China’s approval of NMN supplements as food additives is expected to launch EZZ further into the Chinese supplements market.
EZZ Life Science (ASX:EZZ)’s vitamin products are about to get a huge boost in China, following the regulatory approval of the anti-aging Nicotinamide Mononucleotide (NMN) supplement as a food additive in the country.
The Chinese government approval is welcome news for EZZ, given that China is the biggest consumer of the NMN supplement in the world accounting for 67% of global consumption.
With an increasingly health conscious population, China tops the global NMN market which was valued at US$253m in 2020 by Nature Media, and is projected to reach US$386m by the end of 2027.
ASX-listed EZZ is a leading supplier of NMN, a form of vitamin B3 which is increasingly popular for its health and anti-aging benefits including improved mental clarity, energy and sleep.
The supplement has been endorsed by world-renowned scientific leader in the field of aging and longevity, Dr David Sinclair, and celebrities including Kourtney Kardashian.
“We welcome Tuesday’s regulatory change in China, which approves NMN as a food additive,” said EZZ’s chair, Glenn Cross.
“This change provides further assurance and certainty for both manufacturers and consumers regarding the safety and efficacy of NMN.”
EZZ brand gains popularity in China
Meanwhile, EZZ has received approval from the Australian Therapeutic Goods Administration (TGA) to export its NMN supplement.
With the growing demand for Australian clean and green products from the Chinese, Cross expects the company’s NMN supplement to be popular with consumers in China.
“Australia is regularly among the top five countries selling to China on Tmall Global and, as an Australian supplement brand, we continue to see very strong growth in the China market,” he said.
And as one of the few Australian suppliers of NMN in the market, EZZ expects to make significant sales not only on Tmall Global but also on Douyin, China’s version of TikTok.
“We anticipate that this development will create significant new opportunities for growth and expansion for our product,” said Cross.
EZZ’s brand has indeed continued to gain reputation and popularity in China.
It was recently selected as one of just four brands invited to attend Alibaba Group’s 11.11 Global Shopping Festival media briefing in Sydney.
The company sold a record of more than 41,600 items on Tmall and Douyin during the world’s largest shopping festival.
With the reopening of China’s borders, EZZ expects to see a pick-up in Chinese tourism in key markets of Australia and New Zealand this year, providing a significant boost to its tourism retail trading business.
This article was developed in collaboration with EZZ Life Science, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.