04 September 2019
Visiongain has launched a new food & beverage report: Chinese Dietary Supplements Market Report 2019-2029 Forecasts by Ingredients (Vitamins, Botanicals, Minerals, Proteins & Amino Acids, Fibers & Specialty Carbohydrates, and Others) by Form( Tablets, Capsules, Soft gels, Powders, Gummies, Liquids, and others) by End-user (Adults, Geriatric, Children, Infants and Pregnant Women) PLUS Profiles of Leading Companies
Dietary supplements represent the largest category within overall vitamins and dietary supplements in China, which continued to outpace the growth of vitamins in 2018. From 2017, a series of policies which accelerated the growth of consumer health was announced by the government; by the National Development and Reform Commission, in addition to The State Council of the People’s Republic of China. Thus supportive government policies are significantly driving the growth of Dietary Supplements in China. Moreover, by categories glucosamine is projected to expand with significant CAGR over the forecast period. By end-user Infants and children, sub-segment are representing double-digit growth rate over the forecast period 2019-2029. In 2018, the growth is primarily supported by the widely executed two-child policy since 2016, which stimulated domestic demand for such dietary supplements in the local market. Further, parents in China are becoming ever more judicious in the purchase of dietary supplements for their children, along with improving consumer education and affordability, driven by rising disposable incomes even in lower-tier regions across China.
Some of the major companies operating in the Chinese Dietary Supplements market are Infinitus, Amway, Tiens, By-health, Perfect, Pfizer Inc., Suntory Holdings Ltd, Glanbia PLC, Glaxosmithkline PLC, Abbott, Bayer AG, Otsuka Holdings Co. Ltd, Sanofi and DEEJ. One of the major trend identified in the competitive landscape is domestic brands accelerated their moves to acquire the stock of renowned international brands across dietary supplements at regional and even global scale. For instance, By-health announced the acquisition of Life-Space Group, one of Australia’s leading consumer health enterprises. Also, manufacturers in dietary supplements, international brands are recognizing the vital role of channel optimisation in retailing, maximising local consumers’ access to dietary supplements through appropriate channel expansion.
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Some of the key factors propelling the market include the increasing vitamin deficiencies, growing awareness regarding the health benefits of vitamin supplements, and rise in disposable income in developing countries of the region.
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