Super-premium: Swisse outpaces industry growth in China, ANZ, and taps top-end segment for future boom
Swisse says that the sales of its vitamin and mineral supplement products are growing faster than the market rate in key markets such as China, Australia and New Zealand, and that it is expecting more room for growth in South East Asia.
Swisse’s parent company, Health and Happiness (H&H Group), highlighted the above in its annual financial report released on March 21.
The company reported growth across its revenue, gross profit, and net profit, which were all up 10.6 per cent to RMB$12.76bn (US$1.86bn), 6.3 per cent to RMB$7.7bn (US$1.12bn), and 20.3 per cent to RMB$611.78m (US$88.9m) respectively.
China dietary supplement giant BYHEALTH believes that 2023 could be the “best timing” to reposition its business to succeed in the post-COVID era, the firm said during the release of its year 2022 annual financial report.
The Shenzhen Stock exchange company reported a 5.79 per cent yoy increase in its operating revenue to RMB$7.86 bn (US$1.14bn).
Net profit attributable to shareholders, however, was down 20.99 per cent to RMB$1.39bn (US$201.47m).
Haleon, the maker of vitamin and mineral supplement brands Centrum and Caltrate, said revenue was up over 20 per cent for its VMS portfolio in South East Asia, Taiwan, and India.
Its entire vitamins, minerals, and supplements portfolio saw an organic revenue growth of five per cent to GBP$1.68bn (US$2bn) between January and December last year, reported the London Stock Exchange and New York Stock Exchange listed firm on March 2.
In Asia-Pacific, the firm reported high-single digit revenue growth for its VMS portfolio, with South East Asia, Taiwan, and India outperforming in the region.
It is “still too early to tell” how a post COVID-19 pandemic consumer environment will look like, says Blackmores, which has seen a mixture of gains and losses across Asia-Pacific in its most recent financial results.
Group revenue for the ASX-listed company was down 1.6 per cent to AUD$338m (US$230m), while group gross profit dropped 2.7 per cent to AUD$180.2m (US$122.9m) between June and December 2022 and the same period a year ago.
Much of the decline came from the international markets, especially Malaysia, Indonesia, which the firm said was due to a lower demand for immunity products post pandemic.
Food with Function Claims (FFC) aimed at healthy ageing have been singled out for driving Suntory’s health foods business growth in Japan last year.
The products, namely Locomore and Omega A.D.E – a joint health and omega-3 product respectively, had posted six per cent yoy revenue growth during financial year 2022 (FY22), said the firm.
Aside from Japan, Suntory also operates its health supplement business in other parts of Asia, including South East Asia and the Greater China region.