Vietnam Collagen Supplement Market to Grow with a CAGR of 5.05% through 2028
Increasing use of collagen supplements in treatment procedure of bone diseases are expected to drive the Vietnam Collagen Supplement market in the forecast period 2024-2028.
According to TechSci Research report, “Vietnam
Collagen Supplement Market –Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Vietnam Collagen Supplement Market
stood at USD 133.25 million in 2022 and is anticipated to grow with a CAGR of 5.05%
in the forecast period, 2024-2028. The surge in demand for clean-label and
non-GMO collagen supplements reflects a growing trend among health-conscious
consumers who prioritize products with natural and wholesome ingredients. In
response to this shift in consumer preferences, manufacturers are innovating by
introducing new collagen supplement offerings that align with these
requirements. These products are crafted using natural, non-GMO, and sugar-free
ingredients, meeting the evolving needs of the discerning consumer base. One
noteworthy development in the collagen supplement industry is the increasing
popularity of marine-derived collagen peptide. This variant is gaining favor
among manufacturers for its potential environmental sustainability benefits and
its functional advantages. Derived from the skin, scales, bones, and fins of
fish that are often underutilized in the fish processing industry, marine
collagen helps reduce waste and promotes sustainable practices. Beyond its
eco-friendly appeal, marine collagen also provides enhanced functional
benefits, further solidifying its appeal among consumers. This burgeoning
segment represents an emerging opportunity in the market, reflecting a broader
industry shift towards sustainable and functional ingredient alternatives.
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Vietnam is undergoing a profound transformation in its
approach to health and well-being. As awareness of preventive healthcare and
the pursuit of vibrant living gain prominence, consumers are increasingly
adopting a health-conscious lifestyle. This cultural shift has led to a surge
in demand for dietary supplements, with collagen supplements emerging as a
frontrunner in this dynamic market. This article delves into the factors
driving this trend and explores the multifaceted impact of collagen supplements
on the well-being of Vietnamese consumers.
Vietnamese consumers are embracing a preventive
healthcare mindset, recognizing the importance of proactively managing their
health to prevent illnesses and enhance overall well-being. This shift in
perspective is a departure from the traditional reactive approach to
healthcare, where treatment is sought after the onset of health issues.
There is a palpable desire among Vietnamese consumers
for a life characterized by vitality, energy, and an active lifestyle. The
aspiration to lead vibrant lives, filled with meaningful experiences and the
ability to pursue one's passions, is a driving force behind the adoption of
health-conscious practices.
Collagen supplements have gained prominence for their
diverse range of benefits. Beyond the realm of skin health, collagen
supplements play a crucial role in supporting joint mobility, muscle recovery,
and overall well-being. This versatility positions collagen supplements as a
holistic solution for individuals seeking to optimize their health at every
stage of life.
With an aging population and a growing emphasis on
maintaining an active lifestyle, collagen supplements have garnered significant
attention for their role in supporting joint health and mobility. Collagen's
contribution to joint cartilage and overall joint function has positioned it as
an essential tool for individuals seeking to remain active and mobile.
Collagen's significance extends to the realm of
fitness and wellness. It aids in muscle recovery, making it particularly
valuable for fitness enthusiasts and individuals seeking to maintain lean
muscle mass. Additionally, collagen supports metabolism, contributing to
overall vitality and energy levels.
Collagen supplements are not confined to a specific
age group or demographic. They offer benefits that resonate across generations,
allowing individuals to thrive in their pursuits, whether it's pursuing a
career, staying active in retirement, or relishing the joys of family life.
The Vietnam Collagen Supplement Market is segmented
into type, distribution channel, regional distribution, and company.
Based on type, the dominance of the powered collagen
supplement segment in the Vietnam collagen supplements market can be attributed
to several compelling factors. Collagen in powdered form has gained significant
popularity among consumers, largely due to its convenience and versatility.
This format allows for easy integration into various foods and beverages,
making it a seamless addition to one's daily routine. Notably, collagen powder
offers a higher dosage of collagen per serving compared to capsules, as it can
be more effectively blended into different mediums. In contrast, capsules have
a constrained size capacity and may not accommodate as much collagen per
serving. This distinction underscores the preference for powdered collagen
supplements among consumers seeking to maximize their collagen intake. It's
evident that this trend towards powdered collagen supplements reflects the
evolving preferences and demands of health-conscious individuals in Vietnam.
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Based on region, Northern Vietnam is expected to grow
during the forecast period. In the dynamic landscape of Vietnam's
burgeoning collagen supplement market, the Northern region stands out as a
pivotal growth engine. This area, encompassing Hanoi and its surrounding
provinces, has witnessed a notable surge in demand for collagen supplements. Northern
Vietnam is home to a rapidly urbanizing population, characterized by a
burgeoning middle-class demographic. With rising disposable incomes and an
increased emphasis on health and wellness, consumers in this region are
increasingly inclined towards adopting proactive measures to support their
well-being. Collagen supplements, known for their versatile health benefits,
have garnered significant attention and uptake in this burgeoning urban
setting.
The Central region is poised to be the fastest-growing
market, offering lucrative growth opportunities for dietary supplement players
during the forecast period. The Central region of Vietnam has emerged as a
dynamic and promising market for dietary supplements, exhibiting exceptional
growth potential in the coming years. This region, encompassing cities such as
Da Nang and Hue, is positioned to outpace other areas in terms of market
expansion and revenue generation. The central region benefits from a well-established
infrastructure and distribution network. This ensures that dietary supplements
are readily available and accessible to consumers, further fueling the market's
growth trajectory. The presence of reputable pharmacies, health food stores,
and e-commerce platforms in the region amplifies the ease of procurement for
consumers.
Major
companies operating in Vietnam Collagen Supplement Market are:
- Shiseido Co. Ltd
- Nestle SA
- Meiji Holdings Company Ltd
- Applied Nutrition Vietnam
- Zint Nutrition
- FUJIFILM VIETNAM Co., Ltd.
- Kinohimitsu Vietnam
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“The Vietnamese collagen supplement market is currently
undergoing a period of remarkable growth, underpinned by a convergence of
factors including heightened consumer awareness and significant demographic
shifts. This surge in demand is not only attributed to a general inclination
towards health-conscious living but also a growing preference for personalized
nutrition solutions. This trend underscores a shift towards tailoring products
to cater to individual needs and preferences, reflecting a deeper understanding
of the unique nutritional requirements of each consumer. Looking ahead, the
horizon appears especially promising for collagen products and personalized
nutrition solutions. These segments are poised to play a pivotal role in
shaping the future of the dietary supplement industry in Vietnam.,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Vietnam Collagen Supplement Market –
Segmented By Type (Powdered, Capsules and Gummies, Drinks and Shots), By
Distribution Channel (Pharmacies and Drug Stores, Online, and Hypermarkets and
Supermarkets), By Country, Competition, Forecast, and Opportunities, 2018-2028F”, has evaluated
the future growth potential of Vietnam Collagen Supplement Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Vietnam Collagen Supplement Market.
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