Asia-Pacific Supplement Giants Face Mixed Fortunes: BYHEALTH Down, Swisse & Vita Life Sciences Up
Major supplement players in Asia-Pacific report diverging H1 2025 results; BYHEALTH's profits decline by 17% amid fragmented retail, while Swisse posts 5.8% revenue growth driven by innovation in China and Australia. Vita Life Sciences leverages Singapore and Malaysia to offset China/Vietnam dips.
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Major supplement brand owners in the Asia-Pacific region are reporting a varied financial performance for the first half of 2025, reflecting divergent market conditions and strategic effectiveness. China's BYHEALTH, a prominent health supplements firm, reported a substantial 17.34% decline in net profit attributable to shareholders, reaching RMB736.5m (US$102.5m). Operating revenue also fell by 23.43% to RMB3.5bn (US$491.7m). This performance is attributed to a continually fragmented retail environment, prompting the company to redirect resources towards Southeast Asian market expansion.
Conversely, Swisse demonstrated robust growth, with revenue increasing by 5.8% from RMB3.3bn to RMB3.4bn (US$477.5m). This uplift was primarily driven by innovative product launches in beauty-from-within, anti-ageing, and magnesium glycinate categories, aligning with evolving consumer preferences in key markets including China, Australia, and New Zealand.
Australian firm Vita Life Sciences posted a 14% rise in total revenue to AUD$45.5m (US$29.5m) and a 12% profit increase to AUD$4.8m (US$3.1m) for H1 2025. This positive outcome was significantly bolstered by strong performances in Singapore and Malaysia, which successfully counteracted sales declines experienced in China and Vietnam. Growth drivers included enhanced retailer collaborations and strategic product expansion within Singaporean pharmacy chains.
In the infant formula sector, The a2 Milk Company (a2MC) is moving to acquire a manufacturing facility from Yashili New Zealand. This strategic acquisition aims to scale up its China-label infant formula production, following a 3.3% sales growth in this segment for FY25. The company achieved a record 4% market share in Stage 1 products in China's mother-and-baby channels, driven by effective new user recruitment initiatives. Meanwhile, Haleon is targeting growth in lower-income consumer segments, particularly in India and the Philippines, with new product introductions like Centrum Recharge, an energy drink mix priced at 60 rupees (US$0.68) in India, to mitigate headwinds in the US market.
What this means for China
Chinese supplement manufacturers and brand owners face intensified pressure from domestic retail fragmentation, necessitating a pivot towards optimised channel strategies or export-led growth into Southeast Asia. Brands like Swisse highlight the commercial imperative of rapid innovation in anti-ageing and condition-specific ingredients, offering clear reformulation windows. Infant formula producers must note a2MC's aggressive localisation strategy through direct manufacturing, signalling heightened competition and potential pressure on MOQs and lead times from domestic players. Regulatory teams must monitor any shifts in import/export requirements as major players recalibrate their market focus, potentially creating opportunities for contract manufacturers geared for international compliance.
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