In line with a UNICEF report, 52 million kids beneath the age of 5 reside within the East Asia and Pacific area. In APAC, one in two kids suffers from some type of micronutrient deficiency. Micronutrient deficiency is among the most widespread well being issues that many areas, primarily developed and underdeveloped areas, wrestle with. Micronutrients, because the identify suggests, are wanted in smaller quantities for the physique’s general development and diet, stopping any type of deficiency. The commonest micronutrients embrace nutritional vitamins, minerals, selenium, copper, iodine and others.
The underlying purpose for APAC’s rising share of the micronutrient market is malnutrition. Deficiencies of iron, vitamin A, vitamin B12, zinc and iodine are frequent in APAC. Not solely this, however the COVID-19 pandemic additionally elevated the demand for micronutrients as folks started to pay extra consideration to their general well being and well-being.
Consequently, all main gamers and new manufacturers at the moment are introducing more healthy dietary merchandise to the APAC market. From dairy merchandise and breakfast cereals to ready meals, sports activities/vitality drinks, snacks and extra, a variety of meals, beverage and diet merchandise within the APAC market now include added nutritional vitamins, minerals and different micronutrients.
Micronutrients Market Segmentation in APAC
East Asia
China is among the largest importers of nutritional vitamins. Many main micronutrient-rich meals at the moment are being launched in China, starting from rice crackers, recent milk with added protein, and nutrient-dense cereals formulated for seniors. About 60% of China’s vitamin imports come from varied nations world wide, together with Japan, South Korea, Australia, Indonesia, Myanmar, Thailand, the Philippines, Vietnam and Pakistan.
In the meantime, in Japan, greater than 75% of the inhabitants consumes dietary dietary supplements, making it one of many health-conscious nations with a exceptional longevity. Japan is concerned within the manufacturing of lipids and imports the vast majority of its nutritional vitamins from South Korea, China and India with an estimated quantity of over 18,000 tons. Japan hosts an energetic pharmaceutical market because of its inhabitants’s intense give attention to sustaining excessive requirements of look and well being.
And it’s anticipated that by 2022 in South Korea, greater than 17% of the South Korean inhabitants shall be aged, which has a major impression available on the market dynamics of micronutrients. Provided that the aged inhabitants is predicted to develop over the following few years, South Korea’s pharmaceutical business is clearly experiencing development. Persons are spending extra money on superior merchandise, particularly within the toddler system market, which is driving up the demand and consumption of omega-3 and omega-6 lipids. The identical pattern might be seen within the pharmaceutical and dietary complement business, which has grown steadily in South Korea because of the nation’s strict health and beauty requirements.
south Asia
India, a creating nation that’s increasing in all areas, is a rising market on the subject of micronutrients. Whether or not it’s toddler system, dietary dietary supplements, sports activities or vitality drinks, the nation has invested in and envisioned shopping for premium gadgets, making it a profitable market. The nations constant import, export and manufacturing ranges keep a stability all through the life cycle of commerce dynamics. Prescribed drugs and dietary dietary supplements are two of the highest segments that might expertise double-digit CAGR development over the following two years. Lipids are a rising marketplace for toddler system, dietary dietary supplements and prescribed drugs; nonetheless, carotenoids see decrease demand. The pandemic additionally considerably modified the commerce dynamics in India. At present, the vast majority of vitamin imports come from China, Taiwan and Germany.
During the last 12 months, the expansion of micronutrients in India has been phenomenal. Launches have taken place in plenty of sub-categories, together with in breakfast cereals, dietary drinks, snacks, sweeteners, bakery and others. Flavored diet drinks for expectant moms, complete wheat flour, private protein powder, small millet and different new merchandise have been additionally launched in 2022.
Many nations in Asia and the Pacific are densely populated and have poor residing circumstances. Some governments, corresponding to Bangladesh, have banned vitality drinks and deemed different dietary supplements pointless, making it troublesome for producers to supply high-quality merchandise to these in want. Imports from Pakistan and Bangladesh make up one-tenth of what India imports, displaying how exhausting the market has to shift and form to satisfy micronutrient deficiency wants.
Southeast Asia
The Southeast Asian nations are displaying the perfect market development contemplating how the inhabitants is shifting in the direction of a greater and more healthy way of life and what number of nations have critical vitamin deficiencies in each women and men. In terms of micronutrients, few Southeast Asian nations put money into producing or establishing an export community, preferring as an alternative to import all important lipids, carotenoids and nutritional vitamins from main exporters corresponding to China, India, Germany and Switzerland.
In nations corresponding to Malaysia and Indonesia, there are mandates and proposals to fortify sure staples corresponding to milk, yogurt, flour and so forth. Right here, a mix of nutritional vitamins A, B, C and D is used to extend the dietary worth of a product. A lot of Malaysians are vitamin D poor, which has elevated the demand for fortified meals corresponding to oils, sizzling drinks and vitality drinks to enhance high quality of life. Thailand’s authorities has mandated milk fortification, and there’s additionally a proposed fortification requirement for noodles and condiments, amongst different issues. Vitamin A and D deficiencies are fairly frequent and widespread in Thai folks, as native magnificence requirements make folks keep away from solar publicity, leading to many bone illnesses and prompting the federal government to make vitamin D fortification obligatory in sure meals classes. The marketplace for lipids and carotenoids has the potential to broaden, significantly within the toddler system and pharmaceutical classes.
Oceania
Over 40% of Australians take vitamin or micronutrient dietary supplements, primarily vitamin D, omega-6 fatty acids, vitamin C, vitamin B and lutein. The micronutrient market within the nation is booming, with imports from China assembly greater than two-thirds of Australia’s import demand for vitamin C, vitamin E, carotenoids and so forth. The nation’s consumption of dietary dietary supplements exceeds 3,000 tons and can develop at a CAGR of greater than 7% over the following two years. Australia exports its merchandise to China and India, the place it has good commerce relations, together with for DHA-rich tuna and arachidonic acid (ARA).
New Zealand is an export-heavy nation. Over 90% of the nation’s complete day by day manufacturing is exported to APAC and the remainder of the world. In New Zealand, a variety of vitamin D and vitamin Kfortified merchandise can be found, offering well being advantages corresponding to elevated bone density. New Zealand is among the largest producers of toddler system and makes use of plenty of micronutrients corresponding to vitamin A, D3, E, K1, B6, C, B2 and so forth, particularly in exports to nations corresponding to China. Nonetheless, the nation imports C, B12 and B6 nutritional vitamins from China. The nation additionally exports dietary dietary supplements to Australia, China and different nations. Though the consumption of micronutrients is rising steadily within the nation, lipids have a major benefit with a CAGR of round 9% for toddler system, over 10% for dietary dietary supplements and round 8% for prescribed drugs by 2025.
Excessive development potential
In comparison with different mature markets corresponding to Europe and the US, APAC is a rising marketplace for consumption and manufacturing of micronutrients. Many nations have thriving markets in virtually all segments, whereas others are nonetheless struggling to introduce micronutrient-rich meals teams to their considerably poor populations. APAC has excessive want and demand, making it one of the vital markets to observe for viable future development in micronutrients.
In regards to the writer
Jasleen Kaur (jasleen.kaur@chembizr.com) is content material lead and model supervisor for ChemBizR. ChemBizR is a boutique company analysis and consulting accomplice for chemical firms globally, engaged in addressing firms’ crucial enterprise challenges and strategic development initiatives to assist them rework their enterprise for sustainable development in a extremely aggressive and quickly evolving atmosphere. For extra data, e mail join@chembizr.com.