Key Consumer Trends and Growth in the Health Supplements Category in Vietnam

The health supplements, dietary foods, and functional foods market in Vietnam has been experiencing significant growth, driven by increasing health awareness, rising disposable incomes, and a growing middle-class population.

Vietnamese consumers are increasingly prioritizing health and wellness, leading to a surge in demand for dietary supplements, particularly those focusing on immunity, bone and joint health, and general wellness. Herbal supplements, which are perceived as safer due to their natural origins, dominate the market, accounting for more than 70% of sales. Popular products include ginseng and other traditional remedies, which have seen heightened demand in the wake of the COVID-19 pandemic.

Vietnam’s aging population is also an important factor when it comes to the growth of the health supplements market, with people aged over 60 years jumping from 11.9% of the population in 2019 and 13.9% last year, to an estimated 25% in 2050.? Therefore, supplements targeted towards age-related issues, such as bone and cognitive health, are seeing an increase in demand.

Moreover, Vietnam is unlike countries such as China, where novel formats of health supplements are trending. Instead, Vietnamese consumers still prefer more traditional formats such as capsules and tablets, with other formats such as oral sprays, liquid, and gummies not yet taking off.

According to the Vietnam Association of Function Foods, the dietary supplements market is currently split at about 60% local products and 40% imported products.

E-commerce has emerged as a critical sales channel for nutritional supplements in Vietnam. The online market for food supplements alone is expected to reach USD 110 million by 2024, making up a significant portion of the overall nutrition e-commerce market. The shift towards online shopping is driven by convenience, a wider product range, and the increased trust in digital transactions. This trend is expected to continue growing, with online sales projected to account for nearly 20% of the market by 2028.

The health and wellness industry in Vietnam is poised for continued growth. With the dietary supplements market balancing between local and imported products, the preferences of Vietnamese consumers are shaping market trends. These distinct consumer behaviours underscore the importance of cultural considerations in product development and marketing strategies for any brand wanting to enter the Vietnamese health supplements market.

For more information on how your health supplements brand can enter and succeed in the Vietnam market, contact RedFern Digital today!