Hong Kong Nutritional Supplements Market Analysis

Hong Kong Nutritional Supplements Market Analysis

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By 2030, it is anticipated that the Hong Kong Nutrition and Supplements market will reach a value of $1.26 Bn from $0.61 Bn in 2022, growing at a CAGR of 9.5% during 2022-2030. The market is primarily dominated by local players such as Vita Green Health, Eu Yan Sang International Limit, and RightEA Trading. The market for nutrition and supplements in Hong Kong is primarily driven by government initiatives, increasing consumer awareness of health and lifestyle, and strict government regulations. The Hong Kong nutrition and supplements market in Hong Kong is segmented by Type, Product, application, and Distribution Channel.

ID: IN10HKON002 CATEGORY: OTC & Nutraceuticals GEOGRAPHY: Hong Kong AUTHOR: Dr. Vishwa Modhia

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Hong Kong Nutrition and Supplements Market Analysis Summary

By 2030, it is anticipated that the Hong Kong Nutrition and Supplements market will reach a value of $1.26 Bn from $0.61 Bn in 2022, growing at a CAGR of 9.5% during 2022-30.

Hong Kong is one of the most vibrant markets in Asia for health supplement products. Customers are increasingly taking various types of health supplements for their health and well-being. Vitamin-based supplements are the most widely used supplements, though products with herbs and other ingredients are becoming more common. As Hong Kong healthcare organizations and retailers turn their attention to creating their own generic supplement brands, there is a significant opportunity for American health supplement producers to land private-label manufacturing contracts.

In 2022, around 74% of Hong Kong residents aged 25 to 34 used nutritional supplements. Comparatively, only 58% of respondents over the age of 54 reported taking supplements. In 2022, around 79% of people in Hong Kong took nutritional supplements to improve and strengthen their immune systems. In the meantime, 27% used dietary supplements to improve their skin, hair, and nails.

hong kong nutrition and supplements market analysis

Market Dynamics

Market Growth Drivers Analysis

Customers in Hong Kong place a high value on "Made in the USA" nutritional supplements and regard this label as a guarantee of superior quality. In this regard, GMP and CGMP certifications from the Food and Drug Administration (FDA) are highly valued by Hong Kong consumers. Through online commerce, American businesses can freely market and sell their goods in Hong Kong and, consequently, the rest of China without the need for time-consuming and expensive government approvals.

Market Restraints

Hong Kong market regulations are very strict. For instance, a company should have a basic understanding of the regulatory requirements when planning to import, manufacture, and market health supplements in Hong Kong. A health supplement may be regulated as a pharmaceutical product, a proprietary Chinese medicine, or pre-packaged food depending on the dosage form, product composition, and usage claims.

Competitive Landscape

Key Players

  • Vita Green Health (HKG)
  • Eu Yan Sang International Limited (HKG)
  • RightEA Trading (HKG)
  • Health & Happiness (H&H) (HKG)
  • Biostime International (HKG)
  • Nestlé
  • GlaxoSmithKline

Healthcare Policies and Reimbursement Scenarios

The Public Health and Municipal Services Ordinance (PHMSO), the Pharmacy and Poisons Ordinance (PPO), the Chinese Medicine Ordinance (CMO), and the Undesirable Medical Advertisements Ordinance (UMAO) are the four different ordinances that regulate the market for nutritional supplements. Depending on the intended uses and the ingredients in the formula, the Drug Office - Department of Health, Hong Kong, regulates dietary supplements that must be registered similarly to OTC pharmaceutical products in Hong Kong.

The reimbursement of dietary supplements and nutritional products is restricted in Hong Kong. Since most of these items are "over-the-counter," the government healthcare system does not provide coverage for them. For patients in Hong Kong with particular medical conditions, such as those who have trouble swallowing or absorbing food, the Hospital Authority covers the cost of some specialized nutritional products.

1. Executive Summary
1.1 Product Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Government Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel and Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company Overview Product Applications and Services Recent Developments Partnerships Ecosystem Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation

6. Methodology and Scope

Nutritional Supplements Market Segmentation

The Nutritional Supplements Market is segmented as mentioned below:

By Product (Revenue, USD Billion):

  • Sports Nutrition
    • Sports Food
    • Sports Drinks
    • Sports Supplements
  • Fat Burners
    • Green Tea
    • Fiber
    • Protein
    • Green Coffee
    • Others (Turmeric, Ginseng, Cranberry, Garcinia Cambogia)?
  • Dietary Supplements
    • Vitamins
    • Minerals
    • Enzymes
    • Amino Acids
    • Conjugated Linoleic Acids
  • Functional Foods
    • Probiotics
    • Omega-3
    • Others

By Consumer Group (Revenue, USD Billion):

  • Infant
  • Children
  • Adults
  • Pregnant
  • Geriatric

By Formulation (Revenue, USD Billion):

  • Tablets
  • Capsules
  • Powder
  • Softgels
  • Liquid
  • Others

By Delivery Channel (Revenue, USD Billion):

  • Chemists/Pharmacists
  • Direct-to-Consumer Sales
  • E-commerce

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

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Last updated on: 21 June 2023

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