Nutrition & Health Industry Analysis 2014-Issues & Trends
date:2014-03-05
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The health care industry, known as a global sunrise industry, has grown rapidly in recent years. Take health food for example, the global sales reached $100 billion. With health-conscious population increasing and living standers improving, China's health product market is booming with a bright future.
Prospects
Health care industry is a sunrise industry in China.
1.Self-care is a trend, creating a broad market space for the development of the health industry.
2.China's rapid economic development leads to an increase of people's disposable income, further expanding consumption population.
3.The demand for health care products increases due to our aging population.
4.Fierce competitions make health products affordable for common consumers.
The demand for health products is steadily on the rise, but the contradiction is very prominent. On one side, consumers demand more authentic health products with obvious efficacy; On the other side, only a few products of that kind are available on the market. This contradiction determines the evolution of China's health product market.
1.Further divided
Consumer groups are diverse, reflected in demand evolving beyond city gradually to rural areas, consumers evolving beyond the elderly and children to the young and women, spending beyond after disease to some season and all year, purposes beyond preventing and curing disease to anti-aging, beauty and fitness puzzle.
2.Brand-conscious consumers
As consumption concept changes, health products turn into a necessity for many people. Consumers began to prefer branded health products. A market survey shows that when purchasing health foods, consumers are more concerned about product function and brand reputation.
3.Heavier competitive pressures
Foreign health products sales rose in China at an average annual growth rate of more than 12 percent in the past 5 years. Foreign health products continue to be hot in the following years. China's health product market is being nibbled by foreign counterparties. You can see Fish oil, Lecithin and other products from the U.S. for sale anywhere in China, and a batch of new products are ready to enter domestic market......The competition is fiercer in China.
Trends
There are two categories of health products on mainstream in China, one is functional food synthesized by modern high technology, the other is nutritional food rooted in traditional Chinese culture, whose packaging and edible method are similar with food. The trends in recent health product market are followed:
1.Health products based on new resources are favorable to consumers. With continuous innovation and increased awareness, entrepreneurs tend to launch more products based on new resources to meet demand. This is featured by insects, marine biology and traditional Chinese medicine. The promising products available include Chitin, Gynostemma, Fish oil, Spirulina and Gingko.
2.Genetically modified foods may boom in the future. Amino acids and nucleic acid products perform well on the market.
3.Soft capsules and oral liquid become a new trend. They are both portable and hygienic.
Copyright:Herbridge Media
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