Megatrends: Wellness - Mapping Key Opportunities in Asia Pacific

February 2022

Evolving priorities around self-care and prevention are fueling demand for wellness across the world, with Asia Pacific being no exception. Further investment in dietary supplements, sports nutrition and healthy food and beverages become more relevant and so are prospects for commercializing traditional healing concepts deeply embedded in the region. This report highlights drivers and long-term opportunities for business competing or looking to enter the wellness market in Asia Pacific.

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Key Findings

The upward momentum in wellness continues

Rising awareness of the importance of holistic wellness is fueling demand for wellness propositions across the world, with Asia Pacific being no exception. The underlying forces that propel the growth in the region are as compelling as ever, including growing middle classes, population aging, and higher consumer interest in healthy lifestyles.

Regulatory and public health initiatives drive expansion

Health promotion and disease prevention programs at a national scale have been key factors in supporting a healthy life expectancy. Governmental regulatory initiatives around the supply of more health-oriented ingredients and food fortification to address nutrient deficiencies, are boosting accessibility and product proliferation.

The fastest growing wellness markets globally will be in Asia Pacific

Despite the overall Asia Pacific region being characterized by very low expenditure on wellness, Japan, Hong Kong, Singapore and South Korea are among the top 10 spending countries globally. Eight of the top 10 fastest growing global markets for wellness per capita spend in the next five years will be in Asia Pacific.

Traditional medicine for modern times

Asia Pacific has a strong and deeply embedded culture in traditional healing and holistic wellness. In a number of countries traditional medicine is integrated into mainstream health care systems. This signifies large prospects for commercializing both local and international wellness-oriented concepts in the region.

Utilising the dominance of supplements to the benefit of further category expansion

Opportunity spaces in Asian markets with a higher penchant for dietary supplementation present themselves in more targeted product development in the area of fortified/functional nutrition, naturally healthy and better-for-you product offerings, as well as expansion in less penetrated segments such as sports nutrition and weight management

 

Scope
Key findings
Wellness Megatrend
Evolution of wellness underpinned by new values and priorities
Wellness Megatrend: a world snapshot
Asia Pacific is home to the fastest growing wellness markets globally
Asia Pacific bucks the wellness megatrend
Increasing the proportion of life spent in good health in context of rising life expectancy
High expenditure growth in emerging Asian markets to fuel overall regional dynamics
Traditional medicine for modern times
Opportunities in Asia Pacific linked to supplementation and healthy food and beverages
Traditional medicine supports strong penchant for dietary supplementation
Regulatory initiatives drive further penetration of sports nutrition
Mixture of product claims allow for multiple benefit expressions
Wonderlab : blurring flavor and functionality
BuffX : health supplements get snackified
Collagen’s halo effect across multiple product segments bridges inner and outer beauty
South Korea, Singapore and Hong Kong expected to lead spending in key wellness categories
Wellness in action: novel ingredient combinations and holistic benefits
Age-related conditions a health priority for consumers in China
Wellness in action: innovative formats gain popularity
Key takeaways
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