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Country Report

Vietnam Flag Dairy in Vietnam

Price: US$2,100

About this Report

Executive Summary

Cheese

TRENDS

  • Towards the end of the review period, exposure to Western culture had a positive impact on demand for cheese, as Vietnamese consumers tended to cook more Western dishes for their family. In addition, consumers also purchased more cheese for their children, considering it to be an important source of protein that can support healthy growth.

COMPETITIVE LANDSCAPE

  • Bel Vietnam Ltd dominated cheese in Vietnam, accounting for 78% of value sales in 2015. The company operates a diversified product portfolio that consists of many brands, including La Vache Qui Rit, Belcube and Babybel. Its distribution network covers both traditional and modern channels across the country, which gives it a competitive advantage. Bel Vietnam was also active in carrying out marketing and promotional activities and recorded the strongest increase in value share in 2015.

PROSPECTS

  • Sales of cheese are expected to rise at a value CAGR of 7% at constant 2015 prices over the forecast period. This will represent faster growth than that seen over the review period. Growth will be fuelled by the increasing westernisation taking place in Vietnamese culture. Vietnamese consumers increasingly prepare more Western cuisine in their daily meals, as well as on special occasions. The expected rise in the disposable income of many consumers is also having a positive impact on the demand for cheese. In addition, manufacturers are also set to engage in various marketing activities and expand their distribution network.

Drinking Milk Products

TRENDS

  • During 2014-2015, manufacturers launched new products with the aim of satisfying potential demand and to gain share. In late 2014, TH Food Chains JSC introduced a set of three products named TH True Milk Collagen, TH True Milk Canxi, TH True Milk Phytosterol. The company claims that TH True Milk Collagen is good for skin, TH True Milk Canxi is good for bone health and TH True Milk Phytosterol is good for the heart. In addition, Vietnam Soy Milk Co Ltd (Vinasoy) introduced Fami Kid, a soy milk fortified with calcium, DHA, biotin and vitamins, targeting children. In early 2015, Dutch Lady Vietnam Food & Beverage Co Ltd introduced Dutch Lady 100% Fresh Milk, with the claim that 100% its product is milk. New product developments not only intensified competition but also provided consumers with a wider array of choice.

COMPETITIVE LANDSCAPE

  • Vietnam Dairy Products JSC (Vinamilk) continued to lead drinking milk products in Vietnam, accounting for 48% of value sales in 2015. It is an established company that enjoys a strong reputation among consumers. It invests heavily in research and development with the aim of introducing new products; this strategy helped not only to diversify the company’s product portfolio but also allowed it to meet demand and gain share. Vinamilk also works to expand its distribution network, carrying out various marketing and promotional activities to boost sales. These various activities allowed it to register the strongest company share increase within drinking milk products in 2015.

PROSPECTS

  • Over the forecast period, drinking milk products will continue to perform positively, buoyed by the young population and the expected economic recovery. In addition, manufacturers are likely to push demand by launching new products, expanding their distribution network, and carrying out marketing activities.

Yoghurt and Sour Milk Drinks

TRENDS

  • Over the review period, leading players in yoghurt and sour milk products launched various marketing campaigns in order to attract consumers. They constantly ran advertisements at prime times on popular television channels. They also posted favourable articles in newspapers and magazines. They employed indoor marketing tools such as point-of-sale displays and used discounts to build brand image and boost sales.

COMPETITIVE LANDSCAPE

  • Vietnam Dairy Products JSC (Vinamilk) dominated yoghurt and sour milk products, accounting for 68% of value sales in 2015. Vinamilk is an established company with strong brand equity. It invested significantly in research and development activities with the aim of introducing new products to meet potential demand. The company also focused on building up a strong distribution system. Its nationwide distribution network covered both traditional and modern channels.

PROSPECTS

  • Yoghurt and sour milk products is expected to grow strongly over the forecast period thanks to the anticipated recovery of the economy and improving living standards. In addition, consumers are expected to become more aware of the purported benefits of yoghurt and sour milk consumption, with many opting to consume such products on a more regular basis. With increasingly hectic lifestyles, more consumers are expected to switch from homemade to packaged yoghurt and sour milk products.

Other Dairy

TRENDS

  • At the end of the review period, condensed milk remained the largest category within other dairy in Vietnam. Condensed milk was widely consumed by middle- and low-income consumers; it is often used to make yoghurt or mixed with coffee to make milk coffee. However, condensed milk is a mature category, thus it registered the lowest current value growth rate within other dairy in 2015.

COMPETITIVE LANDSCAPE

  • Vietnam Dairy Products JSC (Vinamilk) retained its leadership in other dairy in 2015, accounting for 88% of total value sales. The company dominated the biggest category within other dairy, namely condensed milk, with a 90% value share. Its products are well known for offering a good price/quality ratio. A nationwide distribution network covering both traditional and modern channels served as the company’s key competitive advantage. It also invested in marketing activities, such as running advertisements on popular television channels.

PROSPECTS

  • Over the forecast period, other dairy is set to register a value CAGR of 1% at constant 2015 prices, slightly slower than the rate seen in the review period. Most categories within other dairy have become more mature and thus are unable to sustain high growth rates.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Dairy 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 Dairy industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.

The Dairy 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 Dairy in Vietnam?
  • What are the major brands in Vietnam?
  • How has the economic downturn impacted sales performance given its staple food status?
  • Given mounting obesity concerns, are consumers moving from full-fat to reduced fat/fat-free offerings?
  • How are volatile farmgate prices for milk impacting retail prices and sales performance?

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

Dairy in Vietnam - Category Analysis

CHEESE

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 1 Sales of Cheese by Category: Volume 2010-2015
  • Table 2 Sales of Cheese by Category: Value 2010-2015
  • Table 3 Sales of Cheese by Category: % Volume Growth 2010-2015
  • Table 4 Sales of Cheese by Category: % Value Growth 2010-2015
  • Table 5 Sales of Spreadable Processed Cheese by Type: % Value Breakdown 2010-2015
  • Table 6 Sales of Unprocessed Cheese by Type: % Value Breakdown 2010-2015
  • Table 7 NBO Company Shares of Cheese: % Value 2011-2015
  • Table 8 LBN Brand Shares of Cheese: % Value 2012-2015
  • Table 9 Distribution of Cheese by Format: % Value 2010-2015
  • Table 10 Forecast Sales of Cheese by Category: Volume 2015-2020
  • Table 11 Forecast Sales of Cheese by Category: Value 2015-2020
  • Table 12 Forecast Sales of Cheese by Category: % Volume Growth 2015-2020
  • Table 13 Forecast Sales of Cheese by Category: % Value Growth 2015-2020

DRINKING MILK PRODUCTS

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 14 Sales of Drinking Milk Products by Category: Volume 2010-2015
  • Table 15 Sales of Drinking Milk Products by Category: Value 2010-2015
  • Table 16 Sales of Drinking Milk Products by Category: % Volume Growth 2010-2015
  • Table 17 Sales of Drinking Milk Products by Category: % Value Growth 2010-2015
  • Table 18 NBO Company Shares of Drinking Milk Products: % Value 2011-2015
  • Table 19 LBN Brand Shares of Drinking Milk Products: % Value 2012-2015
  • Table 20 Distribution of Drinking Milk Products by Format: % Value 2010-2015
  • Table 21 Forecast Sales of Drinking Milk Products Products by Category: Volume 2015-2020
  • Table 22 Forecast Sales of Drinking Milk Products Products by Category: Value 2015-2020
  • Table 23 Forecast Sales of Drinking Milk Products Products by Category: % Volume Growth 2015-2020
  • Table 24 Forecast Sales of Drinking Milk Products Products by Category: % Value Growth 2015-2020

YOGHURT AND SOUR MILK PRODUCTS

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 25 Sales of Yoghurt and Sour Milk Products by Category: Volume 2010-2015
  • Table 26 Sales of Yoghurt and Sour Milk Products by Category: Value 2010-2015
  • Table 27 Sales of Yoghurt and Sour Milk Products by Category: % Volume Growth 2010-2015
  • Table 28 Sales of Yoghurt and Sour Milk Products by Category: % Value Growth 2010-2015
  • Table 29 Sales of Flavoured Yoghurt by Flavour: Rankings 2010-2015
  • Table 30 Sales of Fruited Yoghurt by Flavour: Rankings 2010-2015
  • Table 31 NBO Company Shares of Yoghurt and Sour Milk Products: % Value 2011-2015
  • Table 32 LBN Brand Shares of Yoghurt and Sour Milk Products: % Value 2012-2015
  • Table 33 Distribution of Yoghurt and Sour Milk Products by Format: % Value 2010-2015
  • Table 34 Forecast Sales of Yoghurt and Sour Milk Products by Category: Volume 2015-2020
  • Table 35 Forecast Sales of Yoghurt and Sour Milk Products by Category: Value 2015-2020
  • Table 36 Forecast Sales of Yoghurt and Sour Milk Products by Category: % Volume Growth 2015-2020
  • Table 37 Forecast Sales of Yoghurt and Sour Milk Products by Category: % Value Growth 2015-2020

OTHER DAIRY

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 38 Sales of Other Dairy by Category: Volume 2010-2015
  • Table 39 Sales of Other Dairy by Category: Value 2010-2015
  • Table 40 Sales of Other Dairy by Category: % Volume Growth 2010-2015
  • Table 41 Sales of Other Dairy by Category: % Value Growth 2010-2015
  • Table 42 Sales of Cream by Type: % Value Breakdown 2010-2015
  • Table 43 Distribution of Other Dairy by Format: % Value 2010-2015
  • Table 44 Forecast Sales of Other Dairy by Category: Volume 2015-2020
  • Table 45 Forecast Sales of Other Dairy by Category: Value 2015-2020
  • Table 46 Forecast Sales of Other Dairy by Category: % Volume Growth 2015-2020
  • Table 47 Forecast Sales of Other Dairy by Category: % Value Growth 2015-2020

Dairy in Vietnam - Company Profiles

FrieslandCampina Vietnam Co Ltd in Packaged Food (Vietnam)

Strategic Direction

Key Facts

  • Summary 1 FrieslandCampina Vietnam Co Ltd: Key Facts

Competitive Positioning

  • Summary 2 FrieslandCampina Vietnam Co Ltd: Competitive Position 2015

Nutifood Nutrition Food JSC in Packaged Food (Vietnam)

Strategic Direction

Key Facts

  • Summary 3 Nutifood Nutrition Food JSC: Key Facts

Competitive Positioning

  • Summary 4 Nutifood Nutrition Food JSC: Competitive Position 2015

Vietnam Dairy Products JSC (Vinamilk) in Packaged Food (Vietnam)

Strategic Direction

Key Facts

  • Summary 5 Vietnam Dairy Products JSC (Vinamilk): Key Facts
  • Summary 6 Vietnam Dairy Products JSC (Vinamilk): Operational Indicators

Competitive Positioning

  • Summary 7 Vietnam Dairy Products JSC (Vinamilk): Competitive Position 2015

Packaged Food in Vietnam - Industry Context

Executive Summary

Slower demand due to inflation makes competing tougher

Increased sophistication and busy lifestyles boost convenience products

International players continue to characterise packaged food in Vietnam

Modern grocery retailers perform well in 2015

A positive outlook for packaged food

Key Trends and Developments

Online shopping gains viability as a channel for packaged food

ASEAN is set to lower import tariffs over 2015-2018

Private label continues to grow despite the entrance of international players

Increasing health-awareness shapes product development and marketing direction

Foodservice: Key Trends and Developments

Headlines

Trends: Sales to foodservice

Trends: Consumer foodservice

Prospects

Category Data

  • Table 48 Foodservice Sales of Packaged Food by Category: Volume 2010-2015
  • Table 49 Foodservice Sales of Packaged Food by Category: % Volume Growth 2010-2015
  • Table 50 Forecast Foodservice Sales of Packaged Food by Category: Volume 2015-2020
  • Table 51 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2015-2020

Market Data

  • Table 52 Sales of Packaged Food by Category: Volume 2010-2015
  • Table 53 Sales of Packaged Food by Category: Value 2010-2015
  • Table 54 Sales of Packaged Food by Category: % Volume Growth 2010-2015
  • Table 55 Sales of Packaged Food by Category: % Value Growth 2010-2015
  • Table 56 GBO Company Shares of Packaged Food: % Value 2011-2015
  • Table 57 NBO Company Shares of Packaged Food: % Value 2011-2015
  • Table 58 LBN Brand Shares of Packaged Food: % Value 2012-2015
  • Table 59 Penetration of Private Label by Category: % Value 2010-2015
  • Table 60 Distribution of Packaged Food by Format: % Value 2010-2015
  • Table 61 Distribution of Packaged Food by Format and Category: % Value 2015
  • Table 62 Forecast Sales of Packaged Food by Category: Volume 2015-2020
  • Table 63 Forecast Sales of Packaged Food by Category: Value 2015-2020
  • Table 64 Forecast Sales of Packaged Food by Category: % Volume Growth 2015-2020
  • Table 65 Forecast Sales of Packaged Food by Category: % Value Growth 2015-2020

Sources

  • Summary 8 Research Sources

Segmentation

This market research report includes the following:

  • Packaged Food
    • Dairy
      • Cheese
        • Processed Cheese
          • Spreadable Processed Cheese
          • Other Processed Cheese
        • Unprocessed Cheese
          • Hard Cheese
            • Packaged Hard Cheese
            • Unpackaged Hard Cheese
          • Soft Cheese
      • Drinking Milk Products
        • Flavoured Milk Drinks
          • Dairy Only Flavoured Milk Drinks
          • Flavoured Milk Drinks with Fruit Juice
        • Milk
          • Cow's Milk
            • Fresh Milk
              • Fat-free Fresh Milk
              • Semi Skimmed Fresh Milk
              • Full Fat Fresh Milk
            • Shelf Stable Milk
              • Fat-free Shelf Stable Milk
              • Semi Skimmed Shelf Stable Milk
              • Full Fat Shelf Stable Milk
          • Goat Milk
        • Powder Milk
        • Non-Dairy Milk Alternatives
          • Soy Drinks
          • Soy Milk
          • Other Non-Dairy Milk Alternatives
      • Yoghurt and Sour Milk Products
        • Sour Milk Products
        • Yoghurt
          • Drinking Yoghurt
          • Flavoured Yoghurt
          • Fruited Yoghurt
          • Plain Yoghurt
      • Other Dairy
        • Chilled and Shelf Stable Desserts
          • Dairy-Based Desserts
            • Chilled Dairy-based Desserts
            • Shelf Stable Dairy-based Desserts
          • Soy-based Desserts
            • Chilled Soy-based Desserts
            • Shelf Stable Soy-based Desserts
        • Chilled Snacks
        • Coffee Whiteners
        • Condensed Milk
          • Flavoured Condensed Milk
          • Plain Condensed Milk
        • Cream
        • Fromage Frais and Quark
          • Flavoured Fromage Frais and Quark
          • Plain Fromage Frais and Quark
          • Savoury Fromage Frais and Quark

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
  • Analysis by Flavour
  • Analysis by Type
  • Pricing
  • Products by Ingredient

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 rtd volume
  • Retail rtd volume % growth
  • Retail rtd volume per capita
  • Foodservice rtd volume
  • Foodservice rtd volume % growth
  • Foodservice rtd volume per capita
  • Total rtd volume
  • Total rtd volume % growth
  • Total rtd volume per capita
  • 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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