Vietnam Nutritional Supplements Market Trends 2023- Industry Top Companies Share, Revenue, Growth Strategy, Challenges, Opportunities and Future Competition Report 2033: SPER Market Research
Often containing vitamins, minerals, herbs, or amino acids, nutritional supplements are goods used to enhance the diet. Capsules, pills, tablets, powders, liquids, or gummies are some of the fundamental forms of these supplements. A combination of minerals, vitamins, amino acids, healing plants, and other botanical compounds are frequently present in them. Minerals and vitamins, sports nutrition, botanical and herbal nutrients, meal replacements, and specialised supplements are just a few categories that nutritional supplements can be categorised into depending on their intended use. Each type serves a different purpose while focusing on certain customer needs.
According to SPER market research, ‘Vietnam Nutritional Supplements Market Size- By Form, By Ingredient, By Classification, By Distribution Channel, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Vietnam Dietary Supplements Market is predicted to reach USD 0.19 billion by 2033 with a CAGR of 10.07%.
Growing health consciousness increased disposable incomes, and shifting lifestyle preferences all contribute to the market’s expansion in Vietnam. To meet the different health and wellness demands of the Vietnamese population, the sector is regulated to assure product safety and quality. In Southeast Asia, the middle- and upper-class populations of Vietnam have been growing quickly. Consumer spending and the demand for goods that correct nutritional inadequacies are both predicted to benefit from economic expansion. Additionally, there has been a noticeable rise in demand for healthcare supplements among Vietnamese citizens. To tackle conditions like high blood pressure, diabetes, obesity, and cardiovascular illnesses, the local population is becoming more aware of health dangers and embracing preventive measures through the usage of nutritional goods. The use of dietary food products has increased dramatically as a result of this understanding, which will help the nation’s general health and wellness.
However, the high cost of nutritional supplements limits the market expansion for supplements in Vietnam. Some users find the high cost of these goods to be a barrier, preventing them from using them frequently or making it difficult for them to purchase supplements. The demand for nutritional supplements could consequently be affected, especially among price-sensitive consumers or in areas with lower income levels. Finding a balance between product quality and price to appeal to a wider client base may prove difficult for manufacturers and suppliers in the industry. For the market to thrive, it is essential to address the problem of high prices while preserving product effectiveness.
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Impact of COVID-19 on Vietnam Nutritional Supplements Market
The COVID-19 pandemic had an uneven effect on the market for dietary supplements in Vietnam. The market first experienced difficulties because of supply chain issues and temporary store closures. However, the pandemic’s enhanced health consciousness resulted in a spike in demand for supplements that boost immunity. Because people prefer contactless buying, online sales channels have seen substantial growth. Nutritional supplement use increased because of the pandemic’s hastened shift towards preventive treatment. Even though some market segments saw increase, consumer spending declines and economic uncertainty had an impact on the market’s overall growth. Even in the face of obstacles, the market proved adaptable, responding to shifting consumer demands and new opportunities during the pandemic.
Vietnam Nutritional Supplements Market Key Players:
Additionally, some of the market key players are Abbott Nutrition, Cliff Bar & Company, Glanbia plc, Herbalife International, Nestle, PepsiCo, Others.
Vietnam Nutritional Supplements Market Segmentation:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Form: Based on the Form, Vietnam Nutritional Supplements Market is segmented as; Capsules, Liquids, Powder, Tablets.
By Ingredient: Based on the Ingredient, Vietnam Nutritional Supplements Market is segmented as; Fatty Acids, Minerals, Protein, Vitamin.
By Classification: Based on the Classification, Vietnam Nutritional Supplements Market is segmented as; Over-the-counter (OTC), Prescription.
By Distribution Channel: Based on the Distribution Channel, Vietnam Nutritional Supplements Market is segmented as; Hypermarkets & Supermarkets, Online Channels, Pharmacy Stores.
By End User: Based on the End User, Vietnam Nutritional Supplements Market is segmented as; Adults, Children, Infants, Old-aged, Pregnant Women.
By Region: This research also includes data for East Vietnam, North Vietnam, South Vietnam, West Vietnam.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Vietnam Nutritional Supplements Market Future Opportunity
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