Core Insights - The health nutrition industry is undergoing structural transformation due to heightened health awareness, stricter regulations, and a return to rational consumption, leading brands to adjust pricing, optimize inventory, and focus on channel and profit model reconstruction [1][2]. Industry Overview - The health nutrition industry is entering a high-quality development phase in 2024, driven by policy, economic, capital, and technological synergies [10]. - Regulatory bodies are enhancing the registration and filing standards for health nutrition products, increasing oversight across production and sales [11]. Product Category Situation - The industry is focusing on four core consumer groups: middle-aged working individuals, high-net-worth individuals, rehabilitation needs, and the elderly [52]. - Key product categories gaining attention include immune enhancement, joint and bone care, and probiotics, while categories like anti-aging are experiencing a decline [54][56]. Financing Trends - In 2024, the number of financing events in the health nutrition industry decreased, but the total financing amount increased, with upstream companies, particularly probiotic suppliers, being favored by investors [16][17]. - The financing amount rose by 3.21 billion yuan despite a reduction in the number of financing events [18]. Sales Channel Dynamics - Private domain e-commerce has surpassed traditional pharmaceutical chains for the first time, with platforms like Douyin Global Purchase emerging as significant players in the cross-border B2C market [2][30]. - Retailers are increasingly adopting a "direct procurement" model, with over 25% of retailers sourcing products directly from manufacturers [31]. Strategic Adjustments - In response to market pressures, 60% of small and medium-sized enterprises are reducing R&D investments and shifting towards OEM models to maintain cash flow [27]. - Major brands are enhancing their channel, product, and marketing strategies, focusing on dual strategies of high-end and affordable products [26]. Consumer Preferences - The average transaction price for core products in the health nutrition sector has significantly decreased, with 31% of companies reporting prices in the 50-100 yuan range in 2024, up 17.22% from 2023 [14][15]. - The demand for personalized and functional health products is rising, particularly among younger consumers and new parents [81][84]. Future Outlook - By 2025, nearly 42% of companies anticipate that tightening policies and consumer downgrade will hinder rapid growth in the industry [35]. - Brands are expected to shift their focus towards value-driven strategies, including price adjustments and new channel explorations, to sustain growth [37][41].