Research Nester has released a report titled “China Nutritional Supplement Market –Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the China nutritional supplement market in terms of market segmentation by distribution channel.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The China nutritional supplement market is segmented by distribution channel into online and offline. Rising number of individuals using the internet in the nation along with the numerous benefits involved in online distribution channels as compared to offline distribution channel are some of the factors believed to benefit the growth of the online distribution channel segment in the China nutritional supplement market. In the statistics by the World Bank, the total number of individuals using the internet (% of population) is anticipated to reach 54.30% from 50.30% in-between the years 2015-2017. Further, offline distribution channel is further sub-segmented into supermarket or hypermarket, pharmacies and others.
The China nutritional supplement market, which accounted for a value of USD 27.6 billion in the year 2018, is anticipated to achieve a CAGR of 14.45% during the forecast period 2020-2027. Factors such as growing number of working women populations across Asia Pacific region, rising disposable income of China, along with the launch of new, advanced, and cost-effective nutritional supplements products into the market in the recent years are some of the factors anticipated to promote towards the growth of the China nutritional supplement market. Further, the market is anticipated to reach a value of USD 87.7 billion by the end of 2027. The market is also thriving on the back of increasing awareness for the side effects of consuming chemical-based skin, eye or healthcare pharmaceutical products, rising demand for natural, gluten-free nutraceuticals observed in the recent years, rising research and development in the field of dietary supplements along with the increasing investments by in-house giant players in the nutraceutical market.
Growing Concern For Chronic Health Diseases
In the statistics by the World Health Organization (WHO), in the year 2016, 17.9 million people, which represented around 31% of the total global deaths, were estimated to die from CVSs. Additionally, around 85% of these deaths were predicted due to heart attack and stroke, coupled with unhealthy diet.
Rising concern for health diseases amongst people is raising the need for consumption of healthy diet. A balanced diet helps to keep the body healthy, fit and immune to diseases. Nutritional supplements provide relief from several chronic diseases and ailments to its consumers. Growing demand from consumers for the preference of consuming a healthy diet is raising the need for nutritional supplements. On the other hand, food manufacturers are increasingly taking this opportunity to manufacture food products which are rich in nutrients and minerals and provide an appropriate diet. Moreover, it has also been observed that the businesses operating in the nutritional supplements market earn relatively huge profit margins, which is gaining focus of several new players to participate in the competition. Additionally, growing aging population, presence of a large population in China, growing number of chronic diseases amongst individuals and the concern to cure those diseases by the intake of healthy diet are some of the factors anticipated to drive the growth of the China nutritional supplements market.
However, concerns regarding the regulations and complicated testing regimes on nutritional supplements in the nation and the fear of availability of counterfeit products are some of the factors anticipated to limit the growth of the China nutritional supplement market.
This report also provides the existing competitive scenario of some of the key players of the China nutritional supplement market, which includes company profiling of Swisse Wellness, Nestle Health Science, Bayer AG, Yakult Honsha Co., Ltd., DSM, Pfizer Inc. and Danone S.A. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the China nutritional supplement market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.