Steve Hanson, CEO of Grip Ideas and international business consultant, discusses the Chinese market and the successes and challenges that US companies are finding in China. By 2015 the leading Chinese consulting groups are projecting that the Chinese supplement market will be the biggest in the world—even bigger than the US and Japan, which have historically been No. 1 and No. 2 in the world. There’s an affinity in China for good Western brands and that’s an opportunity that should be taken advantage of, says Hanson.
Building strong partnerships is key to success and the best partnerships, he says, will work both ways—helping US companies gain footing in China and helping Chinese companies reach into the vibrant US nutrition market.