Vietnam Nutraceutical Market, Vietnam Nutraceutical Industry, Market Revenue: Ken Research

How Nutritional Supplement Market is Positioned in Vietnam?

In 2019, revenues of Vietnam nutraceutical industry including dietary supplements, functional foods and functional beverages collectively, accounted to USD ~ million. The market recorded the growth at a CAGR of ~%, from USD ~ million generated in the year 2014. The rising awareness and knowledge about health and fitness is one of the major drivers for nutraceutical market in Vietnam. The Vietnamese population strongly believes that diet has a major role to play in health aspects. Increase in the purchasing power has also helped the Vietnamese population in spending high amount towards good quality nutritional supplements in order to adopt a healthy living lifestyle. Additionally, increasing number of working women has helped the nutraceutical market in Vietnam in gaining high as they don’t have time to cook meals from scratch and need the nutrient for themselves as well for their family in one meal.

By Dietary Supplements, Functional Foods and Functional Beverages: Functional foods segment dominated the Vietnam nutraceutical market with revenue share of ~% in 2019. The growing health consciousness and self health conscious attitude among Vietnamese population is the major factor responsible behind such high share of the segment in the country. Dietary supplements segment has grown over a CAGR of ~% in the historical period of five years from 2014 to 2019 due to growing awareness among customers about the benefits of nutraceutical which have been spread via word-of-mouth, rising education levels and advertising.

As the local market of Vietnam is increasing in demand for the functional beverages especially energy and sports drinks a lot of foreign players are entering the Vietnam market. Functional Beverage segment dominated the Vietnam nutraceutical market with revenue share of ~% in 2019. The rising number of sports and fitness enthusiasts are expected to boost the market for sports drink.

Vietnam Nutraceutical Market Segmentation

Functional Foods: The functional foods segment is the leading product segment in the Vietnam nutraceutical market with a revenue share of ~% in 2019. The market for functional food has increased as consumers are becoming more aware about the adulterated chemicals and preservatives used in their food products, the consumers are shifting to products made from natural ingredients, containing added nutrients in order to support the hectic and stressful fast paced lifestyle of the consumers. Dairy based products are the leading product category in the functional food market. In this the major demand is for dairy based probiotic yogurts as these products enhance the digestive system by maintaining good gut health. Dairy products are followed by baby food products as the second most contributing category in the market. However, with international brands entering the market the domestic sector is facing fierce competition.

Functional Beverages: The Vietnam Functional Beverage market revenues have been growing over the years as from USD ~ Million in the year 2014 to USD ~ in 2019, thereby displaying a five year CAGR of ~% over the review period 2014-2019. The growing health concerns among the people in the country have resulted in investments by international and domestic players in the market who are launching innovative drinks in the market which are aimed to improve health in the market. There has been an increase in marketing and advertising activities to make consumers more aware about energy drinks, which has increased the revenue for this segment.

There has been a declined the market for the Plant based and Malt based which is second biggest product category for the Vietnam Functional Beverages.

Dietary Supplements: Herbal supplements was the largest revenue contributing product segment with a share of ~% in the Vietnam nutraceutical market in 2019.The market was valued at USD ~ Million in 2014 and reached to a value of USD ~ Million in 2019 and registered a five year CAGR of ~% during the period 2014-2019. The consumers believe that herbal or traditional products have fewer or no side effects in comparison with standard products constituting natural ingredients. The market is currently in growth stage in the Vietnam and expected to develop more in the upcoming years. Ginseng was the most popular herbal dietary supplement used in Vietnam. Omega 3 fatty acid segments are gaining popularity in the country with growing number of patients suffering from cardiac disorders. The highest selling omega 3 fatty acids supplements in Vietnam are fish oil supplements. The segment grew at the highest CAGR of ~% in the estimated period of five years from 2014 to 2019.

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 )

By Distribution Channel (Hypermarkets, Independent Small Grocers, Supermarkets, Convenience Stores, Forecourt Retailers, Vending and Other Grocery Retailers).

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

For More Information on the research report, refer to below link:-

Vietnam Nutraceutical Market

Related Reports:-

UAE Nutritional Supplements Market Outlook to 2023 - by Vitamins & Dietary Supplements (Protein Supplements, Non-Herbal Dietary Supplements Composites, Fish Oils/Omega Fatty Acids, Glucosamine, Co-Enzyme Q 10, Herbal Dietary Supplements Composites, Yeast, Garlic, Ginko Biloba), Functional Foods (Dairy, Baby Food, Breakfast Cereals, Cooking Oil Confectionary, Sweet Biscuits, Snack Bars and Fruit Snacks) and Functional Beverages (Energy Drink, FF Concentrates, Sports Drink, and Bottled Water)

Singapore Nutraceutical (Vitamin And Dietary Supplements, Functional Food And Beverages) Market Outlook To 2023 - Maturing Market Backed By Demand From Millennials For Multivitamins And Mineral

Indonesia Nutritional Supplements Market Outlook To 2023 - By Vitamins (Single Vitamin And Multi-Vitamin) & Herbal And Standard Dietary Supplements (General Health, Beauty, Digestive, Bone, Heart Health, Memory, Joint), Functional Beverages And Functional Food

Philippines Nutraceuticals Market Outlook to 2022-Composite Herbal Dietary Ingredients, Ginseng, Garlic and Ginkgo Biloba Based Herbal Supplements will Drive the Growth

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