Daniel Mabey + Peter McMath | China Update & Global Supply Chain
UNPA Members' Retreat 2024
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28m
Daniel Mabey and Peter McMath cover key aspects of international trade and market development for the dietary supplement industry, particularly focusing on China and other Asian markets.
Key points include:
1) Overview of the Indo-Pacific Economic Framework (IPEF), a new initiative including various Asian countries, with a focus on supply chain resilience.
Inclusion of vitamins and amino acids in the U.S. Department of Commerce's list of critical industries.
2) Discussion of supply chain challenges, including lack of GMP-verified suppliers in China and limited FDA oversight.
3) Analysis of third-party certifications used by Chinese suppliers, highlighting a misalignment with U.S. standards.
4) Overview of cross-border e-commerce as a method for foreign companies to sell directly to Chinese consumers, bypassing complex regulatory processes.
5) Market insights for China, including the growth of e-commerce platforms like Douyin (TikTok's sister company) and the continued strong performance of international brands.
6) Brief overview of supplement markets in Japan, South Korea, and Southeast Asia, including market sizes and growth rates.
7) Discussion of different e-commerce platforms and strategies for brands to succeed in Asian markets.
The presentation emphasizes the importance of understanding regional market dynamics, regulatory environments, and e-commerce trends for companies looking to expand into Asian markets, particularly China.
Slides here: https://drive.google.com/file/d/10eaL8XTERf4KaQt0wB9WWdGtEtd0tH6q/view?usp=sharing
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