New Zealand’s nutritional supplements to enter Vietnamese market
New Zealand’s nutritional supplements to enter Vietnamese market
Efforts are being fast-tracked for the launch of brand new New Zealand premium health supplement line in Vietnam time in 2022.
The nutritional supplements market in Vietnam is expanding due to Vietnamese consumers’ growing concern for healthcare. Based on the report from the British Chamber of Commerce published in August 2021, the total market value of the local health supplements market reaches £423.1 billion ($562.9 billion), with a growth rate of 13 per cent.
In addition, the country’s increasing middle-class population is becoming more health-conscious and prepared to pay premium prices for imported supplements. Among top exporters, New Zealand's health and beauty care goods have a well-established reputation for their safety and of excellent quality.
According to Tredene Dobson, New Zealand Ambassador to Vietnam, the Vietnamese market is quite competitive with a sizeable consumer base. Hence, both Vietnam and New Zealand concentrate on growing areas of trade to bulk up their partnership.
Ambassador Dobson emphasised, “Vietnam and New Zealand are now two of the most integrated economies in the Asia-Pacific region as we are able to leverage the free trade agreements (FTAs) to benefit both countries.”
She also pointed out two key challenges confronting the Vietnam-New Zealand partnership: supply chains and cross-border cooperation. However, with Vietnam’s shift towards a digital economy, plenty of opportunities for trade cooperation and cost reduction would be generated for the two nations.
On November 25, New Zealand-based company Pāmu Food and its local partner Ciels Group signed a deal for the introduction of a new range of New Zealand-made premium nutritional supplements. The ceremony was held privately at Ambassador Dobson’s residence on the same day, attended by members of the New Zealand Embassy and representatives of Ciels Group.
“The agreement today is a very important milestone in the Vietnam-New Zealand trade relation. It provides a foundation for future trade opportunities between the two countries,” Ambassador Dobson highlighted.
“New Zealand is a trusted provider of safe, high-quality, and sustainably-produced food ingredients and Pāmu are a leading example of why New Zealand food businesses are regarded so highly,” Joe Nelson, New Zealand's Consul-General in Vietnam cum Trade Commissioner, said. “More than ever, the Vietnamese people are looking to enhance their lifestyles with products that are healthy, nutritious and safe. We are proud to support Pāmu and Ciels as they look to fulfil the desire of Vietnamese consumers with the launch of their innovative health and wellness products.”
Apart from health benefits, Pāmu displays a commitment towards sustainability in its product lines by implementing environmentally sound farming practices to be a guardian of nature.
Pāmu Food is a state-owned pioneering agricultural company that provides premium milk, wool, and meat for domestic and international markets. Its Deer Milk has garnered multiple honours, including food and innovation awards, and was opted for the menu of the prominent Asia Top 50 Restaurant awards in Macau. In addition, the product has been deployed as an ingredient in a South Korean skincare line.
Apart from health benefits, Pāmu also displays a commitment towards sustainability in its product lines by implementing environmentally sound farming practices to be a guardian of nature.
The supplement range will encompass Pāmu Deer Milk as the primary active ingredient. The product has great flavour along with effectiveness in human wellness and beauty. Furthermore, the nutritious values are enhanced by incorporating additional indigenous natural ingredients such as berries and Mānuka honey. The milk aims to satisfy the demand for organic premium healthcare and beauty care products of high-end consumers in Vietnam.
