Malaysia
Population: 32.7 million people.
MALAYSIA
Opportunity for Vitamin and Mineral Growthin Malaysia
Muslim majority with a strong desire for Halal products. As of now, Malaysia’s vitamin and dietary supplement market is expected to reach USD 730 million in sales in 2020, up from USD 488 million in 2014. In a growing market like this, it is surprising that Malaysia does not have a dominant player. This, however, means that there is a fantastic opportunity to enter the market.
People’s Points of View
Malaysians are interested in health supplements because they believe that prevention is better than cure. Weight-loss pills and teas are widely used. Malaysians purchase these items to avoid obesity and heart disease. They have the ASEAN region’s second highest rate of obesity. One-third of Malaysia’s health supplement sector is made up of herbal and traditional remedies, particularly in women’s health and postnatal care. Rakuten Insight polled 55% of Malaysians in July 2022, and 82% said they took nutritional supplements to boost their immune systems. 69% of supplement users got them from a pharmacy.
Retail Pharmacy Industry in Malaysia Dominates Sales
While 93% of health supplement sales channels are offline, the push for convenience may open the door for online channels to enter in the future.
Capture the Opportunity
These markets are complex to enter, and many have failed. Our established network of team members and partners covers all aspects from initial market analysis, regulatory registration, logistics, marketing, and sales. All based on a proven process. Supplement sales in Asia are still very retail driven, and most brands that focuses online miss out on a large part of the sales opportunity.