Country Report

Butter and Margarine in

Butter and Margarine in Vietnam

27 pages, Aug 2017

US$990

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Executive Summary

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TRENDS

Rising familiarity with Western culture and cuisine continues to have a positive impact on the development of butter and margarine in Vietnam, especially among younger consumers. These ingredients are increasingly used in home cooking, as consumers become more adventurous with trying new recipes and menus. The expansion of Western-style foodservice outlets, especially in big cities, has also fostered consumers’ acceptance of food that requires the use of butter as an ingredient. Indeed, in 2017, volume sales of butter to foodservice was nearly 10 times higher than retail volume sales. This indicates that retail consumption, despite showing growth, is still small.

COMPETITIVE LANDSCAPE

In 2016-2017, Tuong An Vegetable Oil JSC continued to lead butter and margarine, with a 52% value share overall. The company’s dominance is mainly stemming from its prominence in margarine and spreads, where it held a 74% value share in 2017. In fact, its success was implied when in November 2016, Kido Group bought 65% of the total number of shares issued for Tuong An Vegetable oil. The company’s brand Tuong an has outperformed other brands such as Meizan (Cai Lan Oils & Fats Industries Co Ltd), which is mainly attributed to consumer loyalty. The company owns a wide distribution network, covering both traditional and modern channels, and Tuong an has a strong brand name along with affordable prices and a taste that is widely accepted by the Vietnamese.

PROSPECTS

Over the forecast period, butter and margarine is expected to record a value CAGR of 4% at constant 2017 prices. The rising maturity of the category, especially margarine and spreads, is likely to dampen growth, yet the outlook is still optimistic considering rising consumer-awareness and potential new entrants.

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Overview

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Overview

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

The Butter and Margarine 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 Butter and Margarine in Vietnam?
What are the major brands in Vietnam?
Are consumers in emerging markets moving from unpackaged to packaged oils and fats?
What are the sales prospects for “healthy” cooking oils?
Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than cooking at home?

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

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Country Report

Butter and Margarine in Vietnam

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Executive Summary

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TRENDS

COMPETITIVE LANDSCAPE

PROSPECTS

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Overview

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