Beauty supplements products are becoming an essential part of life. The beauty supplements market in Vietnam has also seen many notable changes in recent years. In the article below, Beautycare expo will help you get the most accurate information about this market.
Beauty supplements: A huge step forward in the biotechnology industry
The research and production of functional foods has been mentioned for a long time in Vietnam. With great growth potential, the “functional food market in Vietnam” has attracted the attention of many researchers as well as investors.
In recent years, the whole world is starting to turn towards natural compounds. The use of functional foods to care for life. As well as health has become a new direction. Because of these active ingredients, these compounds allow to minimize the side effects to the user’s body. In particular, if used in the right dosage, it has a very good effect in health care as well as supporting the treatment of diseases.
Functional food market in Vietnam
In Vietnam, the technology industry has not really developed as strongly as many people expected. However, the study of functional foods. Again, focus on remarkable achievements. Domestic researchers have produced many remarkable results in this field.
Reality of functional food market in Vietnam
The Vietnam Association of Functional Foods has conducted many surveys. Let’s see, what do those surveys tell us about the dietary supplement market in Vietnam at the moment.
Huge numbers make a strong impression
Functional foods appeared and began to be used in Vietnam in the 2000s. At that time, most of the products on the market were imported from other countries.
Up to now, more than 70% of functional foods consumed in our market are domestically produced. The remaining 20% are imported from famous markets such as the US, Germany, Canada, Korea, Japan…
In particular, the Ministry of Health said that the domestic production of dietary supplements is having many positive changes. A large number of diversified products with different functions have been exported to the international market.
To see more clearly this miraculous growth. Can listen to the opinion of the current Chairman of the Vietnam Foodstuffs Association Tran Dang after surveying the functional food market:
“In 2000, Vietnam had only 13 enterprises registered and qualified to produce functional foods. The number of products circulating on the market is only 63 products. By 2017, there were nearly 4,190 companies registered to produce and trade dietary supplements. The number of products in circulation is also a huge number, amounting to more than 10,930 products.”
It is noteworthy that according to the provisions of Decree 15/2018/ND-CP of the Government. After July 1, 2019, all functional food production facilities must meet GMP standards. However, currently (2020) there are around 200 factories that have met GMP standards.
There are more than 2 million people using functional foods
The same statistics show that in the 2000s, our country’s functional food distribution market was quite limited. Most of the product users are concentrated in Hanoi and Saigon. The estimated number of users of the product is only about 500,000 people. This is indeed a modest number.
There are more than 2 million people using functional foods
By 2019, the number of people using dietary supplements has increased rapidly. Total users are more than 20 million people, accounting for more than 21% of the population of Vietnam. In particular, these people are distributed in all 63 provinces and cities across the country.
It can be seen that the “functional food market in Vietnam” is expanding rapidly with surprising growth. It is a fertile land that needs to be exploited thoroughly and effectively. Thereby, bringing benefits to users as well as contributing to the economic growth of the country.
What are consumers’ concerns when using functional foods?
Obviously, the number of people using these products has increased very quickly in recent years. However, not everyone is completely secure with TPCN. Many people are not shy about their negative health effects.
Concerns of consumers when using functional foods
That worry comes from the fact that there are many untested supplements on the market. They are widely sold with faded labels, without any seals or certifications of the authorities.
With fully tested products, customers need not worry. It can ensure the safety of the body as well as provide the necessary care.
The functional food market in Vietnam is a fertile land
Increasingly, Vietnamese people’s interest in health is higher. Therefore, it is not difficult to understand when the amount of food supplements sold has increased rapidly.
Experts, who research the functional food market, say that the demand for functional foods will continue to increase in the coming time.
