SHANGHAI, Nov. 29, 2020 /PRNewswire/ -- With the advent of the post-COVID-19 era, the medical and healthcare industry has received unprecedented attention. At the 3rd China International Import Expo (CIIE), the much-anticipated medical device and healthcare exhibition area is also the one with the most global, Asia and China debuts. World-renowned dietary supplement company GNC made a stunning appearance at the CIIE, showcasing newly developed nutritional products. All the products received considerable attention from visitors.
GNC's participation at this year's CIIE is an important milestone for the company over the past decade in China. With the advancement of China's health and nutrition industry, GNC has been dedicating itself to the industry for the past ten years, offering premium dietary supplements from around the world. These products have provided Chinese consumers with healthy nutritional solutions and supported the development of the health and nutrition industry in China.
GNC digs deep into the 8-trillion-yuan Chinese market with its global selection of premium dietary supplements
Due to China's rising economy, and the citizens' increased awareness for health and wellness, China's health and nutrition industry has witnessed rapid development in recent years with unprecedented opportunities for growth.
As early as 2013, the State Council held a meeting to research and implement policies that facilitate the development of China's health service industry. Currently, the "Healthy China" initiative has become a critical part of China's 14th Five-Year Plan. Under this initiative, health and nutrition industry plays a key role and has been assigned the utmost responsibility to perform in accordance with the initiative's goals. Market-wise, according to a report released by Qianzhan Industry Research Institute, the market value of China's health industry has reached 8.13 trillion yuan in 2019. The coming of the post-pandemic era has intensified their focus for food consumption on healthy in addition to safety, with data showing that the consumption of immunity-boosting products have recorded a net increase of 22% during the pandemic.
As a world-renowned dietary supplement brand, GNC has always been committed to providing consumers with quality dietary supplements and comprehensive health and nutrition solutions from around the globe. The company has also received positive feedback and recognition from the Chinese market. In the past year alone, GNC has released more than 33 new products in China, with the brand's business increasing by nearly 150%. At this year's CIIE, GNC showcased over 100 products to the Chinese market, nearly half of which were unveiled for the first time.
Focusing on the domestic market, GNC actively participates in "dual circulations" strategy
In 2019, GNC, with its global supply chain and R&D capabilities, joined forces with Harbin Pharmaceutical Group for its extensive channels and resources. As GNC previously stated in a media interview, "Harbin Pharmaceutical Group is a leading enterprise in China's pharmaceutical industry and an ideal partner for us. As China's dietary supplements market continues to expand, we hope to leverage GNC's brand advantages and Harbin Pharmaceutical's powerful distribution network, operational capabilities and manufacturing technologies to enhance GNC's competitiveness in the Chinese market and rapidly increase GNC's brand influence in China."
According to industry experts, this move will not only provide GNC with benefits of enjoying opportunities arise from domestic circulation, but also better integrate itself into the domestic and international dual circulations. As China enters a new stage of development, it is crucial for the company to deeply integrate itself into the international and domestic dual circulations. Thus, GNC's appearance at CIIE is an important measure that allows the brand to integrate deeper into this strategy.
"Turning the China market into a market for the world, a market shared by all, and a market accessible to all" is an important theme of this year's CIIE. GNC regards this year's CIIE as an important platform and opportunity for its development, hoping to introduce better quality products and services into China. By doing so, GNC hopes to take advantage of China's mega-sized market to build a broader platform upon which the company can grow.
GNC is committed to help protect Chinese consumers' health and wellness through a variety of products
For this reason, GNC brought the Preventive Nutrition product line to the Chinese market at this year's CIIE, hoping to help Chinese consumers to address their health issue concerns and meet their increasing anti-aging, immune and other core wellness needs. Of the four products displayed at the CIIE, NMN made its world debut.
NMN stands for β-nicotinamide mononucleotide, which is a trending new ingredient in the field of dietary supplements. The MNM product released by GNC is imported from the United States. To ensure the purity and potency of the ingredients, GNC has set stringent guidelines for its manufacturers to test raw materials, while actively participating in the development of the industry standard.
On October 22, Tmall Global, the pioneer in the cross-border e-commerce market, together with the dietary supplement industry think tank Shuzheng Health Commercial Consultation, held the "Seminar on the Development of NMN Nutritional Supplement Category Standard and the Launch Ceremony of 'NMN White Paper'" in Hangzhou, China. At the seminar, GNC, as one of the invitees representing health and nutrition brands in the industry, jointly launched the "Tmall Global NMN Merchant Alliance", allowing itself to be tested by the stringent requirements for quality and strict industry standards. GNC hopes to jointly build "a quality fortress" for imported health products and provide the most effective guarantee for consumers and the whole market.
In order to meet the increasingly individualized needs of Chinese consumers, GNC has also reformed and innovated its traditional business model besides product innovations that showcased at the CIIE. For example, the company has recently launched a genetic testing product - GNC4U DNA Kit, providing consumers with highly personalized services. Moreover, in September this year, GNC launched the first offline health drink bar in Shanghai, to meet the needs of consumers who are seeking delicious and healthy drink options. In the midst of this year's pandemic, GNC also followed local trends and activated O2O and live stream e-commerce sales models, aiming to lead the consumption upgrade with innovative products and services.
The year 2020 coincides with the 85th anniversary of the GNC brand. With 85 years of continuous investment and commitment to health and nutrition industry, GNC has always advocated for protecting your health by constantly offering better quality products and services that meet consumers' growing and diversified health needs. After this year's CIIE, GNC will continue to innovate its products and services to support the development of China's health and nutrition industry and lead a healthier lifestyle. Through quality products and services, GNC will help Chinese consumers enjoy a high quality, healthy and vibrant life. Live healthy. Live well.
SOURCE GNC China