Vietnam Dairy & Soy Food – Market Assessment and Forecasts to 2025
Powered by 
All the vital news, analysis, and commentary curated by our industry experts.
The Vietnam dairy & soy food market was valued at $7.1 billion in 2020 and is projected to grow at a CAGR of more than 8% during the forecast period 2021-2025. In 2020, milk was the largest category in the market; however, the yogurt category is forecast to register the fastest value growth. The yogurt category is forecasted to be the fastest-growing category in volume terms at a CAGR of more than 12%. In 2020, convenience stores were the largest distribution channel in the Vietnam dairy & soy food sector, followed by hypermarkets & supermarkets, and food & drinks specialists.
Overview of dairy & soy food market in Vietnam
For more insights on this report, download a free report sample
What are the market dynamics in the dairy & soy food market in Vietnam?
Vietnam accounted for over 3% value share and 3% volume share in the Asia-Pacific dairy & soy food sector in 2020. The country is expected to register overall value growth of over 40% during 2020-2025, and overall volume growth of more than 32% during the same period. Vietnam ranks last in terms of fragmentation when compared to the leading countries in the region, with the top five companies accounting for over 71% share in 2020. In 2020, Vietnam had higher per capita dairy and soy food consumption and spending than the rest of the region. Milk was the most popular category in 2020, however, the yogurt category is forecast to register the fastest value growth at a CAGR of more than 16% from 2020 to 2025.
What are the different segments in the dairy & soy food market in Vietnam?
The different segments of dairy & soy food in Vietnam are butter & spreadable fats, cheese, cream, dairy-based & soy-based desserts, drinkable yogurt, grain, nut, rice, seed milk alternatives, milk, soymilk & soy drinks, and yogurt. Milk led the Vietnamese dairy & soy food sector in terms of per capita consumption in 2020, followed by drinkable yogurt and soymilk & soy drinks respectively. Furthermore, the per capita consumption of grain, nut, rice, seed milk alternatives category was higher in Vietnam than both the regional and global averages in 2020. However, per capita consumption of milk and yogurt category was higher in Vietnam compared to the regional average but lower than the global average in the same year. Furthermore, per capita consumption for butter & spreadable fats, cheese, cream, and dairy-based & soy-based desserts categories were lower in Vietnam compared to both the global and regional averages.
Vietnamese dairy & soy food market, by segments
For more segment insights, download a free report sample
What are the key channels in dairy & soy food in Vietnam?
The key distribution channels in the dairy & soy food market in Vietnam are hypermarkets & supermarkets, convenience stores, food & drinks specialists, e-retailers, and others. Convenience stores were the leading distribution channel in the Vietnam dairy & soy food sector, with a value share of more than 38% in 2020.
Vietnam dairy & soy food market, by key distribution channels
For more insights, download a free report sample
Who are the key players in the dairy & soy food market in Vietnam?
The leading key players in the market are Vietnam Dairy Products Joint Stock Company, Royal FrieslandCampina N.V., TH Food Chain Joint Stock Company, Quang Ngai Sugar Joint Stock Company, and International Dairy JSC (IDP).
Vietnam dairy & soy food market, by key players
To know more about key players, download a free report sample
Market report scope
| Market size (Year – 2020) | $7.1 billion |
| Growth rate – By Value | CAGR of >8% from 2021-2025 |
| The base year for estimation | 2020 |
| Forecast period | 2021-2025 |
| Distribution channels | Hypermarkets & Supermarkets, Convenience Stores, Food & Drinks Specialists, and E-Retailers |
| Segments | Butter & Spreadable Fats, Cheese, Cream, Dairy-Based & Soy-Based Desserts, Drinkable Yogurt, Grain, Nut, Rice, Seed Milk Alternatives, Milk, Soymilk & Soy Drinks, and Yogurt |
| Key players | Vietnam Dairy Products Joint Stock Company, Royal FrieslandCampina N.V., TH Food Chain Joint Stock Company, Quang Ngai Sugar Joint Stock Company and International Dairy JSC (IDP) |
Scope
- Per capita consumption and per capita expenditure of dairy & soy food was higher in Vietnam than the regional level in 2020
- Vietnamese consumers prefer premium products in the dairy & soy food sector
- The per capita consumption of milk was higher than other dairy & soy food categories in 2020
- Vietnam Dairy Products Joint Stock Company held the highest value share, in the Vietnamese dairy & soy food sector in 2020
Reasons to Buy
- Identify high potential categories and explore further market opportunities based on detailed value and volume analysis
- Existing and new players can analyze key distribution channels to identify and evaluate trends and opportunities
- Gain an understanding of the total competitive landscape based on detailed company share analysis to plan effective market positioning
- Our team of analysts has placed a significant emphasis on changes expected in the market that will provide a clear picture of the opportunities that can be tapped over the next five years, resulting in revenue expansion
- The packaging analysis report helps manufacturers, in identifying the most commonly used packaging materials in the sector
- Analysis of key macro-economic indicators such as real GDP, nominal GDP, consumer price index, household consumption expenditure, population (by age group, gender, rural-urban split, and employed people and unemployment rate. It also includes an economic summary of the country along with the labor market and demographic trends.
Royal FrieslandCampina N.V.
TH Food Chain Joint Stock Company
Quang Ngai Sugar Joint Stock Company
INTERNATIONAL DAIRY JSC (IDP)
Fonterra Co-Operative Group
Table of Contents
Table
Figures
Frequently asked questions
-
What is the market size of Vietnam’s dairy & soy food market in 2020?
Vietnam’s dairy & soy food market was valued at $7.1 billion in 2020.
-
What is the growth rate of Vietnam’s dairy & soy food market?
The growth rate of Vietnam’s dairy & soy food market is expected to grow at a compound annual growth rate of more than 8% during the forecast period.
-
What are the key channels in the Vietnam dairy & soy food market?
The key distribution channels in the dairy & soy food market in Vietnam are hypermarkets & supermarkets, convenience stores, food & drinks specialists, and e-retailers.
-
What are the key segments in the Vietnam dairy & soy food market?
The key segments in the market are butter & spreadable fats, cheese, cream, dairy-based & soy-based desserts, drinkable yogurt, grain, nut, rice, seed milk alternatives, milk, soymilk & soy drinks, and yogurt.
-
Who are the key players in the Vietnam dairy & soy food market?
Vietnam Dairy Products Joint Stock Company, Royal FrieslandCampina N.V., TH Food Chain Joint Stock Company, Quang Ngai Sugar Joint Stock Company, and International Dairy JSC (IDP) are the key players in the Vietnam dairy & soy food market.
Get in touch to find out about multi-purchase discounts
reportstore@globaldata.com
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.
Sample Report
Vietnam Dairy & Soy Food – Market Assessment and Forecasts to 2025 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:
- Assess the relevance of the report
- Evaluate the quality of the report
- Justify the cost
Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.
