Executive Summary

Aug 2019
PROSPECTS
Higher income increases demand for higher quality and take-home ice cream

Thanks to Vietnam’s stable economic growth and increase in average income, families are becoming more willing to spend on ice cream they can store at home to enjoy on demand. Thus, multi-pack dairy ice cream and bulk ice cream continued to see the highest value growth again in 2019.

Interest in water ice cream being low, players focus almost entirely on dairy products

In Vietnam, dairy ice cream accounts for the majority of display space in stores. Moreover, single-portion water ice cream, the only type of water-based product present in the Vietnamese market, continues to see only single-digit growth and its growth slowed down in 2019.

While many factors will boost sales, expansion will rely on widening freezer penetration

The increased offer of new products and entry of new players such as TH Food Chain, which entered the ice cream space in 2018, is expected to expand the overall size of ice cream and frozen desserts over the forecast period. However, so far the category has not developed as rapidly as expected.

COMPETITIVE LANDSCAPE
Innovation, brand recognition and loyalty keeps Kido ahead in mature category

Although in 2019 it faced tough competition in a more mature category, Kido Group continued to lead in ice cream and frozen desserts, where it ranks first in single-portion dairy ice cream and bulk dairy ice cream. Its leading Merino and Celano brands hold a large share of value sales, benefiting from high brand recognition and consumer loyalty.

High demand for multi-pack ice cream boosts Wall’s growth for yet another year

No ice cream brand has benefitted more from the increased demand and high value growth of multi-pack dairy ice cream than Wall’s Cornetto. The Unilever Vietnam brand saw its value share in this category increase for the fifth consecutive year in 2019 and its sales rose by double digits over the entire 2014-2019 review period.

Domestic and international brands distinguish themselves with diversity

The ice cream and frozen desserts landscape is crowded with both local and international players that distinguish themselves by introducing diverse new flavours and premium options. Amongst the domestic players is TH Food Chain, Vietnam’s largest fresh, clean and organic milk producer.

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Ice Cream and Frozen Desserts in Vietnam

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Overview

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

The Ice Cream and Frozen Desserts 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 Ice Cream and Frozen Desserts in Vietnam?
  • What are the major brands in Vietnam?
  • Which dietary supplement grew the fastest in the past year?

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.

Ice Cream and Frozen Desserts in Vietnam - Category analysis

HEADLINES

PROSPECTS

Higher income increases demand for higher quality and take-home ice cream
Interest in water ice cream being low, players focus almost entirely on dairy products
While many factors will boost sales, expansion will rely on widening freezer penetration

COMPETITIVE LANDSCAPE

Innovation, brand recognition and loyalty keeps Kido ahead in mature category
High demand for multi-pack ice cream boosts Wall’s growth for yet another year
Domestic and international brands distinguish themselves with diversity

CATEGORY DATA

Table 1 Sales of Ice Cream and Frozen Desserts by Category: Volume 2014-2019
Table 2 Sales of Ice Cream and Frozen Desserts by Category: Value 2014-2019
Table 3 Sales of Ice Cream and Frozen Desserts by Category: % Volume Growth 2014-2019
Table 4 Sales of Ice Cream and Frozen Desserts by Category: % Value Growth 2014-2019
Table 5 Sales of Ice Cream by Leading Flavours: Rankings 2014-2019
Table 6 Sales of Impulse Ice Cream by Format: % Value 2016-2019
Table 7 NBO Company Shares of Ice Cream and Frozen Desserts: % Value 2015-2019
Table 8 LBN Brand Shares of Ice Cream and Frozen Desserts: % Value 2016-2019
Table 9 NBO Company Shares of Ice Cream: % Value 2015-2019
Table 10 LBN Brand Shares of Ice Cream: % Value 2016-2019
Table 11 NBO Company Shares of Impulse Ice Cream: % Value 2015-2019
Table 12 LBN Brand Shares of Impulse Ice Cream: % Value 2016-2019
Table 13 NBO Company Shares of Take-home Ice Cream: % Value 2015-2019
Table 14 LBN Brand Shares of Take-home Ice Cream: % Value 2016-2019
Table 15 Distribution of Ice Cream and Frozen Desserts by Format: % Value 2014-2019
Table 16 Distribution of Ice Cream by Format: % Value 2014-2019
Table 17 Forecast Sales of Ice Cream and Frozen Desserts by Category: Volume 2019-2024
Table 18 Forecast Sales of Ice Cream and Frozen Desserts by Category: Value 2019-2024
Table 19 Forecast Sales of Ice Cream and Frozen Desserts by Category: % Volume Growth 2019-2024
Table 20 Forecast Sales of Ice Cream and Frozen Desserts by Category: % Value Growth 2019-2024

Packaged Food in Vietnam - Industry Overview

EXECUTIVE SUMMARY

Food safety concerns, expanded distribution, and improved disposable income are among a host of reasons why packaged food sales were thriving in 2019
Premium products not only perform well, but often drive growth of entire categories
In a highly fragmented market, the top 15 players and the artisanal value shares account for the lion’s share of market value sales
Convenience store expansion beyond major urban areas continues to boost demand for packaged food brands and products given more exposure
There are myriad reasons to be optimistic about continued strong value growth

FOODSERVICE

Sales to Foodservice
In an intensely competitive environment packaged food players strive to increase volume sales and brand image
International packaged food providers to foodservice, especially to major chains, have advantages by having global partnerships and in view of concerns over food safety and demand for higher-quality ingredients
Smaller independent foodservice players such as street stall operators tend to purchase their cooking ingredients from retailers/wholesalers rather than from manufacturers
Consumer Foodservice
Improved economy and societal/lifestyle changes drive Vietnamese to eat out more often
Street food is a popular tradition that continues to attract locals as well as tourists, driven by articles on the internet touting its many delights and delicacies
Foodservice restaurants entice younger, more adventurous consumers with various decorations and themes
Category Data
Table 21 Foodservice Sales of Packaged Food by Category: Volume 2014-2019
Table 22 Foodservice Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 23 Forecast Foodservice Sales of Packaged Food by Category: Volume 2019-2024
Table 24 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2019-2024

MARKET DATA

Table 25 Sales of Packaged Food by Category: Volume 2014-2019
Table 26 Sales of Packaged Food by Category: Value 2014-2019
Table 27 Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 28 Sales of Packaged Food by Category: % Value Growth 2014-2019
Table 29 GBO Company Shares of Packaged Food: % Value 2015-2019
Table 30 NBO Company Shares of Packaged Food: % Value 2015-2019
Table 31 LBN Brand Shares of Packaged Food: % Value 2016-2019
Table 32 Penetration of Private Label by Category: % Value 2014-2019
Table 33 Distribution of Packaged Food by Format: % Value 2014-2019
Table 34 Distribution of Packaged Food by Format and Category: % Value 2019
Table 35 Forecast Sales of Packaged Food by Category: Volume 2019-2024
Table 36 Forecast Sales of Packaged Food by Category: Value 2019-2024
Table 37 Forecast Sales of Packaged Food by Category: % Volume Growth 2019-2024
Table 38 Forecast Sales of Packaged Food by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources