Consumers have healthy respect for brand names
By Yao Jing | China Daily | Updated: 2014-02-26 08:46
China's consumer health market is expected to experience an upswing in the next five years, The Boston Consulting Group said on Tuesday, saying that rising health consciousness in the world's second-largest economy will spark business opportunities.
China's growing health and wellness market is poised to reach nearly $70 billion by 2020, said BCG's Center for Consumer and Customer Insight, which surveyed 2,600 middle-and upper-income consumers aged 18 to 65 from across China.
"We project an average year-on-year growth of about 11 percent for the over-the-counter treatments segment and vitamins, minerals and supplements market between 2014 and 2020," said Wu Chun, who is a partner and managing director at BCG Greater China.
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