Event Highlights

On August 15, 2025, B&Company was honored to participate in ASEAN Growth Connect: F&B, Cosmetics, and Wellness 2025, an online event connecting industry buyers, sellers and manufacturers across Southeast Asia. Hosted by OSMEP and ISMED, in collaboration with APED from Vietnam, The event explored consumer trends and market opportunities in four key regions – China, the Middle East, Thailand, and Vietnam – as a strategic prelude to a regional B2B matchmaking forum.

B&Company presentation about Vietnam health supplement market

Representing B&Company, Ms. Ha Le, Research Manager, delivered an insightful presentation titled “Vietnam’s Health Supplement Market – Consumer Trend and Market Opportunities.” In this session, she highlighted the latest trends driving Vietnam’s booming health supplement sector and discussed how businesses can capitalize on these opportunities. Here are some key Insights on Vietnam’s Health Supplement Market

– Growing Demand Fueled by Demographics: Vietnam’s population surpassed 100 million in 2024, with about 9% now aged 65 or above. This aging demographic – alongside a still large “golden population” of youth – is spurring greater health consciousness. As the society ages (projected to accelerate by 2050), demand is shifting more toward preventive healthcare and wellness products. Notably, national health expenditures have been on a steady rise from 2017 to 2022, indicating increased focus on healthcare and the willingness of consumers to invest in their well-being. These factors create a fertile ground for health supplements, as more Vietnamese seek to maintain vitality and address age-related health needs.

– Robust Market Growth and Size: Ha Le shared that Vietnam’s health supplement market has been expanding rapidly and is poised for continued growth. The market’s value has trended upward year after year and is expected to reach approximately USD 3.6 billion by 2028 (~7% CAGR from 2023 to 2028). This surge is driven by rising disposable incomes, greater health awareness post-pandemic, and the popularization of nutritional supplements as part of daily life. Foreign brands now account for roughly one-third of the market by value, indicating that local consumers are open to overseas products. Overall, the strong market trajectory underscores abundant opportunities for new entrants and expanding players alike.

– Product Segmentation and Consumer Preferences: Vietnamese consumers are especially interested in supplements for general health improvement and beauty enhancement, which together make up over half of all supplement sales. In practice, this means vitamins, minerals, and functional foods aimed at boosting immunity, longevity, or appearance are top sellers. Other segments – such as supplements for memory support, bone and joint health, heart health, digestion, and women’s health – also have a presence, reflecting diverse health concerns in the population. A distinctive feature of Vietnam’s market is the popularity of herbal-based supplements.

– Consumer Demographics and Behavior: It was noted that usage of health supplements has become remarkably mainstream in Vietnam. By 2022, an estimated 80% of Vietnamese people reported using some form of health supplement – a dramatic increase from just a few years prior. This boom in adoption reflects heightened health awareness, partly influenced by the COVID-19 pandemic which underscored the importance of immunity and preventive care. Women, children, and the elderly have emerged as the main consumer groups for supplements. Women (particularly mothers and working professionals) often purchase supplements for themselves and their families’ wellness; children are a focus for nutritional supplements (like vitamins and height-growth aids) as parents invest in their development; and seniors increasingly rely on supplements to maintain health in later years. The broad appeal across age groups and genders shows that supplements are no longer a niche—it’s a daily household item for many.

– Distribution Channels – Pharmacies and E-commerce: Around 70% of supplement sales occur via brick-and-mortar outlets, chiefly the extensive network of pharmacies. Vietnam has approximately 57,000 independent traditional pharmacies nationwide, plus about 10,000 outlets in growing modern pharmacy chains (such as Long Châu and Pharmacity). Meanwhile, roughly 30% of supplement sales now flow through non-store channels, primarily e-commerce platforms and social networks. Online shopping sites like Shopee, Tiki, and Lazada, as well as social media commerce on Facebook and Zalo, have become important avenues for reaching tech-savvy consumers. This shift has been accelerated by the pandemic and the convenience of online ordering. The rise of e-commerce also enables foreign supplement brands to enter the market more easily by partnering with local online marketplaces. Overall, the robust mix of pharmacy retail and digital channels reflects an ecosystem that is maturing to support the surging demand for health supplements.

– Opportunities for foreign brands: The Vietnamese health supplement market holds significant promise for foreign brands and investors. A key advantage is the strong local demand for high-quality products – Vietnamese consumers often trust well-established foreign brands, especially for vitamins and specialized supplements, perceiving them as more reliable or premium. This trust gives overseas companies an edge, particularly in the mid- to high-end segment of the market where quality and efficacy are valued over price. The rapidly growing middle class and affluent consumer base in Vietnam is actively seeking diverse health and wellness products, creating niches for innovative foreign offerings that may not yet be produced locally. Additionally, ongoing digitalization plays in favor of new entrants: with e-commerce and social media marketing, foreign brands can reach consumers more directly and cost-effectively than ever before. Partnerships with local distributors or online marketplaces can provide foreign companies a ready route to tap into Vietnam’s vast pharmacy network and online customer base.

– Challenges for foreign brands: The regulatory landscape for health supplements, while improving, can be complex – products are categorized as functional foods and require registration and compliance with Vietnam’s food safety standards and new technical regulations. Inconsistencies in regulation and enforcement have been noted, meaning companies must stay diligent and possibly seek local expertise to ensure full compliance. Local competition is another factor: domestic manufacturers, many focusing on herbal/traditional remedies, have strong brand recognition and established trust among consumers. Moreover, Vietnam’s market has seen issues with fake or sub-standard products in the past, which has made consumers cautious; building genuine consumer trust is paramount. Newcomers must invest in brand building and education to reassure customers of product authenticity and safety. Pricing can also be a hurdle – while a segment of the population can afford premium imported supplements, price-sensitive buyers dominate the mass market, so finding the right pricing strategy or product tier is important. Despite these challenges, with careful planning and support, they are surmountable – and the reward is access to one of Asia’s most dynamic wellness markets.

About B&Company

B&Company is the first Japanese company specializing in market research and investment consulting in Vietnam, serving clients since 2008. With offices in Hanoi and Ho Chi Minh City, we provide a wide range of professional services to help businesses succeed in the Vietnamese market. Our services include full-service market research, industry reports, consumer surveys, and market entry consulting, as well as business matching to connect foreign firms with local partners. We have also developed an extensive business database of over 900,000 companies in Vietnam to empower informed decision-making for our clients. Over the past 15+ years, B&Company has built deep expertise and a proven track record across various industries – from F&B and retail to healthcare and beyond.

Please do not hesitate to contact B&Company for further insights or support in navigating Vietnam’s dynamic market. We are always ready to assist you on your journey to success in the region. For inquiries, you can reach us at here

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