Executive Summary

Oct 2019
PROSPECTS
Convenience is the key driver of ready meals growth, as busier consumers seek quicker meal solutions

Ready meals in Vietnam come in different kinds of formats and offer different kinds of food for different occasions. For example, Chao sen Bat Bao (a lotus congee bowl) in shelf-stable ready meals is consumed as a way to quickly recover from sickness, My Huong chilled mantou (buns) are popular for a quick breakfast and Cau Tre frozen spring rolls are popular choices for quick meals.

Expansion of modern trade channel moderately affects ready meals

The expansion of modern grocery retailers has boosted sales of ready meals – particularly of frozen ready meals, as modern supermarkets, hypermarkets and convenience stores usually equip freezers that can stock frozen ready meals. Frozen ready meals recorded particularly strong growth over the review period, and strong penetration of the modern channel in urban areas contributed the most to this growth.

Domestic consumers embrace traditional food wherever they can find it, and local players in frozen ready meals offer plenty of traditional options

The Vietnamese love their traditional food and are eager to consume it wherever they can find it – anytime and anywhere. They have responded particularly well to new offerings in convenient frozen ready meals, which the leading domestic players CJ Cau Tre and Vissan continue to provide.

COMPETITIVE LANDSCAPE
Vissan maintains its lead, but continues to lose value share to other competitors

Vissan maintained its clear leadership in ready meals in 2019, as the long-established player has successfully used its knowledge and experience of the local market to extend its product portfolio with Vietnamese consumers’ preferences in mind. It also retains the benefit of having a wide distribution, not only its own stores but also in traditional and modern grocery outlets.

CJ Cau Tre Foods strongly expands its footprint and posts the highest gains

CJ Cau Tre Foods has been strongly expanding its footprint within ready meals; it posted the highest value growth in 2019 and has gained more than four percentage points in value share since its entry in 2017. It has expanded its product range, especially with new imports from Korea.

Local players reinforce their presence with new products and packaging, taking advantage of their knowledge of Vietnamese food and taste preferences

The main players in ready meals are making great efforts to reinforce their market positions in Vietnam with new packaging and more flavours. However, local players such as Vissan, Cholimex and, recently, LC Foods are the ones that are making the most of their greater understanding of Vietnamese consumers’ preferences and tastes.

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Ready Meals in Vietnam

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Overview

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

The Ready meals 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 Ready meals in Vietnam?
  • What are the major brands in Vietnam?
  • Will retail sales suffer as economic prospects improve and consumers move back to eating out rather than eating at home?
  • How are manufacturers leveraging popular restaurant chains to help more austere consumers recreate a restaurant experience at home?
  • How much are consumers willing to pay for convenience?

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, our Packaged Food market research database.

Ready Meals in Vietnam - Category analysis

HEADLINES

PROSPECTS

Convenience is the key driver of ready meals growth, as busier consumers seek quicker meal solutions
Expansion of modern trade channel moderately affects ready meals
Domestic consumers embrace traditional food wherever they can find it, and local players in frozen ready meals offer plenty of traditional options

COMPETITIVE LANDSCAPE

Vissan maintains its lead, but continues to lose value share to other competitors
CJ Cau Tre Foods strongly expands its footprint and posts the highest gains
Local players reinforce their presence with new products and packaging, taking advantage of their knowledge of Vietnamese food and taste preferences

CATEGORY DATA

Table 1 Sales of Ready Meals by Category: Volume 2014-2019
Table 2 Sales of Ready Meals by Category: Value 2014-2019
Table 3 Sales of Ready Meals by Category: % Volume Growth 2014-2019
Table 4 Sales of Ready Meals by Category: % Value Growth 2014-2019
Table 5 Sales of Chilled Ready Meals by Ethnicity: % Value 2014-2019
Table 6 NBO Company Shares of Ready Meals: % Value 2015-2019
Table 7 LBN Brand Shares of Ready Meals: % Value 2016-2019
Table 8 Distribution of Ready Meals by Format: % Value 2014-2019
Table 9 Forecast Sales of Ready Meals by Category: Volume 2019-2024
Table 10 Forecast Sales of Ready Meals by Category: Value 2019-2024
Table 11 Forecast Sales of Ready Meals by Category: % Volume Growth 2019-2024
Table 12 Forecast Sales of Ready Meals 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 13 Foodservice Sales of Packaged Food by Category: Volume 2014-2019
Table 14 Foodservice Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 15 Forecast Foodservice Sales of Packaged Food by Category: Volume 2019-2024
Table 16 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2019-2024

MARKET DATA

Table 17 Sales of Packaged Food by Category: Volume 2014-2019
Table 18 Sales of Packaged Food by Category: Value 2014-2019
Table 19 Sales of Packaged Food by Category: % Volume Growth 2014-2019
Table 20 Sales of Packaged Food by Category: % Value Growth 2014-2019
Table 21 GBO Company Shares of Packaged Food: % Value 2015-2019
Table 22 NBO Company Shares of Packaged Food: % Value 2015-2019
Table 23 LBN Brand Shares of Packaged Food: % Value 2016-2019
Table 24 Penetration of Private Label by Category: % Value 2014-2019
Table 25 Distribution of Packaged Food by Format: % Value 2014-2019
Table 26 Distribution of Packaged Food by Format and Category: % Value 2019
Table 27 Forecast Sales of Packaged Food by Category: Volume 2019-2024
Table 28 Forecast Sales of Packaged Food by Category: Value 2019-2024
Table 29 Forecast Sales of Packaged Food by Category: % Volume Growth 2019-2024
Table 30 Forecast Sales of Packaged Food by Category: % Value Growth 2019-2024

SOURCES

Summary 1 Research Sources