The demand for health supplements has skyrocketed in Malaysia and around the world in recent years. The demand for Halal-certified Supplements keeps rising as more people show an interest in maintaining their health. Health products with vitamins, minerals, food ingredients, and herbs are popular health items (botanicals). These medications are available over-the-counter and often come in pill, powder, or liquid form.
There are a variety of ways to take advantage of this trend if you run an online store. Continue reading to learn some of the most effective ways to capitalize on the sizeable nutritional supplement market and increase your sales in this sector.
Rise of the health supplements
The health supplement market is expanding, and there are no signs that it is about to slow down.
According to Fortune Business Insights, the market for health supplements worldwide was valued at US$61.2 billion in 2020. It is anticipated to increase by 8.68% from US$71.81 billion in 2021 to US$128.64 billion in 2028. The top-selling vitamins and supplements in the Asia Pacific region, according to NutraIngredients, a leading online news source for the nutrition industry, are:
- Nicotinamide Mononucleotide (NMN), also known as the “longevity pill”
- Halal-certified supplements
- Vitamin D
- Red ginseng
Numerous factors have contributed to the market for nutritional supplements expanding. These include the COVID-19 virus spreading more widely, a rising understanding of the value of a healthy diet, and technological advancements in dietary supplements.
1. The spread of COVID-19 is increasing
Many people are using health supplements to strengthen their health and ward off the disease as COVID-19 is becoming more widely distributed. According to the National Institutes of Health Office of Dietary Supplements, despite the lack of evidence, customers continue to use these products to prevent or treat COVID-19. They feel more at ease knowing that these products can improve their health and strengthen their immune systems.
2. A greater understanding of the value of a healthy diet
More people are becoming aware of the fact that what we eat directly affects our general health and well-being. To obtain the nutrients they require, many people use nutritional supplements. Getting enough nutrition has been associated with lowered risks of chronic disease development, greater mental health, and all-around increased well-being.
3. Innovations in the field of supplements
Consumers now have access to more potent health supplements than ever before thanks to technological advancement. Traditional supplements, for instance, are coupled with new, more cutting-edge advances. Consumers no longer need to take as many capsules or tablets each time because of technological advancements like micro and nano encapsulations, according to biotechnology company Natac.
How online retailers can access supplements in the global market
There is a lot of potential for Malaysian e-commerce enterprises in this expanding sector. This gives a fantastic chance for company owners to capitalize on the worldwide health supplement trend and launch new goods or services that target this market.
1. Market and offer premium health supplements that are supported by research
False supplements that are made with cheap ingredients and not tested or approved by regulatory bodies are a constant problem for the industry. Businesses build a solid foundation of trust that can help them sell more products by only providing and marketing high-quality health supplements that are supported by scientific research.
2. Work with other fitness-related firms
It’s a good idea to promote market supplements in fitness-related businesses like studios because they can lend credibility to your items. Additionally, many fitness-related enterprises already have a clientele of global health and wellness enthusiasts. By working with them, e-commerce companies can connect with a completely new audience of potential clients and increase brand recognition, which may result in more future sales chances.
3. Invest in expanding markets
The sale of health items like vitamins and nutritional supplements is a significant industry. For increased success, e-commerce companies might gain from locating and entering increasing markets. These include Germany, Poland, Italy, and North America.
It’s crucial for business owners to be informed of market trends so they can take advantage of them. There are numerous methods to capitalize on the substantial expansion the health supplement market is seeing. Adding supplements to your inventory could be a terrific way to increase sales and expand your business, whether you sell goods online or in person.
How Else Can You Reach These Supplements Consumers?
While long-term market entry assistance from large retailers like Watsons or Guardian is possible, advertising your products on general eCommerce platforms will enable you to quickly assess whether there is a market for your health supplements in Malaysia. Among these leading platforms are things like:
- Shopee (25 million monthly web visits in Q3 2019)
- Lazada (18 million monthly web visits in Q3 2019)
- Lelong (2.2 million monthly web visits in Q3 2019)
- Zalora (1.3 million monthly web visits in Q3 2019)
- PG Mall (876 thousand monthly web visits in Q3 2019)
A special area of the websites of platforms like Shopee and Lazada is devoted to showcasing health and beauty products. You can be sure that a lot of Malaysian internet buyers will view your products thanks to the high traffic volume. You can opt to participate in the promotional campaign to draw more customers to your product since these platforms frequently offer promotional discounts to incentivize customers to shop more on their platforms, such as Shopee’s Health & Beauty Wednesday.
When you take part in their promotional campaigns, well-known general eCommerce platforms can also serve as a marketing channel for your goods. However, if you’re wanting to grow your digital footprint, social media is a terrific way to connect with customers. According to Hootsuite/We Are Social’s 2020 research, 81% of internet users in the nation utilize social media, spend an average of 2 34 hours per day on the site, and have an average of 9 accounts.
It is crucial to have a reliable eCommerce logistics partner to deliver your products from your customers’ initial clicks all the way to their doorstep in order to tie up your eCommerce experience for Malaysian customers. All types of merchants can benefit from the international shipping process being made simpler by eCommerce platforms and logistics service providers who are knowledgeable about Malaysia’s customs requirements.
The eCommerce experience of your online customers is rounded off by a dependable delivery, guaranteeing that you are able to win them over as you enter this competitive market.