Snacks in Vietnamfull Market Report
Snacks in Vietnamfull Market Report
Snacks in Vietnamfull Market Report
Snacks in Vietnam
Euromonitor International
June 2023
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© Euromonitor International
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© Euromonitor International
Table 78 Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category: %
Volume Growth 2018-2023 ........................................................................ 59
Table 79 Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category: %
Value Growth 2018-2023 ........................................................................... 60
Table 80 NBO Company Shares of Sweet Biscuits, Snack Bars and Fruit
Snacks: % Value 2019-2023 ...................................................................... 60
Table 81 LBN Brand Shares of Sweet Biscuits, Snack Bars and Fruit Snacks:
% Value 2020-2023.................................................................................... 61
Table 82 NBO Company Shares of Sweet Biscuits: % Value 2019-2023 ................. 62
Table 83 LBN Brand Shares of Sweet Biscuits: % Value 2020-2023 ........................ 62
Table 84 NBO Company Shares of Fruit Snacks: % Value 2019-2023..................... 63
Table 85 LBN Brand Shares of Fruit Snacks: % Value 2020-2023 ........................... 63
Table 86 Distribution of Sweet Biscuits, Snack Bars and Fruit Snacks by
Format: % Value 2018-2023 ...................................................................... 64
Table 87 Distribution of Sweet Biscuits by Format: % Value 2018-2023 ................... 64
Table 88 Distribution of Fruit Snacks by Format: % Value 2018-2023 ...................... 65
Table 89 Forecast Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by
Category: Volume 2023-2028 .................................................................... 66
Table 90 Forecast Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by
Category: Value 2023-2028 ....................................................................... 66
Table 91 Forecast Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by
Category: % Volume Growth 2023-2028.................................................... 67
Table 92 Forecast Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by
Category: % Value Growth 2023-2028....................................................... 67
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Competitive Landscape
The overall snacks industry is highly fragmented, with multinational player Mondelez Kinh Do
being only player to hold a double-digit share of retail value sales in 2023. The player benefits
from a strong product portfolio, with key brands including Cosy in sweet biscuits, Toblerone in
chocolate confectionery, and AFC in savoury snacks. However, the company faces tough
competition, both from international players (such as Orion Food Vina and Mayora) and local
players (Bien Hoa Confectionery Corp (Bibica) and Kido Group).
Second-ranked Orion performed particularly well over the review period, having steadily
narrowed the gap between itself and leader Mondelez Kinh Do. This was supported by a host of
new product launches, including An rice snacks (in 2019), Gummies (in 2020) and Boom Jelly
(in 2021), all of which were supported by aggressive marketing activities.
Local brands such as Bibica, Haiha or Kinh Do continued to find favour with Vietnamese
consumers in 2023, due to their affordable price, given the high rate of inflation. Other factors
such improving product quality, familiarity, the ability to cater for local tastes, and growing levels
of patriotism also helped to maintain the profile of domestic brands vis-à-vis their international
counterparts. However, in general, international companies such as Orion, Mondelez, Liwayway
and Mayora continued to dominate the snack market in 2023, due to their strong investment in
marketing, wide range of products and broad distribution network across the country.
Channel developments
Small local grocers remained the dominant channel for distribution of snacks in 2023.
However, such outlets have steadily been losing share over the review period, with modern
grocery retailing channels (like supermarkets, hypermarket, and convenience stores) seeing
gains. This is because urbanisation is accelerating in Vietnam, with a city-dwelling lifestyle
becoming more popular. Supermarkets and hypermarkets are increasingly preferred over wet
markets and street stalls by younger generations due to the perceived better product quality
control in these modern channels. In addition, families are increasingly treating shopping
together in big supermarkets or shopping centres as a weekend leisure activity. Product ranges
in supermarkets and hypermarkets are also wide and plentiful, providing options for all members
of the family, while lending themselves better to bulk buying.
E-commerce managed to register a slight increase in its overall share of retail value sales in
2023, having experienced a decline in the previous year. The channel grew rapidly during the
first half of the review period, driven by factors such as increasing internet penetration, the
convenience of online shopping and regular discounting events. However, while some
Vietnamese consumers accustomed to shopping via e-commerce are likely to keep this habit in
the future, it is unlikely that snacks will become truly popular online, as the time delay involved in
the delivery of snacks will prevent the instant satisfaction that can be enjoyed if purchasing in-
store.
Foodservice volumes saw a second year of rapid growth in volume terms in 2023, following
the easing of pandemic-related restrictions, which saw an increase in travel occasions, such as
family picnics. The increasing number of international tourists travelling in Vietnam also
contributed to the growth of the foodservice segment, especially in categories such as ice
cream. However, foodservice sales of snacks palled in comparison to retail volumes.
© Euromonitor International
becoming more health conscious, new product developments are likely to centre around “better
for you” offerings, with snacks with a lower sugar content, natural ingredients, functional benefits
or which are fortified with vitamins and minerals expected to be the focus of manufacturer
attention. Players are also expected to launch new flavours, in order to capture consumers’
attention and provide them with more exotic taste experiences.
The forecast period is also set to see the leading players catering to the strongly emerging
demand for premium products, as the consumer audience for these types of products continues
to widen. In particular, affluent urban professionals are more likely to be interested in
sophisticated, high-quality products, with manufacturers likely to favour them too, as they are
generally more profitable than standard variants.
Small local grocers (which is comprised of wet markets, independent groceries, and street
stalls) is expected to remain the dominant channel for sales of snacks in Vietnam, thanks to its
convenience and widespread availability across both urban and rural areas. Most consumers
consider small local grocers to be a quick and easy daily shopping solution that also offers
products at better prices than can be gained through alternate, and especially modern,
channels.
Meanwhile, in terms of the manufacturer landscape, local players are expected to increase
their competitiveness during the forecast period. Firstly, thanks to the international integration of
business, local players can more easily approach food technology and packaging companies to
gain better deals and more fairly compete with global players. Secondly, local players will be
able to leverage the national sentiment of consumers who are increasingly interested in
purchasing domestic products to support local jobs, businesses, and the economy. Finally, local
players have an advantage in terms of designing snacks that meet local tastes and preferences
as well as a plentiful source of raw materials for production, especially in fruit snacks or nuts.
MARKET DATA
Table 1 Sales of Snacks by Category: Volume 2018-2023
VND billion
2018 2019 2020 2021 2022 2023
© Euromonitor International
% volume growth
2022/23 2018-23 CAGR 2018/23 Total
Sweet Biscuits, Snack Bars and Fruit Snacks 0.8 3.7 20.0
Savoury Snacks 2.1 5.0 27.9
Ice Cream 3.4 4.8 26.2
Confectionery 2.6 4.0 21.7
Snacks - - -
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Sweet Biscuits, Snack Bars and Fruit Snacks 7.6 10.6 65.2
Savoury Snacks 7.8 10.2 62.7
Ice Cream 8.2 8.9 52.9
Confectionery 6.8 6.9 39.6
Snacks 7.5 9.2 55.4
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
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© Euromonitor International
Huu Nghi Huu Nghi Food JSC 1.1 1.1 1.2 1.2
Cool Air (Mars Inc) Wrigley Vietnam Ltd 1.4 1.3 1.2 1.2
Ritz (Mondelez Mondelez Kinh Do Vietnam 1.2 1.2 1.2 1.2
International Inc) JSC
Oreo (Mondelez Mondelez Kinh Do Vietnam 1.1 1.1 1.1 1.1
International Inc) JSC
An (Orion Group) Orion Food Vina Co Ltd 0.6 0.8 0.9 0.9
Happydent (Perfetti Perfetti Van Melle 1.0 1.0 0.9 0.9
Van Melle Group) Vietnam Ltd
Goody (The PAN Group) Bien Hoa Confectionery 0.9 0.7 0.9 0.9
Corp (Bibica)
Long Hai Long Hai Co Ltd 0.9 0.9 0.9 0.9
Hai Chau Hai Chau Confectionery JSC 1.2 1.1 0.9 0.9
Natty Long Hai Co Ltd 0.9 0.9 0.8 0.8
Others Others 46.1 46.9 46.3 46.4
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
© Euromonitor International
VND billion
2023 2024 2025 2026 2027 2028
% volume growth
2023/24 2023-28 CAGR 2023/28 Total
Sweet Biscuits, Snack Bars and Fruit Snacks 2.8 4.2 22.6
Savoury Snacks 2.9 4.0 21.7
Ice Cream 3.7 5.0 27.8
Confectionery 3.3 4.1 22.1
Snacks - - -
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
Sweet Biscuits, Snack Bars and Fruit Snacks 4.8 5.5 30.7
Savoury Snacks 4.4 5.4 29.8
Ice Cream 4.6 5.9 33.0
© Euromonitor International
DISCLAIMER
Forecast and scenario closing date: 12 June 2023
Report closing date: 21 June 2023
Analysis and data in this report give full consideration to consumer behaviour and market
performance in 2023 and beyond as of the dates above. For the very latest insight on this
industry and consumer behaviour, at both global and national level, readers can access
strategic analysis and updates on www.euromonitor.com and via the Passport system, where
new content is being added on a systematic basis.
SOURCES
Sources used during research include the following:
Agro.gov.vn
Institute of Economics
US Commercial Service
US Department of Commerce
Vietnam Custom
© Euromonitor International
24h.com
2sao.vn
A family
AmThuc365
Bentre Industry
Binh Dinh
Café Biz
CaféF
Dunghangviet.vn
FTA
Giaoduc.net.vn
Kinh Te 24h
Marketing Online
Massosurvey
© Euromonitor International
Quang Ngai
Retailer
Saigon Marketing
Saigon Times
SGGP Online
Tin 247
Viet Bao
Vietnam Branding
VIetnam Law
Vietnam News
Vietnam+
Vietnamnet
VietTime
Vnanet.vn
VnEconomy
Vnexpress
VnTrades
© Euromonitor International
CHOCOLATE CONFECTIONERY IN
VIETNAM - CATEGORY ANALYSIS
KEY DATA FINDINGS
2023 DEVELOPMENTS
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© Euromonitor International
Women’s Day, will also contribute to the growth of the market during the forecast period, with
consumers seeking out specific chocolate products for different occasions.
Innovation to centre around “better for you” products and more exotic
flavour combinations with tablets being A key beneficiary of this trend
One factor that could hamper sales of chocolate confectionery over the forecast period is the
growing interest in health and wellness, as affluent consumers are more likely to be influenced
by this trend. As such, new product developments are likely to centre around chocolate
confectionery with a lower sugar content, fewer calories and/or functional benefits, as well as
highly indulgent products, to be consumed in smaller quantities. Tablets will be the key
beneficiary of this trend, displaying the most dynamic rate of growth in retail volume terms.
Here, the key driver will be dark chocolate bars, which are reputed to be healthier than their milk
chocolate counterparts, as they are a source of antioxidants, which are linked to a lower risk of
heart disease.
In addition, domestic companies such as Marou Chocolate Co Ltd and Belcholat JSC are
likely to focus on launching new, innovative chocolate tablets with local ingredients, such as
durian, salt & pepper, Mekong kumquat or coconut, with more consumers expected to opt for
these distinctive chocolate flavours. One factor that is likely to prove crucial to the expansion
plans of local players is that raw cacao and all other basic ingredients are now cultivated
domestically, making it possible to reduce manufacturing costs by minimising reliance on
imported ingredients. While international brands such as Nestle, Mars, Mondelez will continue to
dominate the market, thanks to their wide distribution networks and dynamic marketing activity,
local brands will continue to cater to the preferences of Vietnamese consumers with their unique
local flavours and packaging.
CATEGORY DATA
Summary 2 Other Chocolate Confectionery by Product Type: 2023
Product type
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Chocolate lollipops
Chocolate paste
Liquid chocolate
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
'000 tonnes
2018 2019 2020 2021 2022 2023
- Other Chocolate - - - - - -
Confectionery
- Tablets 1.1 1.2 1.2 1.3 1.3 1.4
- Seasonal Chocolate - - - - - -
- Countlines 1.1 1.1 1.1 1.1 1.2 1.3
- Chocolate with Toys - - - - - -
- Boxed Assortments 2.6 2.7 2.8 2.8 3.0 3.1
- Chocolate Pouches and 0.9 0.9 0.9 0.8 0.9 0.9
Bags
Chocolate Confectionery 5.7 5.9 6.1 6.0 6.4 6.6
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
VND billion
2018 2019 2020 2021 2022 2023
- Other Chocolate - - - - - -
Confectionery
- Tablets 558.8 625.9 708.2 764.8 843.2 912.4
- Seasonal Chocolate - - - - - -
- Countlines 341.9 386.4 405.9 414.0 463.8 502.8
- Chocolate with Toys - - - - - -
- Boxed Assortments 1,125.7 1,266.4 1,380.3 1,407.9 1,561.7 1,680.7
- Chocolate Pouches and 284.8 323.3 328.5 332.4 365.7 387.6
Bags
Chocolate Confectionery 2,311.2 2,601.9 2,822.9 2,919.2 3,234.3 3,483.6
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
% volume growth
2022/23 2018-23 CAGR 2018/23 Total
© Euromonitor International
© Euromonitor International
Schokoladen AG
Dai Hien Tam Co Ltd 0.4 0.4 0.4 0.4 0.4
Marou Chocolate Co Ltd 0.5 0.5 0.4 0.4 0.4
Pham Nguyen Confectionery 0.3 0.2 0.2 0.1 0.1
& Candy Co Ltd
Delfi Ltd 2.4 1.1 0.4 0.1 0.0
Kinh Do Corp - - - - -
Mondelez International Inc - - - - -
Others 43.0 47.4 50.4 51.6 53.3
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Kit Kat (Nestlé SA) Nestlé Vietnam Co Ltd 8.6 8.9 9.0 9.1
Guylian (Lotte Group) Chocolaterie Guylian NV 7.2 7.2 7.2 7.1
M&M's (Mars Inc) Mars Vietnam Co Ltd 5.8 5.5 5.5 5.6
Bella (The PAN Group) Bien Hoa Confectionery 3.4 2.6 3.2 3.2
Corp (Bibica)
Snickers (Mars Inc) Mars Vietnam Co Ltd 3.3 3.0 3.1 3.1
Ferrero Rocher Ferrero SpA 1.7 1.9 2.2 2.2
(Ferrero & related
parties)
Toblerone (Mondelez Mondelez Kinh Do Vietnam 1.9 2.1 2.1 2.0
International Inc) JSC
Hershey's Kisses Hershey Co, The 1.8 1.9 2.0 2.0
Dars Morinaga & Co Ltd 1.8 1.9 2.0 2.0
Vochelle (Maestro Maestro Swiss Chocolate 1.7 1.4 1.3 1.1
Swiss Corp) Sdn Bhd
Koko Choco (Mondelez Mondelez Kinh Do Vietnam 1.0 1.0 1.0 0.9
International Inc) JSC
Mars (Mars Inc) Mars Vietnam Co Ltd 1.0 0.9 0.9 0.9
Ritter Sport Ritter GmbH & Co KG, Alfred 0.8 0.9 0.9 0.9
Merci August Storck KG 0.8 0.8 0.9 0.8
Wonderland Belcholat Chocolate JSC 0.8 0.7 0.7 0.7
Dove (Mars Inc) Mars Vietnam Co Ltd 1.1 1.0 0.8 0.7
Riesen August Storck KG 0.6 0.6 0.6 0.6
Cadbury Dairy Milk Mondelez Kinh Do Vietnam 0.6 0.6 0.6 0.6
(Mondelez JSC
International Inc)
Munz Maestrani Schweizer 2.7 2.2 1.3 0.6
Schokoladen AG
Belcholat Belcholat Chocolate JSC 2.2 1.4 0.8 0.5
Toffifee August Storck KG 0.8 0.6 0.4 0.4
Mark & Milk Chocolate Dai Hien Tam Co Ltd 0.4 0.4 0.4 0.4
Marou Faiseurs de Marou Chocolate Co Ltd 0.5 0.4 0.4 0.4
Chocolat
P&N Pham Nguyen Confectionery 0.2 0.2 0.1 0.1
& Candy Co Ltd
Van Houten Delfi Ltd 1.1 0.4 0.1 0.0
Bella Bien Hoa Confectionery - - - -
Corp (Bibica)
Van Houten Hershey Co, The - - - -
Koko Choco Kinh Do Corp - - - -
Cadbury Dairy Milk Mondelez International Inc - - - -
© Euromonitor International
'000 tonnes
2023 2024 2025 2026 2027 2028
- Other Chocolate - - - - - -
Confectionery
- Tablets 1.4 1.4 1.5 1.5 1.6 1.7
- Seasonal Chocolate - - - - - -
- Countlines 1.3 1.3 1.4 1.4 1.5 1.6
© Euromonitor International
VND billion
2023 2024 2025 2026 2027 2028
- Other Chocolate - - - - - -
Confectionery
- Tablets 912.4 958.6 1,015.8 1,083.7 1,157.0 1,238.7
- Seasonal Chocolate - - - - - -
- Countlines 502.8 525.5 550.7 578.2 608.9 642.4
- Chocolate with Toys - - - - - -
- Boxed Assortments 1,680.7 1,748.1 1,825.1 1,910.9 2,006.4 2,110.8
- Chocolate Pouches and 387.6 397.3 408.0 420.3 435.0 452.4
Bags
Chocolate Confectionery 3,483.6 3,629.4 3,799.6 3,993.1 4,207.3 4,444.3
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
% volume growth
2023/24 2023-28 CAGR 2023/28 Total
© Euromonitor International
© Euromonitor International
2023 DEVELOPMENTS
© Euromonitor International
between dental health and other medical problems inside the body, such as heart disease or
dementia. This was in contrast to the approach taken by most other gum companies, which
tended to focus on the benefit of freshening breath. One notable success in 2023 was Lotte
Xylitol, a sugar-free chewing gum which was approved by VOSA (Vietnam Odonto-Stomatology
Association) and which came in a variety of packaging formats, including plastic bottles (in three
sizes), blister packs, bags and jars, as well as flavours.
© Euromonitor International
CATEGORY DATA
Table 24 Sales of Gum by Category: Volume 2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
VND billion
© Euromonitor International
% volume growth
2022/23 2018-23 CAGR 2018/23 Total
ranking
2018 2019 2020 2021 2022 2023
Doublemint 1 1 1 1 1 1
Mint 2 2 2 2 2 2
Strawberry - 7 6 3 3 3
Blueberry - 8 7 4 4 4
Melon 6 5 5 6 5 5
Green Tea 4 6 8 7 6 6
Apple Mint 3 3 4 5 7 7
Mixed Fruits 5 4 3 8 8 8
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
© Euromonitor International
Doublemint (Mars Inc) Wrigley Vietnam Ltd 27.9 27.0 26.9 26.9
Lotte (Lotte Group) Lotte Vietnam Co Ltd 22.0 23.0 23.4 23.5
Cool Air (Mars Inc) Wrigley Vietnam Ltd 22.4 21.8 21.7 21.7
Happydent (Perfetti Perfetti Van Melle 15.8 16.1 16.1 16.0
Van Melle Group) Vietnam Ltd
Extra (Mars Inc) Wrigley Vietnam Ltd 3.8 3.7 3.7 3.5
Big Babol (Perfetti Perfetti Van Melle 3.1 3.1 3.0 3.1
Van Melle Group) Vietnam Ltd
Dr. Xylitol (Orion Orion Food Vina Co Ltd 2.5 2.7 2.7 2.7
Group)
Mentos (Perfetti Van Perfetti Van Melle 0.8 0.9 0.9 0.9
Melle Group) Vietnam Ltd
Hubba Bubba (Mars Inc) Mars Vietnam Co Ltd 0.2 0.2 0.2 0.2
Others Others 1.6 1.5 1.4 1.4
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
© Euromonitor International
'000 tonnes
2023 2024 2025 2026 2027 2028
VND billion
2023 2024 2025 2026 2027 2028
% volume growth
2023/24 2023-28 CAGR 2023/28 Total
© Euromonitor International
© Euromonitor International
SUGAR CONFECTIONERY IN
VIETNAM - CATEGORY ANALYSIS
KEY DATA FINDINGS
2023 DEVELOPMENTS
© Euromonitor International
© Euromonitor International
confectionery, which is formulated with active ingredients, such as vitamins, minerals, or herbal
extracts.
However, it should be noted that sugar confectionery is typically considered to be an
indulgence, rather than a part of the everyday diet and will therefore continue to be consumed
as a treat, despite a growing interest in health and nutrition. As such, the development of new
products and flavours will remain a key driver in attracting consumers’ attention and
encouraging trial purchases, as manufacturers seek to provide consumers with satisfying
sensory experiences.
CATEGORY DATA
Summary 3 Other Sugar Confectionery by Product Type: 2023
Product type
Jelly cups
© Euromonitor International
Marshmallows
Popping confectionery
Cotton candy
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
'000 tonnes
2018 2019 2020 2021 2022 2023
VND billion
2018 2019 2020 2021 2022 2023
© Euromonitor International
% volume growth
2022/23 2018-23 CAGR 2018/23 Total
Table 40 Sales of Pastilles, Gummies, Jellies and Chews by Type: % Value 2018-2023
© Euromonitor International
Vietnam Ltd
Haiha Confectionery JSC 11.6 13.0 10.1 10.8 10.7
Bien Hoa Confectionery 11.5 11.0 9.1 10.7 10.6
Corp (Bibica)
Long Hai Co Ltd 10.5 10.4 11.0 10.2 10.2
Triko Foods Co 9.5 9.6 10.3 9.5 9.5
Lotte Vietnam Co Ltd 4.0 3.9 4.2 3.9 3.8
Orion Food Vina Co Ltd - - 0.1 2.8 2.9
Mayora Vietnam Co Ltd 1.9 1.9 2.0 2.0 2.0
Hai Chau Confectionery JSC 3.0 2.3 1.9 1.4 1.1
Mars Inc 0.8 0.8 0.8 0.8 0.8
Hanh Dung Co Ltd 0.8 0.8 0.8 0.8 0.8
Trang An JSC 0.7 0.7 0.7 0.6 0.6
Liwayway Food Industry Co 0.4 0.4 0.4 0.4 0.4
Ltd
Arcor SAIC 0.5 0.5 0.5 0.4 0.4
URC Vietnam Co Ltd 0.3 0.3 0.3 0.3 0.3
Biscafun Confectionery Co 0.4 0.3 0.4 0.3 0.3
Hamido Co Ltd 0.2 0.2 0.2 0.2 0.2
Lofthouse of Fleetwood Ltd 0.1 0.1 0.2 0.2 0.2
Wrigley Vietnam Ltd 0.1 0.1 0.1 0.1 0.1
Ha Noi Confectionery Co 0.1 0.0 0.0 0.0 0.0
Others 30.9 31.3 33.8 32.1 32.5
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Bibica (The PAN Group) Bien Hoa Confectionery 10.8 9.0 10.6 10.5
Corp (Bibica)
New Choice Jelly Triko Foods Co 9.6 10.3 9.5 9.5
Hai Ha Haiha Confectionery JSC 9.5 7.5 8.2 8.1
Long Hai Long Hai Co Ltd 5.4 5.7 5.3 5.3
Natty Long Hai Co Ltd 5.0 5.3 4.9 4.8
Chupa Chups (Perfetti Perfetti Van Melle 4.8 5.0 4.7 4.7
Van Melle Group) Vietnam Ltd
Mentos (Perfetti Van Perfetti Van Melle 3.7 4.0 3.8 3.9
Melle Group) Vietnam Ltd
Lotte (Lotte Group) Lotte Vietnam Co Ltd 3.1 3.3 3.1 3.1
Boom Jelly (Orion Orion Food Vina Co Ltd - 0.1 2.8 2.9
Group)
Golia (Perfetti Van Perfetti Van Melle 2.3 2.5 2.3 2.4
Melle Group) Vietnam Ltd
Kopiko (Mayora Indah Mayora Vietnam Co Ltd 1.9 2.0 2.0 2.0
Tbk PT)
Alpenliebe (Perfetti Perfetti Van Melle 1.7 1.8 1.7 1.7
Van Melle Group) Vietnam Ltd
Chip Chip Jellies Haiha Confectionery JSC 1.8 1.5 1.6 1.6
Hai Chau Hai Chau Confectionery JSC 2.3 1.9 1.4 1.1
Skittles Mars Inc 0.8 0.8 0.8 0.8
Hanh Dung Jelly Hanh Dung Co Ltd 0.8 0.8 0.8 0.8
Anytime (Lotte Group) Lotte Vietnam Co Ltd 0.8 0.8 0.7 0.7
Hai Ha Toffee Haiha Confectionery JSC 0.8 0.6 0.7 0.6
Trang An Trang An JSC 0.6 0.6 0.6 0.5
Oishi (Liwayway Liwayway Food Industry Co 0.4 0.4 0.4 0.4
© Euromonitor International
© Euromonitor International
'000 tonnes
2023 2024 2025 2026 2027 2028
VND billion
2023 2024 2025 2026 2027 2028
% volume growth
2023/24 2023-28 CAGR 2023/28 Total
© Euromonitor International
-- Power Mints - - -
- Mints 3.2 3.7 20.1
- Medicated Confectionery 5.5 6.0 33.8
- Lollipops 3.2 3.9 21.0
- Liquorice - - -
- Boiled Sweets 1.8 2.5 13.3
Sugar Confectionery 3.4 4.2 22.7
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
© Euromonitor International
2023 DEVELOPMENTS
© Euromonitor International
takes to develop new products. This allows it to perform better than its rivals in terms of keeping
up with consumer trends.
Rising demand for impulse ice cream, thanks to economy recovery and
the revival of tourism, with local brands retaining the competitive edge
The forecast period is set to see rising demand for ice cream in Vietnam, thanks to a stronger
economic performance, rising disposable incomes and the full revival of domestic and
international tourism. Impulse ice cream will see the more dynamic performance, with
accelerating retail volume growth anticipated from 2025 onwards. This will be supported by
consumers spending more time outside the home, as well as the return of international tourists
to the country. Single portion dairy ice cream will benefit most from this trend as consumers
continue to prefer its richer taste over water-based varieties. As such, the former will record
increasingly robust retail volume growth rates, whilst single portion water ice cream will see a
more modest increase in sales during the forecast period. In terms of brand preference, local
offerings such as Merino, Celano (both Kido Group), Vinamilk and Trang Tien etc will find more
favour with Vietnamese consumers, not only because of their affordable pricing, but also due to
strong patriotic sentiments, rising product quality and their ability to adapt quickly to local tastes.
Rising freezer penetration in homes and small local grocers will boost
growth of take-home and impulse ice cream
Within take-home ice cream, one of the major factors supporting growth will be the rising
household penetration of refrigeration appliances. Recent years have seen a surge in purchases
of freezers amongst middle-class urban Vietnamese consumers and the opportunity to store ice
cream at home is likely to support a strong increase in demand for take-home ice cream.
Although Vietnam’s economy took a hit in 2023,, thanks to high inflation and the continuing
effects of the war in Ukraine, the country has seen phenomenal economic growth and
development in recent years, and this is expected to return once greater inflation stability has
been achieved. This will further increase the penetration of refrigeration appliances in the
country and thus the audience for take-home ice cream.
In addition to refrigerators becoming a more common sight in Vietnamese homes, they are
also becoming more prevalent in traditional grocery retailers, with this is set to prove crucial to
© Euromonitor International
boosting sales of both impulse ice cream and take-home ice cream. Consumers prefer to buy
ice cream from nearby shops, rather than travelling to a further away supermarket or
hypermarket as the ice cream is likely to melt on the journey home. However, smaller local
venues do not typically have the resources to implement their own frozen storage and display
facilities, so players are expected to invest in providing these and support retailers with
electricity costs to ensure their products can be sold in these locations. This will favour the major
players in the category, which have advantages in terms of distribution.
CATEGORY DATA
Table 48 Sales of Ice Cream by Category: Volume 2018-2023
million litres
2018 2019 2020 2021 2022 2023
© Euromonitor International
VND billion
2018 2019 2020 2021 2022 2023
% volume growth
2022/23 2018-23 CAGR 2018/23 Total
© Euromonitor International
ranking
2018 2019 2020 2021 2022 2023
Vanilla 2 1 1 1 1 1
Chocolate 1 2 2 2 2 2
Strawberry 3 3 3 3 3 3
Coconut 5 4 4 4 4 4
Banana 7 7 6 5 5 5
Green Tea 4 5 8 7 6 6
Mango 6 8 5 6 7 7
Durian 9 6 7 8 8 8
Raisin 8 9 9 9 9 9
Lemon 10 10 10 10 10 10
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
© Euromonitor International
© Euromonitor International
JSC (Vinamilk)
Trang Tien Service & 6.0 6.0 6.0 5.8 5.8
Trading Co Ltd
Fanny Vietnam Co Ltd 5.6 5.6 5.6 5.2 4.9
Nestlé Vietnam Co Ltd 4.6 4.6 4.7 4.6 4.7
Phan Nam Monterosa 2.0 2.0 2.0 1.9 1.8
Trading JSC
Thuy Ta JSC 1.1 1.0 0.9 0.8 0.8
Kinh Do Corp - - - - -
Others 23.5 22.2 21.1 20.7 20.4
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
© Euromonitor International
© Euromonitor International
million litres
2023 2024 2025 2026 2027 2028
VND billion
2023 2024 2025 2026 2027 2028
© Euromonitor International
% volume growth
2023/24 2023-28 CAGR 2023/28 Total
© Euromonitor International
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
© Euromonitor International
2023 DEVELOPMENTS
© Euromonitor International
distribute their products in a specific area of the country, focusing on serving local needs rather
than expanding to other provinces. This prevents them from gaining a higher overall share in the
category, even if they are highly successful within their own region. As such, the combined
group of smaller players under ‘others’ retained largest retail value share of savoury snacks,
significantly ahead of leading player Orion Food Vina which benefits from its wide portfolio of
brands (namely, Toonies, Ostar, Marine Boy, An, and Khoai Tayo!) in salty snacks. This
situation is unlikely to change anytime soon, with the category expected to remain diverse and
fragmented into the coming years.
During the review period, manufacturers such as Orion, PepsiCo and Mondelez focussed on
launching offerings with innovative new flavours and shapes to target the Gen Z generation.
Orion, for example, introduced a product line called O'Star Zing, which contained luxurious, bold
ingredients such as Himalayan Salted Grilled Beef and Sweet and Sour Prawn Tempura.
PepsiCo, meanwhile, also launched new brand named My Chiu, which targeted Gen Z
consumers with its lower pricing.
Economic recovery will boost growth, but health concerns will present
challenges as well as opportunities
Savoury snacks will see further expansion in retail volume terms over the forecast period, with
the rate of growth set to accelerate over the next five years, in line with the recovery of the
Vietnam economy. However, the fact that local consumers are expected to become increasingly
© Euromonitor International
health conscious has the potential to present serious challenges to the category, given that
savoury snacks are typically high in fat and salt. This rising health awareness is the result of
better access to information about diet and nutrition, mainly via the internet, but also due to
public health awareness campaigns that have been prominent in Vietnam in recent years. With
many consumers automatically assuming that the most popular types of savoury snacks (such
as puffed snacks and potato chips) are inherently unhealthy, demand for these items could
come under pressure. However, while this health trend could be seen as an unfavourable
scenario, it does also present opportunities for nuts, seeds and trail mixes, which currently suffer
from a low level of consumer awareness as their nutritional properties. Rice snacks (crackers)
could also benefit from this trend, as many consumers believe these products can help them to
control their weight, due to the fact that they are lower in calories than many other savoury
snack alternatives. Manufacturers also have the opportunity to develop other types of “healthy”
savoury snacks, akin to those seen in other countries. However, it is important to note that such
products will need to be marketed explicitly with reference to their health and wellness attributes
if they are going to attract health-conscious Vietnamese consumers.
Adult consumers will remain key target audience, with unique flavours
being key to capturing their attention
Adults are expected to remain the target audience for savoury snacks in Vietnam over the
forecast period, with an increasing number of consumes showing an interest in categories such
savoury biscuits, and meat and seafood snacks. Whilst sweet snacks (such as gum and sugar
confectionery) are thought to be most attractive to children, spicy and salty flavours are
preferred by adults as such products are considered more sophisticated in flavour. In fact, the
combination of the spicy and salty flavours in a single product is becoming more common to
create a unique taste. For example, chilli and salt is becoming a more sought-after flavour,
particularly in potato chips. Given that volume consumption of savoury snacks per adult
consumer is high in Vietnam, the development of further flavour combinations, supported by
marketing and advertising activity, is likely give the category a welcome boost over the forecast
period.
CATEGORY DATA
Summary 4 Other Savoury Snacks by Product Type: 2023
Product type
Seaweed snacks
Snack noodles
© Euromonitor International
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
'000 tonnes
2018 2019 2020 2021 2022 2023
VND billion
2018 2019 2020 2021 2022 2023
% volume growth
2022/23 2018-23 CAGR 2018/23 Total
© Euromonitor International
© Euromonitor International
© Euromonitor International
'000 tonnes
2023 2024 2025 2026 2027 2028
© Euromonitor International
Pretzels - - - - - -
Popcorn - - - - - -
Savoury Biscuits 19.6 20.1 20.8 21.7 22.8 24.1
- Vegetable, Pulse and - - - - - -
Bread Chips
- Rice Snacks 10.0 10.3 10.7 11.2 11.7 12.4
- Puffed Snacks 36.3 37.1 38.0 39.3 40.9 42.7
- Tortilla Chips - - - - - -
- Potato Chips 14.8 15.2 15.8 16.6 17.5 18.6
Salty Snacks 61.1 62.6 64.5 67.1 70.1 73.7
Nuts, Seeds and Trail 6.3 6.4 6.6 6.7 6.8 6.9
Mixes
Savoury Snacks 101.0 104.0 107.5 112.0 117.1 122.9
Source: Euromonitor International from trade associations, trade press, company research, trade interviews,
trade sources
VND billion
2023 2024 2025 2026 2027 2028
% volume growth
2023/24 2023-28 CAGR 2023/28 Total
© Euromonitor International
© Euromonitor International
2023 DEVELOPMENTS
Inflation limits growth in sweet biscuits, snack bars and fruit snacks in
2023.
In contrast to the relatively strong performance of the previous year, sweet biscuits, snack
bars and fruit snacks saw minimal growth in retail volume terms in 2023. Sales were negatively
impacted to a return to pre-pandemic lifestyles, which saw consumers snack less on these items
whilst working, studying, or entertaining themselves at home. Growth was also impacted by high
domestic inflation, which weighed heavily on household budgets, leaving consumers with less
disposable income to spend on non-essential items. This was even evident during local festivals
and holidays, such as Tet (Lunar New Year), when consumers and took a cautious approach to
their gift-buying. However, while most Vietnamese consumers became more price sensitive,
middle-class professionals in the country’s urban centres remained willing to pay a premium for
higher quality products that they perceived as being “safer” and more hygienic.
Healthy eating trends boost sales of fruit sales and snack bars
Sweet biscuits continued to account for the vast proportion of category volume sales, with
smaller contributions from fruit snacks and snack bars, However, the latter two products were
the key drivers of growth in 2023, thanks to consumers’ rising health consciousness. The
pandemic had a positive effect on consumer eating habits, with a growing and demand for
products containing more natural ingredients, such as fruit and nuts. Although some fruit snacks
are still made with added sugar, the fact that these products are derived from natural fruits
means that consumers still consider them to be better for their health than items manufactured
from artificial ingredients. This perception is boosting demand for these products and led to
continued strong growth in fruit snacks in 2023. Snack bars, meanwhile, particularly those made
with whole grains, nuts, seeds, and dried fruits, also catered to this demand and started to gain
more attention from both manufacturers and Vietnamese consumers, despite of their higher
pricing compared to other snack options. The healthy eating trend also impacted sweet biscuits,
with products made from wholegrains, less sugar, organic and natural ingredients and which
were free from artificial additives and preservatives all gaining traction in 2023.
© Euromonitor International
Health and wellness trends will continue to shape innovation within the
category
During the forecast period, consumers will begin to make more conscious dietary choices and
will opt for healthier snack options. While fruit snacks and snack bars are already set to benefit
this trend, due to their inherently “healthy” positioning, sweet biscuit manufacturers will need to
adapt to these changes by launching new products which are lower in sugar, given the rising
awareness of the potential effects of excessive sugar consumption on long-term health. This is
especially important in Vietnam due to the higher prevalence of conditions such as diabetes and
metabolic syndrome amongst East Asian people. Whilst this presents a potential threat to sales
© Euromonitor International
growth in sweet biscuits during the forecast period, it also presents opportunities to
manufacturers who are willing to invest in the development of healthier products.
Besides products that are lower in sugar, there will also be a focus on variants that are gluten-
free, fat-free, fortified (for example, with more fibre or protein) and which contain functional
ingredients, such as prebiotics and probiotics. This will be particularly relevant for players in fruit
snacks - a category which is already seen as less harmful and more nutritious than most other
types of commercially manufactured snacks. Air-dried fruit snacks are likely to become
increasingly preferred over oil-fried alternatives, which have traditionally been the most popular
types of fruit snacks in Vietnam.
As well as investing in the development of “better for you” alternatives, players will also need
to assert their health claims on their packaging, in order to gain the attention of an increasingly
knowledgeable audience. Consistent with trends in other countries, Vietnamese consumers are
likely to spend more time checking product labels for factors such as ingredients, nutritional
content and place of origin before making a purchase.
In addition, companies also need to ensure that their products are easily transportable and
packaged for on-the-go consumption, as Vietnamese consumers lead increasingly busy
lifestyles.
© Euromonitor International
CATEGORY DATA
Table 76 Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category: Volume
2018-2023
'000 tonnes
2018 2019 2020 2021 2022 2023
Table 77 Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category: Value 2018-
2023
VND billion
2018 2019 2020 2021 2022 2023
Table 78 Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category: % Volume
Growth 2018-2023
© Euromonitor International
% volume growth
2022/23 2018-23 CAGR 2018/23 Total
Table 79 Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category: % Value
Growth 2018-2023
Table 80 NBO Company Shares of Sweet Biscuits, Snack Bars and Fruit Snacks: %
Value 2019-2023
© Euromonitor International
Corp (Bibica)
Haiha Confectionery JSC 3.7 4.4 3.3 3.7 3.7
Vinamit JSC 2.4 2.6 2.7 2.7 2.8
Hai Chau Confectionery JSC 3.1 2.9 2.8 2.6 2.5
Meiji Holdings Co Ltd 1.9 2.0 2.1 2.1 2.1
Biscafun Confectionery Co 2.4 2.4 2.2 2.1 2.0
Glico Dairy Products Co Ltd 0.6 0.6 0.6 0.6 0.6
Nestlé Vietnam Co Ltd 0.4 0.5 0.5 0.5 0.5
Nha Be Import Export Co 0.3 0.2 0.2 0.2 0.2
Quynh Anh Food Co Ltd 0.2 0.2 0.2 0.2 0.2
Hoang Gia Fruit Food JSC 0.2 0.2 0.1 0.2 0.2
Lotte Vietnam Co Ltd 0.1 0.2 0.2 0.2 0.1
San Nam Food Co Ltd 0.1 0.1 0.1 0.1 0.1
Kinh Do Corp - - - - -
Mondelez International Inc - - - - -
Others 28.2 30.3 31.6 30.3 30.1
Total 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Table 81 LBN Brand Shares of Sweet Biscuits, Snack Bars and Fruit Snacks: % Value
2020-2023
© Euromonitor International
Hoang Gia Foods Hoang Gia Fruit Food JSC 0.2 0.1 0.2 0.2
Koko Krunch (Nestlé SA) Nestlé Vietnam Co Ltd 0.2 0.2 0.2 0.2
Toppo (Lotte Group) Lotte Vietnam Co Ltd 0.2 0.2 0.2 0.1
San Nam San Nam Food Co Ltd 0.1 0.1 0.1 0.1
Goody Bien Hoa Confectionery - - - -
Corp (Bibica)
Goody Chips Bien Hoa Confectionery - - - -
Corp (Bibica)
Cosy Kinh Do Corp - - - -
Good Choice Kinh Do Corp - - - -
Others Others 31.1 32.2 31.0 30.8
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
© Euromonitor International
Goody (The PAN Group) Bien Hoa Confectionery 3.6 2.9 3.5 3.4
Corp (Bibica)
Hai Ha Haiha Confectionery JSC 4.1 3.1 3.4 3.4
Hai Chau Hai Chau Confectionery JSC 3.2 3.0 2.8 2.7
LU (Mondelez Mondelez Kinh Do Vietnam 2.1 2.3 2.4 2.4
International Inc) JSC
Biscafun (Quang Ngai Biscafun Confectionery Co 2.5 2.4 2.2 2.1
Sugar JSC)
Yan Yan Meiji Holdings Co Ltd 1.0 1.0 1.0 1.0
Cal Cheese (Mayora Mayora Vietnam Co Ltd 1.1 1.1 1.1 1.0
Indah Tbk PT)
Hello Panda Meiji Holdings Co Ltd 0.9 0.9 0.9 0.9
Goody Chips (The PAN Bien Hoa Confectionery 1.0 0.8 0.9 0.9
Group) Corp (Bibica)
Pocky (Ezaki Glico Co Glico Dairy Products Co Ltd 0.6 0.6 0.6 0.7
Ltd)
Roma Marie (Mayora Mayora Vietnam Co Ltd 0.4 0.4 0.5 0.4
Indah Tbk PT)
Lucky Meiji Holdings Co Ltd 0.3 0.3 0.3 0.3
Toppo (Lotte Group) Lotte Vietnam Co Ltd 0.2 0.2 0.2 0.2
Goody Bien Hoa Confectionery - - - -
Corp (Bibica)
Goody Chips Bien Hoa Confectionery - - - -
Corp (Bibica)
Cosy Kinh Do Corp - - - -
Good Choice Kinh Do Corp - - - -
Kinh Do Kinh Do Corp - - - -
Korento Kinh Do Corp - - - -
Oreo Mondelez International Inc - - - -
Korento (Mondelez Mondelez Kinh Do Vietnam - - - -
International Inc) JSC
Others Others 30.4 31.4 30.0 29.8
Total Total 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
© Euromonitor International
Table 86 Distribution of Sweet Biscuits, Snack Bars and Fruit Snacks by Format: % Value
2018-2023
© Euromonitor International
© Euromonitor International
Electronics Specialists
--- Home Products - - - - - -
Specialists
--- Health and Beauty - - - - - -
Specialists
--- Leisure and - - - - - -
Personal Goods
Specialists
--- Other Non-Grocery - - 0.0 0.0 - -
Retailers
-- Vending - - - - - -
-- Direct Selling - - - - - -
- Retail E-Commerce 0.5 1.3 2.0 2.1 2.1 2.1
Total 100.0 100.0 100.0 100.0 100.0 100.0
Source: Euromonitor International from official statistics, trade associations, trade press, company research,
store checks, trade interviews, trade sources
Table 89 Forecast Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category:
Volume 2023-2028
'000 tonnes
2023 2024 2025 2026 2027 2028
Table 90 Forecast Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category:
Value 2023-2028
VND billion
2023 2024 2025 2026 2027 2028
© Euromonitor International
Table 91 Forecast Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category: %
Volume Growth 2023-2028
% volume growth
2023/24 2023-28 CAGR 2023/28 Total
Table 92 Forecast Sales of Sweet Biscuits, Snack Bars and Fruit Snacks by Category: %
Value Growth 2023-2028
© Euromonitor International
© Euromonitor International