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
Functional Food segment was the leading category in
the market in 2019. The high consumption of dairy products especially milk is
one of the key growth drivers for the products in the Vietnam market. This
segment was followed by the Functional Beverages market.
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 )
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:-
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