Food processing is a significant sub-sector within the thriving manufacturing industry of Vietnam. In 2021, food and beverage manufacturing contributed 17 billion U.S. dollars to the gross domestic product (GDP) of the country, while employing three million people. At the same time, Vietnamese food product manufacturing has been consistently recording growth in recent years and is yet to show any sign of slowing down.
Some main processed food products in Vietnam
The growth of the food processing industry in Vietnam can be attributed to both the domestic and export market. For instance, the dairy industry in the country has been booming, as suggested by both the retail sales value of all dairy products as well as the variety of offerings due to increasing domestic consumption. As a result, there has been an increase in the production volume of dairy categories, such as fresh milk and powder milk, to meet the local demand in Vietnam.
Processed fish and fishery products, among other exported goods, have also contributed significantly to the growing food manufacturing sector in Vietnam. In 2020, the country became the fourth largest exporter of seafood worldwide, with an export value of 8.1 billion U.S. dollars. On the other hand, the revenue of the processed fish and seafood market in Vietnam only accounted for a modest fraction of the total fishery exports. By 2030, the government aims to make Vietnam the world’s leading seafood processing center by developing an efficient and sustainable processing industry. This should lead to a higher export ratio of processed products and an increased export value of made-in-Vietnam seafood in the future.
Leading Vietnamese food manufacturers
Although foreign labels, such as Ajinomoto and Maggi, have gained a foothold in the Vietnamese food and beverage market, several domestic brands have made their way into consumers’ baskets. Vinamilk was the leading Vietnamese food manufacturer based on market capitalization in 2020, and it has been holding the largest market share within the dairy industry in the past years. Other dominant players are the alcoholic beverage producer Saigon Beer, and Masan Group, whose product portfolio includes fresh meat, condiments, and other food items. As Vietnamese consumers have been shifting towards convenience products in recent years, the food processing industry was expected to benefit from this consumer trend.
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In the following 5 chapters, you will quickly find the 30 most important statistics relating to "Food processing in Vietnam".