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Country Report

Vietnam Flag Dairy in Vietnam

| Pages: 84

Price: US$1,900

About this Report

Executive Summary

Cheese

TRENDS

  • Over the review period, cheese became more popular in the country, mainly thanks to the increasing influence of the Western cuisine, especially amongst the young in big cities. Indeed, towards the end of 2013, the number of Vietnamese people who are aware of cheese’s usage and benefits increased more strongly. However, compared to other categories in dairy, cheese’s sales are still rather low due to the following reasons. Firstly, the average unit price of cheese is perceived as quite high in relation to the average income levels of most Vietnamese households. Furthermore, cheese is not commonly used for most Vietnamese dishes. In general, though cheese remains as a small category within dairy, its potential growth is strong, proved by the current value growth of 15% expected in 2013 despite the economic downturn.

COMPETITIVE LANDSCAPE

  • Bel Vietnam Ltd continued to lead cheese in the Vietnamese market in both 2012 and 2013, standing at 70% value share. Its main brands, La Vache Qui Rit, Party Cube and Babybel, are very popular in the country. In particular, La Vache Qui Rit was one of the very first cheese brands that were available in Vietnam, which gave it its first-mover advantage and very strong brand awareness. Furthermore, compared to other rivals, the company invests more money in promotional activities, including television advertising and discount campaigns. More importantly, the company possesses a very efficient nationwide distribution network. Consumers can easily find these brands in most distribution channels, both traditional and modern ones.

PROSPECTS

  • Cheese is projected to record a CAGR of 8% in constant value terms over the forecast period. This constant forecast CAGR is nearly two percentage points higher than the review period’s constant value CAGR. This high growth is expected due to the fact that cheese has been gaining more acceptance along with the increasing exposure to the Western lifestyle and cuisine. The target consumers of cheese are the young, especially those living in urban areas. This high growth is also supported by the continuous expansion of Western foodservice outlets in the country, both fast food chains and Western cuisine restaurants.

Drinking Milk Products

TRENDS

  • Drinking milk products in the country is expected to continue to record an impressive current value growth in 2013 despite the economic downturn. One of the main reasons for this healthy growth is the increasing demand, especially from consumers residing in urban areas. These consumers are perceived as having higher incomes and being well educated about milk’s benefits, which makes them less sensitive to the negative impact of the poor economy. Furthermore, drinking milk products are very diversified in terms of size and price; thus, they meet different consumer needs, which contributes to the rising demand. Furthermore, over the review period, the Vietnamese government constantly launched a number of initiatives in order to raise Vietnamese citizens’ average height. In response to these initiatives, manufacturers working in this category also ran advertising campaigns such as supplying milk to children in rural areas and other promotional programs, not only to strengthen their brand image but also to boost sales.

COMPETITIVE LANDSCAPE

  • Vietnam Dairy Products JSC (Vinamilk) has retained its dominant position in drinking milk products in the country, with 46% and 48% value share respectively in 2012 and 2013. Its leading status is mainly thanks to its long-established history as well as its good reputation for acceptable product quality and reasonable prices. Furthermore, in order to maintain and advance its leading rank, with its strong financial ability, the company is very active in both product developments and marketing activities from public media advertisements to indoors marketing tools. For example, at the beginning of September 2012, in line with the increasing trend of fitness and wellness as well as the increasing demand for fresh/pasteurised milk, Vietnam Dairy Products JSC (Vinamilk) introduced a new product – skimmed fresh milk under its most popular brand Vinamilk. Moreover, its efficient nationwide distribution network is another competitive advantage. Indeed, consumers can easily find their products in prominent locations of most distribution channels including both traditional and modern ones. As a result, the company is expected to continue to maintain its leading rank as well as record a high value growth of 19% in 2013.

PROSPECTS

  • Vietnam is a strong potential market for drinking milk products as milk consumption per capita in the country is still quite low compared to other countries in Asia. Indeed, the young consumers are likely to continue to keep the stable demand for drinking milk products, whereas the increasing consumer awareness of health benefits related to milk in other population generations, especially the older one, is expected to further foster the growth of this category over the forecast period. Furthermore, efforts of both the government and manufacturers in stimulating the demand are another factor fuelling this growth. As a result, drinking milk products is projected to record a high forecast CAGR of 6% in constant value terms over the forecast period. However, because this category has been available in the country for a very long time and it was already growing impressively over the past years, its constant value review period CAGR of 12% is much higher than the constant forecast CAGR of 6%.

Yoghurt and Sour Milk Drinks

TRENDS

  • Over the review period, yoghurt and sour milk products became more popular, mainly thanks to the increasing consumer awareness of their related health benefits as well as the efforts of manufacturers, especially leading ones, in stimulating the demand. Furthermore, due to the busier life, especially in big cities, and the increasing concern for hygiene and food safety, packaged yoghurt slowly took over share previously belonging to home-made and unbranded yoghurt products. As a consequence, yoghurt and sour milk is expected to record a high current value growth of 11% in 2013 despite the economic downturn.

COMPETITIVE LANDSCAPE

  • Vietnam Dairy Products JSC (Vinamilk) continued to dominate in yoghurt and sour milk in Vietnam in both 2012 and 2013, expected to account for 71% value share in 2013, mainly thanks to its dominant position in spoonable yoghurt, which accounts for a 91% share of spoonable yoghurt's value. Furthermore, this company is the one that is expected to record a healthy current value growth of 13% in 2013. Long-established history, good reputation, high product quality, reasonable price and the efficient nationwide distribution network are the company's competitive advantages that have helped it strengthen its position in the market. Indeed, with a strong financial ability, the company is also very active in promotional activities.

PROSPECTS

  • Yoghurt and sour milk is expected to continue to enjoy a higher demand over the forecast period, mainly thanks to the increasingly busy lifestyle, the increasing trend towards health, fitness and wellness and increasing disposable income. The category is likely to expand rapidly in both urban and rural areas. As a result, yoghurt and sour milk is projected to record a healthy CAGR of 6% in constant value terms over the forecast period. However, this forecast CAGR is much weaker than the review period one mainly because of the maturity stage of this category as well as the intense competition.

Other Dairy

TRENDS

  • In 2013, other dairy is expected to record a high current retail value growth of nearly 9%, approximately two percentage points higher compared to 2012. This higher growth is mainly thanks to the higher value growth of condensed/evaporated milk, which accounts for the largest amount of other dairy’s value.

COMPETITIVE LANDSCAPE

  • In 2012 and 2013, Vietnam Dairy Products JSC (Vinamilk) continued to dominate in other dairy in the country, with 88% value share, mainly thanks to its two popular condensed/evaporated milk brands – Ong Tho and Ngoi Sao Phuong Nam. Indeed, Ong Tho is perceived as one of the longest-standing brands of condensed/evaporated milk in Vietnam; thus, it has a large customer base. Due to reasonable prices, long-term establishment and an efficient nationwide distribution network, over the review period, the company continued to strengthen its presence in other dairy in Vietnam.

PROSPECTS

  • Due to the fact that condensed/evaporated milk is already in the mature stage, the demand is projected to slow down further over the forecast period. Moreover, with higher disposable income and higher living standards, consumers are more likely to shift from condensed/evaporated milk to drinking milk products or powder milk for better nutrition. As a result, in constant value terms, this category is expected to record the forecast CAGR of 1%, which is lower than the review period CAGR. As mentioned, because condensed/evaporated milk accounts for the majority of other dairy’s value, its forecast CAGR in constant value terms over the forecast period is also 1%.

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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

DRINKING MILK PRODUCTS

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 1 Sales of Drinking Milk Products by Category: Volume 2008-2013
  • Table 2 Sales of Drinking Milk Products by Category: Value 2008-2013
  • Table 3 Sales of Drinking Milk Products by Category: % Volume Growth 2008-2013
  • Table 4 Sales of Drinking Milk Products by Category: % Value Growth 2008-2013
  • Table 5 Sales of Flavoured Milk Drinks by Chilled vs Ambient: % Volume Analysis 2008-2013
  • Table 6 Sales of Milk by Type: % Value Breakdown 2008-2013
  • Table 7 NBO Company Shares of Drinking Milk Products: % Value 2009-2013
  • Table 8 LBN Brand Shares of Drinking Milk Products: % Value 2010-2013
  • Table 9 Distribution of Drinking Milk Products by Format: % Value 2008-2013
  • Table 10 Forecast Sales of Drinking Milk Products Products by Category: Volume 2013-2018
  • Table 11 Forecast Sales of Drinking Milk Products Products by Category: Value 2013-2018
  • Table 12 Forecast Sales of Drinking Milk Products Products by Category: % Volume Growth 2013-2018
  • Table 13 Forecast Sales of Drinking Milk Products Products by Category: % Value Growth 2013-2018

YOGHURT AND SOUR MILK DRINKS

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 14 Sales of Yoghurt and Sour Milk Products by Category: Volume 2008-2013
  • Table 15 Sales of Yoghurt and Sour Milk Products by Category: Value 2008-2013
  • Table 16 Sales of Yoghurt and Sour Milk Products by Category: % Volume Growth 2008-2013
  • Table 17 Sales of Yoghurt and Sour Milk Products by Category: % Value Growth 2008-2013
  • Table 18 Sales of Yoghurt by Soy-based vs Dairy-based: % Value 2012
  • Table 19 Sales of Flavoured Spoonable Yoghurt by Flavour: Rankings 2008-2013
  • Table 20 Sales of Fruited Spoonable Yoghurt by Flavour: Rankings 2008-2013
  • Table 21 NBO Company Shares of Yoghurt and Sour Milk Products: % Value 2009-2013
  • Table 22 LBN Brand Shares of Yoghurt and Sour Milk Products: % Value 2010-2013
  • Table 23 Distribution of Yoghurt and Sour Milk Products by Format: % Value 2008-2013
  • Table 24 Forecast Sales of Yoghurt and Sour Milk Products by Category: Volume 2013-2018
  • Table 25 Forecast Sales of Yoghurt and Sour Milk Products by Category: Value 2013-2018
  • Table 26 Forecast Sales of Yoghurt and Sour Milk Products by Category: % Volume Growth 2013-2018
  • Table 27 Forecast Sales of Yoghurt and Sour Milk Products by Category: % Value Growth 2013-2018

CHEESE

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 28 Sales of Cheese by Category: Volume 2008-2013
  • Table 29 Sales of Cheese by Category: Value 2008-2013
  • Table 30 Sales of Cheese by Category: % Volume Growth 2008-2013
  • Table 31 Sales of Cheese by Category: % Value Growth 2008-2013
  • Table 32 Sales of Spreadable Processed Cheese by Type: % Value Breakdown 2008-2013
  • Table 33 Sales of Unprocessed Cheese by Type: % Value Breakdown 2010-2013
  • Table 34 NBO Company Shares of Cheese: % Value 2009-2013
  • Table 35 LBN Brand Shares of Cheese: % Value 2010-2013
  • Table 36 Distribution of Cheese by Format: % Value 2008-2013
  • Table 37 Forecast Sales of Cheese by Category: Volume 2013-2018
  • Table 38 Forecast Sales of Cheese by Category: Value 2013-2018
  • Table 39 Forecast Sales of Cheese by Category: % Volume Growth 2013-2018
  • Table 40 Forecast Sales of Cheese by Category: % Value Growth 2013-2018

OTHER DAIRY

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 41 Sales of Other Dairy by Category: Volume 2008-2013
  • Table 42 Sales of Other Dairy by Category: Value 2008-2013
  • Table 43 Sales of Other Dairy by Category: % Volume Growth 2008-2013
  • Table 44 Sales of Other Dairy by Category: % Value Growth 2008-2013
  • Table 45 Sales of Cream by Type: % Value Breakdown 2008-2013
  • Table 46 Distribution of Other Dairy by Format: % Value 2008-2013
  • Table 47 Forecast Sales of Other Dairy by Category: Volume 2013-2018
  • Table 48 Forecast Sales of Other Dairy by Category: Value 2013-2018
  • Table 49 Forecast Sales of Other Dairy by Category: % Volume Growth 2013-2018
  • Table 50 Forecast Sales of Other Dairy by Category: % Value Growth 2013-2018

Dairy in Vietnam - Company Profiles

Nutifood Nutrition Food JSC in Packaged Food (Vietnam)

STRATEGIC DIRECTION

KEY FACTS

  • Summary 1 Nutifood Nutrition Food JSC: Key Facts

COMPANY BACKGROUND

PRODUCTION

COMPETITIVE POSITIONING

  • Summary 2 Nutifood Nutrition Food JSC: Competitive Position 2013

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

STRATEGIC DIRECTION

KEY FACTS

  • Summary 3 Vietnam Dairy Products JSC (Vinamilk): Key Facts
  • Summary 4 Vietnam Dairy Products JSC (Vinamilk): Operational Indicators

COMPANY BACKGROUND

PRODUCTION

COMPETITIVE POSITIONING

  • Summary 5 Vietnam Dairy Products JSC (Vinamilk): 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 51 Foodservice Sales of Packaged Food by Category: Volume 2008-2013
  • Table 52 Foodservice Sales of Packaged Food by Category: % Volume Growth 2008-2013
  • Table 53 Forecast Foodservice Sales of Packaged Food by Category: Volume 2013-2018
  • Table 54 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 55 Sales of Impulse and Indulgence Products by Category: Volume 2008-2013
  • Table 56 Sales of Impulse and Indulgence Products by Category: Value 2008-2013
  • Table 57 Sales of Impulse and Indulgence Products by Category: % Volume Growth 2008-2013
  • Table 58 Sales of Impulse and Indulgence Products by Category: % Value Growth 2008-2013
  • Table 59 NBO Company Shares of Impulse and Indulgence Products: % Value 2009-2013
  • Table 60 LBN Brand Shares of Impulse and Indulgence Products: % Value 2010-2013
  • Table 61 Forecast Sales of Impulse and Indulgence Products by Category: Volume 2013-2018
  • Table 62 Forecast Sales of Impulse and Indulgence Products by Category: Value 2013-2018
  • Table 63 Forecast Sales of Impulse and Indulgence Products by Category: % Volume Growth 2013-2018
  • Table 64 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 65 Sales of Meal Solutions by Category: Volume 2008-2013
  • Table 66 Sales of Meal Solutions by Category: Value 2008-2013
  • Table 67 Sales of Meal Solutions by Category: % Volume Growth 2008-2013
  • Table 68 Sales of Meal Solutions by Category: % Value Growth 2008-2013
  • Table 69 NBO Company Shares of Meal Solutions: % Value 2009-2013
  • Table 70 LBN Brand Shares of Meal Solutions: % Value 2010-2013
  • Table 71 Forecast Sales of Meal Solutions by Category: Volume 2013-2018
  • Table 72 Forecast Sales of Meal Solutions by Category: Value 2013-2018
  • Table 73 Forecast Sales of Meal Solutions by Category: % Volume Growth 2013-2018
  • Table 74 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 75 Sales of Nutrition/Staples by Category: Volume 2008-2013
  • Table 76 Sales of Nutrition/Staples by Category: Value 2008-2013
  • Table 77 Sales of Nutrition/Staples by Category: % Volume Growth 2008-2013
  • Table 78 Sales of Nutrition/Staples by Category: % Value Growth 2008-2013
  • Table 79 NBO Company Shares of Nutrition/Staples: % Value 2009-2013
  • Table 80 LBN Brand Shares of Nutrition/Staples: % Value 2010-2013
  • Table 81 Forecast Sales of Nutrition/Staples by Category: Volume 2013-2018
  • Table 82 Forecast Sales of Nutrition/Staples by Category: Value 2013-2018
  • Table 83 Forecast Sales of Nutrition/Staples by Category: % Volume Growth 2013-2018
  • Table 84 Forecast Sales of Nutrition/Staples by Category: % Value Growth 2013-2018

MARKET DATA

  • Table 85 Sales of Packaged Food by Category: Volume 2008-2013
  • Table 86 Sales of Packaged Food by Category: Value 2008-2013
  • Table 87 Sales of Packaged Food by Category: % Volume Growth 2008-2013
  • Table 88 Sales of Packaged Food by Category: % Value Growth 2008-2013
  • Table 89 GBO Company Shares of Packaged Food: % Value 2009-2013
  • Table 90 NBO Company Shares of Packaged Food: % Value 2009-2013
  • Table 91 LBN Brand Shares of Packaged Food: % Value 2010-2013
  • Table 92 Penetration of Private Label by Category: % Value 2008-2013
  • Table 93 Distribution of Packaged Food by Format: % Value 2008-2013
  • Table 94 Distribution of Packaged Food by Format and Category: % Value 2013
  • Table 95 Forecast Sales of Packaged Food by Category: Volume 2013-2018
  • Table 96 Forecast Sales of Packaged Food by Category: Value 2013-2018
  • Table 97 Forecast Sales of Packaged Food by Category: % Volume Growth 2013-2018
  • Table 98 Forecast Sales of Packaged Food by Category: % Value Growth 2013-2018

SOURCES

  • Summary 6 Research Sources

Segmentation

This market research report includes the following:

  • Packaged Food
    • Dairy
      • Cheese
        • Processed Cheese
          • Spreadable Processed Cheese
          • Unspreadable Processed Cheese
        • Unprocessed Cheese
          • Hard Cheese
            • Packaged Hard Cheese
            • Unpackaged Hard Cheese
          • Soft Cheese
          • Spreadable Unprocessed Cheese
      • Drinking Milk Products
        • Flavoured Milk Drinks
          • Dairy Only Flavoured Milk Drinks
          • Flavoured Milk Drinks with Fruit Juice
        • Flavoured Powder Drinks
          • Chocolate-Based Flavoured Powder Drinks
          • Malt-Based Hot Drinks
          • Non-Chocolate-Based Flavoured Powder Drinks
        • Milk
          • Cow's Milk
            • Fresh/Pasteurised Milk
              • Fat-Free Fresh/Pasteurised Milk
              • Full Fat Fresh/Pasteurised Milk
              • Semi Skimmed Fresh/Pasteurised Milk
            • Long-Life/UHT Milk
              • Fat-Free Long Life/UHT Milk
              • Full Fat Long Life/UHT Milk
              • Semi Skimmed Long Life/UHT 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
          • Spoonable Yoghurt
            • Flavoured Spoonable Yoghurt
            • Fruited Spoonable Yoghurt
            • Plain Spoonable 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/Evaporated Milk
          • Flavoured, Functional Condensed Milk
          • Plain Condensed/Evaporated 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
  • Pricing
  • Analysis by Flavour
  • Analysis by Type
  • Chilled vs Ambient
  • Soy-based vs Dairy-based

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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