Few days before, Nestle SA, the world’s largest food company by revenue, has expanded into the Chinese market’s health food sector by introducing a protein powder. “I am confident about this product,” said Roland Decorvet, CEO of Nestle China. “China is not the oldest country in the world, but it is a fast-aging one….I believe the market (for health food) will be very strong.” The followings are the statistic related to China Health Food Sector which may inspire you about the China Health Food Sector
- The State Food and Drug Administration reported that, “The Chinese health food market reached 105 billion yuan ($16.87 million) in 2011, with an annual increase of 11.4 percent since 2006.”
- The Chinese Government approved the registration of 813 new health food products in 2011, a year-on-year increase of 14.5 percent.
- The health food market in China will hit 450 billion yuan by 2015, said Hong Kong Trade Development Council, the international marketing arm for Hong Kong-based traders, manufacturers and service providers.
- Health food imports reached 203 million yuan in 2010, a year-on-year increase of more than 30 percent. And sales of foreign health food products have maintained an annual increase of 12 percent, reported by the General Administration of Customs.
- According to Beijing-based S&P Consulting, China’s per capita spending on health food is $31 per year, which accounted for 0.07 percent of their total annual consumption. By contrast, the figure in the United States and the European Union is around 2 percent, which is 29 times the Chinese level.
News Source: China Daily