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.
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.
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.
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 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.
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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This industry report originates from Passport, our Packaged Food market research database.