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Vietnam Food and Drink Report Q4 2011
Business Monitor International, Aug 2011, Pages: 91
Business Monitor International's (BMI) Vietnam Food and Drink Report (Q4 2011) 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 State Bank of Vietnam’s aggressive monetary tightening measures in H11 are expected to take the steam out of domestic demand over the coming quarters. While there are encouraging signs that inflationary pressures are beginning to cool, BMI remain concerned about the impact of monetary tightening on consumer spending. However, given the positive dynamics of low unemployment, strong tourism growth and increasing remittance inflows, there is still considerable scope for optimism in the country’s domestic demand picture in the near term. Over the longer term, the domestic demand picture for Vietnam looks bright. A massive youthful population, sector immaturity and a plethora of macroeconomic driving factors make the Vietnamese consumer goods sector a high-growth prospect.
Headline Industry Data
- 2011 Per Capita Food Consumption = +10.0%; CAGR Forecast to 2015 = +9.6%
- 2011 Alcoholic Drinks Sales = +9.6%; CAGR Forecast to 2015 = +11.2%
- 2011 Soft Drinks Sales = +10.7%; CAGR forecast to 2015 = +7.5%
- 2011 Mass Grocery Retail Sales = +15.1%; CAGR forecast to 2015 = +11.6%
Key Company Trends
Massive Potential Attracts Regional and Equity Players: Japanese dairy product manufacturer Meiji Holdings is planning to double its sales in the region from JPY9.7bn (US$120.0mn) to JPY20bn (US$247.4mn) through a five-year investment plan with its joint venture partner Charoen Pokphand Group. As the dairy markets of Thailand and Malaysia gradually mature over the next decade, it is the opportunities on offer in the relatively underdeveloped dairy markets of Indonesia, Vietnam and the Philippines that catch the eye, and CP-Meiji can look to increase its exposure in these markets to boost its long-term growth.
Ramping Up Investments In The Drinks Sector: The outlook for Vietnam’s alcoholic drinks industry remains very strong as it continues to attract considerable interest from foreign investors. A number of industry majors such as Diageo, Asia Pacific Breweries (APB) and Carlsberg have been attracted by the alcoholic drinks sector’s bright outlook. APB, the joint venture of Singapore’s Fraser & Neave and Dutch giant Heineken, will invest SGD90mn in expanding production at its Ho Chi Minh brewing joint venture by 50%, which will help it cater for rapid growth in Vietnamese beer consumption that BMI expect in 2011 and throughout the forecast period to 2015.
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