"For the past ten years, we have maintained high double-digit growth and continue to be the fastest-growing region within Nestlé Greater China. Although we have been slightly affected by the pandemic this year, our growth is still strong," said Gu Xinxin, the president of Nestlé Health Science Greater China.
During a separate interview with Foodinc today, Gu Xinxin revealed that Nestlé Health Science Greater China has set a goal to reach the "billion-yuan mark" in five years.
Currently, Nestlé Health Science has three main businesses globally: medical nutrition, consumer health, and innovative nutritional therapy.
In the future, Nestlé Health Science will focus on its two core businesses: medical nutrition and consumer healthcare. These are also the two main pillars supporting its business in China. In China, Nestlé Health Science's medical nutrition business was established earliest, selling special medical foods for infants, children, and adults. The consumer healthcare business is in its early stages and includes several brands of dietary supplements.
Nestlé Health Science achieves 30% annual compound growth in China's medical nutrition sector and tops market share in pediatric allergy and growth development categories.
"We have completed the transition from 0 to 1 in China and entered the phase from 1 to 10 this year. We will focus on meeting the health needs of people throughout their entire life cycle. Nestlé's core competitive advantage lies in having products for ages 1-100, solving nutritional problems in various life stages and physiological states," said Gu Xinxin.
Nestlé Health Science, which has entered a new phase in China, has outlined its key focus for next year. According to Gu Xinxin, on the one hand, the company will continue to promote the development of new products. On the other hand, Nestle Health Science will introduce more new products through cross-border channels next year.
Gu Xinxin believes that with the aging population, higher living standards and increasing consumer spending, and the "Healthy China 2030" plan, the health industry will continue to have a long period of growth. Nestlé Health Science will fully leverage its dual advantages in both medical nutrition and consumer healthcare products.