South East Asia focus: Probiotics e-commerce market, Yili, The Vitamin Shoppe's expansion in the spotlight
WATCH: APAC leading global probiotics e-commerce sales, with Malaysia the largest within SEA - Lumina Intelligence
Asia-Pacific is leading global probiotics e-commerce sales, with sales climbing 38 per cent between 2019 and 2020, and an estimated growth of 17 per cent for this year.
A further breakdown shows that within the South East Asia, Malaysia is the largest probiotics e-commerce market, with Vietnam and Thailand trailing behind.
Indonesia, on the other hand, is the fastest growing market, albeit from a small base.
Women’s focus: New Singapore personalised nutrition firm Moom Health outlines ambitious growth plans
Recently established personalised nutrition firm Moom Health has outlined plans to ship internationally as well as craft pre-packed supplements targeted at specific concerns.
Targeting primarily women’s health, the firm offers an online quiz which dishes out supplement recommendations, and a monthly subscription model where people are sent 30 packs of personalised supplements.
Co-founded by two sisters, Moom Health has seen sales grow almost 30% month-on-month since its launch in Singapore.
COVID-19 dairy boost: Yili looks to product diversification after monumental profits leap in first half of 2021
China dairy giant Yili is looking to focus on the diversification of its product portfolio to ensure sustained growth after seeing a 42.48% jump in H1 2021 net profits, with the firm seemingly enjoying a boost due to COVID-19 health trends.
Yili recently unveiled its H1 FY2021 financial results, where it saw 18.89% year-on-year growth in total revenue to hit CNY56.5bn (US$8.78bn), and a very significant 42.48% yoy growth in total net profits to hit CNY5.3bn (US$823mn).
The firm’s Assistant President Dr Yun Zhanyou told FoodNavigator-Asia that the achievement of such financial success even at a time of instability has been due to two main factors – the growth of the dairy industry itself, ironically as a result of the COVID-19 pandemic, as well as Yili’s proactive product upgrading and innovations.
‘Highly promising’: The Vitamin Shoppe eyes omnichannel expansion in Asia after launches in Korea and Vietnam
US retailer The Vitamin Shoppe says it is eyeing omnichannel expansion in Asia, after making its first steps into South Korea and Vietnam this year.
The subsidiary of NASDAQ-listed Franchise Group believes that Asia is a highly promising growth region.
Last month, it announced the launch of its official e-commerce platform in Korea, as well as digital storefronts on 20 other online marketplaces, including 11st, Auction, Coupang, Domeggook, G9, Gmarket, Interpark, Lotte, Naver, Qoo10 etc.
Make it snappy: Thai company expanding crocodile blood supplement for sports after trial findings
A company specialising in crocodile products is attempting to expand into the sports nutrition market for its supplement product – a capsule containing pure crocodile blood – after a recent human clinical research yielded favourable results.
Sold under the brand ModaPlas, the crocodile blood capsule is a dietary supplement developed and manufactured by Thai firm Sriracha Moda Co. Ltd.
The product, registered as an iron supplement with the Thai FDA in 2009, has been sold in the Thai market for over a decade.
