Market Trends of Vietnam Collagen Supplements Industry
Surge in Consumer Spending on Personal Healthcare
- Vietnam is currently undergoing economic and demographic transformations that could provide great potential for its dietary supplements industry. The high expenditure on healthcare indicates the rising health concerns and the extended focus on healthcare by the Vietnamese population. This will have an assured impact on the sales of collagen supplements and drives the market growth.
- Collagen makes up 10% of body muscle tissues which, in turn, collagen peptides consider helpful for people with sarcopenia (a loss of muscle mass). In addition, Several studies suggest that consuming collagen peptides may help treat and prevent osteoporosis. Vietnam has witnessed a population risk of osteoporosis.
- For instance, a study about the burden of osteoporosis in Vietnam published by the National Library of Medicine in 2021 stated that the prevalence of osteoporosis was observed as 27% in women and 13% in men. Thus, the high risk of osteoporosis in the country is anticipated to propel the demand for collagen supplements during the forecast year.
- On the other hand, Geriatrics comprise a share of 9.55% (55-64 years) and 6.91% (65+ years) of the population of Vietnam, with females being more in number. Thus, the increasing aged population in the country is also expected to drive market growth as collagen supplements help increase cartilage density and make joints more flexible.
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Powdered Supplements Held the Major Share
- Collagen in the form of powdered supplements has witnessed a growing share of acceptance among consumers owing to its ease of use and convenience. In particular, powder form is the easiest way of mixing collagen supplements in food and beverages, accelerating the uptake of these products.
- Collagen powder has been a more popular form of collagen supplementation than collagen capsules. This is because collagen powder allows for higher dosages of collagen per serving, as it can be easily mixed into beverages or food. Collagen capsules, on the other hand, have a limited size and, therefore, may not contain as much collagen per serving.
- The demand for collagen supplements has been growing steadily in recent years. Many multinational companies have entered the market to offer collagen products in various forms, including powders, capsules, and even gummies. While collagen powder may be more popular, some consumers may still prefer the convenience of capsules, especially for on-the-go use.
- For instance, Vital Proteins, a company owned by Nestle, has made strides in the Vietnamese market through collagen products in powdered form. Moreover, the availability of various flavored collagen powders in the market is also driving market growth as consumers demand flavored functional beverages. Furthermore, the easy accessibility to procure collagen powder supplements in online retail stores and drug stores is strengthening the market growth.
