PROSPECTS AND OPPORTUNITIES
Stable growth expected for sauces, dips and condiments, driven by the growing convenience trend
Over the forecast period, sauces, dips and condiments in Vietnam is set to record stable total volume growth rates, with categories such as fish sauces, soy sauces, and monosodium glutamate continuing to represent the key categories. To cater to the convenience-driven needs of modern consumers, manufacturers are expected to focus on developing products that offer time-saving solutions in various forms.
Brands will need to balance innovation with tradition, and digital engagement with localised strategies in an increasingly competitive market
Sauces, dips and condiments in Vietnam is crowded with a diverse array of both local and international players vying for consumers’ attention. Local players, such as Masan Consumer Group and Cholon Investment & Import-Export Co (CHOLIMEX), continue to have strong positions due to their deep understanding of local tastes, and their ability to cater to niches.
Health trends will continue to drive innovation
Over the forecast period, health-conscious consumers in Vietnam are expected to fuel demand for reformulated products in sauces, dips and condiments, which address concerns about high salt, sugar, and other negative nutrients. This trend is already prompting brands to rethink traditional recipes and incorporate healthier alternatives.
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Overview:
Understand the latest market trends and future growth opportunities for the Sauces, Dips and Condiments 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 Sauces, Dips and Condiments 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 Sauces, Dips and Condiments 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 Sauces, Dips and Condiments in Vietnam?
- Which are the leading brands in Sauces, Dips and Condiments in Vietnam?
- How are products distributed in Sauces, Dips and Condiments 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 Sauces, Dips and Condiments?
- 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?
Sauces, Dips and Condiments in Vietnam - Category analysis
KEY DATA FINDINGS
Sauces, dips and condiments sees slow total volume growth, supported by the essential role of these products, and health-conscious product innovations
Chilli sauces sees a greater variety of both local- and international-inspired flavours
Sauces, dips and condiments continues to be led by Masan Consumer Corp in 2024
Stable growth expected for sauces, dips and condiments, driven by the growing convenience trend
Brands will need to balance innovation with tradition, and digital engagement with localised strategies in an increasingly competitive market
Health trends will continue to drive innovation
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:
Sauces, Dips and Condiments
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- Liquid Stocks and Fonds
- Stock Cubes and Powders
- Gravy Cubes, Powders and Pots
- Monosodium Glutamate
- Herbs and Spices
- Tomato Pastes and Purées
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- Liquid Recipe Sauces (excl pasta sauces)
- Dry Recipe Sauces
- Pasta Sauces
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- Barbecue Sauces
- Fish Sauces
- Ketchup
- Mayonnaise
- Mustard
- Oyster Sauces
- Salad Dressings
- Soy Sauces
- Chili Sauces
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- Dips
- Yeast-based Spreads
- Pickled Products
- Other Sauces and Condiments
Sauces, Dips and Condiments
This is the aggregation of cooking ingredients and condiments, dips, pickled products, sauces, yeast-based spreads, and other sauces, dips and condiments. Excludes: Unpackaged/bulk sauces, dressings and condiments, such as unpackaged herbs and spice or instances where consumers bring an empty contained to be (re)filled. Excludes: Table salt, vinegar, baking ingredients, desiccated coconut, and cooking cream/milk/powder for cooking and baking.
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 Sauces, Dips and Condiments research and analysis database.
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