Vietnam Meat Market Assessment by Categories, Distribution, Key Players and Forecasts to 2028

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Published: December 03, 2024 Report Code: GDCG240093CS-ST

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Vietnam Meat Market Report Overview

The Vietnam meat market was valued at VND251.2 trillion ($10.6 billion) in 2023 and will grow at a CAGR of more than 3% during 2023-2028. Per capita expenditure of meat was higher in Vietnam than at the regional level in 2023.

Vietnam Meat Market Outlook, 2023-2028 (VND Trillion)

Vietnam Meat Market Outlook, 2023-2028 (VND Trillion)

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The Vietnam meat market research report provides a comprehensive overview of the market including insights into categories, distribution channels, and key competitors. Additionally, the per capita consumption and expenditure of meat in Vietnam is also compared to Asia-Pacific and global levels.  This report brings together multiple data sources to provide a comprehensive overview of the meat sector in Vietnam. The Vietnam meat market analysis report also provides an outlook on macroeconomic indicators in the country, with a detailed summary of the economy, labor market, and demographics.

Market Size (2023) VND251.2 trillion ($10.6 billion)
CAGR (2023-2028) >3%
Historic Period 2018-2022
Forecast Period 2023-2028
Key Categories ·       Chilled Raw Packaged Meat – Whole Cuts

·       Ambient Meat

·       Chilled Raw Packaged Meat – Processed

·       Cooked Meats – Packaged

·       Cooked Meats – Counter

·       Fresh Meat (Counter)

·       Frozen Meat
Key Distribution Channels ·       Food & Drinks Specialists

·       Hypermarkets & Supermarkets

·       Convenience Stores

·       E-Retailers
Leading Companies ·       Danish Crown Foods A/S

·       Vissan Co Ltd

·       St. Helen’s Meat Packers Limited

·       Charoen Pokphand Group

·       Halong Canned Food Jsc
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Vietnam Meat Market Segmentation by Categories

Fresh meat (counter) dominated the Vietnam meat market by both value and volume in 2023

The key categories in the Vietnam meat market are ambient meat, chilled raw packaged meat – processed, chilled raw packaged meat – whole cuts, cooked meats – packaged, cooked meats – counter, fresh meat (counter), and frozen meat. The chilled raw packaged meat-processed category is forecast to register the fastest value growth. Moreover, the frozen meat category will gain the largest market share in volume terms during 2023-2028.

Vietnam Meat Market Analysis by Categories, 2023-2028 (%)

Vietnam Meat Market Analysis by Categories, 2023-2028 (%)

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Vietnam Meat Market Segmentation by Distribution Channels

A few of the key distribution channels in the Vietnam meat market are hypermarkets & supermarkets, convenience stores, food & drinks specialists, and e-retailers. In 2023, food & drinks specialists accounted for the highest Vietnamese meat market distribution channel share.

Vietnam Meat Market Analysis by Distribution Channels, 2023 (%)

Vietnam Meat Market Analysis by Distribution Channels, 2023 (%)

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Vietnam Meat Market - Competitive Landscape

In 2023, Danish Crown Foods A/S was the leading company in the Vietnam meat sector by value

A few leading companies in the Vietnam meat market are:

  • Danish Crown Foods A/S
  • Vissan Co Ltd
  • Helen’s Meat Packers Limited
  • Charoen Pokphand Group
  • Halong Canned Food Jsc

Danish Crown Foods A/S offers products in the ambient meat and cooked meats – packaged categories. Tulip is one of the brands that Danish Crown Foods A/S owns.

Vietnam Meat Market Analysis by Companies, 2023 (%)

Vietnam Meat Market Analysis by Companies, 2023 (%)

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Segments Covered in the Report

Vietnam Meat Market Category Outlook (Value, VND Trillion, 2018-2028)

  • Chilled Raw Packaged Meat – Whole Cuts
  • Ambient Meat
  • Chilled Raw Packaged Meat – Processed
  • Cooked Meats – Packaged
  • Cooked Meats – Counter
  • Fresh Meat (Counter)
  • Frozen Meat

Vietnam Meat Market Distribution Channel Outlook (Value, VND Trillion, 2018-2028)

  • Food & Drinks Specialists
  • Hypermarkets & Supermarkets
  • Convenience Stores
  • E-Retailers

Scope

Per capita consumption of meat in the Vietnam was higher than regional and global levels in 2023.

The per capita consumption of fresh meat (counter) was higher in the Vietnam compared to other meat categories in 2023

Food & drinks specialists was the leading distribution channel in the Vietnamese meat sector, with a value share of 73.7% in 2023

Key Highlights

  • Per capita consumption of meat in Vietnam was higher than regional and global levels in 2023.

  • The per capita consumption of fresh meat (counter) was higher in Vietnam compared to other meat categories in 2023.

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 report provides an analysis of key macroeconomic indicators such as real GDP, nominal GDP, consumer price index, household consumption expenditure, and 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.

DANISH CROWN FOODS A/S
Vissan Co Ltd
St. Helen's Meat Packers Limited
Charoen Pokphand Group
HaLong Canned food JSC

Table of Contents

Report Scope

Executive Summary

Market Environment

Value and Volume Share of Vietnam in the Global and Asia-Pacific Markets

Growth Analysis of Vietnam Compared to Other Leading Countries in the Asia-Pacific Market

PCC and PCE of Vietnam Compared to the Global and Asia-Pacific Markets

Sector Deep Dive

Vietnam Meat Sector Snapshot

Market Size Analysis

Cross-Category Comparison – Value Growth Analysis and Category Winners and Losers

Cross-Category Comparison – Volume Growth Analysis and Category Winners and Losers

Category Deep Dive

Per Capita Consumption Analysis by Category

Market Size Analysis – Category: Ambient Meat

Segment-level Analysis (In Value Terms) – Ambient Meat

Segment-level Analysis (In Volume Terms) – Ambient Meat

Market Size Analysis – Category: Chilled Raw Packaged Meat – Processed

Segment-level Analysis (In Value Terms) – Chilled Raw Packaged Meat – Processed

Segment-level Analysis (In Volume Terms) – Chilled Raw Packaged Meat – Processed

Market Size Analysis – Category: Chilled Raw Packaged Meat – Whole Cuts

Segment-level Analysis (In Value Terms) – Chilled Raw Packaged Meat – Whole Cuts

Segment-level Analysis (In Volume Terms) – Chilled Raw Packaged Meat – Whole Cuts

Market Size Analysis – Category: Cooked Meats – Counter

Market Size Analysis – Category: Cooked Meats – Packaged

Segment-level Analysis (In Value Terms) – Cooked Meats – Packaged

Segment-level Analysis (In Volume Terms) – Cooked Meats – Packaged

Market Size Analysis – Category: Fresh Meat (Counter)

Segment-level Analysis (In Value Terms) – Fresh Meat (Counter)

Segment-level Analysis (In Volume Terms) – Fresh Meat (Counter)

Market Size Analysis – Category: Frozen Meat

Segment-level Analysis (In Value Terms) – Frozen Meat

Segment-level Analysis (In Volume Terms) – Frozen Meat

Distribution Analysis

Channel Share Analysis

Competitive Environment

Leading Companies – Value and Volume Shares

Brand Share Analysis of Top Five Companies

Brand Share Analysis of Top Five Companies by Category

Private Label Share Analysis by Category

Growth of Private Labels Compared to Branded Products

Degree of Consolidation/Fragmentation by Category

Macroeconomic Analysis

GDP Growth and Inflation

Population Growth

Labor Market Trend

Economic Summary, Labor Market Trends, and Demographic Trends

Vietnam Risk Index (GCRI) 2024

Vietnam Risk Analysis – Compared to Global and Asia-Pacific Markets

Methodology

Definitions

Appendix

Table

Leading value categories

Leading categories (volume), 2023

Cross-category comparison – by value (2018–28)

Cross-category comparison – by volume (2018–28)

Per capita consumption (by category), vietnam compared to asia-pacific and global levels (in units), 2023

Segment-level analysis (in value terms) – ambient meat

Segment-level analysis (in volume terms) – ambient meat

Segment-level analysis (in value terms) – chilled raw packaged meat – processed

Segment-level analysis (in volume terms) – chilled raw packaged meat – processed

Segment-level analysis (in value terms) – chilled raw packaged meat – whole cuts

Segment-level analysis (in volume terms) – chilled raw packaged meat – whole cuts

Segment-level analysis (in value terms) – cooked meats – packaged

Segment-level analysis (in volume terms) – cooked meats – packaged

Segment-level analysis (in value terms) – fresh meat (counter)

Segment-level analysis (in volume terms) – fresh meat (counter)

Segment-level analysis (in value terms) – fresh meat (counter)

Segment-level analysis (in volume terms) – fresh meat (counter)

Change in distribution share, 2018–2023

Top five companies share by brand (in value terms) in the meat sector, 2023

Brand shares of top five companies (in value terms) by category, 2023

Performance overview (score: 1–100)

Category data, by segment

Per capita consumption (in units), 2018–28

Per capita expenditure ($), 2018–28

Meat sales distribution in Vietnam – by category (VND million), 2023

Brand share (in value terms) in the meat sector, 2023

Brand share (in value terms) in the meat sector, by category, 2023

Real GDP and annual growth (%), 2018–28

Nominal GDP and annual growth (%), 2018–28

Consumer price inflation (%), 2018–28

Employed people and unemployment rate (%), 2018–28

Nominal household final consumption expenditure and annual growth (%), 2018–28

Population and annual growth (%), 2018–28

Population by age group (%)

Population by gender (%)

Population by rural-urban split (%)

Figures

Value and volume shares of Vietnam in the global and Asia-Pacific meat sector, 2023 –2028

Vietnam compared to the other top countries in terms of market share, growth, and the competitive landscape

PCC comparison – Vietnam, Asia-Pacific, and global, 2018–28

PCE comparison – Vietnam Asia-Pacific, and global, 2018–28

Market size and growth analysis by value and volume, meat sector, 2018–28

Cross-category comparison – value growth analysis and category winners and losers

Cross-category comparison – volume growth analysis and category winners and losers

Market size and growth analysis by value and volume, ambient meat category, 2018–28

Market size and growth analysis by value and volume, chilled raw packaged meat – processed, 2018–28

Market size and growth analysis by value and volume, chilled raw packaged meat – whole cuts category, 2018–28

Market size and growth analysis by value and volume, cooked meats – counter category, 2018–28

Market size and growth analysis by value and volume, cooked meats – packaged, category, 2018–28

Market size and growth analysis by value and volume, fresh meat (counter), category, 2018–28

Market size and growth analysis by value and volume, fresh meat (counter), category, 2018–28

Share of key distribution channels (in value terms) – meat, 2023

Key distribution channel share by category (in value terms), 2023

Leading companies (in value and volume terms) in the meat sector, 2023

Private label penetration by category (in value terms), 2023

Growth analysis, private label and brands, 2018–28

Category-wise consolidation/fragmentation (in value terms) – meat , 2023

Real GDP (VND billion) and annual growth (%)

Nominal GDP (VND billion) and annual growth (%)

Consumer price inflation (%)

Nominal household final consumption expenditure growth (%) in VND terms

Population (million) and annual growth (%)

Population by age group (%)

Population by gender (%)

Population by rural-urban split (%)

Employed people (million) and unemployment rate (%)

Economic summary, labor market trends, and demographic trends

Five lowest-risk nations in GCRI Q2 2024

Five highest-risk nations in GCRI Q2 2024

Vietnam’s performance in country risk analysis in comparison to Asia-pacific and the world

List of 108 countries analyzed to identify the high-potential countries in different regions

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