Hong Kong

• Hong Kong's health supplements market is underdeveloped.
• Only 27% of Hong Kong's consumers have a habit of taking health supplements regularly, which is much lower than its neighboring countries.
• A publicly available 2016 Euromonitor report notes that the leading health supplement players (based on retail value sales) in Hong Kong were Pharmanex, Vita Green, CheongKwanJang, GNC, and USANA (based on data from 2014).
• The available data supports a current 2019 Euromonitor International report on dietary supplements in Hong Kong, which show Vita Green Health and Nu Skin (Pharmanex) among the largest players in the dietary supplements market in Hong Kong.
•  CheongKwanJang is a brand of the Korea Ginseng Corporation which opened its first branch in Hong Kong in 1991. It is a global leader in the ginseng industry but they also develop a variety of supplements.
• Mainland Chinese visitors to Hong Kong have also contributed to the overall rise in sales of health supplements, as Chinese visitors perceive Hong Kong to have better quality products as well as lower prices since imported goods are not taxed.
• The sales of Hong Kong's health supplements are affected when fewer visitors arrive from mainland China.

GNC

• GNC is one of the leading health supplement brands in Hong Kong.
• GNC’s new marketing objective is to "grow the brand by growing the health supplement category, with a campaign that emotionally engages the other 73% of Hong Kong consumers who either don’t take health supplements at all or only do so on a need basis rather than as a conscious lifestyle choice."

Singapore

• "Singapore’s Vitamin and Dietary Supplements market is also highly fragmented, with the top companies only holding slightly more than 9% of market share in 2019, and its competitors following close behind."
• The top companies that sell health supplements in Singapore are GNC, Suntory, Nu Skin, Amway Corp, and Bayer AG.

Summary

• For this hour, we were able to identify more general insights and additional leading players in the overall "Health Supplement" market in Hong Kong and Singapore as well as some insights on GNC's performance in Hong Kong.
• We were able to identify a 2016 Euromonitor report showing the leading health supplement players in Hong Kong (based on 2014 data). However, a more recent report to confirm if all the companies identified were still among the leading players, did not appear publicly available. We were also able to identify some additional players in the health supplement market in Singapore.
• GNC's ranking or market share for both Hong Kong and Singapore did not appear immediately available. Based on what we could find, sources mainly note that GNC is one of the leading health supplement brands in Hong Kong.
• We also found that the top health supplement companies in Singapore only holding slightly more than 9% of market share in 2019, with competitors following close behind, suggesting that there is not much difference in GNC's market share in Singapore over its competitors.
• Finally, we also found that the overall health supplement sales in Hong Kong are influenced by Chinese visitors.
• We can continue the research to identify more insights on the newly identified companies.
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