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Opportunities for nutraceuticals to grow in Southeast Asia’s e-commerce sector


Background

A report by Google, Temasek, and Bain & Company pointed out that within the region, Indonesia and Vietnam have the highest percentage of respondents who said that they wanted to use more of e-commerce.

The report, titled ‘e-Conomy SEA 2022’, looks at how the digital economy sectors are tracking across six SEA countries, namely Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. 

In Indonesia, 32 per cent of the respondents said they intended to use e-commerce more in the next 12 months, while 30 per cent of respondents from Vietnam said so.

Countries

% of respondents who intend to use

e-commerce more in the next 12 months

Indonesia

32

Vietnam

30

Malaysia

24

Thailand

23

Philippines

20

Singapore

20

                                           Source: e-Conomy SEA 2022

On the other hand, the report asserted that sustained growth for the digital economy, including e-commerce, travel, food and transport, and online media, was expected, with Vietnam and the Philippines seen as the forerunners going forward.

The outlook and what’s driving e-commerce growth

The popularity of e-commerce has also led to the rise of e-commerce enablers – companies that provide end-to-end solutions for consumer brands to do e-commerce business.

This could include official store management, digital marketing, supply chain management and fulfilment.

Thailand-based CREA is one of the e-commerce enabler firms active in Thailand, Malaysia, and Singapore.

Speaking to NutraIngredients-Asia, ​Aimone Ripa di Meana, founder and co-CEO of CREA, described Thailand as a big market for e-commerce, and especially so for the international brands.



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