Sustaining past reports issued by Tharos, GOED just reported on its visit to UBM’s Health Ingredients China in Shanghai the three most prominent ideas regarding the Chinese market:
(1) Regulatory Uncertainty: Although everyone awaits the new fast-track approval system the Chinese government has announced, this does not happen yet, negatively impacting product development, but mostly hurting foreign respected brands. Fish oils and concentrates will most probably be added to that list.
(2) Krill Opportunities and Challenges: It is the hottest topic currently in China. An informal association of Chinese krill oil manufacturers has more than 20 companies in its membership and most of the krill oil made in China is being exported. Many companies are pursuing the Blue Hat product registration to sell krill oil as supplements in China, but the government has a limit for total arsenic in place that creates some difficulties.
(3) Pharmaceuticals: The attention also goes to the Chinese pharmaceutical market as the first Chinese omega-3 pharmaceutical is expected to be approved at the end of 2016 or early 2017, and more than eight other products have also been filed.