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Expansion of fitness and health markets in Cambodia and Vietnam
Growing health awareness in Cambodia and Vietnam has increased the demand for health-related products and services.
Sporting goods makers Mizuno and Gunze Sports have established operations in Cambodia and Vietnam, which are experiencing high growth in the fitness sector.
Gunze enters the health-related market in Cambodia
According to UK research firm Euromonitor, the health-related market is expected to grow by 60% from 2015 to over $460 million by 2023.
According to the vice president of Gunze's local subsidiary, which operates two gyms in Cambodia, Gunze opened a gym in an upscale residential area in Phnom Penh, Cambodia, in June 2017. The company opened its second gym in Phnom Penh in June 2018.
Although public exercise facilities can be used for $1 a day, Gunze members are expensive at $80 to $90 a month for Phnom Penh citizens. But Phnom Penh, Cambodia's capital, is home to many health-conscious consumers who, like Japan's Gunze gyms, will pay for health even at premium prices.
Khouth Nearylyvan, a 56-year-old housewife, says, "There are not many Gunze-like facilities such as swimming pools and studios today, so there is not much choice."
According to a survey conducted by the government-affiliated Japan External Trade Organization (JETRO), per capita health-related spending in Cambodia is about $53 per month, higher than Indonesia's about $37.
Vietnamese government boosts fitness and health
In Vietnam, the number of obese people is increasing due to changes in dietary habits.
As such, interest in gyms and health-related services is on the rise.
Currently, Vietnam accounts for an overwhelming 30% of the number of fitness facilities in the Association of ASEAN Southeast Asian Nations.
California Fitness & Yoga is a gym established by an American and developing a chain in Vietnam, with about 100,000 members, mainly in Ho Chi Minh City and Hanoi. "There is a strong interest in sports as a means of maintaining good health," JETRO said.
The Vietnamese government also welcomes this trend.
According to the Vietnamese government, children are not getting enough exercise these days. Currently, we are reviewing the curriculum over the past 40 years, setting up more physical education classes, and trying to balance classroom learning.
Mizuno enters the health-related market in Vietnam
Mizuno will increase brand awareness in Vietnam through a children's sports program called Hexathlon. The program, which includes sprinting, broad jumping and more, will be held in about 15,000 public elementary schools from September. Mizuno created the Hexathlon program for small Vietnamese schools that don't have playgrounds.
Both Mizuno and Gunze Sports will promote health awareness through related products and services as the health market in Cambodia and Vietnam continues to expand.
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