Vietnam Frozen Food Market By Category, (, By Product Type, By Distribution Channel, By Region, Competition, Forecast Opportunities, 2026F
- July 2021 •
- 81 pages •
- Report ID: 6105542 •
- Format: PDF
Vietnam Frozen Food Market By Category, ((Ready-to-Eat, Ready-to-Cook & Others (Raw Meat, Raw Vegetables, Raw Fruit, etc.)), By Product Type (Frozen Meat, Poultry, & Seafood, Frozen Snacks, Frozen Fruits & Vegetables, Frozen Desserts, Frozen Cooked Ready Meals, & Others), By Distribution Channel (Departmental Stores, Specialty Stores, Supermarket/Hypermarket, Online & Others (Convenience Stores, Direct Sales, etc.)), By Region, Competition, Forecast Opportunities, 2026F
Vietnam Frozen food market is expected to reach USD2291.28 million by 2026F, growing at a CAGR of 7.26% during the forecast period. Vietnam frozen food market is mainly driven by rising GDP, increasing per capita income, surge in sales through e-commerce, changing consumer perception, enhancement of food quality using irradiation, etc. Frozen food falls under the convenience food category, in which preparation time for the food is extremely short. Convenience is the major factor associated with ready-to-eat food products, bringing significant time savings for consumers. Frozen food meets specific requirements such as convenience, nutritional adequacy, shelf stability, and storage. Post the introduction of retorting technology, sales of frozen food products have spiked due to their superior packaging, taste and flavors. The food habits of people in Vietnam are continuously changing due to busy lifestyle, increasing population, increasing work hours and continuous emigration to urban areas for highly paid jobs.
The COVID-19 outbreak has introduced e-commerce to many Vietnamese consumers who were earlier not very much interested in online grocery shopping and e-payments.By shopping online, they experience the benefits of not going out and variety of places to choose from, among others.
This has resulted in a surge in online demand for grocery products like frozen food, which are normally not key products for the e-commerce sector.For instance, the sales of online platform Shopee increased by 25% after the COVID-19 outbreak.
The outbreak of pandemic led to the increased sales of frozen food via online channel.
The Vietnam frozen food market is segmented into by category, by product type, by distribution channel, by region and by company. In terms of category, the market can be segregated into Ready-to-Eat, Ready-to-Cook & Others (Raw Meat, Raw Vegetables, Raw Fruit, etc.). Among these, Ready to eat category dominated the market with more than 25% market share in Vietnam frozen food market in 2020 whereas Ready-to-Cook is the fastest growing category in the country’s frozen food market because of the convenience it provides. Furthermore, people prefer to ready-to-cook frozen food because it saves their time, energy, and money. Furthermore, as people’s standard of living is rising because of rising income levels, they are changing their taste preferences and favoring ready-to-cook frozen foods over home-cooked food.
Regionally, the Vietnam frozen food market has been segmented into various regions including Northern, Southern and Central. Among these, Northern region dominated the Vietnam frozen food market in 2020 and is the leading market followed by Southern region on account of growing middle class population base and rising disposable income.
Some of the leading players in Vietnam frozen food market are CP Vietnam Livestock Joint Stock Company, MINH PHU SEAFOOD CORP., SAO TA FOODS JOINT STOCK COMPANY, VINH HOAN CORPORATION, GreenFeed Vietnam Corp., KIDO FOODS JOINT STOCK COMPANY, Viet Asia Foods Company Limited, CK Frozen Foods Vietnam Company Ltd, DALAT - JAPAN FOOD CO. LTD, and others.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021E
Forecast Period: 2022F-2026F
Objective of the Study:
• To analyze the historical growth in the market size of the Vietnam frozen food market from 2016 to 2020.
• To estimate and forecast the market size of the Vietnam frozen food market from 2021E to 2026F and growth rate until 2026F.
• To define, classify and forecast the Vietnam frozen food market based on by category, by product type, by distribution channels, by region and by company.
• To identify the dominant region or segment in the Vietnam frozen food market.
• To identify drivers and challenges for the Vietnam frozen food market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc. in the Vietnam frozen food market.
• To identify and analyze the profile of leading players operating in the Vietnam frozen food market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the Vietnam.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst was able to include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the Vietnam frozen food market.
The analyst calculated the market size of the Vietnam frozen food market using a bottom-up & top-down approach, wherein data for various product type segments were recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and distribution channels for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by the analyst.
Key Target Audience:
• Frozen food manufacturers, suppliers, distributors and other stakeholders.
• Government bodies such as regulating authorities and policy makers.
• Market research and consulting firms.
• Organizations, forums and alliances related to frozen food.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Vietnam frozen food market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Vietnam Frozen Food Market, By Category:
• Vietnam Frozen Food Market, By Product Type:
Frozen Meat, Poultry, & Seafood
o Sausages and Hotdogs
o Frozen Dumplings
o Frozen Meatballs
o Frozen Nuggets
o Breaded Snacks
o Frozen Springrolls
o Frozen Fishballs
o Others (Fritter, Rolls, Fries, etc.)
Frozen Fruits & Vegetables
o Frozen Vegetable
o Frozen Fruit
Frozen Cooked Ready Meals
• Vietnam Frozen Food Market, By Distribution Channel:
• Vietnam Frozen Food Market, By Region:
Company Profiles: Detailed analysis of the major companies present in Vietnam frozen food market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).