Opportunity for Vitamin and Mineral Growth in Vietnam

 

Vietnam’s middle- and upper-classes are expanding. Vietnam’s health supplement business has transformed in 20 years. According to a British Chamber of Commerce report from August 2021, the local health supplement market reached $562,9 million, up 13%. The market will grow 20% yearly over the next decade. Foreign health supplements are more popular because people trust Western brands over domestic ones. Local companies target the general market, while Western brands target luxury consumers. 2021 was dominated by herbal and traditional supplements. Herbal supplements are expected to dominate, but Western vitamin and mineral supplements could rise if promoted successfully. The percentage of Vietnamese over 18 who take health supplements has risen to 58.5% and is rising annually.
 

People’s Points of View

 

The local population is becoming more aware of specific health risks and the use of dietary supplements to help alleviate diseases such as high blood pressure, diabetes, obesity, and cardiovascular disease, all of which have increased in prevalence.
 

Retail Industry Sales in the Vietnam

 

59 percent of Vietnamese respondents who used dietary supplements or nutraceuticals said they purchased them from retail stores.