Retail in Asia

In Sectors

With rising affluence, Chinese go for health products

Prada, Gucci…GNC? In addition to the ever-growing list of fashion and luxury brands Chinese shoppers scoop up at home and abroad, health and wellness products – particularly nutritional supplements – are becoming hot commodities as Chinese disposable incomes continue to grow.

Over the past two decades, Chinese expenditures on health products grew annually at a rate between 15-30 percent, far higher than the 13 percent in developed countries over the same period. It is estimated that the sales of vitamins and dietary supplements as well as food and drug additives in China will reach USD95.2 billion by 2015.

China’s growing nutrition market has attracted international supplement manufacturers, despite high thresholds to enter the market and laborious governmental approval procedures. The most recent survey conducted by the China Healthcare Association states that over the past 15 years about 644 types of nutritional supplements have been exported to China, among which 63 percent is from the US.

(Source: red luxury )