Vietnam Baby Food - Market Assessment and Forecasts to 2028

Vietnam Baby Food - Market Assessment and Forecasts to 2028

Summary

“Vietnam Baby Food Market Size and Share by Categories, Distribution and Forecast to 2028” is an analytical report by GlobalData which provides extensive and highly detailed current and future market trends in the Vietnamese market.

The number of live births in Vietnam declined by 1.9% during 2016-22, totaling 1.5 million in 2022. This resulted in a baby population of 4.7 million in 2022. The GDP of Vietnam grew by 7.4% in 2022, owing to recovery in economic activities, while consumer price inflation stood at 3.2%. Overall sales in value terms have increased in recent years with the sector registering a CAGR of 2.9% during 2016-22. In volume terms, sales increased in 2022 registering a marginal CAGR of 0.7% during 2016-22. Baby milks remained the largest category in value terms with over 80% of the baby food sector, followed by baby dry meals & cereals. Vinamilk and Abbott Laboratories were the top two companies in 2022. Hypermarkets & supermarkets was the leading distribution channel, accounting for over 65% of overall value sales in 2022. GlobalData estimates that the number of live births will decrease over the forecast period in Vietnam. The market for baby food in the country is expected to increase in value terms during 2022-28, registering a CAGR of 4.4%.

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.

Scope

• Value sales of the baby milks category increased from VND12.7 trillion ($576.7 million) in 2016 to VND14.8 trillion ($640.1 million) in 2022, registering a CAGR of 2.7%.
• The baby cereals & dry meals category grew from VND2.1 trillion ($93.7 million) in 2016 to VND2.6 trillion ($113.2 million) in 2022, yielding a CAGR of 4.1%.
• Value sales of the baby wet meals and other category increased from VND342.8 billion ($15.6 million) in 2016 to VND443.7 billion ($19.2 million) in 2022, at a CAGR of 4.4%.
• During 2016-22, PCE on baby finger food grew by 25.1% in current price terms.
• During 2016-22, PCE on baby drinks grew by 15.1% in current price terms.

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.