U.S.–China Health Products Association (USCHPA) has published a report entitled, “U.S. Dietary Supplement Export Potential Report: China.” The report was put together for the U.S. Department of Commerce (U.S. DOC) and the U.S. industry to quantify the amount of exports the U.S. is losing as a result of China’s regulatory environment for dietary supplements.
China has become the largest consumer market in the world and is currently driving profits for many multi-nationals. Without China, some of these foreign companies would be running flat or even going out of business. It is within this dynamic 300-million-strong consumer market that U.S. dietary supplement companies want to set up camp.
However, getting over China’s “Great Wall of Regulations” has proven an insurmountable task for most companies. Navigating the market as well as the inconsistencies with importing regulations have made market entry more like a game of blackjack and the house always wins!
USCHPA surveyed some of the largest players in the U.S. dietary supplement industry to obtain export sales data for this report. “Basically the association wants to see what the export and job creation numbers would look like for U.S. companies if China’s regulatory system was more open and transparent,” stated the association’s executive director Jeff Crowther. “The association has been working closely with U.S. DOC since 2010 on regulatory advocacy measures in China. This report will assist DOC in their ongoing conversations with China’s Food and Drug Administration and Ministry of Commerce.”
To access the report, CLICK HERE.