Vietnam

Healthy eating trends are influencing sweet sauces, such as seen with the rising popularity of nut and seed based spreads, as evidenced by the subcategory showing the most robust value growth and with volume also on an upwards trajectory. A further…

The reduced-salt trend, as backed by the government, is influencing patterns in sauces, dips, and condiments. According to reports from the Ministry of Health, Vietnamese consumers are cited to eat an average of 9.4g per day of salt, compared to the…

The performance of pre-paid cards is supported by the growth of e-commerce – notably since the era of the pandemic. In fact, prior to 2020, transaction numbers in pre-paid cards were showing a negative performance, in sharp contrast to what is seen…

Ready meals is seeing healthy retail sales in both volume and value terms. Overall, sales are being driven by consumers’ demand for convenience, as people have returned to their busy lifestyles – especially so in the large cities – whereby they have…

2023 is witnessing a substantial increase in both the volume and value of financial cards overall, primarily driven by government initiatives aimed at encouraging cashless payments. Debit cards, credit cards, and pre-paid cards are all seeing healthy…

Edible oils continues to face challenges caused by shortages of raw materials and supply chain disruptions, along with climatic impacts. As such and added to inflationary pressures, this is pushing up prices and supporting value sales, while retail…

Cashless payment trends are being boosted by both government and issuer initiatives in Vietnam, along with support from retailers in various industries and channels across the country. This, in turn, is helping to boost the performance of financial…

Credit cards are also benefitting from the ongoing government and finance industry efforts to promote a cashless payment society. As such, we are seeing a robust performance in credit cards in 2023, thanks to a growing awareness among consumers about…

Retail value growth is stronger than volume in cooking ingredients and meals in Vietnam, due to inflationary pressures pushing up unit prices. That said, despite these economic pressures, volume growth is also relatively stable. We also note that…

In 2023, the State Bank of Vietnam implemented measures to promote consumer lending for daily needs. To encourage banks to increase their lending activities, including consumer lending, the State Bank issued Circular No. 06/2023/TT-NHNN on 28 June…

The biggest story in consumer lending in 2023 is the issuing of the new Circular by the State Bank of Vietnam, to promote consumer lending for daily needs. To encourage banks to increase their lending activities, including consumer lending, the State…

Retail prices of staple foods in the Vietnam continued to rise in 2023. While inflationary pressures began to ease, the ongoing war in Ukraine had a major impact on the prices of key raw materials, due to the disruption of the global supply chain.…

Retail prices of rice, pasta and noodles in the Vietnam continued to rise in 2023. While inflationary pressures began to ease, the ongoing war in Ukraine had a major impact on the prices of key raw materials, due to the disruption of the global…

In 2023, the prices of commodities, including animal feed, remained elevated due to global supply chain issues resulting from Russia’s invasion of Ukraine. While there was some improvement during the second half of the year, stubbornly high input…

Despite strong competition from fresh fruits and vegetables, processed fruits/vegetables saw buoyant growth in volume terms in 2023, with foodservice driving this expansion. The influence of western-influenced dietary trends, such as the popularity…

Demand for breakfast cereals remained very limited in Vietnam in 2023, due to the overwhelming importance of traditional specialities such as xoi (sticky rice), pho (a broth containing rice noodles, meat and herbs), bun bo (a spicy broth associated…

Volume sales of baked goods saw positive growth for the second year in 2023, supported to a large extent by the continued recovery of foodservice. With the easing of pandemic restrictions, including a return to office-based working patterns,…

Due to elevated inflation and a dismal economic outlook, people have been looking to save money and have been more cautious when it comes to spending on womenswear in 2023. Although the Vietnamese government temporarily reduced the VAT rate from 10%…

Sportswear continues to see double-digit growth in current value terms in 2023, although this is largely based on elevated inflation rather than a significant recovery in demand. The gloomy economy has negatively affected the recovery of sportwear in…

Elevated inflation and other economic challenges have resulted in a large number of job losses in Vietnam which has had a negative effect on the recovery of menswear in 2023 in both value and volume terms. Although the government has introduced a…