Health food can be roughly divided into three major areas: dietary supplements, weight management and sports nutrition. According to Euromonitor Consulting's statistics, the market sales scale of dietary supplements is about 150 billion yuan, accounting for 92.2% of the entire health food market sales scale, but the CR5 of this segment is only 37.6%, which is low in concentration. In terms of market competition, the major domestic health food manufacturers and sales companies choose different sales channels according to their own characteristics to correspond to different consumer groups to sell their products, especially today when the homogeneity of products in the industry is becoming more and more serious. The focus of competition for enterprises has gradually shifted to channels.
market segment: the dietary supplement market is large but the concentration is low.
health food refers to the use of specific groups of people, has the function of regulating the body, not for the purpose of curing diseases, and does not produce any acute, subacute or chronic to the human body Hazardous food. Health food can be roughly divided into three areas: dietary supplements (vitamins, minerals, etc.), weight management, and sports nutrition.
Dietary supplements refer to health foods that supplement the human body with nutrients such as vitamins and minerals. According to Euromonitor Consulting’s statistical data, the size of my country’s dietary supplement market in 2018 was about 150 billion yuan, and the industry’s CR5 was only 37.6%. This was mainly due to the low threshold for R&D and listing of major categories such as vitamins and calcium tablets, which resulted in a lot of differences. The homogenized products produced by manufacturers compete fiercely in the market, and the industry concentration is low.
Health foods in the field of weight management include nutritional powders and mixed beverages and other food substitute products. In 2018, the domestic market reached 12 billion yuan. From the perspective of the competitive landscape of the market, Herbalife USA has an absolute advantage in this field, controlling nearly half of the market. Market share, accounting for 46.8%; the market share of other brands is below 10%.
The health food in the field of sports nutrition is mainly aimed at people who exercise and regularly exercise, supplementing them with various nutrients such as protein needed for exercise. The market is small but has maintained a high growth rate of more than 30% since 2015. In 2016, Xiwang Foods acquired the well-known sports nutrition brand Muscletech, which has occupied a large market share and market share in the sports nutrition market in 2018. Accounted for 29.0%; followed by Competit, with a market share of 18.4%.
Competitive pattern: The core of corporate competition lies in channels
At present, companies in the health food industry in my country mainly sell products through direct sales, e-commerce, supermarkets, pharmacies and other channels. Among them, the representative brands that sell products through direct sales channels include Infinitus and Amway And Herbalife; and brands that adopt e-commerce channels include Tomson Beijian and Xiwang Foods.
Although there are many subdivisions of health food in my country, most companies choose to compete on the traditional track of vitamins and mineral supplements, and the problem of product homogeneity is serious. In addition, due to the short industry history, consumers have limited understanding of the industry, and brand recognition and loyalty are generally not high. Therefore, the role of channels in the industry has been highlighted. The core of current corporate competition lies in channels, especially the three main channels of direct sales, e-commerce and pharmacies.
According to Euromonitor Consulting’s statistical data, the direct sales channel has been the main channel for major health food manufacturers to sell products from 2013 to 2018, and the sales of this channel accounted for about 47% each year; followed by the pharmacy channel. The sales share is also maintained at more than 18%; with the rapid development of mobile Internet and e-commerce in China, the proportion of e-commerce sales in the health food industry has also increased year by year. In 2018, the sales share of health food in this channel accounted for The ratio reached 31.6%.
For more data, please refer to the " China Functional Food Industry Brand Competition and Consumer Demand Investment Forecast Analysis Report " released by Foresight Industry Research Institute .
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