The consumption of big health products and services continues to rise, and institutions predict that the total revenue of China's big health industry will reach 9 trillion yuan in 2024

The 4th China International Consumer Goods Expo was recently held in Hainan. Xinhua Health News Agency's "Xinhua Health" reporter learned that currently, big health consumption has become a new trend. From dietary nutrition and health products to smart fitness equipment and health care services, more and more consumers are willing to pay for health; At the same time, the "selective consumption" in the field of big health is shifting towards "essential consumption". Driven by factors such as policy support, economic development, and technological upgrading, China's big health industry has ushered in huge development opportunities.

However, many industry insiders also believe that although the new trend of big health consumption has cultivated a new soil for the industry, the maturity of the industry still needs to be strengthened, and obstacles need to be overcome quickly to develop the big health industry towards characteristics, precision, standardization, and other directions.

The popularity of consumers paying for health is not decreasing

Soak Chinese wolfberry in a thermos cup, add some vitamins to cola, and apply facial mask while staying up late... The emerging "punk health care", to some extent, shows that people have not given up the management of physical and mental health. According to Ernst&Young's "Future Consumer Index" released in 2023, "health first" has jumped to the top of the five consumer groups in China for the first time after the epidemic.

In modern society, common phenomena such as irregular lifestyles, mental anxiety, and failing physical examinations have made healthy consumption a new trend. This can be seen at the recently held China International Consumer Products Expo, known as the "barometer of consumer trends".

In the exhibition hall of China Health Union, international dietary nutrition and health brand products such as seal oil and ammonia sugar have attracted many visitors to stop. "In China, middle-aged and elderly people hope for health and longevity, while young people are sensitive to sub-health, making high-quality health products increasingly popular and popular." Chen Lu, General Manager of China Health Union (Beijing) Supply Chain Management Co., Ltd., said, "People are beginning to attach importance to the 'fourth meal' of scientific diet to supplement nutrition."

Zero additive, zero fat, low calorie condiments and beverages from Nordic countries are favored by many consumers due to their superior production environment and strict food standards. Li Haichao, co-founder of Skoday (Shanghai) Trading Co., Ltd.'s Nordic Center, believes that consumers are now more inclined to choose "clean ingredient lists", and healthy foods are enriching the dining tables of Chinese households.

In addition, health massage chairs that can be moved around, "deep sleep cabins" that can relieve anxiety and improve sleep, smart fitness equipment that integrates 5G technology and artificial intelligence, and health programs that provide "care" for semi disabled and disabled elderly for physical examinations are also included in the consumption list of various age groups.

In recent years, the only "medical special zone" in China, the Hainan Boao Lecheng International Medical Tourism Pilot Zone, has introduced more than 370 types of licensed medical equipment products, benefiting over 58000 patients and attracting overseas medical consumption to return.

At the Lecheng branch of this year's Consumer Expo, more than 800 innovative domestic and foreign medical devices, as well as more than 500 special medical foods and health products, were exhibited. Visitors have experienced major health consumption scenarios such as conditioning and deep healing.

"Consumers who aspire to a better life are willing to pay for their health," said Li Wei, Chairman of the First Age Hospital Management Group that has settled in Lecheng. Various major health products are also striving to target the market and meet the needs of consumers.

Compulsory consumption stimulates the vitality of the big health industry

With the continuous promotion of the "Healthy China" strategy, the "selective consumption" in the field of big health has shifted to "rigid consumption", forming a new pattern and entering a new trend in the big health industry.

According to AI Media Consulting's prediction, the total revenue scale of China's big health industry will reach 9 trillion yuan in 2024, a significant leap from the total revenue of 8 trillion yuan in 2021. According to statistics from Tmall Health, the platform had nearly 300 million purchasing users in 2023, with an average annual purchasing frequency of over 5 times per person, achieving a transaction scale of billions of yuan.

"The market demand is showing exponential growth, providing great space for industrial development." Chen Lu introduced nutritional and health food as an example. The recently released "Blue Book of China's Nutritional and Health Food Industry" shows that as of 2022, the scale of China's nutritional and health food industry has reached 588.5 billion yuan, and it is expected that the industry scale will exceed 800 billion yuan in 2027. "But now the market penetration rate is only about 20%, and some products that help improve immunity, solve cardiovascular and cerebrovascular functional problems, improve sleep and weight loss will have huge prospects."

Secondly, industry insiders believe that consumer groups in some niche areas have already formed. In first and second tier cities, international families, intellectuals, and those who pursue a quality of life have developed a strong stickiness towards healthy diets and health management products.

In the field of hair loss prevention, Yang Jianqian, CEO of Letashi (Shanghai) Trading Co., Ltd., stated that according to data statistics, the number of people with hair loss in China currently exceeds 250 million. In recent years, the sales share of Tmall's anti hair loss dietary supplements has shown a multiple growth, forming a group with a demand for improving hair loss.

In the elderly care sector, Yang Fan, the booth manager of Taiping Elderly Care Industry Management Co., Ltd. at this year's Consumer Expo, pointed out that many elderly people, from home-based elderly care to community elderly care, are more willing to choose to "group" with their spouse or friends.

"The market and consumer groups have shown us the potential of the industry," Chen Lu said. At the 4th Consumer Expo, her company signed contracts with partners on-site, allowing products to be sold in offline stores nationwide, duty-free stores at airports, supermarkets, department stores, and pharmacies. Many enterprises have chosen to refine their market and layout, expand the introduction of overseas products, or register companies in comprehensive bonded zones in various regions, in order to continuously enhance their future core competitiveness in the industry.

Building good industrial channels and order

In the eyes of many industry insiders, the big health industry is a matter with a threshold and cannot be achieved overnight.

Li Haichao started introducing European health products into the Chinese market 12 years ago, but she found it difficult to improve the cognitive level of the consumer group all at once. "If something is healthy, it means sacrificing taste. Many times, merchants can only 'sell melons and boast', but consumers don't buy it, making it difficult to promote some products."

Chen Lu also believes that in the past and even now, there has been a lack of professional doctors or nutritionists to guide the field of nutritious and healthy food. Some businesses exaggerate and deceive marketing, brainwash advertising, coupled with immature consumer health and consumption awareness, have caused the industry to lose credibility at one point.

For example, in the standard system of some health products, due to factors such as implicit trade barriers, countries cannot recognize each other, which makes it difficult for products to enter the market through concealment.

For example, some similar products in the market are mixed with good and bad, and the regulation is relatively weak. False and inferior products often require a long time to be inspected before being eliminated, squeezing out the survival space of high-quality products.

For example, in some areas of health consumption, such as the elderly care communities of insurance companies, they are still in the initial cultivation stage, and the services have not yet reached a mature and perfect stage, and the prices cannot be more affordable.

In this regard, Chen Lu suggested that relevant national departments should continue to promote "early prevention and reduction of illness", and also carry out public education on healthy consumption, so that consumers truly understand "what health is", "how to manage health", and "how to distinguish the advantages and disadvantages of products".

"At present, there are many sub sectors of health products, and new products are emerging one after another." Li Ku, Deputy General Manager of the Protein Nutrition and Seasoning Technology Center of Angel Yeast Co., Ltd., believes that products for groups such as pregnant and infant children, the elderly, and fitness enthusiasts should be subject to targeted industry regulations and standards.