Vitamins and Supplements - China - June 2013
“The Chinese vitamins, minerals and dietary supplements market has grown solidly in the last five years. The market is being driven mainly by increased demand and diversification in retail channels. Market demand continues to rise on the back of increased awareness of health and health issues due to government policies, economic growth and changing lifestyles.”
– Xing Huang – Senior Research Manager
In this report, we answer the key questions:
- What is the current state of the vitamins, minerals and dietary supplements market in China and what are the trends, drivers of and barriers to growth?
- What are consumers’ behaviour and attitudes towards vitamins, minerals and dietary supplements?
- Where are the opportunities for growth in vitamins, minerals and dietary supplements?
- How can product diversification drive consumption?
- How can sales be increased through specialist stores?
The Chinese vitamins, minerals and dietary supplements market has grown solidly in the last five years. Mintel’s research shows that total value sales of the vitamins and minerals market grew at a CAGR of 13.7 % from 2007-2012, reaching RMB 19 billion in 2011, up from RMB 11.36 billion in 2007. Value sales reached an estimated RMB 21.55 billion in 2012. The market is being driven mainly by increased demand and diversification in retail channels. Market demand continues to rise on the back of increased awareness of health and health issues due to government policies, economic growth and changing lifestyles.
Over the next five years Mintel expects the market to grow at a CAGR of about 9.7 %, reaching RMB 35 billion in 2017. The best case prediction is RMB 39 billion. The market will continue to grow, driven by the increasing awareness of disease prevention and by price inflation.
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