Overview

On August 18, 2009, Philippines FDA came up with the new law strengthening the Regulatory capacity of the Bureau of Food and Drugs (BFAD) to ensure the safety, quality, and efficacy of medicines and other health products. Philippines nutritional supplements market is driven by robust demand for herbal supplements and is fully regulated under the FDA Philippines. As per Administrative Order No. 37 s. 1979: Imported food products are required to be registered with BFAD prior to their distribution in the domestic market (Philippines). License to Operate (LTO), the importer is required to obtain from the exporter and should be authenticated by the Philippines Consulate in the country of origin. A local company in the Philippines must secure a License to Operate (LTO) from Bureau of Food and Drugs (BFAD) before applying for product registration.

The nutraceuticals market of Philippines is presently in its early growth stage due to the dependence on traditional pharmaceutical medicine system by growing middle class population. Philippines Nutraceutical market basically can be divided into 3 major categories:

• Vitamins and Dietary supplements
• Functional Beverages
• Functional Foods

Freyr recommends that the companies operating in nutraceuticals market can expand their market share to Philippines and increase revenue generated by focusing on product innovations for vitamins and dietary supplements, launch new flavour variants for functional foods and beverages and undertake online channels of distribution for their products. Freyr assists manufacturers to enter the Philippine market complying with FDA Philippines regulations.