Although chocolate confectionery is stably growing, tablets saw the fastest value growth in 2019. More new international and local players entered this category over the review period, boosting sales.
A wide age range of consumers enjoy the taste of chocolate, and this helps chocolate confectionery attract customers of different income levels. Chocolate confectionery benefits from the fact that Vietnamese consumers are accustomed to consuming chocolate in both food and beverages.
Every year chocolate confectionery players invest more in seasonal launches, especially within boxed assortments and tablets. These are often promoted with elaborate displays during the Tet (Lunar New Year) and Valentine Day season, when sales of chocolate confectionery and other snacks such as sugar confectionery and sweet biscuits peak.
International brands still account for the highest share of chocolate confectionery sales in Vietnam, largely because imported chocolate products have penetrated the country widely over recent decades in line with the ongoing westernisation trend. It is also true that the majority of chocolate confectionery brands that retailers carry are international ones, with second-ranked domestic brand Belcholat being an exception.
While international players hold most of the leading positions within chocolate confectionery, Vietnamese consumers are increasingly determined to support domestic products. This has been encouraged by the appearance of high-quality locally produced brands as Marou (Marou Chocolate).
In Indonesia, chocolate confectionery is mostly sold through distributors without the benefit of above-the-line marketing activities. Only KitKat (Nestlé Vietnam) advertises on TV and that investment leverages on the whole Nestlé portfolio, which benefits in Vietnam from regular marketing activities.
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This industry report originates from Passport, our Packaged Food market research database.