From Chinese consumers tightening their purse strings to financial results of major nutraceutical players Haleon and Kirin, here are the most-read stories in August 2023.
Chinese consumer spending on health supplements is holding up, against the backdrop of slow economic recovery and dampened spending spanning luxury goods, beauty, and apparel, industry experts have told us.
Kirin’s is targeting Australian acquired Blackmores to achieve a revenue of 100 billion yen (US$687m) and a net operating profit margin of 15 per cent or more by around year 2030, the Japanese-conglomerate said during its latest financial results presentation.
The harmonisation of traditional medicines and health supplements technical standards in South East Asia is yet again delayed, but a regulatory expert has advised companies to start following the standards if they want to market their products to the region.
Health claims related to sleep, stress and skin increased in Foods with Function Claims (FFC) notified in FY2022, while those of concern to the ageing population, such as muscle health, are expected to rise in the near future, exclusive new data reveals.
Taiwan’s Food and Drug Administration will be setting consumption limits and usage warnings on ashwagandha and seven other botanicals that are used as food ingredients.
Haleon, the company behind vitamin brands Centrum and Caltrate, said VMS revenue was down 0.5 per cent in the first six months of this year, with a decline in the US offset by growth in Asia Pacific and Europe.
Danone has reported ‘solid growth’ in its infant formula brand Aptamil in China for the first six months of 2023, while functional drink brand Mizone has recovered from underperformance after product revamps.
Growth opportunities in India’s nutraceutical industry are far greater than the pharmaceutical sector, according to industry experts, who also describe its trajectory as ‘a phenomenon’.
Kirin has introduced a version of its immune care postbiotic drink with 50% less calories, claiming to make it more accessible for health-conscious consumers without compromising on taste.
South Korea’s Ministry of Food and Drug Safety (MFDS) is collecting public feedback on changes to consumption warnings, daily intake, and heavy metal limits for health functional foods containing nine kinds of functional raw materials, including oat fibre and coenzyme Q10.
