Report Overview

Vietnam Packaged Food Market – Industry Trends & Forecast Report, 2031

Vietnam Packaged Food Market size was estimated at USD 21.53 billion in 2024. During the forecast period between 2025 and 2031, Vietnam Packaged Food Market size is projected to grow at a CAGR of 7.5% reaching a value of USD 35.73 billion by 2031. Prominent drivers of Vietnam Packaged Food Market include an increasing demand for convenient meal solutions that require minimal preparation time, particularly among busy consumers. The widespread availability of packaged food across supermarkets, retail outlets, and online platforms enhances accessibility and market reach. Technological advancements in food preservation and packaging, such as the use of nanotechnology, are improving shelf life, safety, and sustainability, thereby boosting consumer confidence. The market is further fueled by the rising popularity of ready to eat meals, microwaveable snacks, and precut produce, which cater to fast paced lifestyles. Additionally, growing health awareness and diverse dietary preferences have led to the emergence of specialized options like gluten free, vegan, and allergen free foods. While concerns around food safety and contamination remain a challenge, stringent regulations and quality control measures are helping address these issues. The expanding e commerce sector and growing middle class population also play a vital role in driving Vietnam Packaged Food Market.

Packaged Food – Overview

Packaged food refers to food items that are processed, preserved, and sealed in containers such as boxes, cans, pouches, or plastic wraps for retail sale and consumption. These products undergo varying levels of processing, including cooking, freezing, or adding preservatives, to enhance shelf life and safety. Common examples include snacks, frozen meals, canned goods, and ready-to-eat items. Packaging not only protects food from contamination and damage but also provides essential information such as nutritional content, ingredients, and expiration dates. Packaged food offers convenience, portion control, and ease of storage, making it popular among busy consumers and urban households.

Vietnam Packaged Food Market

Growth Drivers

Rising Urbanization and Busy Lifestyles

Rapid urbanization and the fast-paced lifestyles of consumers across major Vietnamese cities are significantly driving Vietnam Packaged Food Market. As more people migrate to urban areas for employment and education, the shift in dietary habits becomes evident, with a growing preference for convenience-oriented food options. Busy professionals and students are increasingly opting for ready to eat (RTE), frozen, and on-the-go meals that save time and effort in meal preparation. This rising reliance on packaged food is also influenced by the increasing availability of such products through modern retail outlets and online platforms. The trend reflects a broader transformation in Vietnam’s food consumption patterns, where health, convenience, and time-efficiency are key priorities.

Challenges

Price Sensitivity in Rural and Low Income Segments

Price sensitivity among rural and low income consumers acts as a key restraint in the growth of Vietnam Packaged Food Market. These segments often prioritize affordability over convenience or brand value, limiting their access to premium or value-added packaged food products. High prices compared to traditional, unpackaged alternatives deter widespread adoption, especially in areas with limited disposable income. As a result, companies face challenges in penetrating these markets without compromising on margins, thus impacting overall market expansion.

Impact of Escalating Geopolitical Tensions on Vietnam Packaged Food Market

Escalating geopolitical tensions can significantly impact the growth of Vietnam Packaged Food Market. Disruptions in global trade routes, rising import costs of raw materials, and supply chain uncertainties can lead to increased production expenses for food manufacturers. These tensions may also trigger inflationary pressures, reducing consumer purchasing power and demand for non-essential packaged products. Furthermore, dependency on imported ingredients and packaging materials makes local producers vulnerable to international conflicts and sanctions. Export-driven segments may face reduced access to key markets due to trade restrictions. Overall, geopolitical instability can undermine market stability, limit growth opportunities, and strain both supply and pricing dynamics.

Vietnam Packaged Food Market

Segmental Coverage

Vietnam Packaged Food Market – By Product Type

Based on product type, Vietnam Packaged Food Market is divided into Bakery Products, Dairy Products, Confectionery, Snacks, Ready to Eat (RTE)/Ready to Cook (RTC) Meals, Packaged Meat & Seafood, Breakfast Cereals, Baby Food, Sauces, Dressings, and Condiments, Frozen Food, Canned Food, and Instant Noodles & Pasta segments. The bakery products segment holds the largest share in Vietnam Packaged Food Market by product type. The segment’s market dominance is driven by the widespread popularity of items like bread, cakes, and pastries, which are both versatile and convenient for daily consumption. These products cater to evolving consumer preferences for indulgent treats and nostalgic flavors, often enhanced with innovative ingredients and presentations. Their longer shelf life, when properly packaged, meets the rising demand for convenience and reduced food waste. Additionally, the availability of diverse options, including gluten-free and organic varieties, appeals to health-conscious consumers, further fueling the growth of the bakery segment.

Vietnam Packaged Food Market – By Distribution Channel

Vietnam Packaged Food Market by distribution channel is divided into Supermarkets/Hypermarkets, Convenience Stores, Grocery Stores, Online Retail, Specialty Stores, and other distribution channels segments. The supermarkets/hypermarkets segment holds the largest share of Vietnam Packaged Food Market by distribution channel. The dominance is driven by the convenience these outlets offer, allowing consumers to purchase a wide range of packaged food products in one location, which aligns with their busy lifestyles. Their ability to secure bulk deals from suppliers enables competitive pricing, attracting cost-conscious shoppers. The widespread presence of supermarkets and hypermarkets in urban and suburban areas ensures broad accessibility across income levels. Additionally, their investment in marketing, in-store promotions, and brand visibility supports consumer engagement and boosts sales, further strengthening their position in the market.

Vietnam Packaged Food Market – By End User

On the basis of end user, Vietnam Packaged Food Market is segmented into Flexible Packaging, Rigid Packaging, Paper-based Packaging, Glass Containers, Metal Cans, and other end users.

Competitive Landscape

Major players operating in Vietnam Packaged Food Market include Masan Consumer Holdings (Masan Group), Acecook Vietnam JSC, Vinamilk (Vietnam Dairy Products JSC), Vifon (Vietnam Food Industries JSC), Hai Ha Confectionery (HaiHaCo), Cholimex Food JSC, Mondelez Kinh Đô Corporation, URC Vietnam Company Limited, Perfetti Van Melle (Vietnam), Nestlé Vietnam, and FrieslandCampina (Dutch Lady Vietnam). To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In August 2024 - Marubeni Corporation, via its subsidiary MGCA, increased its stake in AIG Asia Ingredients Corporation to strengthen their strategic alliance.

Scope of the Report

By Product Type

• Bakery Products

• Dairy Products

• Confectionery

• Snacks

• Ready to Eat (RTE)/Ready to Cook (RTC) Meals

• Packaged Meat & Seafood

• Breakfast Cereals

• Baby Food

• Sauces, Dressings, and Condiments

• Frozen Food

• Canned Food

• Instant Noodles & Pasta

By Distribution Channel

• Supermarkets/Hypermarkets

• Convenience Stores

• Grocery Stores

• Online Retail

• Specialty Stores

• Others (Direct Sales, Department Stores)

By Packaging Type

• Flexible Packaging

• Rigid Packaging

• Paper-based Packaging

• Glass Containers

• Metal Cans

• Others (including Biodegradable, Recyclable)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. Vietnam Packaged Food Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Drivers
         1. Rising Urbanization & Busy Lifestyles
         2. Expanding Middle-Class Population with Higher Disposable Income
         3. Increasing Influence of Western & Asian Fusion Diets
      2. Restraints
         1. Price Sensitivity in Rural & Low-Income Segments
         2. Preference for Fresh & Home-Cooked Meals
      3. Opportunities
         1. Rising Health & Wellness Trends
         2. Innovations in Packaging & Shelf-Life Enhancement
      4. Challenges
         1. Highly Fragmented & Competitive Market
         2. Regulatory Hurdles & Compliance Issues
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Vietnam Packaged Food Market: Marketing Strategies
5. Vietnam Packaged Food Market: Pricing Analysis
6. Vietnam Packaged Food Market Overview
   1. Market Size & Forecast, 2019–2031
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Product Type
         1. Bakery Products (Bread, Biscuits, Cakes)
         2. Dairy Products (Milk, Cheese, Yogurt, Butter)
         3. Confectionery (Chocolates, Candies, Gums)
         4. Snacks (Chips, Extruded Snacks, Popcorn)
         5. Ready to Eat (RTE)/Ready to Cook (RTC) Meals
         6. Packaged Meat & Seafood
         7. Breakfast Cereals
         8. Baby Food
         9. Sauces, Dressings, and Condiments
         10. Frozen Food
         11. Canned Food
         12. Instant Noodles & Pasta
      2. By Distribution Channel
         1. Supermarkets/Hypermarkets
         2. Convenience Stores
         3. Grocery Stores
         4. Online Retail
         5. Specialty Stores
         6. Others (Direct Sales, Department Stores)
      3. By Packaging Type
         1. Flexible Packaging
         2. Rigid Packaging
         3. Paper-based Packaging
         4. Glass Containers
         5. Metal Cans
         6. Others (Biodegradable, Recyclable)
7. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Vietnam Packaged Food Market Share Analysis, 2024
      1. Competitive Benchmarking, By Operating Parameters
   3. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
8. Impact of Escalating Geopolitical Tensions on Vietnam Packaged Food Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
   1. Masan Consumer Holdings (Masan Group)
   2. Acecook Vietnam JSC
   3. Vinamilk (Vietnam Dairy Products JSC)
   4. Vifon (Vietnam Food Industries JSC)
   5. Hai Ha Confectionery (HaiHaCo)
   6. Cholimex Food JSC
   7. Mondelez Kinh Đô Corporation
   8. URC Vietnam Company Limited
   9. Perfetti Van Melle (Vietnam)
   10. Nestlé Vietnam
   11. FrieslandCampina (Dutch Lady Vietnam)
   12. Other Prominent Players
10. Key Strategic Recommendations
11. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3.  Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.  Breakdown of Primary Research Respondents, By Region
    5.  Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

List of Figures

Figure 1       Vietnam Packaged Food Market Segmentation                           

Figure 2       Vietnam Packaged Food Market Value Chain Analysis                 

Figure 3       Company Market Share Analysis, 2024

Figure 4       Vietnam Packaged Food Market Size, By Value (USD Billion), 2019–2031                

Figure 5       Vietnam Packaged Food Market Share, By Product Type, By Value, 2019–2031                        

Figure 6       Vietnam Packaged Food Market Share, By Application, By Value, 2019–2031 

Figure 7       Vietnam Packaged Food Market Share, By End-User, By Value, 2019–2031

Figure 8       Vietnam Packaged Food Market Share, By Product Type, By Value, 2019–2031

Figure 9       Vietnam Packaged Food Market Share, By Application, By Value, 2019–2031

Figure 7       Vietnam Packaged Food Market Share, By End-User, By Value, 2019–2031

List of Tables

Table 1         Vietnam Packaged Food Market Size, By Value (USD Billion), 2019–2031

Table 2         Vietnam Packaged Food Market Share, By Product Type , By Value, 2019–2031         

Table 3         Vietnam Packaged Food Market Share, By Application, By Value, 2019–2031

Table 4         Vietnam Packaged Food Market Share, By End-User, By Value, 2019–2031

Table 5         Vietnam Packaged Food Market Share, By Product Type , By Value, 2019–2031

Table 6         Vietnam Packaged Food Market Share, By Application, By Value, 2019–2031

Table 7         Vietnam Packaged Food Market Share, By End-User, By Value, 2019–2031

Table 8         Masan Consumer Holdings (Masan Group) Company Overview

Table 9         Masan Consumer Holdings (Masan Group) Financial Overview

Table 10       Acecook Vietnam JSC Company Overview

Table 11       Acecook Vietnam JSC Financial Overview

Table 12       Vinamilk (Vietnam Dairy Products JSC) Company Overview

Table 13       Vinamilk (Vietnam Dairy Products JSC) Financial Overview

Table 14       Vifon (Vietnam Food Industries JSC) Company Overview

Table 15       Vifon (Vietnam Food Industries JSC) Financial Overview

Table 16       Hai Ha Confectionery (HaiHaCo) Company Overview

Table 17       Hai Ha Confectionery (HaiHaCo) Financial Overview

Table 18       Cholimex Food JSC Company Overview

Table 19       Cholimex Food JSC Financial Overview

Table 20       Mondelez Kinh Đô Corporation Company Overview

Table 21       Mondelez Kinh Đô Corporation Financial Overview

Table 22       URC Vietnam Company Limited Company Overview

Table 23       URC Vietnam Company Limited Financial Overview

Table 24       Perfetti Van Melle (Vietnam) Company Overview

Table 25       Perfetti Van Melle (Vietnam) Financial Overview

Table 26       Nestlé Vietnam Company Overview

Table 27       Nestlé Vietnam Financial Overview

Table 28       FrieslandCampina (Dutch Lady Vietnam) Company Overview

Table 29       FrieslandCampina (Dutch Lady Vietnam) Financial Overview