MADSA Commissions Inaugural Malaysian Dietary Supplements Industry Status & Outlook Report
The Malaysian Dietary Supplements Association publishes inaugural market research data on the status and outlook of the industry in Malaysia as foreign published market research is based on remote desktop methodology.
- (1888PressRelease) August 25, 2019 - The Malaysian Dietary Supplement Association (MADSA) launched its inaugural Malaysian Dietary Supplements Industry Status & Outlook report 2019-2020 on 16 July 2019.
The President of MADSA, Muthu Shanmunghom, revealed that the Association embarked on this project early this year to assist companies involved in health supplements in Malaysia to have data which is derived locally.
The data from this Report will also be used to lobby the Government authorities to enact more favourable policies for the supplements industry. Currently, the Government imposes Sales & Service Tax on supplements but not on pharmaceuticals and herbal medicaments.
Moreover, certain supplements ingredients have import duties imposed.
In the past, there were no reliable data available to pursue such lobbying efforts.
These tend to increase the cost of supplements to consumers. The Report highlights that Malaysia has a very low consumption of supplements compared to the US, Korea, Taiwan and Australia despite supplements being acceptable and advocated within this Asian society.
Prior to MADSA commissioning this Report, data was only available from foreign market research companies. However such data were derived solely from desktop research techniques.
MADSA’s Industry Report on the other hand was derived from research conducted among Members, hence it contains both quantitative and qualitative information that will provide a more comprehensive insight into the dynamics of the local market.
MADSA anticipates commissioning updates to this Report every 3 to 5 years.
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