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Vietnam Food and Drink Report Q1 2010
Business Monitor International, Nov 2009, Pages: 67
Business Monitor International's Vietnam Food and Drink Report provides industry professionals and strategists, corporate analysts, food and drink associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Vietnam's food and drink industry.
The Vietnamese economy continues to improve, and as such the publisher has revised their 2009 real GDP forecast up from 4.5% to 5.1%. This quarter has seen a number of the country’s food and drink producers announce investment plans, while its retailers continue to proceed with expansion plans.
One such company investing in the country is US soft drinks behemoth The Coca-Cola Company (TCCC) who announced in September that it would invest US$200mn in Vietnam over the next three years. With soft drink sales in 2014 forecast to increase 36.9% to reach VND7.59trn, it is not surprising that the sector is attracting ever-greater attention and this latest investment by TCCC will help the company defend its share of what is becoming an increasingly competitive market.
Another sector of the drinks industry witnessing intensifying competition is the beer market. In a bid to pursue sales growth in what is fast becoming an oversupplied industry, this quarter has seen Danish brewing giant Carlsberg announce that it has upped its 16.07% stake in Vietnamese brewer Hanoi Beer Alcohol and Beverage Corporation (Habeco) to 30%. Beer sales in the country are expected to increase 33.8% to reach 2.4mn litres in 2014 and Carlsberg is keen to exploit this growth.
In the mass grocery retail sector, Metro Cash and Carry Vietnam, the local subsidiary of German wholesale giant Metro AG announced that it is to open five new stores in the country to add to its existing network of nine stores. Also continuing with expansion plans to open 50 supermarkets nationwide by the end of the year is local retailer Saigon Co-op, which invested VND85bn (US$4.7mn) in opening its 40th supermarket in October.
However, it is not all positive news and this quarter saw seafood company Nam Viet Corporation report a loss of VND80.26bn (US$4.5mn) for H109 compared with a net profit of VND154.55bn (US$8.6mn) for H108, signifying the pressures that still face food producers in the country.
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