Vietnam Health Supplement Market 2014

Market Overview

According to the chairman of the Vietnam Association of Functional Foods, the health supplement sector is one of the fastest growing food sectors over the past decade, with an average annual growth rate of 25%. In 2012 total market value was equivalent to $526 million (accounts for nearly 10% of the ASEAN market).

International manufacturers continue to dominate the market. Foreign brands tend to be positioned in the premium segment to attract mid-high end consumers, while local brands generally concentrate on the mass market. In addition, foreign players are also more active in non-herbal/traditional products, while local players are more prominent in herbal/traditional dietary supplements. Imported products account for 40% of the market share.

The most popular official retail channels are direct selling and chemists, pharmacies, healthcare & beauty care retail shops and foreign product specialty stores.

Herbal and traditional supplements products account for more than 70% of the market (top selling product is gingseng). The main areas of health concern are eye health, digestive health, heart health, mental health, women's health and children’s health. Read More