The FMCG market landscape in VietnamOne of the key drivers of the FMCG market expansion in Vietnam is urbanization. As more people move to cities, their purchasing power increases, leading to higher demand for FMCG products. Additionally, the growing number of modern retail channels, such as supermarkets, hypermarkets, and convenience stores, has made FMCG products more accessible to consumers across the country. Although expenditure on FMCG products among the urban population has been much higher than that of their rural counterparts, the gap is narrowing fast. Despite the differences in spending patterns, personal care, home care, and beverages have been the FMCG categories with the highest value growth rate in recent years, regardless of the degree of urbanization.
The FMCG market in Vietnam is highly competitive, with both local and international players striving for a share of the market. International consumer goods companies such as the Korean Masan Group, Japanese Ajinomoto, and the multinational Unilever own the majority of the most chosen FMCG brands in Vietnam. Meanwhile, several Vietnamese corporations have also secured their positions among the leading consumer goods brands across the country. For instance, despite the entrance of many foreign brands into the market, the local company Vinamilk dominates the country’s dairy industry, holding almost half of the market share.