Overall supplements market size in China is about $10 billion to 12 billion. Fragmented market makes it hard to say for sure.
You think the U.S. regs are complicated? Try China. Many agencies with overlapping spheres of influence. It’s confusing for companies and for consumers.
Direct sales giants control as much as 50 percent of the supplements market. Pharmacies and supermarkets are other outlets, where price competition is fierce. Imported products still suffer from their high price points.
Health food store channel is in its infancy, but has huge upside potential. Growth of affluent top-end consumer class, that buys on quality, not just on price, will help here.
- Chinese consumers trust the quality and safety of imported food and supplement products. After all, cheap electronics that malfunction merely disappoint; tainted foods or supps can kill. Think melamine.
Fast facts about the Chinese supplement market
The Chinese have a billion dollar supplements industry with complicated regulations. These five facts provide a brief overview of the Chinese market.