Core Insights - The domestic nutrition and health food industry in China has significant long-term development potential [1] Industry Overview - The scale of China's nutrition and health food industry exceeds 35 billion USD, with a rapid growth rate [1] - The current concentration of the industry is low, providing opportunities for certain downstream brands and leading contract manufacturers to increase their market share [1] Market Dynamics - The industry is characterized by stratification, where the quality market builds a competitive moat through "big single products + R&D advantages" [1] - The new consumption market focuses on "demand insight + category innovation + online capabilities" [1]