今天分享的是：2025食品饮料行业深度研究报告：功能食品行业正重塑，新需求扩容，垂类新机频出 功能食品行业迎变革：新需求扩容催生市场新机，全年龄段渗透加速 在消费升级与健康意识觉醒的双重驱动下，中国功能食品行业正经历一场深刻的重塑。从传统中老年保健品主导的市场格局， 到如今覆盖全年龄段、融合"保健+悦己"需求的多元化生态，行业不仅保持着高于基础消费品类的增长速度，更在产品形态、消 费场景和渠道模式上不断突破，为消费者带来全新体验，也为市场注入持续活力。 从行业增长动力来看，多重因素正共同推动功能食品加速渗透。经济稳增长带动居民人均可支配收入提升，当前我国城镇居民 人均可支配收入已迈过7000美元门槛，参考全球经验，这一阶段国民健康意识进入加速提升期，为功能食品消费奠定了经济基 础。与此同时，老龄化进程持续深化，65岁以上人口占比逐年提高，中老年群体对心血管养护、关节健康、基础免疫等功能的 需求日益旺盛，成为功能食品的重度消费人群。而年轻消费群体的崛起则带来了新的消费逻辑，Z世代主导的"悦己型养生"趋势 明显，他们不再将功能食品视为"药品替代品"，而是将其融入日常休闲场景，追求健康与口感、情绪价值的多重满足。数 ...

Investment Rating - The investment rating for the industry is "Increase" for key stocks such as Xianle Health and Tongrentang [6]. Core Insights - The health consumption trend is rising, with the nutrition and health product category maintaining rapid growth. The total sales for nutrition and health products during the 618 shopping festival in 2025 are projected to reach 14.3 billion yuan, a 55% increase from 9.2 billion yuan in 2024 [1]. - Emerging channels like instant retail are performing well, with Meituan reporting over a 200% year-on-year increase in orders for health supplements [1]. - Traditional categories are expanding steadily, with high-growth segments like anti-aging and liver protection showing significant sales growth [2]. - Leading brands such as Swisse and Tongrentang maintain their positions, while new brands are emerging with competitive pricing and niche market strategies [3]. Summary by Sections Industry Overview - The nutrition and health product sector is experiencing robust growth, driven by health-conscious consumer behavior and the rise of e-commerce and new retail channels [1]. Product Categories - Key categories with strong sales during the 618 festival include infant nutrition products, special medical foods, and fish oil. Anti-aging products are among the fastest-growing segments [2]. Brand Analysis - The top brands on platforms like Tmall and JD remain consistent, with Swisse and Tongrentang leading. New entrants are gaining traction by focusing on quality and cost-effectiveness [3]. Investment Recommendations - The report suggests focusing on companies with clear competitive advantages in the contract manufacturing segment, such as Xianle Health and Baihe Shares, and high-quality brand operators like H&H International Holdings and Tongrentang [4].