Hong Kong Nutritional Supplements Market Report 2022 to 2030

Hong Kong Nutritional Supplements Market Analysis

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By 2030, it is anticipated that the Hong Kong Nutrition and Supplements market will reach a value of $1.26 Bn from $0.61 Bn in 2022, growing at a CAGR of 9.5% during 2022-2030. The market is primarily dominated by local players such as Vita Green Health, Eu Yan Sang International Limit, and RightEA Trading. The market for nutrition and supplements in Hong Kong is primarily driven by government initiatives, increasing consumer awareness of health and lifestyle, and strict government regulations. The Hong Kong nutrition and supplements market in Hong Kong is segmented by Type, Product, application, and Distribution Channel.

ID: IN10HKON002 CATEGORY: OTC & Nutraceuticals GEOGRAPHY: Hong Kong AUTHOR: Dr. Vishwa Modhia

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Hong Kong Nutrition and Supplements Market Analysis Summary

By 2030, it is anticipated that the Hong Kong Nutrition and Supplements market will reach a value of $1.26 Bn from $0.61 Bn in 2022, growing at a CAGR of 9.5% during 2022-30.

Hong Kong is one of the most vibrant markets in Asia for health supplement products. Customers are increasingly taking various types of health supplements for their health and well-being. Vitamin-based supplements are the most widely used supplements, though products with herbs and other ingredients are becoming more common. As Hong Kong healthcare organizations and retailers turn their attention to creating their own generic supplement brands, there is a significant opportunity for American health supplement producers to land private-label manufacturing contracts.

In 2022, around 74% of Hong Kong residents aged 25 to 34 used nutritional supplements. Comparatively, only 58% of respondents over the age of 54 reported taking supplements. In 2022, around 79% of people in Hong Kong took nutritional supplements to improve and strengthen their immune systems. In the meantime, 27% used dietary supplements to improve their skin, hair, and nails.

hong kong nutrition and supplements market analysis

Market Dynamics

Market Growth Drivers Analysis

Customers in Hong Kong place a high value on "Made in the USA" nutritional supplements and regard this label as a guarantee of superior quality. In this regard, GMP and CGMP certifications from the Food and Drug Administration (FDA) are highly valued by Hong Kong consumers. Through online commerce, American businesses can freely market and sell their goods in Hong Kong and, consequently, the rest of China without the need for time-consuming and expensive government approvals.

Market Restraints

Hong Kong market regulations are very strict. For instance, a company should have a basic understanding of the regulatory requirements when planning to import, manufacture, and market health supplements in Hong Kong. A health supplement may be regulated as a pharmaceutical product, a proprietary Chinese medicine, or pre-packaged food depending on the dosage form, product composition, and usage claims.

Competitive Landscape

Key Players

Vita Green Health (HKG)
Eu Yan Sang International Limited (HKG)
RightEA Trading (HKG)
Health & Happiness (H&H) (HKG)
Biostime International (HKG)
Nestlé
GlaxoSmithKline

Healthcare Policies and Reimbursement Scenarios

The Public Health and Municipal Services Ordinance (PHMSO), the Pharmacy and Poisons Ordinance (PPO), the Chinese Medicine Ordinance (CMO), and the Undesirable Medical Advertisements Ordinance (UMAO) are the four different ordinances that regulate the market for nutritional supplements. Depending on the intended uses and the ingredients in the formula, the Drug Office - Department of Health, Hong Kong, regulates dietary supplements that must be registered similarly to OTC pharmaceutical products in Hong Kong.

The reimbursement of dietary supplements and nutritional products is restricted in Hong Kong. Since most of these items are "over-the-counter," the government healthcare system does not provide coverage for them. For patients in Hong Kong with particular medical conditions, such as those who have trouble swallowing or absorbing food, the Hospital Authority covers the cost of some specialized nutritional products.

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

Hong Kong Nutritional Supplements Market Segmentation

The Nutritional Supplements Market is segmented as mentioned below:

By Product (Revenue, USD Billion):

Sports Nutrition
- Sports Food
- Sports Drinks
- Sports Supplements

Fat Burners
- Green Tea
- Fiber
- Protein
- Green Coffee
- Others (Turmeric, Ginseng, Cranberry, Garcinia Cambogia)?

Dietary Supplements
- Vitamins
- Minerals
- Enzymes
- Amino Acids
- Conjugated Linoleic Acids

Functional Foods
- Probiotics
- Omega-3
- Others

By Consumer Group (Revenue, USD Billion):

Infant
Children
Adults
Pregnant
Geriatric

By Formulation (Revenue, USD Billion):

Tablets
Capsules
Powder
Softgels
Liquid
Others

By Delivery Channel (Revenue, USD Billion):

Chemists/Pharmacists
Direct-to-Consumer Sales
E-commerce

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.