Japan OTC Vitamins and Minerals Market Analysis


  • Type: Common Disease Area
  • Published : January 2022
  • Region: Asia
  • Country: Japan
  • Report ID : 5032

  • Format: PPT, PDF

Japan OTC Vitamins and Minerals Market Analysis: Segmented by Type, Application – Growth, Market Size, Future Prospects & Competitive Analysis, 2020 – 2028

SKU: 5032 Categories: ,

Report Description of the Japan OTC Vitamins and Minerals Market Analysis

Research Scope and Assumption

  • The report provides the market value for the base year 2020 and a yearly forecast up to 2028 in terms of revenue (USD billion)
  • The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
  • We have used the combination of top-down and bottom-up approach for market sizing, analyzing key regional markets, dynamics, and trends for various solutions, services, and end uses
  • All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
  • Inflation has not been accounted for in order to estimate and forecast the market
  • Numbers may not add up due to rounding off

Reason to buy the report:

  • Facilitate decision-making based on strong current and forecast data for Japan OTC Vitamins and Minerals Market Analysis
  • Develop strategies based on the latest regulatory framework
  • Strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market
  • Analyze competitive developments such as expansions, investments, mergers & acquisitions, new product developments, and research & developments in the Japan OTC Vitamins and Minerals  Market  Analysis
  • Analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • We have technically sound team which do a deep dive research and also provide strategy based consulting analysis

Japan OTC Vitamins and Minerals Market Analysis Executive Summary

OTC vitamins and dietary supplements are generally sold without any medical prescription and have been gaining widespread acceptance for delivering desired body nutrients that help improve an individual’s diet, body endurance, and muscle strength. This is one of the primary factors influencing growth of the OTC vitamins and dietary supplements market.

Market Size and Key Findings

The Japan OTC Vitamins and Minerals Market Analysis size stood at around USD 1.9 billion in 2020 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 2.93% during the forecast period.

Revenue in the Vitamins & Minerals segment amounts to US$1,903.49m in 2021. The market is expected to grow annually by 2.93% (CAGR 2021-2028).

Market Dynamics

Market Growth Drivers Analysis

The growing geriatric population, has improved the consumer’s spending on dietary supplements over the past few years. Several food standards and governments are updating the regulations and approvals for the overproduction of vitamin & supplements that have made the market more competitive. The rising focus of consumers on preventive healthcare products has increased the effectives in production and marketing efforts.

With the rising dependency on the internet and the increasing volatility of the health supplements industry, consumers are becoming increasingly attentive to personalised medicines and care. The internet is one of the crucial mediums for shopping which helps to reduce barriers to access the dietary supplements in the market.

Market Restraints

The market is exhibiting numerous challenges for the past few years due to the presence of multiple regulations and procedures before the product launch. Manufacturers are bound to submit a sample of vitamins and supplements along with the notification stating that the product is reasonably expected to be safe in the market. The product must undergo testing under the Dietary Supplement Health and Education Act of 1994 (DSHEA) for a long time which results in the procedural delay in the market. Thus, the tax structure has also increased by 5-10% in the past years and is impeding the market growth.

COVID-19 impact on “Japan OTC Vitamins and Minerals Market”

The entire supply chain from production to international trade has been impacted. The economic crisis due to COVID-19 is also impacting dietary supplements by disrupting distribution networks. The supplements, which are economically important, have a fragile supply chain and failure in any stage of the supply chain from farms to dealers, haulers and distributors to manufacturers-can disrupt the entire chain.

Competitive Landscape

Key Players

Some of the key players in the market include:

  • Amway
  • Abbott
  • Bayer AG
  • Glanbia plc
  • GlaxoSmithKline plc
  • Herbalife International of America, Inc.
  • Nu Skin
  • NOW Foods
  • Bright Life Care Private Limited
  • Sun Pharmaceutical Industries Ltd.
  • Nature’s Sunshine Products, Inc.
  • Nutra Essential OTC
  • The Nature’s Bounty Co.
  • Arkopharma Laboratories

Products in Pipeline

  • Nutrition plays an important role in maintaining immune system balance, and supplementation with the micronutrients such as vitamins C and D, Zinc and omega fatty acids within recommended upper safety limits is a safe, effective and low-cost strategy to help support optimal immune function in patients fighting COVID-19 and other respiratory tract diseases. In the case of COVID-19 patients, a variety of high-protein and fibre foods, including cookies, bread and rolls, have been developed by the Indian Research Institute.

Notable Recent Deals

In April 2020, American Regent Inc., a US manufacturer of pharmaceuticals for human and veterinary use with manufacturing sites in New York and Ohio, acquired Daiichi Sankyo for an undisclosed amount. This acquisition increases American Regent’s production and provides the opportunity to explore other products to manufacture, allowing the company to continue to find innovative ways of responding to customer needs. Daiichi Sankyo is a pharmaceutical company with its corporate origin in Japan.

Healthcare Policies and Regulatory Landscape

Policy changes and Reimbursement scenario

In Japan, the Ministry of Health, Labor and Welfare (MHLW) oversees the dietary supplements safety and import regulations. The Consumer Affairs Agency (CAA) administrates rules covering claims for foods including dietary supplements.

Japan’s health claims system for foods, including dietary supplements, is complex.  Food products classified in the following three categories are permitted to make function claims on their labels:

  • Foods for Specified Health Uses (FOSHU): These are foods officially approved to claim their physiological effects on the human body.
  • Foods with Nutrient Function Claims (FNFC): These are foods that are labeled with the functions of 20 nutritional ingredients (e.g., vitamins, minerals and fatty acid).
  • Foods with Function Claims: These are foods labeled with function claims based on scientific evidence under the business operators’ responsibility.

1. Report Description of the Japan OTC Vitamins and Minerals Market Analysis
1.1 Research Scope and Assumption
1.2 Objective of the study
1.3 Research Methodology
1.4 Reason to buy the report
2. Japan OTC Vitamins and Minerals Market Analysis Executive Summary
2.1 Japan OTC Vitamins and Minerals Market Analysis – Industry Snapshot & key buying criteria, 2020-2028
2.2 Market Size, Growth Prospects and Key findings
3. Market Dynamics of Japan OTC Vitamins and Minerals Market Analysis
3.1 Market Growth Drivers Analysis
3.1.1 Technological advancements and rising consumer spending to shape market growth.
3.1.2 Increasing self-directed care and ease of access to proliferate market.
3.2 Market Restraints Analysis
3.2.1 Stringent regulations
3.2.2 Revised tax structure to dampen market expansion
3.3 Covid-19 Market Impact Analysis
4. Japan OTC Vitamins and Minerals Market Segmentation
4.1 By Type:
4.1.1 Powder
4.1.2 Tablets
4.1.3 Capsules
4.1.4 Soft gels
4.1.5 Liquid
4.1.6 Others
4.2 By Application:
4.2.1 Adults
4.2.2 Geriatric
4.2.3 Pregnant Women
4.2.4 Children
4.2.5 Infants
5. Japan OTC Vitamins and Minerals Market Share
5.1 Market Analysis, Insights and Forecast – By Revenue
6. Competitive Landscape
6.1 Major Top Market Players
6.2 Products in Pipeline
6.3 R&D Initiatives Vitamins & Minerals Market
6.4 Notable recent deals in Vitamins & Minerals Market
6.4.1 Joint Ventures
6.4.2 Partnerships
6.4.3 Mergers & Acquisitions
6.4.4 Strategic divestments
7. Key Company Profiles
7.1 Amway Company overview
Product & Services, Strategies & Financials
7.2 Abbott Company overview
Product & Services, Strategies & Financials
7.3 Bayer AG Company overview
Product & Services, Strategies & Financials
7.4 Glanbia plc Company overview
Product & Services, Strategies & Financials
7.5 GlaxoSmithKline plc Company overview
Product & Services, Strategies & Financials
7.6 Herbalife International of America, Inc. Company overview
Product & Services, Strategies & Financials
7.7 Nu Skin company overview
Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape
8.1 Policy changes and Reimbursement scenario
8.2 Government Initiatives / Intervention programs
9. Factors Driving Future Growth
9.1 New Trends and Development of Vitamins & Minerals market
9.2 Future Opportunities
10. Strategic Recommendations

Japan OTC Vitamins and Minerals Market Analysis Segmentation

By Type:

When it comes to oral medication, capsule performs decently in the vitamins and supplements industry due to its properties of digestibility and dissolvability in the gut tract. Capsules tend to break down rapidly compared to tablets and are one of the major factors to support its sales. Tablets are the second-largest segment by form and contain additives that hold ingredients of pills together and offer taste and texture to consumers. Thus, it is absorbed by the body more slowly than capsules.

By Application:

Based on Application, the market of OTC Vitamin is divided into Adults, Geriatric, Pregnant Women, Children and Infants

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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