Fresh food in 2024: The big picture
Vietnam’s fresh food industry was impacted by the country’s economic downturns in 2024. Household income, especially that of low- and mid-income consumers, declined and people cut down on their spending, shifting away from high-priced products such as imported meat and seafood.
2024 key trends
Health and wellness trends continued to influence consumer behaviour in terms of buying fresh food, with an increasing focus on seeking out products boasting clear health positioning. At the same time, rising eco-consciousness supported the ongoing shift towards sustainable products.
Retailing developments
Online shopping for fresh food rose robustly in Vietnam in 2024. Local consumers now purchase their fresh food products more and more through the e-commerce channel, thanks to improvements in logistics, costs, and the very many promotions available only online.
What next for fresh food?
Fresh food in Vietnam will increasingly come under stricter governmental control, helping to stabilise price indexes and push more exports more effectively. Branded products are gaining ground and will continue to do so throughout the forecast period as consumers shift towards those items that are transparent in terms of origin and production and can thus convincingly assure product quality.
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Overview:
Understand the latest market trends and future growth opportunities for the Fresh Food industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Eggs
- Fish and Seafood
- Fruits
- Meat
- Nuts
- Pulses
- Starchy Roots
- Sugar and Sweeteners
- Vegetables
If you're in the Fresh Food industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Fresh Food in Vietnam report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Fresh Food in Vietnam?
- What is the impact of commodity price fluctuations on local production and consumption?
- What are the key campaigns or legislation driving Fresh Food sales?
- How are consumer attitudes towards fresh food evolving?
- How significant is health and wellness in shaping consumer demand?
- Where is future growth expected to be most dynamic?
Fresh Food in Vietnam
Fresh food in 2024: The big picture
2024 key trends
Retailing developments
What next for fresh food?
DISCLAIMER
Eggs in Vietnam
KEY DATA FINDINGS
Eggs sees stable growth in 2024, supported by government control, e-commerce expansion and investment in branding
Competition intensifies for eggs in Vietnam, with players eyeing export opportunities to Muslim and other markets
Branded eggs set to rise robustly throughout the forecast period
Domestic market will see greater impact from exports
Fish and Seafood in Vietnam
KEY DATA FINDINGS
Financial pressures impact consumer purchasing patterns in 2024
Manufacturers give greater attention to domestic market
Fish and seafood will see steady growth throughout forecast period
Recovery in exports expected to impact domestic market
Fruits in Vietnam
KEY DATA FINDINGS
Imported fruits expand in Vietnam in 2024
Building brands for local fruits bolsters local demand as authorities ramp up controls to improve safety and transparency
Development in logistics and rising health awareness will boost future demand for fruits
Exports to continue to impact domestic market throughout forecast period
Meat in Vietnam
KEY DATA FINDINGS
African swine fever continues to disrupt pork, while prices across the meat category hamper overall growth
Major players expand to dominate the market as new regulation forces out smaller competitors
Branded chilled meat set to gain greater ground, though will remain niche for forecast period
Players are investing more in sustainability, while frozen meat will see further growth
Nuts in Vietnam
KEY DATA FINDINGS
Category records solid growth as government keeps a close eye on peanuts
Social media activity boosts demand for imported nuts
Nuts will see further solid growth during the forecast period
Snacking as key occasion for nut consumption
Pulses in Vietnam
KEY DATA FINDINGS
Demand remains stable despite economic downturn
Expansion of e-commerce pushes pulses further
Health and wellness trends will support greater growth in forecast period
Packaged pulses set to see gradual rises
Starchy Roots in Vietnam
KEY DATA FINDINGS
Locally produced potatoes struggle to compete with imported options
Starchy roots benefits from its products’ versatility
Government responds to domestic surplus problems
Sustainability will continue to support stable supply, with PepsiCo continuing to expand sustainable potato production in Vietnam
Sugar and Sweeteners in Vietnam
KEY DATA FINDINGS
Branded sugar sees good growth in 2024
Consumption of sugar remains stable despite downturn in economy
Health-consciousness may undermine greater growth during forecast period
Vietnamese government will remain invested in supporting domestic sugar production
Vegetables in Vietnam
KEY DATA FINDINGS
Vegetable prices soar amid extreme weather events
Wet markets maintain the key channels for vegetables
Consumption of vegetables set to rise throughout forecast period
Clean and organic vegetables to gain greater ground in Vietnam
The following categories and subcategories are included:
Fresh Food
- Eggs
-
- Crustaceans
- Fish
- Molluscs and Cephalopods
-
- Apples
- Banana
- Cherries
- Cranberries/Blueberries
- Grapefruit/Pomelo
- Grapes
- Kiwi Fruit
- Lemon and Limes
- Oranges, Tangerines and Mandarins
- Peaches/Nectarines
- Pears/Quinces
- Pineapple
- Plums/Sloes
- Strawberries
- Other Fruits
-
- Beef and Veal
- Lamb, Mutton and Goat
- Pork
- Poultry
- Other Meat
-
- Almonds
- Coconuts
- Peanuts (Groundnuts)
- Pistachio
- Walnuts
- Other Nuts
-
- Beans
- Peas
- Other Pulses
-
- Cassava
- Potatoes
- Sweet Potatoes
- Other Roots
- Sugar and Sweeteners
-
- Cauliflowers and broccoli
- Maize
- Onion
- Tomatoes
- Other Vegetables
Fresh Food
Fresh Food refers only to fresh uncooked and unprocessed foods (packaged and unpackaged). Packaged sugar products and natural sweeteners (e.g. brown sugar, table sugar, molasses) are also included. For Fresh Food, we research total sales across distribution channels including retail, foodservice and institutions. For a selected 18 markets, we have a breakdown of total fresh food sales according to the following formats: • Retail • Foodservice sales • Institutional sales Retail Retail sales is defined as sales through all legal establishments primarily engaged in the sale of fresh, packaged and prepared foods for home preparation and consumption. Retail sales excludes sales to hotels, restaurants, cafés, duty free sales and institutional sales (canteens, prisons/jails, hospitals, army, etc). Our retail definition excludes the purchase of food products from foodservice outlets for consumption off-premises, eg grilled chicken/meat/fish bought from counters of cafés/bars. This falls under foodservice sales. For foodservice, we capture all sales to foodservice outlets, regardless of whether the products are eventually consumed on-premise or off-premise. We estimate sales through the following channels: Modern Grocery Retailers • Supermarkets • Hypermarkets • Discounters • Convenience stores • Forecourt retailers Traditional Grocery Retailers • Independent small grocers • Food/Drink/Tobacco Specialists • Other grocery retailers (morning/speciality/open/wet/farmers’ markets, stalls and kiosks, etc) Non-grocery retailers • Health and beauty specialist retailers • Other non-grocery retailers Non-store retailers • Homeshopping • Internet retailing • Vending • Direct selling Foodservice Foodservice sales are defined as sales TO consumer foodservice outlets that serve the general public in a non-captive environment. In other words, this means that the foodservice volumes track sales of all fresh food going into restaurant kitchens, regardless of what the restaurant actually does with that food. Foodservice outlets include cafés/bars, FSR (full-service restaurants), fast food, 100% home delivery/takeaway, self-service cafeterias and street stalls/kiosks. Sales to semi-captive foodservice outlets are also included. This describes outlets located in leisure, travel and retail environments. • Retail refers to foodservice units located in retail outlets such as department stores, shopping malls, shopping centres, super/hypermarkets etc. • Leisure refers to foodservice units located in leisure establishments such as museums, health clubs, cinemas, theatres, theme parks and sports stadiums. • Travel refers to foodservice units based in airports, rail stations, coach stations, motorway service stations offering gas facilities etc. Institutional sales Institutional sales is defined as sales to captive foodservice units that serve captive populations such as in hospitals, schools, prisons, military camps, hotels, hostels, nursing homes, homes for elderly people, religious houses, etc.
See all of our definitionsWhy buy this report?
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- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Fresh Food research and analysis database.
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