China's Billion-Dollar Vitamin Market: Is There Room for Growth?

The retail market for vitamins and dietary supplements in China reached RMB 232.3 billion in 2024, with vitamin-specific health products accounting for around 15% of the total value, according to industry data.

Food and beverages fortified with vitamins have become the fastest-growing consumption category. There has also been a noticeable shift in consumer behaviour, with demand moving beyond basic nutrition towards broader health goals such as immunity support, skin improvement, and better sleep. Multivitamin products, in particular, have gained significant popularity.

Despite these trends, the overall penetration of dietary supplement purchases remains low across all age groups in China. The uptake is just 34% among Gen Z (born 1995-2009) and 45% among Gen Y (born 1980-1994). Per capita spending on these products was $22 in 2020, only one-fifth of the level seen in the United States, indicating considerable potential for future market expansion.

Market concentration is moderate. The combined market share of the top five brands (CR5) is 54.6%. The leading brand, Biogreen, holds 17.5%, followed by Centrum at 15.6%. This reflects intense competition within the top tier, with no single brand achieving absolute dominance. The second-tier brands, including Yangshengtang (8%), Swisse (7.4%), and 21 Gold Vitamins (6.1%), also compete closely with one another.

Multivitamins have captured a larger market share than single-vitamin products. Growth is fastest among consumers aged 18-35, followed by those aged 45 and above.

Experts note that vitamins are essential micronutrients which the human body generally cannot produce in sufficient amounts. While they do not provide energy, they are crucial for regulating metabolism. Consumers are advised that water-soluble vitamins require regular intake, whereas fat-soluble vitamins can pose risks if consumed excessively.

For context, in overseas markets such as the United States, the leading vitamin D brand holds close to 50% market share, a level of dominance not yet seen among top players in China.