Executive Summary

Aug 2019
PROSPECTS
Yoghurt set to see unabated growth as consumers increasingly recognise its benefits

Retail value and volume growth of yoghurt continued to rise by double digits in Vietnam in 2019, as it had throughout the review period. Vietnamese consumers continue to believe that consumption of yoghurt brings about diverse benefits, acting as a source of nutrition, as a food contributing to external beauty and as an aid to digestion.

Vinamilk reinforces perception that yoghurt has many uses for beauty care

As the Vietnamese economy is stably growing, average income has improved, and most essential needs such as for food and accommodation can now be met, many consumers can better afford to act on their interest in beauty and health. In terms of yoghurt, Vietnamese consumers already believe that it can be used for beauty care; moreover, recent efforts by the leading yoghurt player Vinamilk have done much to reinforce this perception.

Yoghurt’s versatility inspires cooks and consumers to invent new serving methods

Yoghurt is so widely available, affordable and enjoyed in Vietnam that consumers as well as foodservice operators have been finding inventive new ways to enjoy and serve yoghurt in – or on top of – food. Amongst the many snacks and dishes utilising yoghurt that have been observed in Vietnam are yoghurt with a topping, such as frozen yoghurt with fruit, chocolate, or crushed nuts; and yoghurt as a topping, such as cupcakes with yoghurt and chocolate or fruit topping and donuts with a yoghurt glaze.

COMPETITIVE LANDSCAPE
Vinamilk garnishes reputation for innovation with sticky rice/yoghurt blend

Vinamilk continued to hold the dominant share within yoghurt and sour milk drinks overall in 2019 on the strength of its product innovation, strong distribution network and strong investment in marketing activities including television commercials and in-store promotion. As its products are widely distributed nationwide, Vinamilk receives positive feedback from consumers and retailers.

FrieslandCampina, TH Food Chain and other players encroach on Vinamilk’s territory

While remaining the dominant player within yoghurt in 2019, Vinamilk faced tougher competition, particularly from FrieslandCampina and TH Food Chain within the drinking yoghurt and plain yoghurt landscape. Nutifood Nutrition Food also gained value share in plain yoghurt at Vinamilk’s expense over the year.

Popularity of drinking yoghurt reflected in a plethora of new product offers

Drinking yoghurt saw the strongest value growth within yoghurt and sour milk products again in 2019, and all the major players saw double-digit value growth in this category over the year. Not only are Vietnamese increasingly demanding drinking yoghurt for its on-the-go convenience but they also are responding to well to the plethora of new product offers that players such as FrieslandCampina Vietnam (with brands Yomost and Fristi), Vinamilk (with brands Susu and Probi) and TH Food Chain (with TH True) put forth.

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Overview

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

The Yoghurt and Sour Milk Products 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 Yoghurt and Sour Milk Products in Vietnam?
  • What are the major brands in Vietnam?
  • Which variety of yoghurt is performing better – spoonable or drinking?
  • In the wake of recent controversies, what does the future hold for functional probiotic products?

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.

Yoghurt and Sour Milk Products in Vietnam - Category analysis

HEADLINES

PROSPECTS

Yoghurt set to see unabated growth as consumers increasingly recognise its benefits
Vinamilk reinforces perception that yoghurt has many uses for beauty care
Yoghurt’s versatility inspires cooks and consumers to invent new serving methods

COMPETITIVE LANDSCAPE

Vinamilk garnishes reputation for innovation with sticky rice/yoghurt blend
FrieslandCampina, TH Food Chain and other players encroach on Vinamilk’s territory
Popularity of drinking yoghurt reflected in a plethora of new product offers

CATEGORY DATA

Table 1 Sales of Yoghurt and Sour Milk Products by Category: Volume 2014-2019
Table 2 Sales of Yoghurt and Sour Milk Products by Category: Value 2014-2019
Table 3 Sales of Yoghurt and Sour Milk Products by Category: % Volume Growth 2014-2019
Table 4 Sales of Yoghurt and Sour Milk Products by Category: % Value Growth 2014-2019
Table 5 Sales of Flavoured Yoghurt by Flavour: Rankings 2014-2019
Table 6 NBO Company Shares of Yoghurt and Sour Milk Products: % Value 2015-2019
Table 7 LBN Brand Shares of Yoghurt and Sour Milk Products: % Value 2016-2019
Table 8 Distribution of Yoghurt and Sour Milk Products by Format: % Value 2014-2019
Table 9 Forecast Sales of Yoghurt and Sour Milk Products by Category: Volume 2019-2024
Table 10 Forecast Sales of Yoghurt and Sour Milk Products by Category: Value 2019-2024
Table 11 Forecast Sales of Yoghurt and Sour Milk Products by Category: % Volume Growth 2019-2024
Table 12 Forecast Sales of Yoghurt and Sour Milk Products 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