Health and Wellness in Vietnam

Health and Wellness in Vietnam
Euromonitor International
February 2021

List OF CONTENTS AND TABLES

EXECUTIVE SUMMARY
COVID-19 impact on health and wellness
COVID-19 country impact
Company response
Retailing shift
Foodservice vs retail split
What next for health and wellness?
MARKET DATA
Table 1 Sales of Health and Wellness by Type: Value 2015-2020
Table 2 Sales of Health and Wellness by Type: % Value Growth 2015-2020
Table 3 Sales of Health and Wellness by Category: Value 2015-2020
Table 4 Sales of Health and Wellness by Category: % Value Growth 2015-2020
Table 5 Sales of Health and Wellness by Prime Positioning: Value 2015-2020
Table 6 Sales of Health and Wellness by Prime Positioning: % Value Growth 2015-2020
Table 7 NBO Company Shares of Health and Wellness: % Value 2016-2020
Table 8 LBN Brand Shares of Health and Wellness: % Value 2017-2020
Table 9 Distribution of Health and Wellness by Format: % Value 2015-2020
Table 10 Distribution of Health and Wellness by Format and Category: % Value 2020
Table 11 Forecast Sales of Health and Wellness by Type: Value 2020-2025
Table 12 Forecast Sales of Health and Wellness by Type: % Value Growth 2020-2025
Table 13 Forecast Sales of Health and Wellness by Category: Value 2020-2025
Table 14 Forecast Sales of Health and Wellness by Category: % Value Growth 2020-2025
Table 15 Forecast Sales of Health and Wellness by Prime Positioning: Value 2020-2025
Table 16 Forecast Sales of Health and Wellness by Prime Positioning: % Value Growth 2020-2025
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
DISCLAIMER
SOURCES
Summary 1 Research Sources
KEY DATA FINDINGS
2020 IMPACT
Preference for fresh or other health and wellness categories hampers BFY beverages, with sales slowing during the pandemic
BFY reduced sugar soft drinks performs well during the pandemic as consumers seek to stay healthy and reduce their sugar intake
Both leading companies boost their share in 2020 thanks to their widespread distribution networks
RECOVERY AND OPPORTUNITIES
Immediate rebound for BFY beverages in 2021 as the pandemic comes under control
Category benefits from the health and wellness trend highlighted further by shockwaves created by the pandemic
New launches of reduced sugar variants likely from domestic players
CATEGORY DATA
Table 17 Sales of BFY Beverages by Category: Value 2015-2020
Table 18 Sales of BFY Beverages by Category: % Value Growth 2015-2020
Table 19 NBO Company Shares of BFY Beverages: % Value 2016-2020
Table 20 LBN Brand Shares of BFY Beverages: % Value 2017-2020
Table 21 Distribution of BFY Beverages by Format: % Value 2015-2020
Table 22 Forecast Sales of BFY Beverages by Category: Value 2020-2025
Table 23 Forecast Sales of BFY Beverages by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Growth spikes across the category as COVID-19 necessitates consumer switches from the on- to the off-trade
Key players gain share and invest in marketing and advertising
FF plant-based and malt-based hot drinks achieves growth due to societal changes created by the pandemic and subsequent switches from RTD malt-based drinks
RECOVERY AND OPPORTUNITIES
Diminished disposable incomes caused by COVID-19 could dampen sales in the mid term and stimulate growth in advertising and marketing activities
Industry players active in new product development in response to increasingly sophisticated consumer demand
Development of niche categories likely over the forecast period
CATEGORY DATA
Table 24 Sales of Fortified/Functional Beverages by Category: Value 2015-2020
Table 25 Sales of Fortified/Functional Beverages by Category: % Value Growth 2015-2020
Table 26 NBO Company Shares of Fortified/Functional Beverages: % Value 2016-2020
Table 27 LBN Brand Shares of Fortified/Functional Beverages: % Value 2017-2020
Table 28 Distribution of Fortified/Functional Beverages by Format: % Value 2015-2020
Table 29 Forecast Sales of Fortified/Functional Beverages by Category: Value 2020-2025
Table 30 Forecast Sales of Fortified/Functional Beverages by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Strong growth across naturally healthy beverages as consumers endeavour to maintain good health during the pandemic
Constraints on some naturally healthy categories due to the prevalence of fresh alternatives
Growth in health and wellness trend stimulates sales of NH 100% juice
RECOVERY AND OPPORTUNITIES
Growing health consciousness set to boost the category, though sales likely to be constrained by consumer preferences
More players set to enter the fragmented competitive landscape over the forecast period
New launches by RTD players in response to rising health and wellness trend
CATEGORY DATA
Table 31 Sales of NH Beverages by Category: Value 2015-2020
Table 32 Sales of NH Beverages by Category: % Value Growth 2015-2020
Table 33 NBO Company Shares of NH Beverages: % Value 2016-2020
Table 34 LBN Brand Shares of NH Beverages: % Value 2017-2020
Table 35 Distribution of NH Beverages by Format: % Value 2015-2020
Table 36 Forecast Sales of NH Beverages by Category: Value 2020-2025
Table 37 Forecast Sales of NH Beverages by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Demand for free from packaged food products relatively unaffected by the pandemic
Pandemic creates high unemployment rates stimulating lower disposable incomes
Free from dairy continues to account for the highest share of value sales
RECOVERY AND OPPORTUNITIES
Stronger marketing efforts needed once players recover from the pandemic to broaden consumer base beyond that of consumers with allergies and intolerances
Growing consumer knowledge and wider product range and distribution benefit category sales
Consumers opt for modern grocery retailers due to wider product offerings and multichannel approach
CATEGORY DATA
Table 38 Sales of Free From by Category: Value 2015-2020
Table 39 Sales of Free From by Category: % Value Growth 2015-2020
Table 40 NBO Company Shares of Free From: % Value 2016-2020
Table 41 LBN Brand Shares of Free From: % Value 2017-2020
Table 42 Distribution of Free From by Format: % Value 2015-2020
Table 43 Forecast Sales of Free From by Category: Value 2020-2025
Table 44 Forecast Sales of Free From by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Heavy focus on strengthening the immune system benefits category sales during 2020
New products launched and marketing activities heightened during the pandemic
FF packaged food products maintain wide distribution during the pandemic
RECOVERY AND OPPORTUNITIES
FF products available across a diverse range of packaged food categories
Clear marketing of benefits of FF yoghurt creates strong future for the category post pandemic
Consumers embrace products fortified with Bird's Nest
CATEGORY DATA
Table 45 Sales of Fortified/Functional Packaged Food by Category: Value 2015-2020
Table 46 Sales of Fortified/Functional Packaged Food by Category: % Value Growth 2015-2020
Table 47 Key Functional Ingredients in Fortified/Functional Breakfast Cereals: % Value 2015-2020
Table 48 Key Functional Ingredients in Fortified/Functional Bread: % Value 2015-2020
Table 49 Key Functional Ingredients in Fortified/Functional Sugar Confectionery: % Value 2015-2020
Table 50 Key Functional Ingredients in Fortified/Functional Milk: % Value 2015-2020
Table 51 Sales of Fortified/Functional Yoghurt by Standard Fat vs Reduced Fat: % Value 2015-2020
Table 52 NBO Company Shares of Fortified/Functional Packaged Food: % Value 2016-2020
Table 53 LBN Brand Shares of Fortified/Functional Packaged Food: % Value 2017-2020
Table 54 LBN Brand Shares of Fortified/Functional Bread: % Value 2017-2020
Table 55 Distribution of Fortified/Functional Packaged Food by Format: % Value 2015-2020
Table 56 Forecast Sales of Fortified/Functional Packaged Food by Category: Value 2020-2025
Table 57 Forecast Sales of Fortified/Functional Packaged Food by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Consumers embrace naturally healthy foods in a bid to stay healthy during the pandemic
Rising unemployment caused by the pandemic lowers consumer desire to spend on premium products such as NH packaged food but benefits domestic players
Growing investment in products with natural ingredients rather than NH packaged food
RECOVERY AND OPPORTUNITIES
Pandemic stimulates sales of honey as consumers move more towards branded products and away from unbranded
NH high fibre breakfast cereals remains niche but benefits from home seclusion
Distribution of NH food remains intact during the pandemic with wide availability set to continue over the forecast period
CATEGORY DATA
Table 58 Sales of NH Packaged Food by Category: Value 2015-2020
Table 59 Sales of NH Packaged Food by Category: % Value Growth 2015-2020
Table 60 NBO Company Shares of NH Packaged Food: % Value 2016-2020
Table 61 LBN Brand Shares of NH Packaged Food: % Value 2017-2020
Table 62 Distribution of NH Packaged Food by Format: % Value 2015-2020
Table 63 Forecast Sales of NH Packaged Food by Category: Value 2020-2025
Table 64 Forecast Sales of NH Packaged Food by Category: % Value Growth 2020-2025
RECOVERY AND OPPORTUNITIES
Decimation in tourist numbers, little interest from locals and limited products and distribution hinder category development in Vietnam
KEY DATA FINDINGS
2020 IMPACT
COVID-19 stimulates growing consumer health concerns and sales of BFY packaged food
COVID-19 hones consumer focus on reducing sugar due to rising diabetes rate and limited exercise opportunities during lockdown
COVID-19 has little impact on the distribution of BFY packaged food
RECOVERY AND OPPORTUNITIES
BFY packaged food on the rise due to widening product choice and greater focus on health since COVID-19
Further new product development expected in line with growing health consciousness
Growing appreciation of health as well as Westernisation trend set to promote BFY packaged food in the aftermath of the pandemic
CATEGORY DATA
Table 65 Sales of BFY Packaged Food by Category: Value 2015-2020
Table 66 Sales of BFY Packaged Food by Category: % Value Growth 2015-2020
Table 67 Distribution of BFY Packaged Food by Format: % Value 2015-2020
Table 68 Forecast Sales of BFY Packaged Food by Category: Value 2020-2025
Table 69 Forecast Sales of BFY Packaged Food by Category: % Value Growth 2020-2025
KEY DATA FINDINGS
2020 IMPACT
Declining disposable incomes since the pandemic dampen consumer interest in organic packaged food
Limited number of industry players in organic packaged food
While "organic" labelling is considered a competitive advantage, high unit prices limit sales
RECOVERY AND OPPORTUNITIES
Organic dairy has potential for solid growth
Future category growth dependent on extending distribution and widening product range
Urban-focused distribution due to higher concentration of wealthier demographics
CATEGORY DATA
Table 70 Sales of Organic Packaged Food by Category: Value 2015-2020
Table 71 Sales of Organic Packaged Food by Category: % Value Growth 2018-2020
Table 72 Distribution of Organic Packaged Food by Format: % Value 2015-2020
Table 73 Forecast Sales of Organic Packaged Food by Category: Value 2020-2025
Table 74 Forecast Sales of Organic Packaged Food by Category: % Value Growth 2020-2025