The dietary supplement industry has entered a new cycle of innovation and development

In recent years, more and more young people have joined the health-preserving army, becoming a new force in the dietary supplement market and driving the market expansion. Driven by factors such as population ageing and keeping fit at a younger age, the dietary supplement industry has experienced strong growth. The new trend of diversified consumption has also led to rapid growth in various sub-sectors, and the industry has entered a new cycle of innovation and development. Analysis of the industry, in the industry to intensify competition and standardization of the increasing degree of the theme, the future head of the competitive advantage of enterprises will be more obvious. With the development of healthy economy and beauty economy, more and more young people become the main force of dietary supplement consumption, which effectively drives the expansion of dietary supplement market demand. Competition is intensifying as the dietary supplement chain improves, leading international companies enter the Chinese market and large pharmaceutical and food companies accelerate their deployment. In terms of the number of dietary supplement companies registered, relevant data show that the number of new dietary supplement companies registered in our country has increased from 430,000 in 2017 to 1.31 million in 2022. As of July 25, our 2023 has registered 1.04 million dietary supplement related enterprises.

Products are becoming more diversified and refined as consumption trends become more diversified, refined and scientific, dietary supplement functions are being subdivided, dosage forms are becoming more diversified and developing towards food, driving rapid growth in dietary supplement segments. China merchants securities pointed out in the report that the current dietary supplements in our country occupy a larger scale of the immune system, bone and joint-type products, the size of more than 12 billion yuan, among them, the scale of immune system products reached more than 25 billion yuan. The fastest growth rate, the strongest potential is joint and vision health products. In the past 4 years, the compound growth rate of our joint products is close to 30% , the growth rate of vision health products is more than 20% , the market performance is very bright. In addition to the functions of the products, there is also a growing variety of dosage forms for dietary supplement to meet the needs of different types of consumers. New products such as chewable tablets, soft candies, gels and liquid drinks continue to enter the market, drive the growth of enterprise performance. Take Xianle Health as an example, from the product form classification, mainly has the soft capsule, the nutrition soft candy, the drink and so on core dosage form, the tablet, the powder, the hard capsule and so on foundation dosage form, and the innovation dosage form and so on explodes the bead.

Strict regulation promotes the orderly development of the industry in accordance with the standards of the mature market, our dietary supplement market still has greater room for development. On the one hand, our dietary supplement penetration rate is still far from that of the US and Europe, and on the other hand, the gradual regulation of our dietary supplement sector will help the industry to achieve healthy competition and orderly development. Recently, the state administration of Market Supervision, the National Commission of Health and the state administration of traditional Chinese medicine jointly issued the “Catalogue of non-nutrient supplements for permitted health functions claimed by dietary supplement (2023 version)” and the announcement of supporting documents, it will standardize the management of health care function claims, implement the responsibility of enterprise health care function claims and R & D evaluation subjects, and promote industrial innovation and high-quality development. Multi-dimensional innovation has become a key element in the development of dietary supplement enterprises. It is necessary to reconstruct the core competence of enterprises through the integration of idea innovation, system innovation, Management Innovation, science and technology innovation and product innovation.

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