Sales boosted by consumer fear of healthcare costs, says Fenchem

Related tags Nutrition Medicine

Chinese ingredient group Fenchem has said it has remained unharmed by the global economic environment partly because consumers have been embracing health foods and supplements as they try to avoid high medical costs.

In its 2008 annual report the company said its revenues for the year grew by 35 percent.

“With the financial climate bringing closer scrutiny to business and personal budgets alike, we deem that sales of healthy foods and supplements may benefit because individuals place greater emphasis on maintaining wellness through dietary choices, rather than face often exorbitant costs in the medical system,”​ said the firm.

“The effect will be to reinforce the core nutrition business trends and we believe that the outlook is optimistic.”

Fenchem said that much of its gain was a result of the new office it opened in Chino, California, last year. By providing a large warehouse system in the US, the new establishment contributed to increasing sales in the country by almost 50 percent.

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