A total of 1,005 individuals aged 18 or above took part in the telephone survey held between May and July.
The Hong Kong Institute of Asia-Pacific Studies of The Chinese University of Hong Kong conducted the survey.
It was reported that an average of HK$781.59 (US$100.53) was spent on health supplements every month.
A breakdown of the data showed that users of “Chinese supplements” spent a higher amount of HK$904.54 (US$116.34).
Users of “Western or other health supplements”, on the other hand, spent an average of HK$577 (US$74.21) each month.
Popular health supplements include vitamins or minerals (56.2 per cent), probiotics (36.8 per cent), and Chinese supplements (26.8 per cent).
Nicotinamide mononucleotide (NMN) is one of the hottest health supplements in Hong Kong at the moment.
A reason could be due to consumers’ curiosity in new types of health supplements, Nicole Leung, vice president of HKHFA, also the senior business director at Hong Kong-based health supplement firm Catalo said in a recent interview.
The survey also reported that almost half of the respondents (49.6 per cent) were buying health supplements from chain stores.
This is followed by specialty stores (22.4 per cent) and pharmacies (20.4 per cent).
Main sources of information related to health supplements include friends or family (42.1 per cent), television (27.4 per cent), and social media (27.2 per cent).
Market opportunities
The survey report also identified immunity, personalisation, and mental health as opportunities for the industry, especially since consumption of health supplements is expected to increase.
About one in five (23 per cent) reported a higher spending on health supplements as compared to pre-COVID.
Nearly one in three (29.8 per cent) expressed growing emphasis on their immune health.
“To capitalise on the increased demand for health supplements post-COVID-19, consider developing targeted immune support products, launching educational campaigns on the benefits of a robust immune system, and offering personalised supplement plans.”
Providing personalised services is also a way to stay engaged with consumers, said Leung.
Her company, for instance, provides health consultation for consumers at its store outlets.
In-store health advisers will make recommendations from Catalo’s existing range of supplements based on consumers’ health questionnaire results.
“Additionally, focus on mental health supplements, implement promotional offers, and invest in research to back product claims, fostering consumer trust and loyalty,” said the survey report.
Plans
The survey report also talked about initiatives that could drive the industry forward.
For instance, the government could provide clearer definitions on health supplements, educate the public through online platforms.
An example is having a centralised platform that allows consumers access to information, including research findings, usage guidelines of health supplements. This could also help ensure consumer rights.
“The government should encourage innovation, research, and growth in health supplements to meet consumers’ evolving demands by offering funding or incentive measures,” added the report.
