Fast Market Research recommends "Vietnam Food & Drink Report Q2 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 05/10/2013 -- We remain optimistic about the longer-term commercial potential of Vietnam, a view based on factors such as the country's favourable demographic profile, with under-30s accounting for half of the total population, and the immaturity of the food, drink and mass grocery retail sectors. Additionally, urban consumers in particular are increasingly receptive to marketing and promotional initiatives, with premiumisation thus expected to remain one of the key drivers of consumer spending. Recent economic data have reinforced our bullish outlook for the Vietnamese economy to expand at a robust pace of 7.0% in 2013. Although we expect growth to be highly uneven at the industry level, with the banking and property sectors likely to experience a weak recovery, we do foresee a strong pickup in retail sector growth as pent-up domestic demand recovers.
Headline Industry Data (local currency)
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- 2013 per capita food consumption growth = +8.0%; forecast compound annual growth rate (CAGR) to 2017 = +9.0%
- 2013 alcoholic drink value sales = +14.3%; forecast CAGR to 2017 = +14.0%
- 2013 soft drink value sales = +15.1%; forecast CAGR to 2017 = +14.2%
- 2013 mass grocery retail sales = +12.8%; forecast CAGR to 2017 = +12.7%
Key Industry Trends
Move Towards Consolidation In Soft Drinks Sector: The announcement of a tie-up in late 2012 between Suntory and PepsiCo in Vietnam looks like it could prompt further consolidation in the industry. Indeed, it has been reported that local drinks group Tanh Hiep Phat is looking for an international partner to help it maintain its competitive position. The firm's chairman, Tran Qui Thanh, suggested that The Coca-Cola Company was among the firms that had expressed an interest in a joint venture. Coca-Cola has so far not commented on the idea, but Tanh Hiep Phat's portfolio of non-carbonated beverages could certainly be an attractive proposition for the soft drink behemoth.
Vietnamese Confectionery Sector Attracts Investment: Investment in Vietnam's ingredients sector chimes with our favourable outlook for the country's food and drink market. Belgian ingredients firm Puratos, which manufactures products for the baking and confectionery sector, announced in autumn 2012 that it is to team up with fellow Belgian firm Grand-Place Holding, which produces chocolate ingredients, to set up a joint venture in the country. The two firms will hold a respective 70% and 30% stake in the new venture and have said that they will invest US$10mn in the operation over the next five years.
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