In 2023, the import of vitamins in dosage forms to Vietnam stood at 128.09 million USD. The year-on-year variation for 2023 was 3.02%, signaling a slight uptick from the previous year's total. In the two years leading up to 2023, the market experienced fluctuations: a decline of 6.2% in 2022, followed by modest growth. The Compound Annual Growth Rate (CAGR) over the past five years was 3.36%, indicating steady but modest growth in the market.
Looking at future trends, the CAGR for the upcoming years up to 2028 is forecasted at 1.98%, suggesting slower growth compared to previous years. The total growth over these five forecasted years is projected at 10.29%.
Trends to watch for in the future:
- Potential impacts of policy changes and trade regulations on import dynamics.
- Shifts in consumer preferences and increased demand for health supplements.
- Advancements in technology and product development in the vitamin sector.
- Market competition and the entrance of new international players.
