Minh-Ngoc Nguyen
Research Expert covering Vietnam
FMCG market in Vietnam - statistics & facts
The fast-moving consumer goods (FMCG) industry in Vietnam has been growing rapidly in recent years. With a population of nearly 100 million people, Vietnam offers a wide consumer base for FMCG companies to tap into. The country’s rising middle class, higher income levels, and shifting consumer preferences are the main contributors to the expansion of the FMCG sector. Following a prolonged period of enduring significant impacts from the COVID-19 pandemic, Vietnam's FMCG sector has been witnessing a noticeable recovery.
The FMCG market in Vietnam is highly competitive, with both local and international players striving for a share of the market. International consumer goods companies such as the Korean Masan Group, Japanese Ajinomoto, and the multinational Unilever own the majority of the most chosen FMCG brands in Vietnam. Meanwhile, several Vietnamese corporations have also secured their positions among the leading consumer goods brands across the country. For instance, despite the entrance of many foreign brands into the market, the local company Vinamilk dominates the country’s dairy industry, holding almost half of the market share.
The FMCG market landscape in Vietnam
One of the key drivers of the FMCG market expansion in Vietnam is urbanization. As more people move to cities, their purchasing power increases, leading to higher demand for FMCG products. Additionally, the growing number of modern retail channels, such as supermarkets, hypermarkets, and convenience stores, has made FMCG products more accessible to consumers across the country. Although expenditure on FMCG products among the urban population has been much higher than that of their rural counterparts, the gap is narrowing fast. Despite the differences in spending patterns, personal care, home care, and beverages have been the FMCG categories with the highest value growth rate in recent years, regardless of the degree of urbanization.The FMCG market in Vietnam is highly competitive, with both local and international players striving for a share of the market. International consumer goods companies such as the Korean Masan Group, Japanese Ajinomoto, and the multinational Unilever own the majority of the most chosen FMCG brands in Vietnam. Meanwhile, several Vietnamese corporations have also secured their positions among the leading consumer goods brands across the country. For instance, despite the entrance of many foreign brands into the market, the local company Vinamilk dominates the country’s dairy industry, holding almost half of the market share.
