China Herbal Supplements Market Report 2023 to 2030

China Herbal Supplements Market Report

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The China Herbal Supplements Market was valued at $422.84 Mn in 2023 and is predicted to grow at a CAGR of 7.7% from 2023 to 2030, to $710.69 Mn by 2030. The key drivers of this industry include traditional medicine influence, health and wellness trends, and an aging population. The industry is primarily dominated by players such as Ningbo Herb, KPC Herbs, Herbalife, and Kangmei Pharmaceutical Co., Ltd among others.

ID: IN10CNON001 CATEGORY: OTC & Nutraceuticals GEOGRAPHY: China AUTHOR: Aashwi Mehta

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China Herbal Supplements Market Executive Summary

The China Herbal Supplements Market was valued at $422.84 Mn in 2023 and is predicted to grow at a CAGR of 7.7% from 2023 to 2030, to $710.69 Mn by 2030.

Herbal supplements are plant-based products used to treat diseases or maintain health. These supplements, which include herbal, botanical, or phytomedicines, are derived from plants or composed of one or more herbs. They are intended for internal use and are commonly found in solid forms such as capsules, pills, tablets, and lozenges, as well as in liquid or powder forms. However, herbal supplements can interact with prescription medications and may cause side effects like allergic reactions, nausea, and headaches. Popular herbal supplements include turmeric, ashwagandha, ginseng, echinacea, and valerian root.

About 10% of Chinese children aged 3-14 years of age experience malnutrition, including 1.34% who are stunted, 11.22% underweight, and 9.77% wasted. A survey conducted in China revealed that nearly 60% of respondents reported experiencing elevated stress levels. The market is driven by significant factors like traditional medicine influence, health and wellness trends, and an aging population. However, competition from pharmaceuticals, efficacy, and quality concerns, and cultural perceptions restrict the growth and potential of the market.

Prominent players in this field include Ningbo Herb, KPC Herbs, Herbalife, and Kangmei Pharmaceutical Co., Ltd among others.

China Herbal Supplements Market Report 2023 to 2030

Market Dynamics

Market Growth Drivers

Traditional Medicine Influence: The market for herbal supplements in China is driven by a deep-rooted cultural preference and extensive historical use of herbal remedies in traditional Chinese medicine (TCM). This longstanding tradition and cultural affinity lead to robust consumer demand for herbal supplements, fueling market growth in the country.

Health and Wellness Trends: The rising awareness and growing adoption of natural health products among Chinese consumers, who are increasingly interested in preventive healthcare solutions, serve as significant drivers for the herbal supplement market in China. This trend fuels demand as consumers seeks out herbal supplements for their perceived health benefits and holistic approach to wellness.

Aging Population: By 2040, China is expected to have 402 Mn people aged 60 and older, making up 28% of its population. This demographic trend is a key driver for China's herbal supplement market, as older adults increasingly seek natural health solutions to support aging and overall well-being.

Market Restraints

Competition from Pharmaceuticals: Pharmaceutical drugs, seen as more effective and reliable by consumers and healthcare professionals, pose a significant competitive challenge to traditional herbal supplements in China, limiting their market potential.

Efficacy and Quality Concerns: Concerns regarding the consistency, purity, and effectiveness of herbal supplements can undermine consumer trust and hinder their adoption. This represents a significant market restraint for the herbal supplement industry in China, impacting consumer confidence and potentially reducing demand for these products.

Cultural Perceptions: Cultural beliefs and preferences regarding traditional versus modern medicine can shape consumer attitudes and behaviors toward herbal supplements. This dynamic serves as a market restraint in China, influencing the acceptance and adoption of herbal supplements based on prevailing cultural norms and perceptions of efficacy compared to modern medical treatments.

Regulatory Landscape and Reimbursement Scenario

The National Medical Products Administration (NMPA), formerly known as the China Food and Drug Administration (CFDA), oversees the regulation and approval of traditional Chinese medicines, including herbal products. The State Food and Drug Administration (SFDA) is responsible for the registration, classification, and quality control of Chinese herbal products in China. In China, Traditional Chinese Medicine (TCM) is integrated into the public healthcare system, covered by insurance, and included in the essential medicine list. In Taiwan, concentrated Chinese herbal extracts have been utilized for over four decades and are eligible for reimbursement through the government health insurance system.

Competitive Landscape

Key Players

Here are some of the major key players in the China Herbal Supplement Market:

Ningbo Herb
KPC Herbs
Herbalife
Kangmei Pharmaceutical Co., Ltd
Tongrentang Co., Ltd
Yunnan Baiyao Group Co., Ltd
Swisse Wellness
Hyson China Holdings Ltd
Wong Lo Kat Medical Hall
Amway

1. Executive Summary
1.1 Product Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Government Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel and Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation

6. Methodology and Scope

China Herbal Supplements Market Segmentation

By Product Form

Tablet
Capsule
Powder
Others

By Application

Immunity
General Wellness
Specific Health Condition

By Distribution Channel

Pharmacies
Supermarket/Hypermarket
Online
Specialty Stores

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.