Indonesia, located in Southeast Asia, is the world’s largest island country, formed by more than thirteen thousand islands. The population is estimated to be around 261 million people, making it the world’s 4th most populous country.
According to The World Bank, the GDP of the country grew 5.2% in 2017 and is expected to grow another 5.3% in 2018. This giant is waking up.
The improvement in the macroeconomic conditions is favoring the development of a wider middle and high-income group of consumers that are contributing to expanding the nutraceutical industry. The consumption of food supplements per capita is still quite low compared to other countries in Asia like Japan or Korea but the people are becoming more and more aware of the importance of prevention rather than cure. We have to say that the companies of the industry are the main responsible for this change in people’s perception. They are doing a big effort to educate the consumers.
Given the size of the population of this country and the level of economic growth every year, there is no doubt Indonesia’s nutraceutical industry will become one of the most important in Asia.
Monteloeder has a regional office in Malaysia to be closer to the customers of this area, like Indonesia. We believe that being close to the customers we can understand better the needs and therefore serve them better.
Ignacio Cartagena
Vice President, Sales
Source:
The World Bank
Wikipedia
