China’s health food industry has grown steadily, from $23.5 billion USD in 2017 to $29.2 billion USD in 2020, with an average annual compound growth rate of 7.75%. It is expected that the market size of China’s health food industry will exceed $31.7 billion USD in 2022 .
At present, the functions of those popular health food in the China market mainly focus on immunity, accounting for 28.8% of the market. Followed by letter vitamins (14.9%), anti-fatigue (12.9%) and calcium supplementation (10.2%). (Source: China Business Industry Research Institute)
HPA-China Commentary: the sales figures mentioned above are on the lower side of many other entities’ measurements of China’s overall dietary supplement industry. Some estimates are above $40 billion with some even going higher than that. The reason for this is the fractured nature of the industry and its occasional overlap with Traditional Chinese Medicine and the Food Industry. Also many sales channels are not always included or can be quantified such as cross border, overseas fulfillment (daigou sales) and conference selling. With that said, the important key takeaway is that the industry is definitely growing at over 6% or more per year. (Source: HPA-China)