The urban population is increasing in Vietnam stood
at 34.6 Million in 2018 and is expected to triple by 2020 with major focus on
cities of Hanoi, Ho Chi Minh City, and Haiphong. The increase in urban
population will boost the nutritional supplements market as these people will
have a higher awareness about the health and wellness products and better
accessibility to the products.
The number of Gyms in Vietnam is expected to increase
to 6,882 in 2023 from 3,399 in 2018. The increase in number of gyms will be a
key driver in the growth of the consumer expenditure for health supplements.
Probiotics consumption helps in prevention of
ailments such as irritable bowel syndrome, gestational diabetes, allergies and
obesity. Moreover, increasing awareness among the consumers for the products
have helped in establishing brands such as Dsm Latti, Yakult, Probi, and others
in Vietnam.
Global Events such as Vita food
Asia will help in generating demand: Vietnam is going to host Vita
foods Asia 2020 in which numerous visitors and business delegates will visit
from different part of the globe. This nutraceutical event will help in
creating a more stable supply chain across Asian region. The event will feature
more than 380 companies from 78+ countries. This inflow of people will help in stable
the market for functional beverages in the country which has been declined
little after the implementation of Excise Duty on the energy drinks.
Key initiatives undertaken by
the government: The government of Vietnam is proactively participating in the
development of health and wellness awareness in the region. Healthcare is one
of the key focus for government in the Health Program 2030.Under the program
the government will focus on improving healthcare for children and students;
reduce dependence on tobacco and alcohol; ensure environmental sanitation and
food safety; and foster the early detection and management of a number of
non-communicable diseases, community-based healthcare provision, and the
delivery of healthcare services for the elderly and workers. In addition, to
this the government has also signed various free trade agreements to bring down
the cost of manufacturing as most of the raw material in Vietnam is imported.
New emerging channel of retail
and distribution in Vietnam: The retail scenario in Vietnam is changing with new channels
coming in the picture. There is increase in the number of pharmacy chains in
the region which has helped in increasing the sales for dietary and vitamin
supplements. Further, the growth of the online channels has been another major
development. Internet retailing is popular for different nutritional
supplements. This channel is popular
due to wide variety of product choices offered at a discounted price.
Analysts at Ken
Research in their latest publication “Vietnam Nutraceutical Market
Outlook to 2025 - By Dietary Supplements (Herbal Supplements, Vitamin and
Minerals, Probiotics, Protein and Amino Acid Supplements, Omega 3 Fatty Acids,
Others), By Functional Beverages (Energy Drinks, Plant based and Malt based Hot
Drinks Hot Drinks, and Sports Drinks), By Functional Foods (Dairy, Baby Food,
Breakfast Cereals, Confectionery, Hi-Fiber Biscuits, Snack Bars and Fruit
Snacks)”observed that nutritional
supplement in Vietnam is in its growth stage and is expected to expand due to rising
government initiatives, introduction of new product offerings which are
innovative and have scientifically-proven benefits, uses natural ingredients, market
promotions, practicing compliant marketing The market is expected to register a
positive CAGR of 7.0% in terms of revenue during the forecast period 2019-2025F.
Key Segments Covered:-
Dietary Supplements:-
By Type Herbal/Traditional Supplements, Vitamin and
Mineral, Probiotics, Protein and Amino Acid Supplements, Omega 3 Fatty Acids,
and others)
By Type of Vitamin (Single and Multivitamin)
By Distribution Channel (Chemists/Pharmacies,
DirectSelling, Drugstores/parapharmacies, Internet Retailing Hypermarkets, Home
shopping, Supermarkets, Vitamins and Dietary Supplements Specialist Retailers)
Functional Foods:-
By Type of Functional Foods (Dairy, Baby Food,
Breakfast Cereals, Confectionary, Hi-Fiber Biscuits, Multigrain Bread, Snack
Bars and Fruit Snacks)
By Type of Dairy Products (Milk, Flavored Milk,
Probiotic Yoghurt, Powdered Milk)
By Type of Baby Food (Growing-Up Milk Formula,
Follow-on Milk Formula, Standard Milk Formula)
By Distribution Channel (Hypermarkets, Supermarkets,
Convenience Stores and Independent Small Grocers)
Functional Beverages:-
By Product Category (Energy Drinks, Plant Based and
Malt Based Hot Drinks, Sports Drink )
Key Target Audience:-
Nutritional Supplements Manufacturers
Nutritional Supplements Distributors
Nutraceuticals Distributors
Government Agencies
Vitamins and Dietary Supplements Companies
Functional Foods Companies
Functional Beverages Companies
Hypermarkets and Supermarkets
Drug Stores and Pharmacies Chain
Online Sales and Retailing Agencies
Time Period Captured in the
Report:-
Historical Period: 2014- 2019
Forecast Period: 2020F – 2025F
Companies
Covered:-
Vitamins
and Dietary Supplements:-
Herbalife Nutrition Ltd
Traphaco JSC
Amway
Forever Living Products
International LLC
Tiens Vietnam, Herbalife Ltd
Nu Skin
Elken
Eco Pharma Joint Stock Company -
Vietnam
Haugiang Pharmarceutical JSC
Mega Lifesciences Pty Ltd
(Vietnam)
Davimin
Functional Foods:-
Vietnam Dairy Products
Royal FrieslandCampina NV
Abbott Laboratories Vietnam
Nestle Vietnam
Functional Beverages:-
Suntory PepsiCo Vietnam
Key Topics Covered in the Report:-
Vietnam Nutritional Supplement Market Overview and
Genesis
Vietnam Nutritional Supplement Market Size
Vietnam Nutritional Supplement Market Segmentation
Vietnam Vitamins & Dietary Supplements Market
Vietnam Functional Foods Market
Vietnam Functional Beverages Market
Trends and Developments in Vietnam Nutritional
Supplement Market
Regulations in Vietnam Nutritional Supplement Market
Issues and Challenges in Vietnam Nutritional
Supplement Market
Private label vs. Import- Preferred Strategy
Entry Barriers of Vietnam Nutritional Supplement
Market
Vietnam Nutritional Supplement Market Future
Projections, 2018-2023E
Analyst Recommendations
For
More Information on the research report, refer to below link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-9015378249
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