Lately, Korean firms have been actively promoting probiotic supplements by producing goods tailored for certain ages and genders, particularly newborns and young children.
As of 2021, Vietnam’s imports of probiotic goods have grown at a 16% annual pace over the previous five years.
Probiotics are the most common functional food products in Vietnam, where they can be easily acquired without a doctor’s prescription, and where customers prioritize “reliability” and “safety” over price.
Because of this, and the belief that foreign items have been proven beneficial for a long period, Vietnamese customers choose imported products from the United States, Europe, and Japan.
The import volume of probiotic goods from South Korea in 2021 was around 41 million USD, moving Korea from the 8th position of provider in 2017 to the 4th position in 2021.
Numerous Korean products, such as ‘Vitamin PLUS’ by Ildong Foodis, ‘Duolac Baby Probiotics’ by Cell Biotech, and ‘Daily Probiotics’ by Mediogen, are supplied in Vietnam.
Korean products, like other imported brands, are marketed as “luxury goods,” with higher selling costs than Vietnamese ones.
Probiotic product distribution in Vietnam is mainly divided between direct and online channels, with direct sales accounting for 86.9% of total sales. Which, with 53.9%, the rate of purchasing probiotic products through pharmacies, and direct consultation with pharmacists is the greatest.
Therefore, to effectively target the Vietnamese probiotic product market, it is critical for SK companies to train and develop the local sales force so that they can give competent consumer healthcare advice in addition to just selling the product.
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Source: Vietnam Insider