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.
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.
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.
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).
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.
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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This industry report originates from Passport.