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2026 Developments
Dairy products and alternatives in Vietnam is set to achieve notable value growth of 4% in 2026, to reach VND156.1 trillion, driven by a resurgence in tourism, robust retail demand, and favourable economic conditions including a 7% real GDP expansion and rising disposable incomes. The landscape remains highly attractive for investment, underpinned by expanding urbanisation, premiumisation, and health-led consumption, with companies successfully mitigating cost pressures through measured pricing and innovation. Leading players have secured their positions by launching functional products and leveraging modern and digital retail channels, while the rapid development of plant-based and wellness-focused offerings reflects a decisive shift in Vietnamese consumer expectations. Brands seeking success must prioritise accessible, health-oriented product development, digital engagement, and targeted retail partnerships to capitalise on evolving purchasing habits and defend against rising competition.
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Overview:
Understand the latest market trends and future growth opportunities for the Dairy Products and Alternatives industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
If you're in the Dairy Products and Alternatives industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Dairy Products and Alternatives in Vietnam report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Dairy Products and Alternatives in Vietnam?
- Which are the leading brands in Dairy Products and Alternatives in Vietnam?
- How are products distributed in Dairy Products and Alternatives in Vietnam?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Dairy Products and Alternatives?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Vietnam?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Dairy Products and Alternatives in Vietnam
2026 Developments
Key Data Insights
Chart 1 Key Industry Trends for Dairy Products and Alternatives
Tourism and Health Trends Drive Steady Growth in Vietnamese Dairy Products and Alternatives
Pricing Pressures From Import Dependency Reshape Competitive Strategies in Vietnamese Dairy
Chart 2 Vinamilk Gradually Increases Selling Price in 2026
Everyday Wellness Transforms Dairy into a Daily Nutrition Platform in Vietnam
Chart 3 Vinamilk Launches High-Protein Greek Yogurt
Chart 4 Value Sales 2021-2031
Chart 5 Value Sales by Category 2026
Rising Wellness Consciousness and Tourism to Sustain Future Growth in Vietnam
Urban Migration and Retail Modernisation Set to Accelerate Shift to Convenience and Premiumisation
Chart 6 Analyst Insight for Dairy Products and Alternatives
Rising Incomes and Evolving Tastes to Spur Innovation in Premium and Functional Foods
Chart 7 Forecast Value Sales 2021-2031
Chart 8 Forecast Value Sales by Category 2026-2031
Vinamilk Sustains Lead with Premium Launches and Targeted Campaigns
Chart 9 Company Shares 2026
Chart 10 Brand Shares 2026
Modern Retail Expansion and Innovative Collaborations Reshape Dairy Distribution in Vietnam
Retail E-Commerce Accelerates Growth through Livestreaming and Mega Sales
Clean Label Reformulation and Bite-Sized Formats Dictate New Product Development
Premium Cheese Snacks and Experiential Retail Concepts Lead Recent Launches
Strategic Partnerships and Portfolio Diversification Secure Long-Term Competitive Advantage
Chart 11 Economic Context for Dairy Products and Alternatives
Chart 12 Real GDP Growth 2021-2031
Chart 13 Inflation 2021-2031
Chart 14 Consumer Context for Dairy Products and Alternatives
Chart 15 Population 2021-2031
Chart 16 Population by Generation 2026
Chart 17 Consumer Expenditure 2021-2031
Baby Food in Vietnam
Key Data Insights
Baby Food Summary
Chart 18 Key Industry Trends for Baby Food
Rising Population Sustains Long-Term Demand for Infant Nutrition
Imported Milk Powder Faces Rising Costs as Parents Seek Alternatives
Chart 19 Imported Milk under Pressure to Increase Prices
Functional Snacking Gains Traction as Wellness Drives Innovation
Chart 20 Value Sales 2021-2031
Chart 21 Value Sales by Category 2026
Urban Parents Set to Shift to Premium Nutrition as Incomes Rise
Milk Formula to Maintain Dominance as Functional Innovation Accelerates
Chart 22 Analyst Insight for Baby Food
Premiumisation and Digital Engagement to Redefine Family Spending Priorities
Chart 23 Forecast Value Sales 2021-2031
Chart 24 Forecast Value Sales by Category 2026-2031
Abbott Expands Digital Engagement to Defend Premium Positioning
Chart 25 Company Shares 2026
Chart 26 Brand Shares 2026
Offline Retailers Maintain Trust as Modern Formats Expand
E-Commerce Accelerates as Discount Culture Reshapes Shopping Habits
Nutifood and Bach Hoa Xanh Boost Engagement with Shop-In-Shop Concept
Chart 27 Retail Channels 2021-2026
Advanced Functional Formulations and Omnichannel Strategies Dictate New Development
Experiential Retail Concepts and Digital Activations Lead Recent Market Activity
Strategic Distribution and Domestic Brand Elevation Reshape the Competitive Landscape
Chart 28 Economic Context for Baby Food
Chart 29 Real GDP Growth 2021-2031
Chart 30 Inflation 2021-2031
Chart 31 Consumer Context for Baby Food
Chart 32 Population 2021-2031
Chart 33 Population by Generation 2026
Butter and Spreads in Vietnam
Key Data Insights
Butter and Spreads Summary
Chart 34 Key Industry Trends for Butter and Spreads
Global Brands Face Rising Import Costs and Shifting Consumer Choices
Margarine and Spreads Maintains Value Lead but Butter Grows Faster
Tuong an Reformulates Margarine to Meet Wellness and Affordability Demands
Chart 35 Tuong an Unigon Offers Healthy Plant-Based Alternative
Chart 36 Value Sales 2021-2031
Chart 37 Value Sales by Category 2026
Imported Butter Suppliers to Partner with Local Distributors to Boost Foodservice Sales
Chart 38 Analyst Insight for Butter and Spreads
Social Media Creators Set to Drive Home Baking and Western Meal Trends
Chart 39 Forecast Value Sales 2021-2031
Chart 40 Forecast Value Sales by Category 2026-2031
Tuong an and Groupe Lactalis Leverage Innovation and Distribution for Growth
Chart 41 Company Shares 2026
Chart 42 Brand Shares 2026
Small Local Grocers Lead Butter and Spreads Distribution as Modern Retail Expands
E-Commerce Platforms and Social Media Fuel New Shopper Discovery
Clean Label Reformulation and Cost Management Dictate New Product Development
Strategic Partnerships and Hybrid Formulations Lead Recent Market Activity
Shrinkflation and Premiumisation Reshape Competitive Dynamics and Consumer Expectations
Chart 43 Economic Context for Butter and Spreads
Chart 44 Real GDP Growth 2021-2031
Chart 45 Inflation 2021-2031
Chart 46 Consumer Context for Butter and Spreads
Chart 47 Population 2021-2031
Chart 48 Population by Generation 2026
Chart 49 Consumer Expenditure 2021-2031
Cheese in Vietnam
Key Data Insights
Cheese Summary
Chart 50 Key Industry Trends for Cheese
Tourism Recovery and Western Cuisine Drive Robust Cheese Growth in Vietnam
Belcube Engages Gen Z with Gaming-Driven Flavour Innovation
Chart 51 Belcube Mango Passion Fruit
Rising Import Costs Squeeze Foodservice Margins and Drive Demand for Local Alternatives
Chart 52 Value Sales by Category 2026
New Launches Set to Reshape Healthy Snacking Choices
Chart 53 Analyst Insight for Cheese
Tourism and Rising Costs to Prompt Price Shifts and Channel Adaptation
Chart 54 Forecast Value Sales 2021-2031
Chart 55 Forecast Value Sales by Category 2026-2031
Bel Vietnam Ltd Invests in Expansion to Reinforce Dominance
Chart 56 Company Shares 2026
Chart 57 Brand Shares 2026
Modern Grocery Retailers Drive Premium Cheese Access
Specialist E-Commerce Platforms Boost Cheese Convenience and Reach
Functional Indulgence and Digital Engagement Shape New Snacking Formats
Gamified Launches and Localised Flavour Profiles Lead Recent Market Activity
Localised Production and Experiential Marketing Redefine Competitive Strategies
Chart 58 Economic Context for Cheese
Chart 59 Real GDP Growth 2021-2031
Chart 60 Inflation 2021-2031
Chart 61 Consumer Context for Cheese
Chart 62 Population 2021-2031
Chart 63 Population by Generation 2026
Drinking Milk Products in Vietnam
Key Data Insights
Drinking Milk Products Summary
Chart 64 Key Industry Trends for Drinking Milk Products
Vinamilk Sets Benchmark with Measured Price Rise and Channel Expansion
Chart 65 Pressure on Milk Producers to Increase Selling Price
Milk Maintains Leadership through National Nutrition Campaigns and Innovation
Functional Indulgence Reshapes Consumer Experiences
Chart 66 Vinamilk Launches Special Edition for Festive Season
Chart 67 Value Sales 2021-2031
Chart 68 Value Sales by Category 2026
Product Innovation Needed to Defend Share against Plant-Based Rivals
Milk to Remain Dominant, While Flavoured Milk Drinks Will Accelerate through Innovation
Chart 69 Analyst Insight for Drinking Milk Products
Government Reforms and Health Trends to Reshape Business Strategies
Chart 70 Forecast Value Sales 2021-2031
Chart 71 Forecast Value Sales by Category 2026-2031
Vinamilk Capitalises on Innovation to Retain Lead as Competition Intensifies
Chart 72 Company Shares 2026
Chart 73 Brand Shares 2026
Modern Retail Formats Reshape Offline Distribution for Drinking Milk Products
Livestream-Driven Brands and Digital Caution Reshape Consumer Trust
Chart 74 Retail Channels 2021-2026
Experiential Flavour Profiles and Adult-Oriented Positioning Dictate New Formulations
Novel Mocktail Ranges and Premium Ingredient Sourcing Lead Recent Launches
Strategic Premiumisation and Retail Expansion Protect Long-Term Profitability
Chart 75 Economic Context for Drinking Milk Products
Chart 76 Real GDP Growth 2021-2031
Chart 77 Inflation 2021-2031
Chart 78 Consumer Context for Drinking Milk Products
Chart 79 Population 2021-2031
Chart 80 Population by Generation 2026
Chart 81 Consumer Expenditure 2021-2031
Yoghurt and Sour Milk Products in Vietnam
Key Data Insights
Yoghurt and Sour Milk Products Summary
Chart 82 Key Industry Trends for Yoghurt and Sour Milk Products
Health and Wellness Trends Drive Robust Growth in Vietnamese Yoghurt and Sour Milk Products
Vinamilk’S Yoghurt Launches Set New Standard for Protein and Accessibility
Chart 83 Vinamilk Launches High-Protein Yoghurt Option
Expanding Functional Indulgence to Urban Lifestyles
Chart 84 Dalat Milk Cool C Strawberry Launches Locally
Chart 85 Value Sales 2021-2031
Chart 86 Value Sales by Category 2026
Premium and Functional Launches to Attract Urban Shoppers Seeking Healthier Choices
Chart 87 Analyst Insight for Yoghurt and Sour Milk Products
Consumers Set to Embrace Protein-Rich Yoghurt as Mainstay of Daily Diets
Chart 88 Forecast Value Sales 2021-2031
Chart 89 Forecast Value Sales by Category 2026-2031
Vinamilk Drives Innovation to Sustain Leadership and Reshape Competition
Chart 90 Company Shares 2026
Chart 91 Brand Shares 2026
Modern Retailers Win Share as Promotions Drive Consumer Shift
Livestream Mega Sales Accelerate E-Commerce Gains in Dairy
Chart 92 Retail Channels 2021-2026
Clean Label Reformulation and Sugar Reduction Dictate New Product Development
Probiotic Enrichment and Regional Flavour Profiles Lead Recent Launches
Premiumisation and Category Repositioning Secure Long-Term Profitability
Chart 93 Economic Context for Yoghurt and Sour Milk Products
Chart 94 Real GDP Growth 2021-2031
Chart 95 Inflation 2021-2031
Chart 96 Consumer Context for Yoghurt and Sour Milk Products
Chart 97 Population 2021-2031
Chart 98 Population by Generation 2026
Chart 99 Consumer Expenditure 2021-2031
Other Dairy in Vietnam
Key Data Insights
Other Dairy Summary
Chart 100 Key Industry Trends for Other Dairy
Tourism and Premiumisation Drive Steady Growth in Vietnamese Other Dairy
Everyday Wellness Transforms Dairy Desserts with Functional Nutrition
Chart 101 New Imported Dairy Dessert Kidsmix Aims to Support Early Childhood Development
Functional Indulgence Elevates Traditional Dairy with Premium Flavours
Chart 102 Vinamilk Launches Ong Tho Matcha to Leverage Booming Home Café Trend
Chart 103 Value Sales 2021-2031
Chart 104 Value Sales by Category 2026
Vinamilk Set to Expand Packaging Options to Manage Price Sensitivity
Chart 105 Analyst Insight for Other Dairy
Good Food Vietnam Launches Imported Non-Dairy Cream for Premium Outlets
Chart 106 Forecast Value Sales 2021-2031
Chart 107 Forecast Value Sales by Category 2026-2031
Vinamilk Accelerates Omnichannel and Foodservice Innovation to Outpace Rivals
Chart 108 Company Shares 2026
Chart 109 Brand Shares 2026
Convenience Stores and Supermarkets Attract Young Shoppers with Aggressive Discounts
Livestream Sales and Mega Discounts Reshape Consumer Expectations
Chart 110 Retail Channels 2021-2026
Advanced Formulation Techniques and Ingredient Sourcing Reshape Product Development
European Imports and Heritage Brand Extensions Lead Recent Launches
Packaging Optimisation and Digital Engagement Redefine Competitive Strategies
Chart 111 Economic Context for Other Dairy
Chart 112 Real GDP Growth 2021-2031
Chart 113 Inflation 2021-2031
Chart 114 Consumer Context for Other Dairy
Chart 115 Population 2021-2031
Chart 116 Population by Generation 2026
Chart 117 Consumer Expenditure 2021-2031
Plant-Based Dairy in Vietnam
Key Data Insights
Plant-Based Dairy Summary
Chart 118 Key Industry Trends for Plant-Based Dairy
Transparent Health Claims and Taste Drive Consumer Loyalty
Vinasoy Redefines Children’S Nutrition with Functional Plant-Based Milk
Chart 119 Vinasoy's Veyo Smarty Is a Pioneering Plant-Based Milk Created Specifically for Children
Oatside Brings Barista-Grade Oat Milk to Family Tables
Chart 120 Oatside Deluxe Launch Strategy Leverages Plant-Based Reset Trend
Chart 121 Value Sales 2021-2031
Chart 122 Value Sales by Category 2026
Vinasoy Set to Build Trust with Transparent Sourcing and Education
Players to Capture Urban Demand with High-Quality Functional Launches
Chart 123 Analyst Insight for Plant-Based Dairy
Urbanisation and Income Growth to Accelerate the Functional Wellness Shift
Chart 124 Forecast Value Sales 2021-2031
Chart 125 Forecast Value Sales by Category 2026-2031
Vinasoy Expands Innovation and Outreach to Reinforce Dominance
Chart 126 Company Shares 2026
Chart 127 Brand Shares 2026
Supermarkets and Convenience Stores Attract Younger Urban Shoppers
Livestream Sales and Discounts Boost E-Commerce Competition
Chart 128 Retail Channels 2021-2026
Packaging Innovation and Flavour Localisation Dictate New Product Development
Targeted Paediatric Nutrition and Family-Oriented Oat Milk Lead Recent Launches
Market Disruption and Competitive Acceleration Reshape the Industry Landscape
Chart 129 Economic Context for Plant-Based Dairy
Chart 130 Real GDP Growth 2021-2031
Chart 131 Inflation 2021-2031
Chart 132 Consumer Context for Plant-Based Dairy
Chart 133 Population 2021-2031
Chart 134 Population by Generation 2026
Chart 135 Consumer Expenditure 2021-2031
Country Reports Disclaimer
The following categories and subcategories are included:
Dairy Products and Alternatives
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- Dried Baby Food
- Prepared Baby Food
- Other Baby Food
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- Liquid Standard Milk Formula
- Powder Standard Milk Formula
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- Liquid Follow-on Milk Formula
- Powder Follow-on Milk Formula
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- Liquid Growing-Up Milk Formula
- Powder Growing-Up Milk Formula
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- Liquid Special Baby Milk Formula
- Powder Special Baby Milk Formula
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- Butter
- Cooking Fats
- Margarine and Spreads
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- Spreadable Cheese
- Processed Cheese excl Spreadable
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- Packaged Hard Cheese
- Unpackaged Hard Cheese
- Soft Cheese
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- Dairy Only Flavoured Milk Drinks
- Flavoured Milk Drinks with Fruit Juice
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- Fat-free Fresh Milk
- Semi Skimmed Fresh Milk
- Full Fat Fresh Milk
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- Fat-free Shelf Stable Milk
- Semi Skimmed Shelf Stable Milk
- Full Fat Shelf Stable Milk
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- Goat Milk
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- Powder Milk
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- Sour Milk Products
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- Drinking Yoghurt
- Flavoured Yoghurt
- Plain Yoghurt
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- Chilled Dairy Desserts
- Shelf Stable Dairy Desserts
- Chilled Snacks
- Coffee Whiteners
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- Flavoured Condensed Milk
- Plain Condensed Milk
- Evaporated Milk
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- Cream
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- Flavoured Fromage Frais and Quark
- Plain Fromage Frais and Quark
- Savoury Fromage Frais and Quark
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- Soy Drinks
- Other Plant-based Milk
- Plant-based Yoghurt
- Plant-based Cheese
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This report originates from Passport, our Dairy Products and Alternatives research and analysis database.
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