Probiotics in South Korea: How brands and retailers are finding opportunities with premium products
The probiotic market in South Korea had witnessed robust growth in recent years and looked set for further growth, according to a raft of probiotic companies, including Cell Biotech, AceBiome, and Amorepacific.
Red ginseng and probiotics were the first and second bestselling health functional foods in South Korea respectively in 2020, according to the country's Ministry of Food and Drug Safety (MFDS).
“The volume of probiotics sold in the market is slightly lower than the vitamin and mineral products, but the profit coming from the sales of probiotics is much higher than vitamins and minerals.
Nutra trends 2022: Nestle, Morinaga, Shiseido, Max Biocare weigh in on what’s ahead for the industry
Nestle, Morinaga, Max Biocare and Shiseido revealed their predictions for this year’s health and nutrition trends, spanning insights across healthy ageing, infant nutrition, kids’, women’s, and men’s health.
For example, Nestle China said that immunity and comprehensive nutrition would take centre stage in the healthy ageing sector this year.
Some of the products that it has been working on included milk powder for seniors.
Food and nutrition companies, as well as government agencies, have been investing more in product traceability.
Amway for example, has launched its Nutrilite Traceability program four years ago, tapping on digital technologies such as web-based augmented reality and livestreaming to “bring product traceability to life” for consumers.
Danone, on the other hand, has developed a dual-QR code packaging for its infant formulas sold in countries such as China, while BYHEALTH is operating a transparency factory in Zhuhai for consumers to take a look at the key production process.
Online purchase of dietary supplements flourished amid the ongoing COVID-19 pandemic, to find synergies and success in the ‘best-of-worlds’ digital and brick-and-mortar retail approach, some brands have adopted the omni-channel retail strategy.
For example, India’s HealthKart – which started in 2011 as an e-commerce store selling dietary supplements, ventured into offline retail in 2015 and said it planned to open 40 to 50 more new stores this year.
Australia’s EZZ, on the other hand, is using both offline retail, online shopping sites, and has developed a mobile APP to expand its direct to consumer business.
‘Now is the time’: Moderna co-founder and nutra experts on why delivery system innovation is key for industry growth
Breakthrough in delivery system technologies is crucial to drive innovation in the traditional vitamin and minerals category, as well as the booming probiotics, functional food and beverage sectors.
VitaKey, founded by a co-founder of Moderna, is working with New Zealand’s dairy firm Fonterra on probiotics delivery systems.
India’s Wellbeing Nutrition has also illustrated the importance of sustained nutrients release in its product development process.
Human milk oligosaccharide (HMO) has become one of the hottest and most commonly seen ingredients in Vietnam’s infant formula products, according to Vietnam homegrown firm Vinamilk and Hong Kong-headquarted Health & Happiness Group (H&H Group).
Vinamilk’s CMO Nguyen Quang Trí told us that the market could be segmented into products that come in different price points, namely the economy, mainstream, and premium market.
Products from its brand Optimum Gold is leading the mainstream segment and those from Dielac Alpha Gold are driving sales for the economy segment.
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 had reported a drop in their gross profit margins in the first six months of this year, including the biggest local player Feihe, Health and Happiness Group (H&H Group), and Ausnutria.
The three companies, which are all listed in Hong Kong Exchanges (HKEX), 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.
Shattering stereotypes: How APAC supplement brands are wowing with packaging design, quality and sustainability
APAC supplement brands are bringing new packaging innovations to the market to stand out from its competitors, with China’s Wonderlab, Australia’s VÖOST Vitamins as prime examples.
A good packaging also serves to protect and preserve the stability of the product contents within the stated shelf-life, offers ease of convenience, and is environmentally friendly.
In this edition of VitamINSIGHTS, we will shine the spotlight on brands that are breaking the barriers and stereotypes of how dietary supplements should be packed and presented for enhanced attractiveness, convenience, and protection.
‘Double approach’: Skin care brands launching oral supplements for anti-hyperpigmentation as awareness grows
There has been a trend of skin care firms launching supplements that claim to reduce skin hyperpigmentation.
This is according to Horphag Research, the Geneva-based company behind skin health ingredient French maritime pine bark extract, trademarked as Pycnogenol.
“What we see from our customers is that they are looking for a double approach…For example, they could have a lotion, a cream for topical application and at the same time, they also sell capsules with Pycnogenol inside. They make sure that they approach skin care from a holistic standpoint,” said Sébastien Bornet, VP, global sales and marketing at Horphag Research.
Since the rise of Fitbit and Garmin, consumers have been quick to jump in on new products that allow them to track their health metrics, so it’s no surprise that nutra firms are also increasingly innovating with tech to boost consumer health.
In this series of VitamINSIGHTS, we assess how user-friendly, how much data, and how accurate the measurements are.
Some of the technologies featured include glucose monitoring tools by Abbott, Hong Kong’s eNano Health, Kao’s visceral fat measuring mobile app, Design For Health’s gut microbiome testing and more.