Vitamins experienced strong double-digit current value growth in 2021 in a continuation of most years of the review period. Due to the COVID-19 pandemic, there was a dramatic increase in demand for vitamins, as many people believed that their consumption could help them maintain their immunity, good health and help prevent them contracting the virus.
As the level of COVID-19 grew in severity in 2020, not only in Asian countries but also all over the world, there was a shortage of vitamins products imported from Western countries such as Australia and the US. More consumers began purchasing vitamins, with some stockpiling these products to make sure they had enough to take them through the lockdown.
Since the outbreak of COVID-19, the Vietnamese government has encouraged people to take vitamin C, balanced nutrition and exercise regularly to improve the immune system. Indeed, there has been a wealth of media coverage related to the benefits of taking vitamin C, in health departments in each province and on various channels including social media.
Once the country’s vaccination “made in Vietnam” programme gathers momentum in 2022, demand for vitamins is predicted to grow at a slower pace as people will feel safer and reduce their demand to stock vitamins at home. Category maturity will be a further factor affecting to slower growth rate of vitamins in both value and volume sales over the forecast period.
The competitive landscape of vitamins is predicted to be tougher for both new and existing players although the category has strong potential due to the ageing population. For example, due to the rise of sports nutrition, meal replacement and supplement nutrition drinks such as Herbalife and Ensure respectively, these products can also provide a number of necessary vitamins.
Over the review period, people 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.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
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.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!