Herbalife to open innovation center in China 10-21-2019

China is one of the largest and fastest-growing economies of the world. The country is not only the largest in terms of population and consumption of products but is also the major player in many manufacturing industries such as vitamins, animal feed, proteins, active pharmaceutical ingredients, functional and frozen foods, beauty products and technology. Furthermore, because of its supportive economy and large market, it is the main operating region for many global brands. These brands or enterprise not just support the growing economy of the country but also bring innovation and technology in the region.

Recently, a premier global health nutrition company Herbalife Nutrition announced to open the Product Innovation Center in Shanghai by the third quarter of 2020. According to the Chairman of Herbalife Dr. Qunyi Zheng,” opening the center allows us to strengthen our local research and development capabilities to deliver more science-backed, quality products and we expect to double both the number of products and the speed to market in next five years “. The total investment for this project is expected to be 100million RMB for the next three years, and the Innovation Centre will be in Zhangjiang Hi-Tech Park, also referred to as “China’s Silicon Valley”.

At the center, the company plans to conduct studies around weight management, sports nutrition, and personalized nutrition to better serve the consumers. Currently, the company has its presence in the country through meal replacement products and protein milkshakes.

Impact on China’s Dietary and supplement industry:

The innovation center will not just help the company in introducing new products specifically in the nutrition industry but will also aid in boosting the demand for raw material used in the manufacturing of those products specifically the vitamins, minerals, and proteins. China is the largest vitamin and plant protein manufacturers and supplier in the world and with growth in the nutrition sector, these industries will automatically experience enhanced demand. Furthermore, the innovation center will also help in rebuilding the trust of local consumers on local nutritional products, which was broken by adulteration, wrong labeling, and quality of nutritional goods offered in the past.

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