Hong Kong NMN Market Surges; Brands Adapt to Cross-Border Retail Shifts

Hong Kong's health supplement market is seeing a substantial boom in nicotinamide mononucleotide (NMN) products, aligning with a broader consumer focus on anti-ageing. This trend, initially popularised in mainland China, has led to over 30 NMN brands saturating the Hong Kong market. Companies like Catalo and NUNMN are capitalising on this demand, with Catalo offering eight NMN SKUs, including its HKD $1,888 'NMN 18000' SKU. The typical NMN consumer is a woman aged 40-50, experiencing fatigue or seeking anti-ageing benefits, with men also increasingly using NMN for vitality.

Market dynamics are complex, influenced by shifting consumer behaviour. Pre-pandemic, mainland Chinese tourists were a primary consumer base for Hong Kong nutraceuticals; their reduced footfall and the increasing trend of Hongkongers travelling to Shenzhen for weekend shopping trips (e.g., 92,753 residents on the first weekend of August 2024, up from 60,019 year-on-year) pose challenges for local retailers. This cross-border movement, even facilitated by services like 7-Eleven selling bus tickets to Shenzhen, impacts local sales but less so for the nutraceutical sector due to strong brand loyalty, according to Catalo.

Achieving market cut-through requires strategic differentiation. Catalo's Senior Business Director, Nicole Leung, attributes NMN's popularity to consumer curiosity in new health innovations and effective social media marketing by influencers. With prices for NMN products in Hong Kong often exceeding HKD $1,000, integrating scientifically validated ingredients, as Catalo aims to do, becomes critical. The market also includes other NAD+ precursors, such as nicotinamide riboside (NR), notably popularised by Li Ka-shing's investment in Chromadex and its distribution through Watsons stores.

Beyond NMN, other prominent categories in Hong Kong include immunity support (probiotics) and maternal/children's health (folic acid, DHA, calcium). The city's fast-paced lifestyle drives demand for supplements as essential health solutions, with consumers willing to pay a premium. Despite the lure of cross-border shopping, Hong Kong consumers demonstrate high loyalty to established supplement brands, contrasting with mainland Chinese consumers who are more influenced by social media platforms like Xiaohongshu. Brands combat reduced footfall by offering in-store services, such as free health consultations, to maintain consumer engagement.

What this means for Hong Kong

Hong Kong-based supplement manufacturers and brand owners must develop robust product differentiation strategies, leveraging clinical evidence for NMN and other premium ingredients to justify high price points, with current NMN products retailing for up to HKD $2,588. Brands should invest in direct-to-consumer engagement, such as in-store consultations, to capitalise on the strong local consumer loyalty and mitigate impacts from weekend shopping in Shenzhen. Furthermore, with intense competition (30+ NMN brands), market entrants must clearly articulate unique selling propositions to secure shelf space and consumer trust, rather than relying solely on category growth.

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