Yoghurt is predicted to record further stable growth during 2021, with the product continuing to benefit not only from its versatility in terms of cooking and snacking, but also its positive perception amongst local consumers in terms of protein content and functionality in terms of aiding digestion and boosting the immune system. The pandemic has only served to heighten awareness of, and demand for, products that offer this functionality.
Drinking yoghurt is predicted to continue to record the most dynamic growth rates in 2021 in a continuation of a trend emerging over the second half of the review period. Not only does drinking yoghurt offer a convenient format in terms of consumption, but the perception that this product contains probiotics as offered by the likes of Yakult or Vinamilk’s Probi, can help them to better fight infection, attitudes which are reinforced by various marketing campaigns which highlight that the products can support gut health and therefore may enhance the body’s immune system, a factor which has been heightened during the pandemic.
Major dairy producer Vietnam Dairy Products JSC (Vinamilk) is set to retain its overall leadership of yoghurt in 2021, where it dominates plain yoghurt and flavoured yoghurt with its brands Vinamilk, in addition to Probi and Susu, which have all continued to record strong value sales, supported by the player’s ability to maintain strong production levels during the pandemic. While traditionally, Vinamilk produces the spoonable format of yoghurt, it has continued to expand its line of drinking yoghurt in line with this category’s dynamic growth and now offers Yomilk, Probi with live yeast and Susu, where it offers a range of packaging formats and sizes such as four 110ml boxes of Susu grape apple drinking yoghurt in one pack or six bottles of Susu orange-flavoured drinking yoghurt in one pack for a special discount.
Demand for yoghurt in Vietnam will remain positive, although retail growth will experience a gradual slowdown in volume terms over the course of the forecast period, in line with growing demand through foodservice (driven by plain yoghurt) once the threat of the virus wanes and consumers start to spend longer periods of time outside of the home. Nevertheless, yoghurt continues to appeal to local consumers due to its versatility in terms of cooking and snacking, and suitability in terms of age from 1-year-old babies to through to adults.
In line with heightened health awareness as a result of the pandemic, drinking yoghurt, driven by probiotic and live culture variants in the absence of sour milk products, is likely to continue to record early dynamic growth over the first half of the forecast period, although demand is set to gradually normalise towards 2026. Therefore, while players are likely to continue to focus their marketing on highlighting the immune-boosting attributes of their probiotic options, supported by various media articles and recommendations by nutritionists, drinking yoghurt will also continue to appeal to consumers for its on-the-go consumption positioning as a suitable snack outside of the home when offered as single shots, as well as being positioned for beauty care.
The increasing penetration of chilled cabinets in modern grocery retailers will continue to support the latter channel’s popularity in Vietnam, expanding the reach of fresh and probiotic variants. Modern grocery retailers tend to have larger refrigerated areas, which allow them to hold greater quantities of fresh yoghurt, particularly live culture formats which have increasingly appealed to consumers during the pandemic due to their perceived immune-boosting qualities.
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Understand the latest market trends and future growth opportunities for the Yoghurt and Sour Milk Drinks industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of sour milk products and yoghurt. Note: Plant-based yoghurt and sour milk products should be excluded from this category and tracked under plant-based yoghurt.See All of Our Definitions
This report originates from Passport, our Yoghurt and Sour Milk Drinks research and analysis database.
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