North America is expected to account for the largest market for sports nutrition products, dominated by the U.S., spending approximately $3 trillion a year. By 2018, healthcare will comprise close to 18% U.S. gross domestic product – a sizable market opportunity for a new generation of entrepreneurs selling innovations to the industry, the government, and increasingly directly to consumers.
As for China, a survey mentioned that China will actively raise the nutrient intake of its people, and will make the development of health food and nutrient fortified food one of its priorities. This will help boost the development of China’s health food market.
China’s health food market grow at an average annual rate of 10-15%, from RMB260 billion in 2016 to RMB400 billion in 2021. As of July 2017, the China Food and Drug Administration (CFDA) had approved a total of 16,631 health food products, of which, 15,879 were domestically made and 752 were imported. China will become the largest health market instead of America in the future.
We look forward to helping you understand the China market and keep up with the industry development!