Vietnam Baby Food Market Size by Categories, Distribution Channel, Market Share and Forecast, 2022-2027

Vietnam Baby Food Market Size by Categories, Distribution Channel, Market Share and Forecast, 2022-2027

Summary

“Vietnam Baby Food Market Size by Categories, Distribution Channel, Market Share and Forecast, 2022-2027” is an analytical report by GlobalData which provides extensive and highly detailed current and future market trends in the Norwegian market.

The total number of live births in Vietnam declined sharply by 10.3% during 2009-2021. This resulted in a baby population of 4.1 million in 2021, a drop of 8.7% from 2009. While, the crude birth rates fell, the total fertility rate remained unchanged at 2.00, during the same period. The GDP fell by 2.3% in 2021 primarily owing to the impact of the COVID-19 pandemic and consumer price inflation stood at 2.1%. Overall growth in value terms has increased in recent years with the sector registering a CAGR of 1.3% during 2015-2021. However, volume sales were down in 2021, with the sector contracting at a CAGR of 0.6% during 2015-2021. Baby milks remained easily the largest category in value terms followed by cereals & dry meals with a 14.4% share in 2021. Vinamilk, Abbott, Royal Friesl and Campina, and Mead Johnson (Reckitt Benckiser) were the top three companies in 2021. Vinamilk retained the top spot in value and volume terms during 2015-2021 and remained the leader in all the categories except baby finger foods and drinks. Hypermarkets & supermarkets remained the leading distribution channel, accounting for two-thirds of overall value sales in 2021. GlobalData estimates that the number of live births will continue to decline over the forecast period in Vietnam. Based on these assumptions, the market for baby food in Vietnam is expected to grow in both value and volume terms, registering a value CAGR of 4.7% and a volume CAGR of 0.8% during 2021-2027.

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.

• The baby milks category grew from VND13,173 billion ($607.1 million) in 2015 to VND13,999.3 billion ($597.1 million) in 2021, registering a CAGR of 1% during the period.
• In volume terms, the baby cereals & dry meals category recorded a review period CAGR of 0.2%, increasing from 7.82 million kg in 2015 to 7.9 million kg in 2021.
• The baby wet meals category reflected a CAGR of 3.6% in value terms and a CAGR of 2.5% in volume terms during 2015-2021.
• The baby finger foods category grew from VND72.6 billion ($3.3 million) in 2015 to VND95.3 billion ($4.1 million) in 2021, yielding a CAGR of 4.6%.
• The baby drinks category fell from 0.05 million kg in 2015 to 0.049 million kg in 2021, declining at a negative CAGR of 1% during the review period.

• 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.