More than 1,000 U.S. corporate buyers also have registered with the
B2B site, which aims to create a new e-commerce standard.
The announcement comes as Chinese President Xi Jinping meets with
U.S. technology executives.
LA MIRADA, Calif.–(BUSINESS WIRE)–Ingredientsonline.com,
a new B2B e-commerce platform that enables U.S. companies to buy
nutritional raw materials directly from Chinese factories, announced
today that it has signed partnership agreements with more than 50
leading manufacturers in China.
Meanwhile, more than 1,000 U.S. companies have registered to buy
products from the site’s Chinese factory-partners. Ingredientsonline.com
projects more than 120 Chinese partners and more than 3,000 U.S.
companies will be using the service by yearend.
The announcement comes against the backdrop this week of Chinese
Jinping’s highly anticipated visit to the United States, which
includes a stop in Seattle to meet with leading U.S. technology
executives. And the announcement comes as China seeks to boost its
economy through an “Internet
Plus” strategy that integrates online technologies and e-commerce
with traditional manufacturing and business.
“Ingredientsonline.com is a game changer,” says Sherry Wang, President
of Green Wave Ingredients, a leading U.S. supplier of nutritional raw
materials based in La Mirada, Calif., which created and manages the
site. “We want to set a new standard for doing business in a global
marketplace increasingly driven by the Internet and e-commerce.”
“We are excited to be part of an e-commerce marketplace where we can
sell directly to customers and promote our products and brand in the
U.S.,” says Yanhong Zhang, President of Jilin Haizi, the world’s
second-largest manufacturer of inositol, which is used in products such
as energy drinks, infant milk powder and vitamin supplements.
Chinese partners include such leading nutritional raw ingredients
manufacturers as Kingdomway, which recently acquired Doctor’s
Best and Vitatech
Nutritional Sciences in the U.S., Hubei Xingfa, one of the largest
chemical company in China (public), and Jiangyin Huachang, a leading
manufacturer of taurine and one of the major suppliers to Red Bull
Executives from ingredientsonline.com will join more than 100
representatives of Chinese partners and U.S. buyers on Oct 6th
in Las Vegas for “Welcome to the Future–An Introduction to
Ingredientsonline.com: The Global Factory-Direct Marketplace for
Nutritional Raw Materials.” The session is part of the industry’s SupplySide
West trade show that runs from Oct. 5-9.
Ingredientsonline.com launched quietly in April and began negotiating
with prospective partners in July. The platform replaces the
current manual system used by the industry, in which buyers negotiate
transactions over the phone with brokers, who control quality, product
inventory and availability. By contrast, ingredientsonline.com creates a
new e-commerce model, providing buyers with transparency about suppliers
and purchases, factory prices, and products distributed reliably from
U.S. warehouses. Ingredientsonline.com also offers offline services such
as its own product lab and inspection team in China, and dedicated
customer service and sales personnel who work with Chinese partners and
U.S. corporate buyers.
The U.S. nutritional and dietary supplement market is $35-billion-a-year
industry that includes such products as vitamin C, glucosamine, CoQ10
and other antioxidants, minerals, and amino acids. Ingredientsonline.com
U.S. customers include leading manufacturers and distributors of natural
foods and supplements such as Abbott Nutrition, Now Foods, Herbal Life
Magnuson & Company