Press Release

Vietnam Dietary Supplements Market to Grow with a CAGR of 6.58% through 2028

Surge in research and development activities is expected to drive the Vietnam Dietary Supplements Market growth in the forecast period, 2024-2028.

According to TechSci Research report, “Vietnam Dietary Supplements Market– By Region, Competition, Forecast and Opportunities, 2018-2028F”, the Vietnam Dietary Supplements Market stood at USD325.47 million in 2022 and is anticipated to grow with a CAGR of 6.58% in the forecast period, 2023-2028. The initiatives taken by government based on dietary supplements has led to favorable market conditions for the Vietnam Dietary Supplements Market. Several factors contribute to the growth of various dietary supplements market products.

The Vietnamese government has introduced a comprehensive policy to address the issue of micronutrient deficiency. This policy aims to not only raise awareness but also encourage the consumption of vitamin and mineral supplements, prioritizing vulnerable groups such as children and pregnant women.

In addition to recognizing the cultural significance of traditional dietary supplements, the government has taken proactive steps to promote their use. This includes providing support for research and development initiatives, ensuring that these supplements are backed by scientific evidence. Furthermore, efforts are being made to integrate traditional dietary supplements into modern healthcare practices, allowing for a holistic approach to health and well-being.

Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Vietnam Dietary Supplements Market

Research and development (R&D) activities have emerged as a crucial driver in this market. Companies are making significant investments in R&D to create new products and enhance existing ones, with the aim of meeting the evolving needs and preferences of consumers.

Innovation in the field of dietary supplements often involves the exploration of new ingredients or combinations, improvement of delivery methods, and enhancement of absorption rates. By doing so, companies can differentiate their products in a highly competitive market and cater to specific consumer groups, such as seniors or athletes.

The Vietnam Dietary Supplements Market is segmented in product type, form, distribution channel, application, end user, regional distribution, and company.

Based on its product type, the combination dietary supplements segment held the largest share in the market. Vietnamese consumers are becoming increasingly aware of the importance of health and well-being in their lives. This awareness has led them to actively seek out natural ways to improve and maintain their health. In their search for effective solutions, they have discovered the benefits of combination supplements. These innovative products offer a convenient and holistic approach to addressing multiple health concerns. By providing a blend of carefully selected ingredients, combination supplements offer a comprehensive solution that supports overall health and well-being. With the rising demand for these products, Vietnamese consumers now have access to a wide range of options that cater to their individual health needs and preferences.

Based on region, northern segment is expected to grow during the forecast period.

In the region, there is a notable and growing population of elderly individuals who are increasingly relying on dietary supplements to address various age-related health concerns. This demographic trend, characterized by a larger proportion of older adults, significantly contributes to the robust demand for dietary supplements specifically in Northern Vietnam. This highlights the importance of catering to the unique needs and preferences of this demographic, and the potential for further growth and development in the dietary supplement industry within the region.

Major companies operating in Vietnam Dietary Supplements Market are:

  • Herbalife Vietnam Ltd.
  • Traphaco JSC
  • Bayer Vietnam Ltd.
  • DHG Pharmaceuticals Joint Stock Company
  • Amway Vietnam Ltd.
  • Nestle Vietnam Ltd.
  • Forever Living Vietnam Ltd.
  • Tiens Vietnam Co Ltd.
  • Life Extension Vietnam
  • Nu Skin
  • Mega Lifesciences Public Company Limited

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“Growing application of dietary supplements in various end user industries are key drivers of the dietary supplements market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of dietary supplements with every passing year are anticipated to register an impressive growth to Vietnam Dietary Supplements Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

Vietnam Dietary Supplements Market By Product Type (Vitamin, Combination Dietary Supplement, Protein, Herbal Supplement, Fish Oil & Omega Fatty Acid, and Others), By Form (Capsules, Tablets, Powder, Soft Gels and Liquid), By Distribution Channel (Pharmacies and Drug Stores, Online, Supermarkets and Hypermarkets and Others), By Application (Immunity, General Health, Energy & Weight Management, Bone & Joint Health and Others), By End User (Adults, Geriatric, Pregnant Females, Children, Infants), By Region, By Competition Forecast & Opportunities, 2018-2028F”, has evaluated the future growth potential of Vietnam Dietary Supplements Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Vietnam Dietary Supplements Market.



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