People in Vietnam are becoming increasingly health-conscious. Together with growing participation in sports and fitness activities, one of the main manifestations of this trend is rising consumption of health and wellness packaged food and beverages.
One of the main factors underpinning the success of FF products in Vietnam is that their benefits are more apparent to and easily understood by consumers than is the case with other types of health and wellness packaged food and beverages. Moreover, the addition of vitamins and other nutrients or functional ingredients typically does not affect the taste of FF products, whereas in the case of BFY variants taste is to some extent sacrificed to achieve reduced levels of fat, sugar etc.
Vietnam Dairy Products JSC (Vinamilk) remained the overall leader in health and wellness in Vietnam in value terms in 2018. This company has a longstanding presence in the country, and maintains a wide portfolio of trusted brands that are renowned for their high quality.
Towards the end of review period, the increasing popularity of health and wellness products in Vietnam was most evident in major urban centres such as Ho Chi Minh City, Hanoi, Da Nang and Can Tho. This was partly because urban consumers benefited most as economic growth supported rising disposable incomes and improvements in living standards.
The outlook for health and wellness in Vietnam is favourable, with overall retail volume and current value sales projected to grow strongly throughout the forecast period. The positive development of the market will continue to be underpinned by rising health-consciousness, with this trend only likely to gain momentum as improvements in internet connectivity make it easier for consumers to access information about nutrition and healthy dietary or lifestyle habits.
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Discover the latest market trends and uncover sources of future market growth for the Health and Wellness industry in Vietnam with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Health and Wellness market research database.