Singapore Nutritional Supplements

Singapore’s health supplements market is estimated to be worth $202.8 million in 2024 and its annual growth rate is projected to be 3.81%, according to research firm, Statista.  The top five major suppliers are the U.S., Switzerland, France, Germany, and China.  The U.S. is an important player and accounts for approximately 20% of retail sales. This trend is likely to continue as U.S. brands and manufacturing command a premium.  Singapore Import Statistics show that in 2023 Singapore imported $15.54 million worth of vitamins and minerals from the U.S. Total imports in 2023 stands at $196 million, approximately 60% of this is said to be re-exported to the region as Singapore serves as a transshipment hub.    

Singapore’s relatively strong economy, hectic lifestyles, and awareness of one’s well-being has fueled the growth in health supplements.  A notable trend is the increasing popularity of organic and natural products.  Consumers are discerning about the ingredients and labeling of products that they consume.  There is also a growing awareness of mineral deficiencies such as D3, magnesium and iron, and more consumers are taking tests to measure these and supplementing their diets through vitamins and mineral consumption.  Best prospects categories include multivitamins, vitamin C, fish oils, sports nutrition, joint care and bone-mineral enhancements, trace minerals, gut health and probiotics, weight management, skin and hair health, brain function and stress relief.  Innovative supplements with scientifically proven benefits are sought after and can be tailored to target specific demographics such as for children, the elderly or silver market, by gender and life stages.  

The typical distribution system is through established distributors who market through pharmacy chain stores, departmental stores, physician channels and neighborhood medical halls. The major chains are Guardian, Watsons, and Unity.  Combined, they command 80% of retail sales with stores also sited at the airport to capture the traveler market.  As doctors here are permitted to prescribe and dispense medicines, clinics do offer health products to their patients.  Increasingly, Singapore firms are branding supplements under their own brands which has given rise to a demand for companies that manufacture for private label.  U.S. companies who are flexible in this regard would do well in this market though they need to offer lower minimum optimum quantities.    There are also stand-alone health food chain stores such as LAC and Nature’s Farm who have a loyal clientele as they offer promotions and membership privileges.  There is also a sizeable market for multi-level marketing, but these generally belong to the very established brands.  They include Amway, Herbalife, NuSkin and local brands like Best World and Forever Living. E-Commerce is also fast gaining traction with firms like I-Herb and Lazada being popular with consumers.  

Health supplements are currently not subject to approvals and licensing by the Health Sciences Authority (HSA).  The HSA however prohibits the addition of medicinal ingredients in health supplements.  Importers and distributors are thus encouraged to notify the HSA of their health supplements supplied in Singapore and provide documents to demonstrate that their products meet the safety and quality standards.  

For more information, U.S. companies may contact Ms. Luanne Theseira at the U.S. Commercial Service in Singapore.