PROSPECTS AND OPPORTUNITIES
Ready meals set to record significant retail volume growth, driven by demand for convenient and safe options
Ready meals in Vietnam is set to experience significant retail volume and current value growth over the forecast period, driven by the increased demand for convenient dishes. Local manufacturers are tapping into this demand by developing products that cater to the Vietnamese palate.
Growing prominence of modern off-trade channels and e-commerce set to drive the growth of ready meals
Ready meals in Vietnam is expected to be increasingly shaped by the growing importance of modern off-trade channels such as supermarkets and hypermarkets in the retail landscape of the category. In the forecast period such channels are expected to play a more prominent role, especially in urban areas, where convenience-driven products such as ready meals are popular amongst younger consumers.
Greater availability of international dishes expected, and diversity in frozen ready meals
As tastes evolve and consumer preferences diversify, players in ready meals are expected to introduce a broader range of products to meet the demand for variety. Chilled and frozen ready meals are still in the early stages of development in Vietnam, therefore presenting an opportunity for brands to innovate and introduce new products.
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Overview:
Understand the latest market trends and future growth opportunities for the Meals and Soups 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 a comprehensive range of core packaged food categories.
If you're in the Meals and Soups 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 Meals and Soups in Vietnam report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- 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 Meals and Soups in Vietnam?
- Which are the leading brands in Meals and Soups in Vietnam?
- How are products distributed in Meals and Soups in Vietnam?
- How is the rise of e-commerce and/or the expansion of modern grocery retail impacting traditional retail?
- What are the key health and wellness concerns driving, or challenging, sales in Meals and Soups?
- How significant are vegan and vegetarian dietary requirements in determining sales growth in Vietnam?
- How has COVID-19 impacted consumer demand? To what extent have lockdown, home seclusion and stockpiling boosted sales? Will the longer term economic repercussions of the pandemic stimulate or suppress future growth?
- Where is future growth expected to be most dynamic?
- How significant will values-based claims, such as sustainability and ethical labelling, be in supporting future growth and brand equity?
Meals and Soups in Vietnam - Category analysis
KEY DATA FINDINGS
Ready meals faces challenges from economic uncertainty, with players focusing on affordability and distribution
In 2024 ready meals continues to be led by Vissan Co Ltd
Frozen ready meals sees greater diversity in snacking products
Ready meals set to record significant retail volume growth, driven by demand for convenient and safe options
Growing prominence of modern off-trade channels and e-commerce set to drive the growth of ready meals
Greater availability of international dishes expected, and diversity in frozen ready meals
Cooking Ingredients and Meals in Vietnam - Industry Overview
Cooking ingredients and meals in 2024: The big picture
Key trends in 2024
Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
The following categories and subcategories are included:
Meals and Soups
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- Dried Ready Meals
- Shelf Stable Ready Meals
- Chilled Ready Meals
- Frozen Ready Meals
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- Dry Soup
- Shelf Stable Soup
- Chilled Soup
- Frozen Soup
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- Chilled Pizza
- Frozen Pizza
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- Meal Kits
- Quick Recipe Kits
- Chilled Lunch Kits
- Prepared Salads
Meals and Soups
This is the aggregation of ready meals, pizza, food kits, prepared salads, and soup. Includes: These are products that have had recipe 'skills' added to them by the manufacturer, resulting in a high degree of readiness, completion and convenience. Food kits is an exception where typically the extent of preparation is much shorter than other meal products; includes meal kits where consumers are to put together pre-portioned ingredients and cook with the guidance of recipe cards. Ready meals are generally accepted to be complete meals that require few or no extra ingredients. However, in the case of shelf stable ready meals, the term also encompasses meal 'centres’; for food kits, they do require a degree of cooking and preparation. As such, some meals may require cooking (ready-to-cook); others may simply need reheating, prior to serving (ready-to-eat). Excludes: Any products sold unpackaged and/or by weight, including food sold from a retail deli counter.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- 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 Meals and Soups research and analysis database.
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