There will be a strong rebound in demand for vitamins during 2023, with growth in retail constant value sales set to remain elevated throughout the forecast period. Growth will be supported by an ageing population, accelerating lifestyles and heightened local consumer interest in health and wellness, particularly preventative healthcare, which is set to outlast the pandemic.
During the forecast period, vitamins will face increased competition from such emerging categories as sports nutrition, as well as meal replacement and supplement nutrition drinks from the likes of Herbalife and Ensure, respectively. Moreover, vitamins are increasingly being added to such products as dietary supplement, analgesics and cough remedies.
Over the review period, local consumers started to pay more attention to their health and appearance and were willing to spend on healthcare products despite their high prices. Indeed, vitamin E and C received huge attention from both companies and consumers in the last few years.
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Understand the latest market trends and future growth opportunities for the Vitamins industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Vitamins industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is the aggregation of multivitamins and single vitamins.See All of Our Definitions
This report originates from Passport, our Vitamins research and analysis database.
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