"China is already a large market for longevity. If you look at supplements, it's certainly one of the biggest markets," said Brian Kennedy, director of the Centre for Healthy Longevity at the National University of Singapore, adding that the market for longevity will continue to grow in China.
by Martina Fuchs
GSTAAD, Switzerland, Oct. 6 (Xinhua) -- Throughout human history, people have aimed for longer, healthier lives. As the global population is aging, the longevity industry, a rapidly growing sector focused on extending the human lifespan and improving the quality of life as people age, has experienced rapid growth in recent years.
The nascent industry encompasses a wide range of fields, including biotechnology, pharmaceuticals, and healthcare, all aimed at combating aging and age-related diseases. For investors in this field, China has abundant business opportunities that are irresistible.
China is set to become a leading market for longevity and supplements prolonging the lifespan and health span of its population, Brian Kennedy, director of the Centre for Healthy Longevity at the National University of Singapore said in an interview during the Longevity Investors Conference in the Swiss mountain town of Gstaad.
This comes from the traditional Chinese medicine (TCM) view, which is preventative in nature. The whole concept of TCM is based on keeping people healthy, he said.
"China is already a large market for longevity. If you look at supplements, it's certainly one of the biggest markets," the health expert said, adding that the market for longevity will continue to grow in China.
In 2023, people aged 60 and above in China amounted to 297 million, accounting for 21.1 percent of its total population.
Marc P. Bernegger, co-founder of the Longevity Investors Conference, had a similar view. He told Xinhua that China is a key focus for the booming industry.
"Chinese culture has always been affiliated with the term longevity," he said.
People in Europe get treated as soon as they are sick, but in China, people have a completely different approach, and that's why China has an obvious market when it comes to longevity-related businesses, he explained.
Swiss-based longevity supplement startup Avea also sees huge growth potential in China where people want to have solutions to staying healthy longer.
The company sells longevity and vitality supplement products ranging from stabilizers for blood sugar levels, collagen activators, cell primers, and antioxidant boosters, to rejuvenation products that reduce signs of aging.
"China is a big market for us, we've expanded into China through cross-border e-commerce on Douyin and Tmall. We have expanded further since we are on the Little Red Book, we are on Weixin and have our own Weixin channel," Duri Granziol, Avea's co-founder and CEO, told Xinhua, referring to Chinese commerce and social media platforms.
Thriving in the Chinese market requires a different approach due to the importance of building trust with consumers, he said. That's why the company has already collaborated with Chinese social media influencers and started to conduct live streams.
China has an amazing market and Chinese consumers demand actual quality, Granziol said, adding that Switzerland, as a leader in quality and as a manufacturing and research base, could provide high-quality products.■