China Dietary Supplements Market to Grow at a CAGR 8.3% from 2023 to 2028
The factors driving the growth are the increasing elderly population, the shift from pharmaceuticals towards nutraceuticals, amino acids, and protein supplements due to the focus on preventive healthcare, and the growing personalized nutrition, which is supporting the dietary supplement industry.
Chicago, Aug. 08, 2023 (GLOBE NEWSWIRE) — According to a research report “China Dietary Supplements Market by Type (Botanicals, Vitamins, Minerals, Amino Acids, Enzymes, Probiotics), Function, Mode of Application, Target Consumer, Distribution Channel (Pharmacy, Supermarket/Hypermarket, Online) and Region – Global Forecast to 2028”, published by MarketsandMarkets, China Dietary Supplements Market to Grow at a CAGR 8.3% from 2023 to 2028.
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Elderly and millennial populations are the key users of dietary supplements.
Millennials in China exhibit a strong affinity for technology and rely heavily on online platforms for their shopping needs. This tech-savvy generation enjoys convenient access to a diverse selection of dietary supplements through e-commerce channels. This accessibility allows them to easily explore and purchase products that align with their health and wellness goals, providing a seamless shopping experience.
On the other hand, the elderly population in China places great importance on maintaining good health and well-being as they advance in age. They actively seek proactive measures to enhance their overall health, manage age-related conditions, and bolster their immune systems. For this purpose, dietary supplements emerge as a convenient and readily available solution, effectively meeting their nutritional requirements and addressing specific health concerns. The dietary supplements market in China is driven by shifts in dietary habits due to urbanization and busy lifestyles. With an increased reliance on processed foods, there is a growing need for dietary supplements to address potential nutrient deficiencies and provide essential vitamins, minerals, and beneficial compounds. Additionally, the influence of Traditional Chinese Medicine (TCM) is significant, as many dietary supplements in China are formulated based on TCM principles and ingredients. These TCM-based supplements are believed to support health and promote balance in the body.
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List of Key Players in the Probiotics Industry:
- Otsuka Holdings Co., Ltd (Tokyo)
- Nestle (Switzerland)
- Abbott (US)
- Amway Corp (US)
- Pfizer Inc. (US)
- ADM (US)
- International Flavors & Fragrance (US)
- Glanbia PLC (Ireland)
- GSK PLC. (UK)
- Bayer AG (Germany)
- Herbalife International of America, Inc. (US)
Asia Pacific provides the highest growth prospects for the dietary supplements market in 2023
Asia Pacific is a highly diverse market in terms of dietary supplement manufacturing and consumption. The Asia Pacific dietary supplements market is expected to grow at a significant rate. The population across has been increasingly switching towards a healthier life by the adoption of dietary supplements in different forms, which are naturally sourced. Additionally, the geriatric population has been growing in countries such as Japan, where the demand for geriatric supplements and medicinal supplements is set to grow. Further, after the pandemic countries like India and China are increasingly adopted these supplements apart from daily diet, as a means of prevention and fulfilling dietary requirements. These countries are also offering key players to expand their reach in the dietary supplements market by providing a vast customer base, the focus of the companies operating in the market is shifting towards establishing business and manufacturing facilities, which drives the market in the region.
Germany Dietary Supplements Market
UK Dietary Supplements Market
France Dietary Supplements Market
Japan Dietary Supplements Market
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