如何看待保健品行业近期变化

Summary of Key Points from the Conference Call on the Health Supplement Industry Industry Overview - The health supplement industry is undergoing significant regulatory changes in China, particularly concerning cross-border health food policies. [1][2][14] Core Insights and Arguments - A negative list for cross-border health food ingredients is set to be officially released on June 1, 2026, potentially affecting around 20 types of ingredients that are popular overseas but not approved domestically. [1][6] - The regulatory crackdown on "one-day tours" from Hong Kong and counterfeit brands is intensifying, requiring proof of origin, free sale certificates, and first-leg logistics information for all inbound products. [1][2] - From March 1, 2026, the sale of "three products and one device" (food, health food, drugs, and medical devices) via live streaming will be prohibited, with expectations that this will extend to cross-border goods within 3-9 months. [1][3] - The entry barriers for the industry are significantly raised, with an estimated one-third of small non-compliant enterprises expected to exit the market between 2026 and 2027, allowing compliant large brands to capture a market size of approximately 100 billion yuan. [1][14] Regulatory Changes - The new regulations require all cross-border health food manufacturers to register with Chinese customs, submitting production qualifications, GMP certifications, and contract agreements. [1][7] - Different customs regions exhibit varying enforcement levels, with Zhengzhou and Yiwu being more lenient, while Hangzhou and Ningbo are stricter. [7] - The market supervision authority is focusing on exaggerated claims and counterfeit brands, but its response is slower compared to customs, which can act more swiftly against non-compliance. [8] Impact on Market Dynamics - The tightening of regulations is favorable for large compliant enterprises, as it raises market entry barriers and may lead to the exit of smaller players who often engage in aggressive pricing and non-compliant marketing practices. [14] - The cross-border health food market is estimated to be around 100 billion yuan, with platforms like Douyin capturing significant market shares. [14] Marketing and Compliance Strategies - Brands are encouraged to adopt compliance-focused marketing strategies, such as product traceability and collaboration with specialized influencers in the health supplement field. [15][16] - The recent regulatory environment has led to a tightening of marketing practices, with many previously acceptable actions now requiring rectification. [10] Future Expectations - The approval of new ingredients, such as ergothioneine, is anticipated to accelerate ahead of the negative list release, while others like Akkermansia muciniphila may face slower approval due to lower market presence and slower application processes. [11][12] Conclusion - The health supplement industry in China is poised for significant transformation due to regulatory changes, which will likely reshape market dynamics, favoring larger, compliant companies while challenging smaller, non-compliant players. [14]