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Growth Driven by Investment in Cold Chain Equipment, Storage and Transport Coupled with Significant Demand for Milk: Ken Research
Domestic demand for fresh milk and its by-products (such as butter, cheese and cream) has not always been fully met in Indonesia by local companies. As a result, numerous international players such as Nestle and Royal Friesland entered the market. Increased awareness of quality products and flavor variants, higher personal disposable incomes and adoption of a healthy lifestyle has forced manufacturers and retailers to intensify their efforts to improve accessibility towards natural, organic healthy friendly dairy based products in future thus, believing it to be more nutritious and lower levels of fat.
According to the Inside Story News Article, Indonesia's per capita milk consumption was evaluated at 11.7 liters per annum during 2018 (which is quite compared to other Southeast Asian countries such as the Philippines and Vietnam ) and it is anticipated to grow in the near future. Along with rising internet penetration in the country, dairy food manufacturers have been adopting to sell their products on several online portals. In order to further diversify the demand, international standard players over the long term are planning to improve production and distribution standards by respective investment and tie-ups in transport and cold chain infrastructure within Indonesia .
Dairy products such as Milk powder, cheese, butter and coffee whiteners are 80-85% imported in Indonesia from major countries and a small portion of 15-20% is produced domestically. Most of the raw materials were imported from Netherlands , Philippines , Germany , China and other neighboring Countries. The market is greatly affected by the trade halts from China due to pandemic situation caused in the year 2020. Due to Corona Virus infection, dairy consumption pattern changed to a great extent. All the major players shifted their product distribution either through internet retailing or via home delivery. All sectors except the ice cream market have been showcasing a major depression in their growth curve.
The report titled by Ken Research suggested that Indonesia Dairy Food Market is further expected to grow in future majorly due to changing Urban Lifestyle of the Indonesia and alteration in the preferences of the purchasing platform. Indonesia dairy food market is expected to register a positive six year CAGR of 6.1% and 3.7% in terms of revenue and sales volume respectively during the forecast period 2019P-2025F.
Vietnam Nutraceutical market grew at a higher single digit growth rate over the review period 2014-2019. The market growth was supported by the increasing health awareness, government initiatives, growth in the personal disposable income of the people, rise in ageing population, and preventive nature of the age group (25-45 years). The market was observed in the growth stage and will continue to remain so in the forecasted period, 2019-2025. A change in consumption trend has been observed in the Vietnam health and wellness industry, wherein the consumers are focusing more on the preventive healthcare from taking health supplements in the old age to a shift in increasing consumption of supplements in the earlier ages in order to prevent them from permanently depending on pharmaceutical drugs. Nutraceutical are positioning itself as natural and healthy alternative to traditional medicine in the country.
UAE Nutritional Supplements market grew at a higher single digit growth rate over the review period 2013-2018. The market growth was supported by the increasing health awareness, government initiatives, growth in the personal disposable income of the people, rise in ageing population, and preventive nature of the age group (25-45 years). The market was observed in the late growth stage and will continue to remain so in the forecasted period, 2018-2023. A change in consumption trend has been observed in the UAE health and wellness industry, wherein the consumers are focusing more on the preventive healthcare from taking health supplements in the old age to a shift in increasing consumption of supplements in the earlier ages in order to prevent them from permanently depending on pharmaceutical drugs. Nutritional Supplements are positioning itself as natural and healthy alternative to traditional medicine in the country.
Saudi Arabia's nutraceuticals market grew at a slower single-digit growth rate over the review period 2013-2018. The KSA market was evaluated at a growing varying from one product to another. Also, the market has attained maturity for prescription based vitamins and dietary supplements but the potential exists for many functional food and beverage players which can easily make their entry in the FMCG sector. Nutraceutical ingredients have positioned as a natural and healthy alternative to traditional medicine. Baby food remains the most dominant segment of the market and demand for energy drinks was negatively impacted by the imposition of sin tax (100%) and ban of sales in schools and government institutions and a complete ban on advertising.
Ken Research
Ankur Gupta , Head Marketing & Communications
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