China Nutritional Supplement Market Trends 2023- Industry Share-Size, Growth Drivers, Key Players, Business Challenges, Opportunities and Future Competition Report 2033: SPER Market Research
Products known as nutritional supplements offer the nutrients in appropriate amounts for ideal physiological performance. It includes ingredients that are added to food to increase its nutritional value, including vitamins, proteins, herbs, meal supplements, sports nutrition, and other things of a like. They are included in the diet to increase vitality and overall health, support the immune system, and lower the risk of sickness.
According to SPER market research, ‘China Nutritional Supplement Market Size– By Product, By Consumer Group, By Formulation, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the China Nutritional Supplement Market is predicted to reach USD 89.63 billion by 2033 with a CAGR of 10.24%.
The nutritional supplement market in China keeps expanding due to a number of factors. First of all, individuals are prioritising their health and spending money on nutritional supplements as a result of a growing public awareness of health and wellbeing. This trend is being driven by rising purchasing power and evolving lifestyles. Second, as the population in China ages, there is a greater demand for nutritional supplements to meet the population’s evolving dietary needs. Last but not least, urbanisation and lifestyle changes have had an impact on dietary patterns, with city dwellers consuming more processed foods and having less access to nutritious meals. As a result, this demographic is becoming more and more interested in nutritional supplements to make up for nutritional deficiencies.
Numerous obstacles impede the nutritional supplement sector in China. Starting off, the regulatory landscape is complicated and strict, governed by laws like the Food Safety Law and the Health Food Registration Regulations. Companies may discover that complying with these requirements, which require product registration and certifications, takes a lot of time and money. Second, the prevalence of fake goods is a cause for worry because they damage consumer confidence and present health risks. The introduction of fake or inferior supplements could damage the reputations of respectable brands. Finally, there are consumer doubts regarding the effectiveness and safety of nutritional supplements, which are fuelled by negative media coverage, questions about the calibre of the products, dishonest advertising, and false information.
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Impact of COVID-19 on China Nutritional Supplement Market
Additionally, the COVID-19 outbreak and the ensuing lockdowns have altered consumers’ preferences for supplements that offer health advantages. Despite the fact that businesses have used a number of tactics with varying degrees of success to fulfil these new needs, the top twelve companies in China’s supplement sector have kept their positions. E-commerce is one of the most significant forces influencing the Chinese supplement industry. The long-term impact of e-commerce on consumer supplement purchasing patterns is anticipated. Seniors are expected to be the population most at risk for serious health problems as a result of COVID-19. As a result, there’s a likelihood that dietary supplements will be created to fulfil the needs of seniors in terms of their health, such as supplying them with the micronutrients they need to keep their immune systems strong and preserve optimal health.
China Nutritional Supplement Market Key Players:
According to a report from the consulting firm Roland Berger, China may soon surpass the USA as the world’s largest market for dietary supplements. Additionally, some of the market key players are Abbott Nutritional, Amway Corporation, Nestle Nutritional, Nu Skin, Herbalife Nutrition, H&H Group, Tong Ren Tang, Others.
China Nutritional Supplement Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Product: Based on the Product, China Nutritional Supplement Market is segmented as; Sports Nutrition (Sports Food, Sports Drinks, Sports Supplements, Others), Fat Burners (Green Tea, Fiber, Protein, Green Coffee, Others (Turmeric, Ginseng, Cranberry, Garcinia Cambogia) ), Dietary Supplements (Vitamins, Minerals, Enzymes, Amino Acids, Conjugated Linoleic Acids, Functional Foods, Probiotics, Omega-3), Others.
By Consumer Group: Based on the Consumer Group, China Nutritional Supplement Market is segmented as; Infant, Children, Adults, Pregnant, Geriatric.
By Formulation: Based on the Formulation, China Nutritional Supplement Market is segmented as; Tablets, Capsules, Liquids, Softgels, Powders, Others.
By Distribution Channel: Based on the Distribution Channel, China Nutritional Supplement Market is segmented as; Chemists/Pharmacists, Direct-to-Consumer Sales, E-commerce.
By Region: This report also provides the data for key regional segments of North China, Northeast China, Northwest China, South China, Southwest China, Middle China, East China.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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China Nutritional Supplement Market Growth Opportunity
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