Executive Summary

Oct 2019
PROSPECTS
Vietnamese officials take proactive measures to keep hog disease from spreading

In 2018/2019, Vietnamese officials took proactive measures to prevent African hog cholera disease from infected pigs and pig products from spreading into Vietnam. The disease had already struck people in 20 countries and territories, including 25 provinces in China.

Increased income, higher living standards and appealing taste help drive sales

In Vietnam, meat or seafood is a main course that helps ensure that meals are nutritious. When people are poor, they consume less meat/seafood and when they have money they eat more of it.

Expansion of chillers and freezers enables wider distribution of chilled and frozen processed food

Chilled and frozen processed meat and seafood as well chilled meat substitutes all saw strong value growth in 2019, with seafood products posting the highest growth of all. Chillers and freezers are prerequisites for distribution expansion of these products, and thanks to improvement of the national electricity grid and expansion of chillers/freezers across Vietnam, chilled and frozen processed meat and seafood now can be presented from urban to rural areas.

COMPETITIVE LANDSCAPE
Vissan introduces new products and refreshes packaging to maintain its lead

Vissan, the leading player in processed meat and seafood, has reported very strong volume growth in processed meat, where it ranks first, and in processed seafood. Over the year it also introduced 13 new products grouped under snacking products (eg, dried seaweed pork and crispy pork in satay, garlic butter and salted egg flavours), convenient products (eg, Lucky salted egg sausage), family-suited meals (eg, grilled liver pâté) and spices (eg, meat seasoning).

Competition intensifies among new and existing players after major acquisitions and as everyone competes to satisfy demand for South Korean food

Over the review period Vietnam witnessed increasing influence of South Korean players and interest in South Korean food, and recently more South Korean players have entered the field. Masan Jinju (a joint venture of Masan Consumer Corp and Jinju Ham, Korea), for example, has introduced a greater variety of Korean sausages into the marketplace.

Chilled meat substitutes are popular, with tofu generating especially high demand

Tofu, under chilled meat substitutes, is very popular in Vietnam, with vegetarians as well as with most other Vietnamese. Evidence of strong demand for tofu is reflected in such websites as VinMart, where Ichiba Soft Tofu, Vi Nguyen Egg Tofu, and Mr Kim’s Smooth Tofu are among the 21 different tofu products offered for sale.

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Overview

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

The Processed Meat and Seafood 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 Processed Meat and Seafood in Vietnam?
  • What are the major brands in Vietnam?
  • Which dietary supplement grew the fastest in the past year?

Why buy this report?

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  • 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.

Processed Meat and Seafood in Vietnam - Category analysis

HEADLINES

PROSPECTS

Vietnamese officials take proactive measures to keep hog disease from spreading
Increased income, higher living standards and appealing taste help drive sales
Expansion of chillers and freezers enables wider distribution of chilled and frozen processed food

COMPETITIVE LANDSCAPE

Vissan introduces new products and refreshes packaging to maintain its lead
Competition intensifies among new and existing players after major acquisitions and as everyone competes to satisfy demand for South Korean food
Chilled meat substitutes are popular, with tofu generating especially high demand

CATEGORY DATA

Table 1 Sales of Processed Meat and Seafood by Category: Volume 2014-2019
Table 2 Sales of Processed Meat and Seafood by Category: Value 2014-2019
Table 3 Sales of Processed Meat and Seafood by Category: % Volume Growth 2014-2019
Table 4 Sales of Processed Meat and Seafood by Category: % Value Growth 2014-2019
Table 5 Sales of Shelf Stable Processed Red Meat by Type: % Volume Breakdown 2014-2019
Table 6 Sales of Chilled Processed Red Meat by Type: % Volume Breakdown 2014-2019
Table 7 Sales of Frozen Processed Red Meat by Type: % Volume Breakdown 2014-2019
Table 8 Sales of Frozen Processed Seafood by Type: % Value Breakdown 2014-2019
Table 9 NBO Company Shares of Processed Meat and Seafood: % Value 2015-2019
Table 10 LBN Brand Shares of Processed Meat and Seafood: % Value 2016-2019
Table 11 Distribution of Processed Meat and Seafood by Format: % Value 2014-2019
Table 12 Forecast Sales of Processed Meat and Seafood by Category: Volume 2019-2024
Table 13 Forecast Sales of Processed Meat and Seafood by Category: Value 2019-2024
Table 14 Forecast Sales of Processed Meat and Seafood by Category: % Volume Growth 2019-2024
Table 15 Forecast Sales of Processed Meat and Seafood 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 16 Foodservice Sales of Packaged Food by Category: Volume 2014-2019
Table 17 Foodservice Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 18 Forecast Foodservice Sales of Packaged Food by Category: Volume 2019-2024
Table 19 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2019-2024

MARKET DATA

Table 20 Sales of Packaged Food by Category: Volume 2014-2019
Table 21 Sales of Packaged Food by Category: Value 2014-2019
Table 22 Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 23 Sales of Packaged Food by Category: % Value Growth 2014-2019
Table 24 GBO Company Shares of Packaged Food: % Value 2015-2019
Table 25 NBO Company Shares of Packaged Food: % Value 2015-2019
Table 26 LBN Brand Shares of Packaged Food: % Value 2016-2019
Table 27 Penetration of Private Label by Category: % Value 2014-2019
Table 28 Distribution of Packaged Food by Format: % Value 2014-2019
Table 29 Distribution of Packaged Food by Format and Category: % Value 2019
Table 30 Forecast Sales of Packaged Food by Category: Volume 2019-2024
Table 31 Forecast Sales of Packaged Food by Category: Value 2019-2024
Table 32 Forecast Sales of Packaged Food by Category: % Volume Growth 2019-2024
Table 33 Forecast Sales of Packaged Food by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources