Ingredientsonline.com Announces It Has Signed More Than 50 Chinese Manufacturing Partners to New E-Commerce Service
By Business Wire News
By Business Wire News
LA MIRADA, Calif.
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 President Xi 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 energy drink.
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 and Dymatize.
Magnuson & Company