ASEAN (Association of Southteast Asia Nations) is the union of 10 countries including Brunei, Cambodia, Indonesia, Lao, Malaysia, Myammar, Philippines, Singapore, Thailand and Vietnam. It was founded in 1967 in Bangkok with the purpose to promote collaboration on matters of common interest in the economic, social, cultural, technical, scientific and administrative fields among its members.
Thailand, Singapore, Malaysia, Singapore and Philippines and Indonesia were the founders of ASEAN. In later years the rest of the countries joined the association. The total population is currently more than 600 Million, almost 9% of world’s population, even more than the European Union.
The combined GDP (Gross Domestic Product) is around USD 2.6 Trillion. If ASEAN were a single country it would be the sixth largest economy in the world, behind the USA, China, Japan, Germany and UK. Currently, the average GDP growth is 4.8% at constant price. A this point a model like the European Union, with a unique border, one currency and a Central Bank, is still far away, but in the minds of all these countries is the idea of one day becoming something similar.
The level of prosperity is growing in all ASEAN countries. The spending power as well. The foods supplement industry is also benefited from this prosperity period. The percentage of population that is aware of the benefits of a prevention solutions rather han cure and can afford to spend money on nutraceuticals is also growing. Monteloeder has a regional office in Malaysia to be closer to the customers of this area. We believe that being close to the customers we can understand better the needs and therefore serve them better.
In ASEAN, same as the rest of Asia, there is a big preference for beauty products, not only topical but also oral. Beauty from within is one of Monteloeder’s backbones. Right now we have two succesful ingredients, one is for whitening (O’Live) and the other one is for sun protection (Nutroxsun™), but we continue working to bring more innovative beauty concepts to the market as same as Asia in other parts of the world stadistics show that oral beauty products continue growing.
Vice President, Sales