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Country Report

Bakery in Vietnam

Price: US$1,900

About this Report

Executive Summary

Baked Goods

TRENDS

  • Towards the end of the review period, demand for baked goods continued to be supported by increasingly busy lifestyles as well as the further exposure to Western culture. In large cities in particular, such as Ho Chi Minh City or Hanoi City, the number of young, particularly working class people and students who consume baked goods increased gradually due to their increasingly busy working/study schedules in order to save time. Furthermore, manufacturers, especially domestic players, continued growing across all retail channels partly thanks to the government’s continuous support to promote Vietnamese products. Indeed, they not only concentrated on urban areas but also put more effort into expanding into rural areas. As a result, despite the economic downturn in 2013, baked goods is set to record high current value growth of 11%.

COMPETITIVE LANDSCAPE

  • Kinh Do retained its leading position in baked goods in both 2012 and 2013 with 12% value shares. Despite facing tougher competition from both direct and indirect rivals, especially in bread, the company’s competitive advantages including long-term establishment history, a good reputation, acceptable quality and price as well as an efficient and nationwide distribution network, helped it strengthen its presence in the country. Furthermore, the company benefited greatly from the government’s policy and actions which were employed in order to encourage consumers to use Vietnamese goods. Furthermore, the company also invested more heavily in marketing activities compared to other competitors in the industry. Indeed, the company ran promotional programmes for every special occasion in the country in 2013, such as Lunar New Year, Valentine’s Day, Children’ Day or Mother’s Day. The company focused on discounting and the offer of small free gifts when designing their promotions because the response to these sorts of activities was better than other types of promotions, especially during an economic downturn. As a result, not only did the company rank first in the market it also recorded the strongest current value growth of 15% in 2013.

PROSPECTS

  • Baked goods is projected to enjoy a CAGR of 4% in constant value terms over the forecast period. This predicted CAGR is higher than the historic CAGR mainly thanks to the fact that more Vietnamese consumers, especially those living in large cities, are expected to purchase more expensive brands than economy ones. Higher living standards and higher awareness of health-related issues will be the key drivers of this trend. Indeed, many consumers still perceive that higher price means higher quality and products that are better for their health. As a result, the forecast constant value CAGR will be higher than that achieved over the review period.

Biscuits

TRENDS

  • Over the review period, the trend towards more premium branded biscuits had been popular in the country. For example, for the 2013 Lunar New Year – one of the high seasons for confectionery, including biscuits - Bien Hoa Confectionery’s two premium biscuit brands, Goody and Palomino Hoa Xuan, enjoyed a better performance than the company’s economy and standard brands. This trend was mainly thanks to the increasing trend to demand more sophisticated goods as well as the rising concern for food hygiene. Indeed, through the local public media, negative warnings related to unbranded products or products of unknown origin became more intense. As a result, Vietnamese consumers were more careful when choosing food products including biscuits, which made consumers, who could afford higher-end products, opt for them in order to be more assured about food safety. Furthermore, during the review period, manufacturers, especially local leading ones, such as Kinh Do or Bien Hoa Confectionery, paid more attention to developing their premium rather than economy brands. As a result, premium biscuits were more popular, which was also one of the key reasons behind the anticipated high current value growth of 11% of this category in 2013, despite the poor economy. Other factors that supported this high growth included the increasing demand for biscuits as quick desserts or snacks, especially among office employees, and the growing trend of using biscuits as gift options for special occasions, such as the Lunar New Year.

COMPETITIVE LANDSCAPE

  • Kinh Do remained in the leading position in biscuits in 2013 with an anticipated 37% value share. The company is very popular in both savoury biscuits/crackers and sweet biscuits with 54% and 32% value shares, respectively. A diversified portfolio of products, a good reputation regarding product quality, a long standing presence in the country as well as a more efficient and wider distribution network compared to its rivals characterised the company’s competitive advantages. Furthermore, the company also received certain benefits from the government, such as the positive influence of the government’s campaign, “Vietnamese consumers use Vietnamese products”. Last but not least, the company was also much more active in marketing activities compared to its competitors in the category. The company especially cooperated with leading retailers, such as supermarkets/hypermarkets in the country to run discount programmes, which were considered to be the most effective way of boosting short-term sales in Vietnam. As a result, the company’s dominant position continued to be strengthened and Kinh Do is set to record the strongest value growth of 14% in 2013.

PROSPECTS

  • In biscuits, premium products are expected to develop further, especially in the healthy product range. Thanks to higher living standards, higher disposable income and greater awareness of food safety and hygiene, consumers, especially those living in large cities, are likely to be more willing to pay for better quality products with healthy claims. However, biscuits are likely to continue to be led by standard and economy brands. Furthermore, manufacturers are projected to introduce more new flavours and pack sizes to meet different consumer needs.

Breakfast Cereals

TRENDS

  • Thanks to the increasing influence of and exposure to Western cuisine and culture, Vietnamese consumers became more familiar with breakfast cereals over the review period. Furthermore, busier lifestyles also helped make breakfast cereals a good choice for a quick yet healthy breakfast. Manufacturers also put more effort into promoting this category especially through promotional activities in order to educate consumers about breakfast cereals’ usage and its benefits in order to boost their sales as well as to foster category growth in the country. As a result, in 2013, breakfast cereals is expected to enjoy high volume growth of 9% and value growth of 14%. However, in relation to 2012, the growth rates in 2013 will be lower due to the economic downturn in the country.

COMPETITIVE LANDSCAPE

  • Kellogg retained its dominant position in breakfast cereals, accounting for 71% and 72% value shares in 2012 and 2013, respectively. The company has been present in the country thanks to its wide product variety as well as efficient distribution network. Consumers can easily find products in most modern channels, although they were difficult to find in traditional channels. However, most brands of breakfast cereals in the country are very limited in traditional distribution channels as these products are not traditional but were introduced to the country by Westerners. Furthermore, Kellogg’s strategy to introduce fun and cute elements to its products and packaging in order to appeal to children proved to be successful. Furthermore, in order to boost sales, especially during times of economic downturn, such as the one the country experienced in 2013, which made discounting a more popular strategy for players and consumers, the company ran 20% discounts on its popular Kellogg's Choco Pops and Kellogg’s Frosties brands in Co.opmart supermarkets between 13 May and 23 to June 2013.

PROSPECTS

  • Breakfast cereals is projected to continue to gain popularity in Vietnam mainly thanks to the anticipated greater exposure to Western trends, busier lifestyles as well as higher disposable income especially in large cities of the country. Furthermore, leading companies, such as Kellogg and Nestlé, are expected to put more investment into educating consumers about the convenient usage and health benefits of breakfast cereals in order to stimulate demand. Indeed, more new brands, especially international ones, are also expected to make an entrance. As a result, this category is set to enjoy a high constant value CAGR of 9% over the forecast period. Compared to the review period constant value CAGR, the forecast constant CAGR will be lower due to the anticipated stiffer competition.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Bakery industry in Vietnam with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Bakery industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.

The Bakery in Vietnam market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Bakery in Vietnam?
  • What are the major brands in Vietnam?
  • How will increasingly volatile wheat commodity prices impact retail prices and sales performance?
  • What are the market opportunities for high fibre products?
  • Are consumers in developing markets moving from unpackaged/artisanal to packaged/industrial offerings?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Packaged Food market research database.

Table of Contents

Bakery in Vietnam - Category Analysis

BAKED GOODS IN VIETNAM

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 1 Sales of Baked Goods by Category: Volume 2008-2013
  • Table 2 Sales of Baked Goods by Category: Value 2008-2013
  • Table 3 Sales of Baked Goods by Category: % Volume Growth 2008-2013
  • Table 4 Sales of Baked Goods by Category: % Value Growth 2008-2013
  • Table 5 Sales of Packaged/Industrial Cakes by Single Portion vs Multi-pack: % Value 2008-2013
  • Table 6 NBO Company Shares of Baked Goods: % Value 2009-2013
  • Table 7 LBN Brand Shares of Baked Goods: % Value 2010-2013
  • Table 8 Distribution of Baked Goods by Format: % Value 2008-2013
  • Table 9 Forecast Sales of Baked Goods by Category: Volume 2012-2017
  • Table 10 Forecast Sales of Baked Goods by Category: Value 2012-2017
  • Table 11 Forecast Sales of Baked Goods by Category: % Volume Growth 2012-2017
  • Table 12 Forecast Sales of Baked Goods by Category: % Value Growth 2012-2017

BISCUITS IN VIETNAM

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 13 Sales of Biscuits by Category: Volume 2008-2013
  • Table 14 Sales of Biscuits by Category: Value 2008-2013
  • Table 15 Sales of Biscuits by Category: % Volume Growth 2008-2013
  • Table 16 Sales of Biscuits by Category: % Value Growth 2008-2013
  • Table 17 NBO Company Shares of Biscuits: % Value 2009-2013
  • Table 18 LBN Brand Shares of Biscuits: % Value 2010-2013
  • Table 19 Distribution of Biscuits by Format: % Value 2008-2013
  • Table 20 Forecast Sales of Biscuits by Category: Volume 2012-2017
  • Table 21 Forecast Sales of Biscuits by Category: Value 2012-2017
  • Table 22 Forecast Sales of Biscuits by Category: % Volume Growth 2012-2017
  • Table 23 Forecast Sales of Biscuits by Category: % Value Growth 2012-2017

BREAKFAST CEREALS IN VIETNAM

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 24 Sales of Breakfast Cereals by Category: Volume 2008-2013
  • Table 25 Sales of Breakfast Cereals by Category: Value 2008-2013
  • Table 26 Sales of Breakfast Cereals by Category: % Volume Growth 2008-2013
  • Table 27 Sales of Breakfast Cereals by Category: % Value Growth 2008-2013
  • Table 28 NBO Company Shares of Breakfast Cereals: % Value 2009-2013
  • Table 29 LBN Brand Shares of Breakfast Cereals: % Value 2010-2013
  • Table 30 Distribution of Breakfast Cereals by Format: % Value 2008-2013
  • Table 31 Forecast Sales of Breakfast Cereals by Category: Volume 2012-2017
  • Table 32 Forecast Sales of Breakfast Cereals by Category: Value 2012-2017
  • Table 33 Forecast Sales of Breakfast Cereals by Category: % Volume Growth 2012-2017
  • Table 34 Forecast Sales of Breakfast Cereals by Category: % Value Growth 2012-2017

Bakery in Vietnam - Company Profiles

Bien Hoa Confectionery Corp (Bibica) in Packaged Food (Vietnam)

STRATEGIC DIRECTION

KEY FACTS

  • Summary 1 Bien Hoa Confectionery Corp: Key Facts
  • Summary 2 Bien Hoa Confectionery Corp: Operational Indicators

COMPANY BACKGROUND

PRODUCTION

COMPETITIVE POSITIONING

  • Summary 3 Bien Hoa Confectionery Corp: Competitive Position 2013

Packaged Food in Vietnam - Industry Context

EXECUTIVE SUMMARY

Promotional activities increase in packaged food due to the poor economy

Health awareness continues to influence new product development and marketing campaigns

Tougher competition encourages local manufacturers to make more effort to remain competitive

Private label becomes more popular in packaged food in 2013

A positive outlook for packaged food over the forecast period

KEY TRENDS AND DEVELOPMENTS

The government controls the advertising content of packaged food more closely

Promotional activities become more important in packaged food in 2013

Increasing consumer concern about health, fitness and wellness drives new product development and shapes marketing

Tougher competition encourages local manufacturers to put more effort into remaining competitive

FOODSERVICE – KEY TRENDS AND DEVELOPMENTS

Headlines

Trends – sales to foodservice

Trends –foodservice

Prospects

Category Data

  • Table 35 Foodservice Sales of Packaged Food by Category: Volume 2008-2013
  • Table 36 Foodservice Sales of Packaged Food by Category: % Volume Growth 2008-2013
  • Table 37 Forecast Foodservice Sales of Packaged Food by Category: Volume 2013-2018
  • Table 38 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2013-2018

IMPULSE AND INDULGENCE PRODUCTS – KEY TRENDS AND DEVELOPMENTS

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 39 Sales of Impulse and Indulgence Products by Category: Volume 2008-2013
  • Table 40 Sales of Impulse and Indulgence Products by Category: Value 2008-2013
  • Table 41 Sales of Impulse and Indulgence Products by Category: % Volume Growth 2008-2013
  • Table 42 Sales of Impulse and Indulgence Products by Category: % Value Growth 2008-2013
  • Table 43 NBO Company Shares of Impulse and Indulgence Products: % Value 2009-2013
  • Table 44 LBN Brand Shares of Impulse and Indulgence Products: % Value 2010-2013
  • Table 45 Forecast Sales of Impulse and Indulgence Products by Category: Volume 2013-2018
  • Table 46 Forecast Sales of Impulse and Indulgence Products by Category: Value 2013-2018
  • Table 47 Forecast Sales of Impulse and Indulgence Products by Category: % Volume Growth 2013-2018
  • Table 48 Forecast Sales of Impulse and Indulgence Products by Category: % Value Growth 2013-2018

MEAL SOLUTIONS – KEY TRENDS AND DEVELOPMENTS

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 49 Sales of Meal Solutions by Category: Volume 2008-2013
  • Table 50 Sales of Meal Solutions by Category: Value 2008-2013
  • Table 51 Sales of Meal Solutions by Category: % Volume Growth 2008-2013
  • Table 52 Sales of Meal Solutions by Category: % Value Growth 2008-2013
  • Table 53 NBO Company Shares of Meal Solutions: % Value 2009-2013
  • Table 54 LBN Brand Shares of Meal Solutions: % Value 2010-2013
  • Table 55 Forecast Sales of Meal Solutions by Category: Volume 2013-2018
  • Table 56 Forecast Sales of Meal Solutions by Category: Value 2013-2018
  • Table 57 Forecast Sales of Meal Solutions by Category: % Volume Growth 2013-2018
  • Table 58 Forecast Sales of Meal Solutions by Category: % Value Growth 2013-2018

NUTRITION/STAPLES – KEY TRENDS AND DEVELOPMENTS

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 59 Sales of Nutrition/Staples by Category: Volume 2008-2013
  • Table 60 Sales of Nutrition/Staples by Category: Value 2008-2013
  • Table 61 Sales of Nutrition/Staples by Category: % Volume Growth 2008-2013
  • Table 62 Sales of Nutrition/Staples by Category: % Value Growth 2008-2013
  • Table 63 NBO Company Shares of Nutrition/Staples: % Value 2009-2013
  • Table 64 LBN Brand Shares of Nutrition/Staples: % Value 2010-2013
  • Table 65 Forecast Sales of Nutrition/Staples by Category: Volume 2013-2018
  • Table 66 Forecast Sales of Nutrition/Staples by Category: Value 2013-2018
  • Table 67 Forecast Sales of Nutrition/Staples by Category: % Volume Growth 2013-2018
  • Table 68 Forecast Sales of Nutrition/Staples by Category: % Value Growth 2013-2018

MARKET DATA

  • Table 69 Sales of Packaged Food by Category: Volume 2008-2013
  • Table 70 Sales of Packaged Food by Category: Value 2008-2013
  • Table 71 Sales of Packaged Food by Category: % Volume Growth 2008-2013
  • Table 72 Sales of Packaged Food by Category: % Value Growth 2008-2013
  • Table 73 GBO Company Shares of Packaged Food: % Value 2009-2013
  • Table 74 NBO Company Shares of Packaged Food: % Value 2009-2013
  • Table 75 LBN Brand Shares of Packaged Food: % Value 2010-2013
  • Table 76 Penetration of Private Label by Category: % Value 2008-2013
  • Table 77 Distribution of Packaged Food by Format: % Value 2008-2013
  • Table 78 Distribution of Packaged Food by Format and Category: % Value 2013
  • Table 79 Forecast Sales of Packaged Food by Category: Volume 2013-2018
  • Table 80 Forecast Sales of Packaged Food by Category: Value 2013-2018
  • Table 81 Forecast Sales of Packaged Food by Category: % Volume Growth 2013-2018
  • Table 82 Forecast Sales of Packaged Food by Category: % Value Growth 2013-2018

SOURCES

  • Summary 4 Research Sources

Segmentation

This market research report includes the following:

  • Packaged Food
    • Bakery
      • Baked Goods
        • Bread
          • Bread Substitutes
          • Packaged/Industrial Bread
          • Unpackaged/Artisanal Bread
        • Cakes
          • Packaged/Industrial Cakes
          • Unpackaged/Artisanal Cakes
        • Pastries
          • Packaged/Industrial Pastries
          • Unpackaged/Artisanal Pastries
      • Biscuits
        • Savoury Biscuits and Crackers
        • Sweet Biscuits
          • Chocolate Coated Biscuits
          • Cookies
          • Filled Biscuits
          • Plain Biscuits
          • Sandwich Biscuits
      • Breakfast Cereals
        • Hot Cereals
        • RTE Cereals
          • Children's Breakfast Cereals
          • Family Breakfast Cereals
            • Flakes
            • Muesli
            • Other RTE Cereals

Statistics Included

For each category and subcategory you will receive the following data in Excel format:

From Passport

  • Market Sizes
  • Company Shares
  • Brand Shares
  • Distribution
  • Pricing
  • Analysis by Type
  • Single Portion vs Multi-portion

Market size details:

  • Retail volume
  • Retail volume % growth
  • Retail volume per capita
  • Foodservice volume
  • Foodservice volume % growth
  • Foodservice volume per capita
  • Total volume
  • Total volume % growth
  • Total volume per capita
  • Retail value retail selling price % growth
  • Retail value retail selling price local currency, USD, EUR, GBP, CHF, JPY
  • Retail value retail selling price per capita local currency, USD, EUR, GBP, CHF, JPY
  • Retail value manufacturer selling price % growth
  • Retail value manufacturer selling price local currency, USD, EUR, GBP, CHF, JPY
  • Retail value manufacturer selling price per capita local currency, USD, EUR, GBP, CHF, JPY
  • Retail volume (tonnes)
  • Retail volume (tonnes) % growth
  • Retail volume (tonnes) per capita
  • Foodservice volume (tonnes)
  • Foodservice volume (tonnes) % growth
  • Foodservice volume (tonnes) per capita
  • Total volume (tonnes)
  • Total volume (tonnes) % growth
  • Total volume (tonnes) per capita

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