The Vietnamese food processing industry is driven by strong domestic consumption and strong exports, and demand is growing, but fierce competition forces the industry to continue investing funds to improve efficiency and meet global food safety standards.


Due to that fact, Vietnamese food processing companies must continuously innovate and invest in new machinery and equipment to increase efficiency and meet international customer requirements for food safety standards. As a result Vietnam's food processing companies adopted low-cost strategies and invest large sums of money for equipment upgrades, which is mainly sourced from overseas - which opens great opportunities for international machinery manufacturers. As a result, food processing, packaging and labeling machinery manufacturers have seen Vietnam as the number one target market.


Thanks to the huge investment in new machinery and technology, the relevant industries had made great progress and continue to develop quite rapidly. American economist Jacob Barners researched the food processing and packaging industry in Vietnam. He pointed out: "Compared with other developing countries, Vietnam's food processing and packaging industry started late, but the development rate is swift and the momentum is amazing. Vietnam has fully utilized imports of Technology and overseas expertise.

 

"Vietnam is blessed with fresh food resources. The production of food for domestic and international markets is one of the main driving forces for Vietnam's economic growth. To meet market needs, most import and export companies must not only introduce high-tech solutions to ensure product quality, Innovation is also required. This is especially important in logistics and transportation and meeting overseas food safety requirements."

Vietnam market in numbers:


  • Vietnam has the largest beer market among the 10 members of the Association of Southeast Asian Nations, with annual production of more than 4 million kilo-liters, according to Kirin Holdings research.
  • Revenue in the Food & Beverages segment amounts to US$90m in 2018.
  • Revenue is expected to show an annual growth rate (CAGR 2018-2022) of 15.2%, resulting in a market volume of US$159m by 2022.
  • User penetration is 15.9% in 2018 and is expected to hit 19.2% by 2022.
  • The average revenue per user (ARPU) currently amounts to US$5.99.
  • The Business Monitor International (BMI) forecast that the growth rate of the sector would be at 10.9 per cent in the 2017-19 period, thanks to people's increasing income and a trend of using high value products.
  • Increase of EU companies entering Vietnamese market due to EVFTA

Location

Ho Chi Minh City
Ho Chi Minh City, Vietnam

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