Views: 5 Author: Golden Horizon (Chengdu) Technology Co., Ltd. Publish Time: 2021-02-09 Origin: Golden Horizon (Chengdu) Technology Co., Ltd.
On December 17, 2020, the "Fifteenth Natural Extracts Innovation and Development Forum and Natural Ingredient Industry Development Forum" hosted by the China Chamber of Commerce for Import and Export of Medicines and Health Products was held concurrently at the CPhI exhibition at the Shanghai New International Exhibition Center. At the conference site, Mr. Zhang Chengwen, Chairman of the Plant Extract Branch of China Chamber of Commerce for Import and Export of Medicines and Health Products, shared a speech on "The Impact of the New Coronary Epidemic on the Food Supplement Market", in-depth interpretation of the food supplement and plant extract market after the epidemic The trend of development has made everyone full of confidence in the future development of the nutrition and health industry.
Economic Recovery Still Needs a Long Process, But The Food Supplement Industry Has Grown Against The Trend
After the epidemic, the economy will not be able to return to normal for a long time. That is to say, in the current situation, if there is no vaccine or widespread immunization, we cannot return to the pre-pandemic situation. This is the worst choice we may face. This will mean that we will experience a major crisis that will take a long time to recover.
Under this economic model, what changes will it bring to us?
1) First of all, trade protectionist policies and trade wars will be the norm for a long time;
2) People don’t like going abroad for vacations and participating in international exhibitions and conferences less and less. The concept of a global village will be forgotten for a long time;
3) The rescue policy and flood-type currency issuance that have to be adopted will have a huge and uncertain impact on the economic trend after the epidemic;
4) The excessive development of the Internet caused by home office and the epidemic will change people's behavior habits.
However, for the food supplement industry, the impact of the epidemic has shown contrarian growth. Take the United States as an example. At the beginning of the epidemic, on mainstream media websites such as Twitter and Reddit, the number of visits to products that improve immunity increased by 4.4 times, the number of visits to anti-inflammatory products increased by 2.8 times, and the number of visits to corresponding elderberry products increased. By 16.6 times, Echinacea has increased by 9.4 times, and vitamin C and D have increased by more than three times. Under this kind of visits, the sales of products such as vitamins, amino acids, digestive enzymes, and food supplements in the United States increased significantly in March.
U.S. Nutrition and Health Products Sales Increase in March
The fast-growing global plant extract market, the future growth rate will reach 16.5%
In 2019, the global plant extract market reached 23.7 billion yuan and is expected to reach 59.4 billion yuan in 2025, with a compound growth rate of 16.5% from 2019 to 2025. The average growth rate of global plant extract development in the past ten years is about 5%. With people’s concerns about the side effects of synthetic additives, the awareness of the health benefits of plant drugs and herbal extracts has been increasing, and the research and development activities of plant extracts have increased. With the growth and popularity of convenience foods, the demand for plant extracts in the food and beverage industry is also growing. Therefore, the plant extract market will grow rapidly in the future.
Despite the rapid growth in the Asia-Pacific region, the US market, which is the vane of the global plant extract market, is still very large. According to NBJ data, the total sales of herbal dietary supplements in the United States in 2019 reached 9.602 billion U.S. dollars, which was an increase of 750 million U.S. dollars over 2018 and an increase of 8.6% over 2018. Since 2000, the U.S. market has only experienced negative growth in 2003 and 2010. The overall trend is increasing, with a growth rate of about 5%. It is expected that the growth rate in 2020 will exceed 10%.