Six Future Development Trends Of Nutrition And Health Products Industry

After experiencing the "quantity and health incident" and the new crown epidemic, with the outbreak of national nutrition and health needs again, the healthcare product market has embarked on the road of dual challenges of transformation and recovery since 2021.

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As the younger generation pays more and more attention to health care, the structure of consumer groups and purchasing habits in the health food market has also changed. The consumption of healthy food in China is showing a younger trend, and health products have become snacks and ready-to-eat.

01 younger consumer groups

The post-90s and post-00s are called the generation that "cherishes life like gold". According to the data from the Zhiyan Consulting Report, the current health and wellness market in China has exceeded one trillion yuan, the average urban resident spends more than 1,000 yuan per year on health and wellness, and the proportion of young people aged 18-35 is as high as 83.7 %. The younger generation not only wants to solve health risks, but also does not want to completely abandon past living habits, so they are targeting healthy food.

According to the "Post-90s Health Diary" released by Ipsos, emotional health (26%), body management (22%), and sleep improvement (14%) are the top three health demands of the post-90s. They pursue the same origin of medicine and food and grasp both internal and external adjustments. At the same time, they generally believe that the choice of ingested food and products can affect health preservation. Among the foods for internal use, health products have become one of the many options, and the growth rate will reach 40% year-on-year in 2020.

02 Functional food ushers in a wave

"Punk health care" has become a microcosm of the lifestyle of the new generation. However, young people’s consumer demand for health products is quite different from that of middle-aged and elderly people. They reject taking health products like taking medicine, but prefer nutritional supplements that are as delicious and convenient as snacks, and have health functions. Chinese manufacturers are aiming at the trend of functional foods. At present, there are various nutritional supplements such as jelly, jelly, and bottled drinks that supplement vitamins, improve immunity, and promote sleep, including Amway, Babycare, and Infinitus. The leading brands of them have made layouts in this field.

03 Innovative research and development products have sprung up

The trend of nutritional and health food snacks has also brought about product innovation in the upstream and downstream industrial chains of the nutritional and health products industry, and dosage form innovation is the most obvious. Capsules and powders of traditional health food are inconvenient to eat. Traditional health food dosage forms in the form of "medicine" are changing to sugar, bottled drinks, and other snack dosage forms that young people like, and many young consumers have emerged. innovative products. For the innovation of health care products that are transforming towards youth, the "light health" products that are delicious, fun, and easy to share, in addition to catering to the preferences of young people from the packaging, this kind of health food not only looks more like snacks but also contains fun sharing. social attributes.

According to the China National Food Industry Association, the outlook for the gummy vitamin market is positive, with a compound annual growth rate of approximately 6%, and is expected to grow from approximately US$3.1 billion in 2018 to approximately US$5.8 billion in 2029. Among them, women have a high consumption of gummy vitamins, while children will be the main consumers of gummy vitamins by 2024. With the increasing proportion of younger consumers of healthcare products, there is still a lot of room for development in the nutritional and health food innovation market, which is far from being limited to market hotspots such as functional sugar, jelly, and functional drinks.

04 Probiotics market will welcome blowout

As one of the fastest-growing nutrition and healthcare segments in recent years, probiotic products have a variety of health benefits that have been scientifically and clinically proven, so they have a market prospect for diversified applications. Since the beginning of this year, upstream and downstream enterprises in China's probiotics industry chain, such as Ketuo Biology, Runwu Biotechnology, Livzon, and BY-HEALTH, have stepped up their deployment in market research and development. The application and development of the probiotics industry have ranged from ordinary food and beverages to functional foods and healthcare products. , and then expanded to the field of live bacteria pharmaceuticals.

According to the latest data from Euromonitor International, the global probiotics market is worth about 40 billion euros (about 300 billion yuan) in 2019. China's probiotics market has an average annual growth rate of about 15% and is expected to reach a market size of nearly 90 billion yuan in 2022. As China's demand for probiotic products has increased significantly, probiotics have also ushered in a blowout development.

05 Pharmaceutical company's cross-border layout functional food

In 2021, Chinese pharmaceutical companies will intensify their actions in the field of cross-border health products and functional foods. Under the background of the pharmaceutical industry, such as medical insurance control fees, bidding price cuts, and strengthened supervision, the profit margins of pharmaceutical companies are gradually shrinking, and they have begun to seek new sources of profit. Pharmaceutical companies such as Tongrentang, Guangzhou Pharmaceutical Baiyunshan, Kangenbei, Harbin Pharmaceutical, Sunflower Pharmaceutical, Xiuzheng, Renhe, etc. continue to increase their presence in the field of big health products. There is a high degree of correlation between the pharmaceutical industry and the health food industry, and the entry threshold of the health food industry is relatively low, and the industry's profit margins are considerable. Therefore, many pharmaceutical companies have entered the healthcare product market across borders, and more than half of the listed companies that concurrently operate healthcare products have passed Strategic acquisitions, expansion of business lines, and other methods that have made the revenue of the healthcare products business segment close to the average level of the second echelon of main companies.

06 Digital Transformation and Upgrading of Marketing Model

With the popularization of the mobile Internet, the online channel of healthcare products has captured a new round of traffic dividends, and well fits the long-tail needs of healthcare product consumers, and its development momentum is very rapid. Changes in the consumer group structure of healthcare products have also driven changes in sales models to a certain extent. According to industry statistics, the direct sales model is still the main model of health food sales. However, the e-commerce channel is the fastest growing channel, growing from 3.4 billion yuan in 2011 to 25 billion yuan in 2015, with a compound annual growth rate of 65%.

The rise of "live shopping" has led many healthcare products industries to increase their investment in online marketing, bringing new development opportunities and consumption growth points to the industry. Amway, BabyCare, Infinitus and other direct sales companies of health care products have proposed strategies for digital marketing transformation, increasing the layout of Internet channels, and combining direct sales with new retail and e-commerce. The data shows that almost one-third of the direct selling companies all mentioned digital transformation and upgrading, forming some reference samples for the integration of social e-commerce and direct selling operations, which will also become the key direction for the direct selling industry to expand the market space in the future.

Under the pressure of modern urban life, sub-health problems are prominent. Healthcare products are not only the necessities of the elderly, but also the rigid needs of contemporary "community animals". With the expansion of the consumer group of healthcare products, the healthcare product industry has gradually entered the 100 billion market. According to data from iiMedia Research, from 2013 to 2020, the scale of China's healthcare products market has grown from 99.3 billion yuan to 250.3 billion yuan and is expected to reach 270.8 billion yuan in 2021, showing an overall trend of continuous expansion.

iiMedia Consulting analysts believe that Chinese consumers have undergone fundamental changes in their consumption concepts and willingness to consume healthy food. The consumption attributes of health food will gradually change from optional consumer goods to must-choice consumer goods, and health food is also gradually From high-end consumer goods and gifts to essential products for dietary supplements. All these factors will promote the growth of the overall market size of healthcare products in China.

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