Investment Rating - The report does not provide a specific investment rating for the health supplement industry Core Insights - The health supplement industry in China is experiencing robust growth driven by increasing consumer demand, particularly among the younger generation for imported and functional health products. The market is expected to continue expanding, with significant opportunities arising from the "big health strategy" despite challenges such as stricter regulations and the need for industry transformation [3][8][12]. Industry Definition - The health supplement industry in China encompasses the production and sale of various health products, which are defined as foods that claim to have health benefits or are intended to supplement vitamins and minerals. These products are designed for specific populations and aim to regulate bodily functions without treating diseases [4]. Industry Classification - Health supplements can be categorized based on their efficacy, including immune regulation, anti-aging, memory improvement, growth promotion, fatigue resistance, and nutritional supplementation [6]. Industry Characteristics - The health supplement industry is characterized by strong consumer demand, high regulatory barriers, and innovative business models. The per capita healthcare expenditure in China was 2,120 RMB in 2022, accounting for 5.75% of disposable income, with a growing recognition of health supplements among consumers [8][9][10]. Development History - The health supplement industry in China has evolved through several stages, from rapid growth in the late 1980s to increased regulation and market consolidation in recent years. The industry is currently in a recovery phase, with significant potential for growth driven by rising health awareness and technological advancements [12][13][18]. Industry Scale - The market size of the health supplement industry grew from 257.4 billion RMB in 2018 to 312.9 billion RMB in 2023, with a compound annual growth rate (CAGR) of 3.98%. It is projected to reach 379.66 billion RMB by 2028, with a CAGR of 3.63% [35][36]. Competitive Landscape - The health supplement industry in China features a diverse competitive landscape with over 16,510 companies and a production volume of 852,100 tons as of early 2024. The market is characterized by high competition and a wide variety of product categories, including dietary supplements and traditional remedies [21][26][27]. Supply Chain Analysis - The supply chain for health supplements includes upstream raw material suppliers, midstream manufacturers, and downstream sales channels such as e-commerce platforms and physical stores. The industry benefits from a rich variety of raw materials, with China being a strong competitor in the production of vitamins and amino acids [19][20][22]. Consumer Trends - Consumer awareness and demand for health supplements are increasing, with 72% of respondents viewing them as nutritional supplements. The demographic for health supplements is expanding beyond older adults to include younger consumers, particularly women, who are driving growth in online sales channels [30][34][50].
尊享健康盛宴：生活保健品精粹与科学养生未来 头豹词条报告系列
Tou Bao Yan Jiu Yuan·2024-09-06 12:10