Growing gains: Four key categories for growth highlighted by thriving Australian supplements sector
Complementary Medicines Australia (CMA) has identified four health areas, namely immunity, natural beauty, healthy ageing, and pet health as categories for growth opportunities.
As for export destinations, the UAE and UK were highlighted as the potential growth markets.
“We are seeing growth in immunity and natural beauty areas as we start to recover from COVID-19. Consumer sentiment indicates more focus and interest on immunity products and the beauty category is seeing a resurgence,” Carl Gibson, CEO of CMA, said in response to queries from NutraIngredients-Asia.
Oral spray vitamins and mineral supplements are gaining interest across Asia-Pacific markets beyond the novelty factor, due to the ease of convenience and efficacy that they can provide, according to two pioneering firms in the category.
The two companies featured in this episode of Nutrition Asia were UK’s BetterYou and US-based SpectraSpray.
At the moment, BetterYou’s vitamin and mineral oral spray products are available in APAC markets such as South Korea, Hong Kong, Singapore, while SpectraSpray is working with Singapore distributor Rainbow Care.
Profits drop: Slump in gross margins for major Chinese infant formula players in first six months of 2022
Key players in China’s infant formula industry have reported a drop in their gross profit margins in the first six months of this year, including the biggest local player Feihe, as well as Health and Happiness Group (H&H Group), and Ausnutria.
The three companies, which are all listed in Hong Kong Exchanges (HKEX), have pointed out the above in their most recent financial reports for the first six months of this year.
Some of the reasons include a drop in product revenue and rising material costs.
COVID-19 concern: Academic unease at almost one in 10 Japanese taking supplements as preventive measure
A new study from Japan shows that 8.3 per cent of the respondents surveyed have used dietary supplements to prevent COVID-19 infection.
Popular choices were vitamin C at 61 per cent, vitamin D at 34.9 per cent and non-nutrient ingredients like probiotics at 33.4 per cent. Other popular ingredients include zinc, catechin and cannabidiol (CBD).
Most of the respondents who have taken the supplements had been previously diagnosed with COVID-19.
The wellbeing and medical nutrition sectors are booming in China and South East Asia (SEA), says New Zealand dairy giant Fonterra, which has introduced a new portfolio aimed at tackling these needs.
Known as Nutiani, the business-to-business brand focuses on the physical, inner, and mental wellbeing sectors, which Fonterra said were growing at six per cent per year and worth US$66bn, citing statistics from Euromonitor.
Within Asia-Pacific, the company sees the biggest opportunities for Nutiani in China and South East Asia, said chief innovation and brand officer Komal Mistry-Mehta.