Vietnam Baby Food, 2019 is an analytical report by Global Data which provides extensive and highly detailed current and future market trends in the Vietnamese market.
The number of live births is expected to show a slight decline between 2019 and 2025. At the same time, the economy is predicted to experience healthy growth, leading to higher disposable incomes. As a result, between 2019 and 2025, sales of baby food are expected to grow by 36% at current prices, equivalent to real value growth of some 2% per year. Baby milks will continue to dominate, and should show significant growth (+34% in value), although the small meals and others category will outperform milks, doubling in value over the period. Although the baby food sector grew strongly up to 2015, since then progress has been slower, due to falls in milk consumption. Economic growth has been strong, and GDP is forecast to continue to grow at healthy levels of just over 6% per annum up to 2025.
What else does this report offer?
- Consumption data based upon a unique combination of industry research, fieldwork, market sizing work and our in-house expertise to offer extensive data about the trends and dynamics affecting the industry.
- Detailed profile of the companies operating and new companies considering entry in the industry along with their key focus product sectors.
- Market profile of the various product sectors with the key features & developments, segmentation, per capita trends and the various manufacturers & brands.
- Overview of baby food retailing with a mention of the major retailers in the country along with the distribution channel.
- Future projections considering various trends which are likely to affect the industry.
- Vietnamese consumers spend a high proportion of their total living expenditure on food. In 2016, the average family spent 47.6% of its living consumption expenditure on food, drink, and tobacco, although this is down on 2010 (52.9%). The relative wealth of urban areas is reflected in the lower proportion of income spent on food: 45.9% in 2016, compared with 49% in rural areas
- There has been a downward trend in the birth rate, as the government has sought to discourage large families.
- Milks constitute the bulk of sales (82% of retail sales in 2019), although considerably higher volume growth has been registered in the very small meals and others category. Per capita expenditure on milks rose sharply between 2013 and 2015, but fell back slightly in 2016, before increasing again from 2017 onwards, ending 2019 at a level 28% higher than 2013..
- The wet meals category is beginning to take off following the appearance of local brands at more affordable prices.
- Vietnam is a major importer of baby milks. In 2017, the last year for which figures are available, milks with a value of US$290 million were imported, originating mainly from Singapore, Thailand, and Japan.
- Hipp is dominant in wet meals and other baby food.
Reasons to Buy
- Evaluate important changes in consumer behavior and identify profitable markets and areas for product innovation.
- Analyse current and forecast behavior trends in each category to identify the best opportunities to exploit.
- Detailed understanding of consumption by individual product categories in order to align your sales and marketing efforts with the latest trends in the market.
- Investigates which categories are performing the best and how this is changing market dynamics.