Global Trends in the Development of Health Products

North American region：
·Market position: The North American health food market has a high level of maturity and ranks first in the world. As the main market, the United States will account for 32.51% of the global healthcare industry in 2023.
·Consumer habits: Consumers have a high awareness of dietary supplements, with 74% of American adults consuming health food in 2023, and offline is the main purchasing channel, but the market size of e-commerce channels is gradually expanding. From January to June 2024, Amazon's US site sales of health food reached $75.1 billion, a year-on-year increase of 15%.
·Consumer demand: 65% of consumer demand on the platform is concentrated in the price range of $50-200, with high growth potential for mid to high end products. The main types of hot selling products include nutrient supplements, probiotics, protein powders, etc. Joint/bone health, brain health, cardiovascular health and other products targeting middle-aged and elderly people have a year-on-year growth rate of over 40% in the first half of 2024.
Asia Pacific region：
·Market size: The Asia Pacific region is an important battlefield for health food sales, with the Chinese market ranking second in the world in terms of market size, accounting for 19.75% of the global health product industry in 2023.
·Growth rate: China is one of the regions with the fastest growth rate of global health products. The "Market Analysis and Development Prospects Forecast Report of China's Health Products Industry from 2024 to 2029" predicts that the CAGR will reach 6.2% from 2023 to 2026. In addition, the health food market in countries such as Japan, South Korea, and Southeast Asia has also shown a good development trend.
·Consumer characteristics: In terms of consumer demand, there are similarities between Asia Pacific and North America, such as higher demand for nutrient supplements and other products. In terms of consumer channels, e-commerce channels have developed rapidly and gradually become an important sales channel. At the same time, consumers are increasingly concerned about the quality, efficacy, and safety of products, and have a strong interest in concepts such as natural and organic products.
European region：
·Market share: In 2023, the European market will account for 15.48% of the global healthcare industry.
·Consumer preference: Consumers have a high sensitivity to the functions and concepts of natural products, but are more traditional in terms of channels and dosage forms. With the increasing awareness of health, the demand for products such as vitamins, minerals, and herbal extracts from natural sources is also constantly growing.
·Development trend: Influenced by consumers' concerns about health and environmental protection, the European health food market is also moving towards a more natural and personalized direction. Some products with specific functions, such as health products for cardiovascular health and joint health, are favored by consumers.
Southeast Asia region：
·Market potential: The Southeast Asian health food market has enormous potential and is a focus of brand and capital attention. The revenue of the Southeast Asian vitamin and mineral market is expected to reach 2.27 billion US dollars in 2024 and continue to expand at a compound annual growth rate of 6.13%.
·Consumption situation: With the growth of the local economy and the improvement of residents' purchasing power, consumers' attention to nutrition and health care continues to increase. Beauty supplements and weight management supplements in the Thai Shopee market are expected to grow by over 50% in 2023, while online health food sales in the Philippines are mainly concentrated on the Lazada platform, with annual sales exceeding 800 million yuan and a year-on-year growth of up to 115%.
·Restrictive factors: food safety, approval from regulatory authorities in various countries, lack of standardization, and consumer preferences are major factors that constrain the overall growth of the Southeast Asian health food market.