in

Eye health, beauty, probiotics trending in Taiwan, with food firms, influencers entering nutra business

Eye health, beauty, probiotics trending in Taiwan, with food firms, influencers entering nutra business
Announcement


Taiwan’s health supplement market is worth almost NTD$170bn (US$5.24bn).

Between 2022 and 2023, the market is said to have grown by 17.4 per cent and the growth rate for this year is estimated to reach 15 to 17 per cent, Min-Hsiung Pan, distinguished professor and director at National Taiwan University’s Institute of Food Science and Technology told NutraIngredients-Asia. ​Pan is also the president of the Health Food Society of Taiwan. 

The booming demand has also attracted general food and beverage companies, skincare and cosmetics brands, influencers, and drugmakers into the industry.

Taipei-headquartered contract development and manufacturing company TCI Co Ltd, for example, pointed out that traditional food firms are launching protein or dietary fibre-fortified products – in line with the ongoing trend for healthier food products.

“These healthier food options could also complement the company’s existing product line,”​ Huang added.

Starting off with specific supplements might also be more tedious for the food companies, as these products would require much more consumer education and firms might find it challenging to transit seamlessly from their existing business, she explained.

Professor Pan raised the same point, adding how general beverage firms have crossed into the realm of functional health drinks. This is driven by rising consumer awareness to “eating well”.

A report from Euromonitor in October last year described Taiwan’s consumer health sector as being “highly fragmented with multiple players vying for position in most categories.”



Source link

Announcement

What do you think?

Written by Kookloofeed

Announcement
Announcement

Leave a Reply

Your email address will not be published. Required fields are marked *

Announcement
Why Canada’s Opposition leader demanded to know ‘WTF!’ in the country’s Parliament | Explained News

Why Canada’s Opposition leader demanded to know ‘WTF!’ in the country’s Parliament | Explained News

‘The Matrix’ reminds us why AI is so dangerous

‘The Matrix’ reminds us why AI is so dangerous