Vietnamese probiotics market attracts RoK businesses
VOV.VN - Businesses from the Republic of Korea (RoK) continue to promote probiotics marketing as a means of tapping into growing demand in the Vietnamese market.
During the five-year period concluding in 2021, Vietnamese imports of these kinds of products grew by an annual average of 16%. The country imported those products primarily from the United States at 31%, Singapore at 22%, and Malaysia at 5%, statistics show.
Probiotics is said to be the most typical nutritional supplements in the country. Local consumers prioritise trustworthiness and safety instead of prices, whilst they tend to prefer imports such as those from the US, Europe, and Japan.
In 2021, the nation imported roughly US$41 million worth of probiotics from the RoK, thereby turning the Northeast Asian country into the fourth largest supplier in 2021, rising from eighth position in 2017. Imports from the RoK duly increased by about 23% each year during this period.
Some Korean products distributed in the Vietnamese market include Vitamin PLUS of Ildong Foodis, Duolac Baby Probiotics of Cell Biotech, and Daily Probiotics of Mediogen.
Like other imports, Korean products are classified as high-end items sold at relatively high prices compared to local products.