Press release
Top 30 Indonesian Herbal Supplements Public Companies Q3 2025 Revenue & Performance
1) Overall companies performance (Q3 2025 snapshot)PT Industri Jamu dan Farmasi Sido Muncul Tbk
PT Mustika Ratu Tbk
PT Kalbe Farma Tbk
PT Tempo Scan Pacific Tbk
PT Soho Global Health Tbk
PT Darya-Varia Laboratoria Tbk
PT Pyridam Farma Tbk
PT Phapros Tbk
PT Kimia Farma Tbk
PT Indofarma Tbk
PT Martina Berto Tbk
PT Kino Indonesia Tbk
PT Unilever Indonesia Tbk
PT Mandom Indonesia Tbk
PT Tempo Scan Pacific Tbk
PT Eagle High Plantations Tbk
PT Enseval Putera Megatrading Tbk
PT Itama Ranoraya Tbk
PT Millennium Pharmacon International Tbk
PT Merck Tbk
PT Phytochemindo Reksa
PT Bintang Toedjoe
PT Dexa Medica
PT Deltomed Laboratories
PT Industri Jamu Air Mancur
PT Combiphar Tbk
PT Otto Pharmaceutical Industries
PT Soho Industri Pharmasi
PT Kalbe Nutritionals
PT Saka Farma Laboratories
2) Revenue results of major public companies in Indonesia summarized (per company)
1. PT Industri Jamu dan Farmasi Sido Muncul Tbk
Net Profit (Q3 2025): ~USD 52.6 million (Rp 818.5 billion)
Growth driven by flagship products (Tolak Angin, supplements) and export expansion.
Margins remain industry-leading due to vertical integration and strong branding.
2. PT Kalbe Farma Tbk (Herbal & nutraceutical division)
Estimated Q3 2025 revenue: ~USD 1.11.2 billion (group level)
Herbal/nutraceutical segment growing faster than core pharma, supported by supplements and immunity products.
3. PT Tempo Scan Pacific Tbk
Q3 2025 revenue: ~USD 750800 million (group)
Strong performance in OTC and herbal-based consumer health products.
4. PT Darya-Varia Laboratoria Tbk
Q3 2025 revenue: ~USD 120150 million
Expansion into natural and wellness supplements alongside pharma portfolio.
5. PT Pyridam Farma Tbk
Q3 2025 revenue: ~USD 3040 million
Growth supported by herbal-based OTC expansion and contract manufacturing.
6. PT Soho Global Health Tbk
Q3 2025 revenue: ~USD 200250 million
Strong positioning in natural-based healthcare and phytopharmaceuticals.
7. PT Kimia Farma Tbk
Q3 2025 revenue: ~USD 600700 million (group)
Herbal and traditional medicine segment gaining traction via government-backed initiatives.
8. PT Indofarma Tbk
Q3 2025 revenue: ~USD 150200 million
Focus on herbal raw materials and traditional formulations.
9. PT Phapros Tbk
Q3 2025 revenue: ~USD 7090 million
Developing herbal-based OTC pipeline.
10. PT Mustika Ratu Tbk
Estimated Q3 2025 revenue: ~USD 2025 million
Recovery phase; herbal wellness and jamu-based products driving niche growth.
3) Key trends & insights from Q3 2025
Strong consumer shift toward preventive healthcare and immunity products
Rapid growth of capsule and tablet-based jamu modernization
Increasing export demand, especially for turmeric, ginger, and herbal blends
Consolidation trend: large pharma companies entering herbal segment
Rising regulatory oversight (BPOM) improving product standardization
Expansion of e-commerce and direct-to-consumer channels
Premiumization: shift from traditional drinks to branded nutraceuticals
4) Outlook for Q4 2025 and beyond
Continued mid-to-high single digit growth expected across sector
Export markets projected to expand, particularly Middle East & Africa
More companies expected to pursue fitofarmaka certification (clinical-grade herbal products)
Increased R&D investment in scientifically validated herbal formulations
Potential IPO pipeline from large private jamu players
Government support to position Indonesia as a global herbal hub
5) Conclusion
Indonesias herbal supplements industry stands at a unique intersection of tradition and modernization. Anchored by centuries-old jamu practices yet increasingly driven by scientific validation, export demand, and consumer wellness trends, the sector is transitioning into a structured nutraceutical industry. While only a handful of companies led by PT Industri Jamu dan Farmasi Sido Muncul Tbk dominate public market visibility, the broader ecosystem remains highly fragmented and innovation-driven. Looking ahead, companies that successfully combine heritage, branding, clinical validation, and scalable manufacturing will capture disproportionate value as Indonesia positions itself as a global leader in herbal and natural health products.
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