Elevating Demand for Probiotics in the country owing to Easy Availability and High Consumption to Foster Future Growth of Nutraceuticals Market in Vietnam: Ken Research
• Amway is observed to dominate Vietnam dietary supplements market in 2016.
• By distribution channel, independent small grocers dominated the Vietnam nutraceuticals market in year 2017.
• Health benefit segment dominated the functional food and beverages market segment in Vietnam.
• Omega 3 Fatty Acids are expected to drive the dietary supplements market in Vietnam.
Probiotic supplements for longer period of time have been considered as OTC (over the counter) medicine, thus leading to ease of availability among the Vietnamese population without a prescription. In Vietnam, probiotic treatment is gaining importance through well recommendations from doctors and medical professionals for curing acute watery diarrhea in children. Additionally they are also prescribed in the form of powder, ampoules or capsules for people with digestive disorder, indigestion or those who have to consume antibiotics in large amount. DSM’s latti range of probiotics which is dedicated to improve digestion and those which help in managing diarrhea have recorded huge growth in the market.
Ken Research in its latest study, Vietnam Nutraceuticals Market Outlook to 2022 suggested herbal supplements in dietary supplements segment will continue to dominate the market during the forecast period. The consumers believe that herbal or traditional products have fewer or no side effects in comparison with standard products constituting natural ingredients. Ginseng was the most popular herbal dietary supplement used in Vietnam. These supplements are expected to be used maximum in products developed for beauty and personal care.
The report provided information on market size for Vietnam nutraceuticals market, Vietnam nutraceuticals market segmentations on the bases of dietary supplements, functional food & beverages and distribution channels, regulatory landscape, import and export scenario, trends and developments and competitive landscape.
Word of mouth advertising is another major reason for growing popularity of probiotic supplements in Vietnam. Furthermore, it has been witnessed that the Vietnamese population use probiotic supplements in Vietnam for digesting street food. Highest consumption is observed among the tourists visiting the country. Looking at the high demand of probiotics, one of the global probiotic drink companies, Yakult Honsha Co. Ltd. opened its second manufacturing center in the country to complete the demand for the product in Vietnamese capital city of Hanoi. Yakult was available in about 1,200 stores and there were 80 Yakult Ladies in Vietnam as of the end of April 2011, clearly advocating the high demand for probiotics in the market.
Companies Covered:- Amway Corp, Forever Living Products International LLC, Tiens Group Co Ltd, Korea United Pharmaceutical Inc, Maspex Wadowice Grupa, Khanh Hoa Pharmaceutical JSC, Sanofi, International Medical Consulting Co Ltd (IMC), United Laboratories Inc, Bristol-Myers Squibb Co, Traphaco JSC, Herbalife Ltd, Bayer AG, SPM Corp, KT&G Corp, Union Pharma, GlaxoSmithKline Plc, Oriflame Cosmetics SA, OPC Pharmaceutical JSC, Pan Laboratories Pty Ltd, Laboratoire Innotech International, URGO group, National Day Pharmaceutical JSC, Haugiang Pharmaceutical JSC, Pierre Fabre SA, Laboratoires, Dajung Co Ltd, Mega Lifesciences Pty Ltd, Ahn Gook Pharm Co Ltd, Vietnam Dairy Products JSC, Royal FrieslandCampina NV, Abbott Laboratories Inc, Nutifood Nutrition Food JSC, International Dairy Products JSC (IDP), Mondelez International Inc, Huu Nghi Food JSC, Danone Groupe, Fonterra CoN.A.operative Group Ltd, Lotte Group, Associated British Foods Plc, Perfetti Van Melle Group, Meiji Holdings Co Ltd, Yakult Honsha Co Ltd, Hanoi Milk JSC, Murray Goulburn CoN.A.operative Co Ltd, TH Food Chain JSC, Namyang Dairy Products Co Ltd, Kellogg Co, Cereal Partners Worldwide SA , Vietnam Dairy Products JSC, Royal FrieslandCampina NV, Abbott Laboratories Inc, Nestlé SA, Mead Johnson Nutrition Co, International Dairy Products JSC (IDP), Mondelez International Inc, Huu Nghi Food JSC, Danone Groupe, Fonterra CoN.A.operative Group Ltd, Lotte Group, Associated British Foods Plc, Perfetti Van Melle Group, Meiji Holdings Co Ltd, Yakult Honsha Co Ltd, Hanoi Milk JSC, Murray Goulburn CoN.A.operative Co Ltd, Namyang Dairy Products Co Ltd, Mars Inc, Cereal Partners Worldwide SA
For more information, click on the link below:
https://www.kenresearch.com/healthcare/pharmaceuticals/vietnam-nutritional-supplements-market/123936-91.html
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