strengthen the immune system
○ 16-24 age group - 80%
○ 25-34 age group - 83%
 ○ 35-44 age group - 88%
○ 45-54 age group - 93%
○ 55+ age group - 94%

● Stress-relief and improving sleep

○ 16-24 age group - 36%
○ 25-34 age group - 39%
○ 35-44 age group - 40%
○ 45-54 age group - 35%
○ 55+ age group - 38%
● Improving skin,hair and nails
○ 16-24 age group - 31%
○ 25-34 age group - 31%
○ 35-44 age group - 26%
○ 45-54 age group - 21%
○ 55+ age group - 21%
● Weight loss
○ 16-24 age group - 25%
○ 25-34 age group - 23%
○ 35-44 age group - 18%
○ 45-54 age group - 14%
○ 55+ age group - 4%
Inference
● The age group of 45-54 and 55+ are taking dietary supplements or
nutraceuticals to improve and strengthen their immune system
● The age group of 25-34 and 35-44 are taking dietary supplements or
nutraceuticals for stress relief and improving sleep
● The age group of 16-24 and 25-34 are taking dietary supplements or
nutraceuticals to improve their skin,hair and nails and also for weight loss
Frequency: The Frequency of people taking dietary supplements in the
Philippines is given below in percentages.
Sales distribution channels

Target Market -
Competitive Landscape
Philippines Vitamins and Dietary Supplements Market: Competition within the
Philippines vitamins and dietary supplements market was witnessed to be
moderately fragmented with top 4 players capturing majority of the market share
by revenue, namely United Laboratories Inc, USANA Health Sciences Inc, Pfizer
Inc and Tynor Drug House Inc in the year 2017. One of the biggest influences of
the market is the customers' personal disposable income and their allotted budgets
for vitamins and dietary supplements.
Philippines Functional Foods Market: Competition within the Philippines
functional foods market was noted as fragmented in nature owing to the presence
of international and domestic local manufacturers in this segment. Over the years,
the competition has increased as the companies are focusing towards improving the
quality of their products. Some of the major players operating within the country's
functional foods market include Nestle, Reckitt Benckiser Group, Yakult Honsha
Co Ltd, San Miguel Corp and others who sell functional foods belonging to
various segments such as baby food, dairy, confectionery items, breakfast cereal,
sweet biscuits, snack bars and fruit snacks and others.
Philippines Nutraceuticals Market Future Outlook
Philippines nutraceuticals market revenues are further expected to increase at a
stable CAGR during the forecasted period 2017-2022E. The expected growth and
popularity of this industry can be directly linked along with consumers' rising
inclination towards health and wellness. Distribution Channels available for
Nutraceutical Companies in the Philippines will play a vital role in their future
growth. Apart from daily/regular retail store formats, a rising number of players
have been adopting direct selling distribution models. In the forecast period, high
growth opportunities are likely to be perceived in functional food ingredients
including lutein, lycopene, omega-3 fatty acids, probiotics; soy protein nutrients;
essential minerals such as calcium and magnesium; herbal extracts including
garlic, green tea and non-herbal extracts including chondroitin, glucosamine and
coenzyme Q10 in the Philippines.
Target Market
If avocado is producing or exporting the vitamin and dietary supplements then the
target market could be:
● People who are using pharmaceutical
● Government Agencies

If they are collaborating with other dietary supplements then target market is:

● Nutraceuticals Manufacturers

● Nutraceuticals Distributors

● Government Agencies

● Vitamins and Dietary Supplements Companies

● Functional Foods Companies

● Functional Beverages Companies

References
https://www.prnewswire.com/in/news-releases/philippines-nutraceuticals-market-
is-expected-to-reach-php-261-billion-in-terms-of-revenues-by-2022-ken-research-
873147006.html

https://www.statista.com/statistics/1183381/philippines-share-of-people-who-
trusted-dietary-supplements/

http://www.statista.com.iimulibrary.remotexs.in/statistics/1183353/philippines-
covid-19-dietary-supplement-intake-increase/

http://www.statista.com.iimulibrary.remotexs.in/statistics/1183292/philippines-
reasons-taking-dietary-supplements-by-age/