Nutritional supplement market in China
Nutrition supplements are substances that provide adequate amounts of essential nutrients required for the better functioning of human bodies. It contains vitamins, proteins, herbs, meal supplements, sports nutrition and other related products that are used to improve the nutritional content of the diet. They are added to the diet to boost overall health and energy, provide support to the immune system and reduce the risk of illness. The nutritional supplement market in China is expected to reach USD 40 Bn by 2023 growing at a CAGR of 14%. According to a report issued by the consulting firm Roland Berger, China may soon overtake the U.S.A. as the most significant nutritional supplement market in the world.
China nutritional supplement market is classified by type of ingredients and by type of end users. By type of ingredients, it is further sub-classified into vitamin, protein, amino acid, enzyme and botanical supplements .By type of end users, it is further classified into infants and adults. Vitamin supplements grab the highest market revenue among nutritional ingredients due to increasing interest in prenatal and infants’ supplements.
Key growth factors
Increasing health-conscious behaviour, rising incidence of lifestyle diseases, the country’s growing per capita GDP, shifting trend towards preventive healthcare, use of botanicals due to their medicinal benefits and growth in e-commerce have contributed to the demand for nutritional products.
Threats and key players
Stringent regulatory frameworks, regarding registration of the products under China Food and Drug Administration (CFDA), competition from the local brands are some of the challenges. The key players operating in the nutritional supplement market are Swisse, Blackmores, Amway Corporation, Abbott Nutritionals, Nestle Nutritionals and Nu Skin.
What is covered in the report?
1. Overview of the nutritional supplement market in China.
2. Market drivers and challenges in the nutritional supplement market in China.
3. Market trends in the nutritional supplement market in China.
4. Historical, current and forecasted market size data for segments based on type of ingredients (vitamin, protein, amino acid, enzyme and botanicals supplements).
5. Historical, current and forecasted market size data for segments based on type of end users (infants and adults).
6. Analysis of the competitive landscape and profiles of the major companies operating in the market.
o Understand the demand for nutritional supplement market in China to determine the viability of the market.
o Identify the developed and emerging markets where nutritional supplement market in China is sold.
o Identify the challenge areas and address them.
o Develop strategies based on the drivers, trends and highlights for each of the segments.
o Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed.
o Recognize the key competitors of this market and respond accordingly.
o Knowledge of the initiatives and growth strategies taken up by the major companies and decide on the direction for further growth.
o Define the competitive positioning by comparing the products and services with the key players in the market.