The
report titled “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) provides a
comprehensive analysis of the Nutraceutical market in the Vietnam. The report
also covers the overview and genesis of the industry, overall market size in
terms of revenue, segmentation on the basis of product category and channels of
distribution for functional foods, functional beverages and vitamins &
dietary supplements, trends and developments, issues and challenges, regulations
in the vietnam, value chain analysis, private label vs. import, competitive
scenario and company profiles. The report concludes with market projection and
analyst recommendations highlighting the major opportunities and cautions.
Vietnam Nutraceutical Market Overview and Size
Vietnam
Nutraceutical market grew at a higher single digit growth rate over the review
period 2014-2019. The market growth was supported by the increasing health
awareness, government initiatives, growth in the personal disposable income of
the people, rise in ageing population, and preventive nature of the age group
(25-45 years). The market was observed in the growth stage and will continue to
remain so in the forecasted period, 2019-2025.
A
change in consumption trend has been observed in the Vietnam health and
wellness industry, wherein the consumers are focusing more on the preventive
healthcare from taking health supplements in the old age to a shift in
increasing consumption of supplements in the earlier ages in order to prevent
them from permanently depending on pharmaceutical drugs. Nutraceutical are
positioning itself as natural and healthy alternative to traditional medicine
in the country.
Vietnam Nutraceutical Market Segmentation
Energy
drinks was the most contributing category in the development of the Functional
Beverages market. It is highly consumed by the teenagers and young adults.
The
remaining contribution in the market is made by the Vitamins and Dietary
Supplements in 2019. The market has developed due to the increase in
participation of people in the sports and fitness activities, also energy drink
is quiet famous among employees in Vietnam as it provides an extra energy boost
and acts as a stress buster among these individuals.
Competitive Landscape
Vietnam Functional Foods Market: Competition in the Vietnam Functional Food market was
observed to be highly concentrated with top two players that captured more than
half of the segment revenue in 2019. The market has large presence of famous
multinational giants with a few domestic players climbing up the ladder. Major
players in the Vietnam Functional Food market are Vietnam Dairy Products JSC
(Vinamilk), Royal FrieslandCampina NV, Nutifood Nutrition Food JSC, Abbott
Laboratories Inc, Nestlé SA, Reckitt Benckiser Group Plc (RB) and others. Over
the years, the competition is becoming intense and fierce as the companies are
focusing towards improving the quality of their products.
Vietnam Functional Beverages Market: The Functional Beverage market in the VIETNAM is moderately
concentrated with the top 5 players that captured more than about three fourth
of the industry revenue. Some of the major players in the market are TC
Pharmaceutical Industry Co Ltd, PepsiCo Inc, Nestlé SA, Masan Group Corp, Tan
Hiep Phat Group, Otsuka Holdings Co Ltd and others. The companies compete on
the parameters such as Branding, pricing, product diversification, marketing
and promotional techniques and others.
Vietnam Vitamins and Dietary Supplements Market: Competition in the Vietnam Vitamins and Dietary Supplements
market is witnessed to be highly fragmented with top 10 players that accounted to
less than half of the market. The major players operating in vitamins and
dietary supplements market are Herbalife Nutrition Ltd, Traphaco JSC, Taisho
Pharmaceutical Holdings Co Ltd, Amway Corp, Nu Skin Enterprises Inc, Tiens
Group Co Ltd, Sanofi, KT&G Corp, Khanh Hoa Pharmaceutical JSC and others.
The market is mostly dominated by the foreign players and is highly dependent
upon imports. The major distribution channel used by the companies are
Pharmacies and Chemists.
Vietnam Nutraceutical Market Future Outlook
The
Vietnam Nutraceutical market is expected to grow in the future with a single
digit CAGR over the forecast period (2019-2025F). In Future, it is expected
that Functional Food will continue to dominate the market, withmore than half
of the total revenues. The dairy products will be the most demanded category in
the functional food market and in dairy products, yogurts will be the most
demanded product.
Vietnam
Functional Beverages is expected to have sluggish growth in the future, mainly
as the market will cope with the decline as an additional tax is proposed on sugary
drinks. In2020, the market will see high growth due to the advent of Vietnam F1
Grandprix 2020 as majority of the energy drinks are sponsoring the event.
Vitamins
and dietary supplements market will have the least market share among all the
three categories in Nutraceutical market by the year 2025. Herbal Supplement
Supplements will be leading the market by capturing most of the market by the
end of the year 2025. In future, it is antcicipated that multivitamins are
expected to lead the vitamins and minerals market by the year 2025.
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
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
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