Health care product sell well amid pandemic
Seeing food and health care products have become a priority of consumers after the COVID-19 pandemic, many businesses are racing to grab market share.
During the peak of the pandemic in Viet Nam, the food and health care sector still grew with high revenue while many industries had almost no revenue.
Lu Nguyen Xuan Vu, general director of Xuan Nguyen Group, said the group has enjoyed very fast revenue growth rate, up to 300-400 per cent compared to before the pandemic.
The group has 11 nutritional product lines, which sold well as consumers care more about health, Vu told Cong Thuong (Industry & Trade) newspaper.
In addition, consumers are interested in frozen foods and immunity-boosting products like fruits and vegetables.
Vina T&T Import Export Trading Service Co., Ltd noted its revenue sales volume at agricultural product distribution stores always stayed at about VND500 million (US$21,500) per month.
Notably, the company's sales increased by 30 per cent after the COVID-19 pandemic. The business will also open two more stores to meet the needs of consumers in HCM City in the near future.
The Food and Foodstuff Association of HCM City has said that the industry growth rate would increase by about 10 per cent this year.
Demand for food and health care products is good and it is the gold time for enterprises to accelerate production from now until the end of the year.
Vu said his company was speeding up the procurement of raw materials, training sales agents and preparing business scenarios in “new normal” conditions.
Similarly, many other food companies such as Meizan, Ba Huan and Vissan have boosted their capacity to meet the needs of the market.
The food producers said although the pandemic is under control in Viet Nam, the situation was still complex in the world, therefore, businesses were always ready to supply enough food when the market needed it.
Many businesses have also paid more attention to the investment in modern machinery and equipment to create quality and lower-cost products to improve competitiveness and meet domestic and export demand.
The Department of Industry and Trade of HCM City said the food processing industry accounts for 27 per cent of the city's four key priority industries.
Therefore, the increase in production and revenue after the pandemic also helped limit the decline of the city's industry, it said.
The city also said it had implemented policies to support businesses in this industry to invest in developing production, connecting banks and businesses, and organising trade promotion programmes for the food industry at home and abroad.