Vietnam

Sales in personal care appliances are supported by rising incomes and standards of living in Vietnam, leading to consumers paying more attention to their appearances. Social media trends are also influencing sales, both in urban areas and reaching…

Although economic freedom is improving, the rule of law in Vietnam remains weak. Strong economic recovery has outpaced regional peers and inflation is not a major issue, but the external sector is susceptible to supply and demand shocks. Higher…

Pet care in Vietnam is maintaining decent value and volume growth in 2024, supported by baseline demand. That said, economic challenges persist, with high rates of unemployment and low levels of income, which are suppressing potentially stronger…

Pet products is being supported by sales in pet healthcare in Vietnam in 2024, with other pet products (toys, bedding, etc.) also performing well. Ultimately, the performance of pet products is tied to the pet humanisation trends, although the…

The consumption of plant-based dairy remains a prominent and enduring trend within the broader dairy industry in 2023. The rise in popularity of the health and wellness and sustainability movements has significantly contributed to the increase in…

Although plant-based dairy packaging unit volumes were only stagnating in 2022, this was an improvement in terms of performance following two years of decline during the pandemic. Although plant-based dairy was seeing strong growth prior to the…

During 2023, polishes saw an improved performance in both retail volume and current value terms. The category is dominated by shoe polishes, which benefitted from the revival of normal, pre-pandemic lifestyles, including the return of consumers to…

Portable players continues to see healthy growth in retail volume terms in 2023, although this is being entirely driven by the strong demand for wireless speakers. Consumers appreciate the convenience of being able to create a fast connection between…

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…

Premium beauty and personal care in Vietnam saw current value growth driven by several factors in 2023. Rising income levels and an ageing population has meant that more Vietnamese consumers are now earmarking a greater proportion of their budgets…

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…

Processed fruit and vegetables packaging managed to record modest growth in Vietnam in 2022 due to growing demand for convenience in food consumption, with processed fruit and vegetable products offering consumers easy-to-prepare and ready-to-use…

Shelf stable seafood packaging continued to see strong growth in 2022 in Vietnam’s processed meat and seafood category as products such as canned fish and seafood offer consumers a convenient and long-lasting source of protein and nutrition. These…

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…

Although peas and other pulses have a presence in Vietnam, availability is low and sales are still very small. The use of peas and other pulses is limited to a few dishes, and these products do not have wide consumer awareness. By contrast, beans are…

While consumption of shelf stable ready meals continued to increase in both 2020 and 2021, growth in this category was curbed due to the surging interest in cooking meals at home from scratch using fresh ingredients that has been seen among the…

Sales in refrigeration appliances have crept back into small positive volume growth, after the category’s previous years of slumps. This is in part attributed to the hot summer season in Vietnam, driving demand for refrigeration appliances which…

Vietnam saw rapid ageing of its population over the review period with the number of people aged 65+ increasing from 7.4 million in 2018 to 9.4 million in 2023. This demographic shift had strong bearing on the performance of retail adult…

In 2023 retail e-commerce in Vietnam continued to see robust rises, recording faster current value sales growth than it did in 2022. Vietnamese consumers are increasingly family with e-commerce marketplaces, drawn to the very frequent offer of a…

Retail in Vietnam struggled in 2023, facing pressures from inflation and a weakening export market, among other things. Local consumers cut back on spending which negatively impacted several retail categories, including appliances and electronics…