Bone, cognitive health the leading nutraceutical categories in Vietnam

Vietnam is top of mind when it comes to the list of emerging markets – spanning across different sectors from health and wellness to beauty – across Asia-Pacific in the past few years.

Fast economic growth and increased purchasing power are often cited as reasons why the market is as having a high growth potential.

There has been a flurry of activities in the country’s nutraceutical space in recent months.  

Haleon officially launched its Centrum multivitamins, including its Centrum Silver 50+, on online channels such as Lazada and Shopee, as well as offline retail about a month ago, while Swedish probiotics supplier Probi made its debut in end March.

According to data NutraIngredients-Asia ​had gathered from the Vietnam Association of Functional Foods (VAFF), Vietnam’s dietary supplement market is made up of 60 per cent local products and 40 per cent imported products.

The interest in Vietnam is not only coming from multinational firms, but also fellow South East Asian countries. Singapore’s QN Wellness​ is one example which sees Vietnam as a market of interest and sees potential for supplements that support ageing needs.

Vietnam is only behind Thailand and Singapore when it comes to the proportion of its population aged 65 and above. Between 2019 and last year, the proportion of adults aged 60 and above had risen from 11.9 per cent to 13.9 per cent.

This could also explain why certain brands such as Australia’s Henry Blooms, has noticed a strong demand for ageing-related supplements in Vietnam – especially those that support bone health.  

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