Vietnam Infant Formula Market- Trend Analysis & Forecasts
Description
Vietnam's Infant Formula Market Overview:
Vietnam's infant formula market was valued at US$ 1.91 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.25% from 2020 to 2030. This growth is driven by factors such as rising incomes, urbanization, and increasing awareness of infant nutrition. The market is characterized by a mix of domestic and international players, with major global brands establishing a strong presence in Vietnam. Domestic companies are also gaining traction by offering affordable alternatives tailored to local preferences.
Primary Areas/ Elements of Research & Analysis
The report provides comprehensive and valuable insights into the supply and demand dynamics of the Vietnam infant formula market. Below are the variables considered and analyzed in the report:
• Supply-demand trends, market growth, and trade (exports & imports)
• Market structure, conduct, and performance analysis
• Historical and forecasted market size (volume & value)
• Trade analysis, including key partners, quantities, values, and price trends
• Supply chain mapping, pricing, and regulatory framework
• Competitive landscape profiling of key players
• Factors influencing market performance, including sustainability trends
Market Growth Factors
Key drivers contributing to the market's expansion include rising disposable incomes, particularly in urban areas, which have led to a greater willingness among consumers to invest in high-quality infant nutrition products. Urbanization has also played a crucial role by influencing lifestyle changes and driving demand for convenient and premium offerings. Government initiatives focused on improving child nutrition and health have further stimulated the market, encouraging both domestic and international companies to broaden their product ranges. Additionally, demographic trends such as Vietnam's young population and rising birth rates continue to support the growing demand for infant formula.
Market Restraints
Despite positive trends, the market faces challenges such as competition from breastfeeding advocacy campaigns and the availability of alternative infant nutrition options. Additionally, fluctuations in raw material prices and regulatory complexities can impact market dynamics.
Market Segmentation
The Vietnam infant formula market is segmented by product type, including standard infant formula, follow-on formula, and specialty formula. Distribution channels encompass supermarkets, pharmacies, and online platforms, each playing a role in product accessibility and consumer reach.
Competitive Landscape
The market features a mix of domestic and international players. Major companies like Vinamilk, Nestlé, Abbott, and FrieslandCampina dominate the market, leveraging strong brand recognition and extensive distribution networks. The competitive landscape is characterized by brand loyalty, product innovation, and strategic marketing efforts.
Outlook
Vietnam's infant formula market is poised for continued growth through 2030. The industry's focus on product innovation, health-oriented formulations, and expansion of distribution channels is expected to sustain market momentum. Advancements in manufacturing technology and increasing foreign investment will further enhance the market's prospects.
Scope of the Report:
• Historical Years: 2015-2022
• Base Year: 2023
• Forecast Period: 2024-2030
• Units: Value (US$ Million) and Volume (Thousand Tonnes)
• Report Coverage: Production, Consumption, Export, and Import
• Segments Covered:
By Type (Infant Milk, Follow-on-Milk, and Others)
By Form (Dry Powder and Ready-to-Feed)
By Sales (Domestic Consumption and Exports/ Imports)
• Companies Profiled: The market players include, Vinamilk, Nestlé Vietnam, Abbott Laboratories, Mead Johnson Nutrition, FrieslandCampina, Danone, Nutifood, Morinaga Milk Industry, Dairygoat Vietnam, XO Vietnam, Royal FrieslandCampina, Fonterra Co-operative Group, Hero Baby Vietnam, Heinz Vietnam, Wakodo Co., Ltd., and Others.
Scope of the Report: It will take 4-5 business days to deliver the report upon receipt the order.
Vietnam's infant formula market was valued at US$ 1.91 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.25% from 2020 to 2030. This growth is driven by factors such as rising incomes, urbanization, and increasing awareness of infant nutrition. The market is characterized by a mix of domestic and international players, with major global brands establishing a strong presence in Vietnam. Domestic companies are also gaining traction by offering affordable alternatives tailored to local preferences.
Primary Areas/ Elements of Research & Analysis
The report provides comprehensive and valuable insights into the supply and demand dynamics of the Vietnam infant formula market. Below are the variables considered and analyzed in the report:
• Supply-demand trends, market growth, and trade (exports & imports)
• Market structure, conduct, and performance analysis
• Historical and forecasted market size (volume & value)
• Trade analysis, including key partners, quantities, values, and price trends
• Supply chain mapping, pricing, and regulatory framework
• Competitive landscape profiling of key players
• Factors influencing market performance, including sustainability trends
Market Growth Factors
Key drivers contributing to the market's expansion include rising disposable incomes, particularly in urban areas, which have led to a greater willingness among consumers to invest in high-quality infant nutrition products. Urbanization has also played a crucial role by influencing lifestyle changes and driving demand for convenient and premium offerings. Government initiatives focused on improving child nutrition and health have further stimulated the market, encouraging both domestic and international companies to broaden their product ranges. Additionally, demographic trends such as Vietnam's young population and rising birth rates continue to support the growing demand for infant formula.
Market Restraints
Despite positive trends, the market faces challenges such as competition from breastfeeding advocacy campaigns and the availability of alternative infant nutrition options. Additionally, fluctuations in raw material prices and regulatory complexities can impact market dynamics.
Market Segmentation
The Vietnam infant formula market is segmented by product type, including standard infant formula, follow-on formula, and specialty formula. Distribution channels encompass supermarkets, pharmacies, and online platforms, each playing a role in product accessibility and consumer reach.
Competitive Landscape
The market features a mix of domestic and international players. Major companies like Vinamilk, Nestlé, Abbott, and FrieslandCampina dominate the market, leveraging strong brand recognition and extensive distribution networks. The competitive landscape is characterized by brand loyalty, product innovation, and strategic marketing efforts.
Outlook
Vietnam's infant formula market is poised for continued growth through 2030. The industry's focus on product innovation, health-oriented formulations, and expansion of distribution channels is expected to sustain market momentum. Advancements in manufacturing technology and increasing foreign investment will further enhance the market's prospects.
Scope of the Report:
• Historical Years: 2015-2022
• Base Year: 2023
• Forecast Period: 2024-2030
• Units: Value (US$ Million) and Volume (Thousand Tonnes)
• Report Coverage: Production, Consumption, Export, and Import
• Segments Covered:
By Type (Infant Milk, Follow-on-Milk, and Others)
By Form (Dry Powder and Ready-to-Feed)
By Sales (Domestic Consumption and Exports/ Imports)
• Companies Profiled: The market players include, Vinamilk, Nestlé Vietnam, Abbott Laboratories, Mead Johnson Nutrition, FrieslandCampina, Danone, Nutifood, Morinaga Milk Industry, Dairygoat Vietnam, XO Vietnam, Royal FrieslandCampina, Fonterra Co-operative Group, Hero Baby Vietnam, Heinz Vietnam, Wakodo Co., Ltd., and Others.
Scope of the Report: It will take 4-5 business days to deliver the report upon receipt the order.
Table of Contents
135 Pages
- 1. Executive Summary
- 2. Introduction
- 2.1. Objectives & Scope of the Study
- 2.2. Definitions & Economic Importance
- 2.3. Research Methodology
- 2.4. Factors and Decision Matrix Analysis
- 2.5. Limitations & Challenges
- 3. Product/ Market Overview
- 3.1. Product Importance and Economic Significance
- 3.2. Global Vs. Vietnam Infant Formula Market Comparison
- 3.3. Processing & Grading
- 3.4. Infant Formula Uses & Application Areas
- 3.5. Regulatory Analysis
- 4. Vietnam: Country Profile
- 5. Vietnam Infant Formula Market Growth Factors Analysis
- 5.1. Drivers and Restraints Analysis
- 5.2. Challenges and Opportunities Analysis
- 5.3. Vietnam Infant Formula Industry SWOT Analysis
- 5.4. Vietnam Infant Formula Market PESTEL Analysis
- 5.5. Vietnam Infant Formula Market Porter's Five Forces analysis
- 6. Vietnam Infant Formula Market: Supply Analysis
- 6.1. Vietnam Infant Formula Production Trend Analysis
- 7. Vietnam Infant Formula Market: Demand Analysis
- 7.1. Domestic Consumption
- 7.2. Export/ Import Demand
- 7.3. Infant Formula Supply Chain Analysis
- 7.4. Infant Formula Product Variants
- 8. Vietnam Infant Formula Market: Segment Analysis
- 8.1. Vietnam Infant Formula Market, by Type
- 8.1.1. Infant Milk
- 8.1.2. Follow-on-Milk
- 8.1.3. Others
- 8.2. Vietnam Infant Formula Market, by Form
- 8.2.1. Dry Powder
- 8.2.2. Ready-to-Feed
- 8.3. Vietnam Infant Formula Market, by Sales
- 8.3.1. Domestic Consumption
- 8.3.2. Exports
- 9. Vietnam Infant Formula Market: Trade (Export & Import) Analysis
- 9.1. Infant Formula Export Trend Analysis
- 9.2. Top 5 Export Destinations of Vietnam Infant Formula
- 10. Vietnam Infant Formula Market: Price Trend Analysis
- 10.1. Domestic Price Analysis
- 10.2. Export Price Trend
- 10.3. Price Seasonality & Price Pattern Analysis
- 10.4. Price Events Analysis
- 11. Competitive Analysis
- 11.1. Vietnam Infant Formula Market Mapping
- 11.1.1. List of Key Countries Importing Infant Formula from Vietnam
- 11.1.2. List of Key Companies Exporting & Importing Infant Formula from Vietnam
- 11.2. Company Profiles
- 11.2.1. Vinamilk
- 12.2.2. Nestlé Vietnam
- 11.2.2. Abbott Laboratories
- 11.2.2. Mead Johnson Nutrition
- 11.2.2. FrieslandCampina
- 11.2.2. Danone
- 11.2.2. Nutifood
- 11.2.2. Morinaga Milk Industry
- 11.2.2. Dairygoat Vietnam
- 11.2.2. XO Vietnam
- 11.2.2. Fonterra Co-operative Group
- 11.2.2. Hero Baby Vietnam
- 11.2.2. Heinz Vietnam
- 11.2.2. Wakodo Co., Ltd.
- 12. Conclusion
- 13. Appendix
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