BEIJINGThe U.S.-China Health Products Association (USCHPA) published a new report to quantify the amount of exports the United States is losing as a result of China’s regulatory environment for dietary supplements.
Put together for the U.S. Department of Commerce (U.S. DOC) and the U.S. industry, the report, entitled “U.S. Dietary Supplement Export Potential Report: China," contains export sales data collected from some of the largest players in the U.S. dietary supplement industry.
“Basically, the association wants to see what the export and job creation numbers would look like for U.S. companies if China’s regulatory system was more open and transparent," said the association’s executive director Jeff Crowther. “The association has been working closely with U.S. DOC since 2010 on regulatory advocacy measures in China. This report will assist DOC in their ongoing conversations with China’s Food and Drug Administration and Ministry of Commerce".
China has become the largest consumer market in the world and is currently driving profits for many multi-nationals. Without China, some of these foreign companies would be running flat or even going out of business. It is within this dynamic 300 million strong consumer market that U.S. dietary supplement companies want to set up camp.
However, getting over China’s “Great Wall of Regulations" has proven an insurmountable task for most companies. Navigating the market as well as the inconsistencies with importing regulations have made market entry more difficult.