BRIGHT FUTURE FOR CONSUMER HEALTH AND WELLNESS IN VIETNAM
2016
Rapid growth
1. Health and wellness
Thanks to the economic recovery and rising health awareness, health and wellness products become more popular, registering current value growth of 12% in 2015. Moreover, key players constantly carried out marketing campaigns and introduced new products to boost sales.
As the key targets of health and wellness products are middle- and high-income consumers in urban areas, manufacturers made premium packaging to gain consumers’ trust. So packaging and advertisements were the main contributors to market growth.
During 2014-2015, the competition became fiercer, especially in FF baby food and RTD tea with a combined value share of 54% of health and …show more content…
Hectic lifestyle and higher pollution cause more people to fall ill. Consumers are willing to spend more to buy good quality medicines.
However, more and more consumers purchased parallel imports of consumer health products, mostly from unregistered businesses and via internet. This trend may negatively affect value growth of consumer health.
Consumer health remained fragmented with huge numbers of both international and local brands competing in different areas. In general, international players outperform on most categories due to their financial capacity and wide distribution networks. Local players target middle-low income consumers and expand their distribution networks to suburban and rural areas.
In 2016, an increasing number of consumers prefer to purchase health products online because of cheaper price and fast delivery. But their huge concern is counterfeit or low-quality products. Most popular products are vitamins, dietary supplements, weight management and …show more content…
Health and wellness Health and wellness products grew only in large cities and urban areas. This trend was not seen in rural areas where the majority of residents are low-income consumers.
Over the forecast period, health and wellness products are expected to continue to grow thanks to higher incomes, better education of consumers and the effort of players. Key manufacturers such as Vietnam Dairy Products and Tan Hiep Phat Group are likely to invest in R&D to introduce new products to customers. In the meantime, many small trading companies are predicted to import branded international products from trustworthy countries such as the US, Australia or Japan into Vietnam to cater to middle- and high-income consumers.
Over the forecast period, players are expected to continue to focus on packaging and advertising to ensure success as consumers are strongly influenced by these two factors. In the meantime, small players are expected to focus on expanding their distribution network, putting their products in premium supermarkets such as An Nam Gourmet…
In 2015, fortified/functional products remained the most popular within health and wellness with a 59% value share. Within fortified/functional products, FF baby food recorded a 69% value share because it was always a priority for Vietnamese
2016
Rapid growth
1. Health and wellness
Thanks to the economic recovery and rising health awareness, health and wellness products become more popular, registering current value growth of 12% in 2015. Moreover, key players constantly carried out marketing campaigns and introduced new products to boost sales.
As the key targets of health and wellness products are middle- and high-income consumers in urban areas, manufacturers made premium packaging to gain consumers’ trust. So packaging and advertisements were the main contributors to market growth.
During 2014-2015, the competition became fiercer, especially in FF baby food and RTD tea with a combined value share of 54% of health and …show more content…
Hectic lifestyle and higher pollution cause more people to fall ill. Consumers are willing to spend more to buy good quality medicines.
However, more and more consumers purchased parallel imports of consumer health products, mostly from unregistered businesses and via internet. This trend may negatively affect value growth of consumer health.
Consumer health remained fragmented with huge numbers of both international and local brands competing in different areas. In general, international players outperform on most categories due to their financial capacity and wide distribution networks. Local players target middle-low income consumers and expand their distribution networks to suburban and rural areas.
In 2016, an increasing number of consumers prefer to purchase health products online because of cheaper price and fast delivery. But their huge concern is counterfeit or low-quality products. Most popular products are vitamins, dietary supplements, weight management and …show more content…
Health and wellness Health and wellness products grew only in large cities and urban areas. This trend was not seen in rural areas where the majority of residents are low-income consumers.
Over the forecast period, health and wellness products are expected to continue to grow thanks to higher incomes, better education of consumers and the effort of players. Key manufacturers such as Vietnam Dairy Products and Tan Hiep Phat Group are likely to invest in R&D to introduce new products to customers. In the meantime, many small trading companies are predicted to import branded international products from trustworthy countries such as the US, Australia or Japan into Vietnam to cater to middle- and high-income consumers.
Over the forecast period, players are expected to continue to focus on packaging and advertising to ensure success as consumers are strongly influenced by these two factors. In the meantime, small players are expected to focus on expanding their distribution network, putting their products in premium supermarkets such as An Nam Gourmet…
In 2015, fortified/functional products remained the most popular within health and wellness with a 59% value share. Within fortified/functional products, FF baby food recorded a 69% value share because it was always a priority for Vietnamese