Data shows that by 2023, the market size of Functional Food in China had reached RMB 321.46 billion (about US $44.4 billion). As the concepts of health and wellness deepen, as well as due to China's population aging rapidly, consumer demand is undergoing profound changes, with more attention being paid to the nutritional value and health benefits of food—Scientific, precise, and diversified nutritional needs are gradually becoming the mainstream trend of consumption, a change that has brought huge development opportunities to the Functional Food industry.
TMO specializes in market research, strategy definition, and development solutions for eCommerce Growth in Southeast Asia.
In this context, the "2024 Functional Food Industry Conference" hosted by FoodMate's Functional Food Circle was held in Shanghai on November 13-15 under the theme of "Scientific Evidence-Based, Technological Innovation". The conference arranged one main forum and multiple sub-forums in parallel, for industry experts and colleagues to discuss cutting-edge research, industry regulations, innovative technologies, and applications for the Functional Food industry.
Being a popular destination for expansion by Chinese and Global supplement brands alike, the Southeast Asian market was also a topic of interest among attendees. As an eCommerce Data Research provider, TMO Group was invited to participate in the compilation of the "2024 Functional Food Industry" and "2024 Probiotics Industry" white papers, newly released at the conference. These resources included the analysis of sales data from the Shopee and Lazada platforms in Southeast Asia. In addition, TMO Business Director Jing Zhou, delivered guest presentation on "Southeast Asia Expansion: Development Trends of the Online Market for Health Products" on the afternoon of November 13. You can download the keynote in Chinese here.
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The 2024 Functional Food Industry Conference focused on multiple core topics in the field of Functional Food. 40+ industry experts delivered over 30 keynote speeches, deeply analyzing the industry's innovation trends, development and application of new raw materials, and the innovative development of cutting-edge technologies. Other guests include Lu Wenwei, Deputy Director of the National Engineering Research Center of Functional Food, Hong Weilian, Scientific Research Director for Yili Group's Probiotics Research Center, Ma Jun, Vice President of Infinitus (China) Co., Ltd., and Lu Yingshuang, associate professor at the Nankai University School of Medicine.
Some of the topics presented include Functional Food R&D, regulations, investment, and consumption trends. In addition, the conference also explored issues such as the discussion of postbiotic functions, applications, and management, the modernization of classic prescriptions in functional foods, the analysis of functional food advertising review and promotion from a legal perspective, and the introduction of weight management intervention programs under the background of big health policies.
Ms. Jing’s speech was mainly dominated by eCommerce data analysis to showcase the Southeast Asian nutritional supplement market, including overall sales trends, best-selling categories, sub-category analysis, and popular brands, combined with practical insights such as "dark horse" products, hot-selling brand ingredient lists, product keywords, and consumer reviews—showcasing the strong potential of SEA as a destination for brands expanding overseas.
Growing your Health Products eCommerce Operation with TMO
TMO has been monitoring the Southeast Asian eCommerce market for a long time, as well as providing services from expert consultation and strategy definition to eCommerce development and marketing strategies for cross-border eCommerce, TMO Group has over 10 years of experience providing tailored Health & Beauty eCommerce Solutions to Global customers targeting the biggest markets in Asia.
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