Drivers Behind Dietary Supplement Consumption

Research output: Journal PublicationsPolicy or Profession paper

Abstract

A rapidly aging population is a global phenomenon.
Hong Kong is no exception to this trend due to rising life expectancy and declining fertility. It has been forecasted that the elderly population (aged 65 or over) in Hong Kong will increase from 1.07 million, accounting for 15% in 2014 to 2.58 million, or 36%, in 2064 (HKSAR, 2016, Hui and Yu, 2009). Due to the aging population, increasing stress at work and at home, and growing health awareness, there has been expansion in healthcare markets in both developed and developing countries in the last decade. The vitamins and dietary supplements (DS) market is one major sector that is growing and capitalizing on this trend. In Hong Kong, the vitamins and dietary supplements market had expanded to approximately HK$5,000 million in 2013 with a compound annual growth rate (CAGR) of approximately 12.3% since 2008. To sustain this growth, a better understanding of what drives consumers to take dietary supplements is highly necessary. Our study identified the most influential factors affecting consumers’ intention to buy DS and helped dietary supplements marketers to develop appropriate promotional and marketing communication strategies that enhance their target customers’ subjective norm concerning the benefits of DS as well as their perceptions over behavior control in taking DS. All of these should contribute to eventual success in building strong brands and satisfying consumption experiences in the dietary supplements markets.
Original languageEnglish
Pages (from-to)5-11
JournalHang Seng Management College Business Review
Volume1
Issue number1
Publication statusPublished - 1 Apr 2018

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Hong Kong
Aging population
Fertility
Consumption experience
Marketers
Influential factors
Marketing communications
Developed countries
Healthcare
Developing countries
Subjective norm
Life expectancy
Health
Communication strategies

Cite this

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title = "Drivers Behind Dietary Supplement Consumption",
abstract = "A rapidly aging population is a global phenomenon.Hong Kong is no exception to this trend due to rising life expectancy and declining fertility. It has been forecasted that the elderly population (aged 65 or over) in Hong Kong will increase from 1.07 million, accounting for 15{\%} in 2014 to 2.58 million, or 36{\%}, in 2064 (HKSAR, 2016, Hui and Yu, 2009). Due to the aging population, increasing stress at work and at home, and growing health awareness, there has been expansion in healthcare markets in both developed and developing countries in the last decade. The vitamins and dietary supplements (DS) market is one major sector that is growing and capitalizing on this trend. In Hong Kong, the vitamins and dietary supplements market had expanded to approximately HK$5,000 million in 2013 with a compound annual growth rate (CAGR) of approximately 12.3{\%} since 2008. To sustain this growth, a better understanding of what drives consumers to take dietary supplements is highly necessary. Our study identified the most influential factors affecting consumers’ intention to buy DS and helped dietary supplements marketers to develop appropriate promotional and marketing communication strategies that enhance their target customers’ subjective norm concerning the benefits of DS as well as their perceptions over behavior control in taking DS. All of these should contribute to eventual success in building strong brands and satisfying consumption experiences in the dietary supplements markets.",
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Drivers Behind Dietary Supplement Consumption. / LI, Esther Ling Yee; ZHU, Wenting.

In: Hang Seng Management College Business Review, Vol. 1, No. 1, 01.04.2018, p. 5-11.

Research output: Journal PublicationsPolicy or Profession paper

TY - JOUR

T1 - Drivers Behind Dietary Supplement Consumption

AU - LI, Esther Ling Yee

AU - ZHU, Wenting

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N2 - A rapidly aging population is a global phenomenon.Hong Kong is no exception to this trend due to rising life expectancy and declining fertility. It has been forecasted that the elderly population (aged 65 or over) in Hong Kong will increase from 1.07 million, accounting for 15% in 2014 to 2.58 million, or 36%, in 2064 (HKSAR, 2016, Hui and Yu, 2009). Due to the aging population, increasing stress at work and at home, and growing health awareness, there has been expansion in healthcare markets in both developed and developing countries in the last decade. The vitamins and dietary supplements (DS) market is one major sector that is growing and capitalizing on this trend. In Hong Kong, the vitamins and dietary supplements market had expanded to approximately HK$5,000 million in 2013 with a compound annual growth rate (CAGR) of approximately 12.3% since 2008. To sustain this growth, a better understanding of what drives consumers to take dietary supplements is highly necessary. Our study identified the most influential factors affecting consumers’ intention to buy DS and helped dietary supplements marketers to develop appropriate promotional and marketing communication strategies that enhance their target customers’ subjective norm concerning the benefits of DS as well as their perceptions over behavior control in taking DS. All of these should contribute to eventual success in building strong brands and satisfying consumption experiences in the dietary supplements markets.

AB - A rapidly aging population is a global phenomenon.Hong Kong is no exception to this trend due to rising life expectancy and declining fertility. It has been forecasted that the elderly population (aged 65 or over) in Hong Kong will increase from 1.07 million, accounting for 15% in 2014 to 2.58 million, or 36%, in 2064 (HKSAR, 2016, Hui and Yu, 2009). Due to the aging population, increasing stress at work and at home, and growing health awareness, there has been expansion in healthcare markets in both developed and developing countries in the last decade. The vitamins and dietary supplements (DS) market is one major sector that is growing and capitalizing on this trend. In Hong Kong, the vitamins and dietary supplements market had expanded to approximately HK$5,000 million in 2013 with a compound annual growth rate (CAGR) of approximately 12.3% since 2008. To sustain this growth, a better understanding of what drives consumers to take dietary supplements is highly necessary. Our study identified the most influential factors affecting consumers’ intention to buy DS and helped dietary supplements marketers to develop appropriate promotional and marketing communication strategies that enhance their target customers’ subjective norm concerning the benefits of DS as well as their perceptions over behavior control in taking DS. All of these should contribute to eventual success in building strong brands and satisfying consumption experiences in the dietary supplements markets.

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