PROSPECTS AND OPPORTUNITIES
Limited usage of sweet spreads offers potential for growth through extended distribution and marketing efforts
Sweet spreads in Vietnam is expected to experience positive total volume growth in the forecast period. Currently, the per capita consumption of sweet spreads is relatively low, but this provides opportunities for growth, as these products have the potential to become more integrated into Vietnamese daily life.
Small local grocers expected to remain the main retail channel for sweet spreads
The main retail channel for sweet spreads in Vietnam is expected to remain small local grocers over the forecast period. However, modern offline distribution channels such as supermarkets and hypermarkets increased in significance over the review period, and this is expected to continue over the forecast period.
Brands likely to target gifting occasions to effectively position products that are perceived as non-essential
Sweet spreads has yet to reach widespread adoption in households across Vietnam, therefore presenting a significant opportunity for growth. One strategy that has gained traction, and is expected to continue to do so in the forecast period, is targeting gifting occasions.
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Overview:
Understand the latest market trends and future growth opportunities for the Sweet Spreads 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 Sweet Spreads 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 Sweet Spreads 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 Sweet Spreads in Vietnam?
- Which are the leading brands in Sweet Spreads in Vietnam?
- How are products distributed in Sweet Spreads 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 Sweet Spreads?
- 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?
Sweet Spreads in Vietnam - Category analysis
KEY DATA FINDINGS
Sweet spreads exhibits continued total volume growth despite a lack of marketing activities
Honey appeals through its health benefits, while players focus on boosting product visibility through e-commerce
Sweet spreads continues to be led by Golden Farm in 2024, although the category remains fragmented
Limited usage of sweet spreads offers potential for growth through extended distribution and marketing efforts
Small local grocers expected to remain the main retail channel for sweet spreads
Brands likely to target gifting occasions to effectively position products that are perceived as non-essential
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Competitive landscape
Channel developments
What next for cooking ingredients and meals?
DISCLAIMER
Sweet Spreads
Excludes: Any products sold unpackaged or in bulk; margarine, butter substitutes, vegetable-oil based, yeast-based, and meat/seafood-based spreads.
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 Sweet Spreads research and analysis database.
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