Indonesia Herbal Supplements Market Report 2023 to 2030

Indonesia Herbal Supplements Market Report

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The Indonesia Herbal Supplements Market was valued at $31.56 Mn in 2023 and is predicted to grow at a CAGR of 6.2% from 2023 to 2030, to $48.08 Mn by 2030. The key drivers of this industry include a younger population, cultural acceptance, and rising awareness. The industry is primarily dominated by players such as Himalaya Wellness, Herbalife Nutrition, Sido Muncul, and Deltomed Laboratories among others.

ID: IN10IDON001 CATEGORY: OTC & Nutraceuticals GEOGRAPHY: Indonesia AUTHOR: Aashwi Mehta

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Indonesia Herbal Supplements Market Executive Summary

The Indonesia Herbal Supplements Market was valued at $31.56 Mn in 2023 and is predicted to grow at a CAGR of 6.2% from 2023 to 2030, to $48.08 Mn by 2030.

Herbal supplements, also known as botanicals, are dietary supplements that contain one or more herbs. These products, which include herbal, botanical, or phytomedicines, are derived from plants or botanicals to promote health or treat illnesses. Herbal supplements are intended specifically for internal use and are commonly available in solid forms such as capsules, pills, tablets, and lozenges, but can also be found in liquid or powder forms. Some popular herbal supplements include Echinacea, Garlic, Ginkgo, Ginseng, St. John's Wort, Saw Palmetto, and Valerian.

Indonesia ranks 4th globally among the main producers of medicinal plants. A study indicated that 24.4% of adults in Indonesia had consulted a traditional practitioner or used traditional medicine in the past four weeks, while 32.9% had used complementary medicine in the same period. The market is driven by significant factors like growing younger population, cultural acceptance, and rising awareness. However, regulatory challenges, quality control issues, and lack of scientific validation restrict the growth and potential of the market.

Prominent players in this field include Himalaya Wellness, Herbalife Nutrition, Sido Muncul, and Deltomed Laboratories among others.

Indonesia Herbal Supplements Market Report 2023 to 2030

Market Dynamics

Market Growth Drivers

Growing Younger Population: Indonesia's large, youthful population is a major driver for the herbal supplement market. With 60% of its 250 Mn people being young and this demographic expected to grow, the demand for health-conscious products like herbal supplements will likely rise as more people seek to maintain their health and wellness during these years.

Cultural Acceptance: Indonesia's rich tradition of herbal remedies, deeply rooted in its culture, makes herbal supplements widely trusted and accepted by the population. This cultural acceptance drives the market, as consumers are more likely to choose herbal supplements due to their familiarity and confidence in traditional medicine.

Rising Awareness: Increasing public awareness is leading Indonesians to prioritize preventive healthcare, early detection, and overall well-being rather than solely focusing on treatment costs. This shift in mindset is a market driver for herbal supplements, as more people seek natural and preventive health solutions.

Market Restraints

Regulatory Challenges: The intricate regulatory frameworks and compliance requirements pose a barrier to entering the market and registering products, which in turn limits the availability and affordability of herbal supplements in Indonesia.

Quality Control Issues: Maintaining consistent quality and safety standards for herbal supplements is challenging in Indonesia due to varying sourcing practices, processing standards, and the prevalence of counterfeit products. This inconsistency poses a significant restraint to the herbal supplement market in the country.

Lack of Scientific Validation: The limited scientific research and validation of herbal supplements may discourage both consumers and healthcare professionals from fully embracing these products in Indonesia, acting as a significant restraint on the market.

Regulatory Landscape and Reimbursement Scenario

Under the authority of the Indonesian Ministry of Health (MOH), The Indonesian Food and Drug Administration, or Badan Pengawas Obat dan Makanan (Badan POM/BPOM), is in charge of establishing specific regulations for herbal supplements. In 2023, BPOM introduced Regulation No. 24, which supersedes Regulation No. 17 from 2019. This updated regulation establishes comprehensive safety and quality standards for health supplements, including herbal supplements. In Indonesia, reimbursement for herbal supplements is generally limited and not widely accessible. Although certain government initiatives like the Indonesian National Health Insurance (Jaminan Kesehatan Nasional or JKN) may occasionally cover the expense of some supplements, this remains uncommon and is not standard practice.

Competitive Landscape

Key Players

Here are some of the major key players in the Indonesia Herbal Supplement Market:

Himalaya Wellness
Herbalife Nutrition
Sido Muncul
Deltomed Laboratories
G Herbal
Patanjali Ayurved
Phytochemindo
Darya-Varia Laboratoria
Bali Extract Utama
Ben Sehat Sejahtera

1. Executive Summary
1.1 Product Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Government Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel and Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation

6. Methodology and Scope

Indonesia Herbal Supplements Market Segmentation

By Product Form

Tablet
Capsule
Powder
Others

By Application

Immunity
General Wellness
Specific Health Condition

By Distribution Channel

Pharmacies
Supermarket/Hypermarket
Online
Specialty Stores

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

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How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.