This Euromonitor market report provides market trend and market growth analysis of the Health and Wellness industry in Hong Kong, China. With this market report, you’ll be able to explore in detail the changing shape and potential of the industry. You will now be able to plan and build strategy on real industry data and projections.
The Health and Wellness in Hong Kong, China market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Health and Wellness in Hong Kong, China?
- What are the major brands in Hong Kong, China?
- Were the sales of health and wellness affected by the global recession?
- What functional ingredients in food and drinks are in fashion in Hong Kong, China?
- Is the organic movement still growing?
- Are weight management food and drinks driven by product reformulation?
- Why buy this report?
Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions
This industry report originates from Passport, our Health and Wellness market research database.
Each report is delivered with the following components:
- Report: PDF and Word
- Market statistics: Excel workbook
Economic recovery underpins improved market performance in 2010
Recovery from recession supported an improved performance by the Hong Kong health and wellness market in 2010. Growth in total market current value sales was up on 2009, and most individual product categories showed healthy growth in volume terms. Aside from economic recovery, which supported rising disposable incomes, this performance was underpinned by increasing health awareness among consumers, new launches, the expansion of distribution networks and marketing activities by leading manufacturers. Following a spate of contamination scandals during the review period, growing consumer concerns about food safety also had a positive impact on demand for health and wellness products in 2010.
Population ageing bolsters demand for health and wellness products
As is the case with many other developed economies, Hong Kong’s population is ageing. During the review period, this trend had a positive impact on demand for health and wellness products. Middle aged and elderly people tend to be more health conscious than younger consumers, and will often seek out food and beverage products that can help them to maintain their physical and mental health as they grow older. In particular, older people frequently buy products that claim to reduce the risk of diseases commonly associated with ageing, such as diabetes, heart disease, bowel cancer, osteoporosis etc. At the same time, older people tend to have more disposable income than younger consumers, meaning they are better able to afford health and wellness products. In 2010, population ageing continued to have a particularly positive impact on demand for naturally healthy (NH), fortified/functional (FF), better for you (BFY) and diabetic food products.
Manufacturers continue to invest heavily in new product developments
Towards the end of the review period, rising health awareness and economic improvements in Hong Kong prompted a wave of new launches in the health and wellness market. As consumers became better educated about health, nutrition etc, they demanded products with more potent effects or very specific health benefits. At the same time, consumers became more willing to experiment with different flavours, product types and ingredients, particularly in health and wellness beverage categories. For example, soft drinks categories such as RTD tea witnessed the launch of new products that contained ingredients used in traditional Chinese medicine or had flavours more commonly associated with fruit/herbal tea. One popular strategy among producers was to launch limited edition products or seasonal flavour variants on a trial basis, and then extend the offer to all year round if they proved sufficiently successful. Increasing maturity in different health and wellness categories also encouraged the launch of several crossover products, eg FF variants that also had a reduced sugar content. New product launches continued to make a significant contribution to volume and current value sales growth across the wider health and wellness market in 2010.
Genetic factors and lifestyle changes boost demand for different product types
Genetic factors and lifestyle changes continued to boost demand for certain types of health and wellness products in Hong Kong in 2010. With regard to genetics, one of the most influential factors was the high incidence of lactose intolerance among the population. This is common in Asian societies, which, unlike Western countries, do not have extensive histories of dairy farming and consumption. While this has been most influential in driving demand for lactose-free milk formula products, during the review period it also had a positive impact on the development of other health and wellness categories. For example, pro/pre biotic yoghurt products proved increasingly popular among consumers seeking to avoid or alleviate the symptoms of lactose intolerance. At the same time, people who could not tolerate certain types of dairy products, most notably fresh/pasteurised milk, turned to FF, NH and soy-based products to obtain various essential nutrients. With regard to lifestyle changes, one of the most influential trends was the rising incidence of diabetes in Hong Kong. Diabetes, and related conditions such as obesity, became more common during the review period due to a combination of sedentary lifestyles and unhealthy dietary habits. In 2010, this trend continued to bolster demand for certain types of NH food and beverage products, as well as BFY products, particularly reduced sugar and fat variants.
New regulations strengthen consumer trust in health and wellness products
New regulations on nutritional labelling and health claims for packaged food and beverage products came into force in Hong Kong in July 2010. The new regulations were developed partly to restore consumer confidence after a wave of food safety scandals, but also to prevent companies from making false or ambiguous claims about the benefits of their products, which was common practice during the review period. Under the new regulations, product labels must contain specific nutritional information, and manufacturers are expressly prohibited from making misleading health claims. As consumers become increasingly well informed about nutrition, this new regulatory environment is expected to have a positive impact on the development of the Hong Kong health and wellness market over the forecast period. More informative labels will strengthen public confidence in health and wellness products generally, and also make it easier for consumers to choose the products that are best suited to their individual needs.