The bustling life in modern Vietnamese cities has resulted in the rapid growth of the processed food industry, with domestic products dominating the market.
The strength of the local processed food producers is the ability to create a variety of products bearing Vietnamese tastes, helping to promote the cultural values of Vietnamese cuisines, Deputy Minister of Industry and Trade Ho Thi Kim Thoa was quoted as saying by the Dien Dan Doanh Nghiep (Business Forum) newspaper.
The newspaper also cited a survey conducted by the AC Nielsen market research company in Ho Chi Minh City and Hanoi which found domestic brands to be more popular than foreign ones due to particular tastes of consumers at home.
Meanwhile, the Business Monitor International (BMI) forecasts that the Vietnamese processed food industry will climb by 24.2 percent in volume and 48.7 percent in sales annually.
Strolling around the food stalls at supermarkets such as Co.opmart, Aeon and Big C, consumers are attracted by the diversity and convenience of processed products.
Chairman of the Saigon Co.op, Nguyen Ngoc Hoa, said stores in his chain offer more than 100 kinds of Vietnamese processed foods, and their sales record an annual growth of 20 percent.
Saigon Co.op is promoting investment in modernising its processed food pavilions and recruiting professional sales staff.
Deputy Director of the Saigon Food, Le Thi Thanh Lam, said its processed food is favoured by local consumers due to its reasonable prices and export-quality standards.
Recently Saigon Food invested in building a cold storage and processing plant in anticipation of rising demand, Lam added.
Despite the positive signs, experts warned that the multinational groups are eying this fertile market as part of their long-term strategies. With better established trademarks and more financial backing, these international companies are expected to provide local producers with fierce competition in the near future.-VNA
The strength of the local processed food producers is the ability to create a variety of products bearing Vietnamese tastes, helping to promote the cultural values of Vietnamese cuisines, Deputy Minister of Industry and Trade Ho Thi Kim Thoa was quoted as saying by the Dien Dan Doanh Nghiep (Business Forum) newspaper.
The newspaper also cited a survey conducted by the AC Nielsen market research company in Ho Chi Minh City and Hanoi which found domestic brands to be more popular than foreign ones due to particular tastes of consumers at home.
Meanwhile, the Business Monitor International (BMI) forecasts that the Vietnamese processed food industry will climb by 24.2 percent in volume and 48.7 percent in sales annually.
Strolling around the food stalls at supermarkets such as Co.opmart, Aeon and Big C, consumers are attracted by the diversity and convenience of processed products.
Chairman of the Saigon Co.op, Nguyen Ngoc Hoa, said stores in his chain offer more than 100 kinds of Vietnamese processed foods, and their sales record an annual growth of 20 percent.
Saigon Co.op is promoting investment in modernising its processed food pavilions and recruiting professional sales staff.
Deputy Director of the Saigon Food, Le Thi Thanh Lam, said its processed food is favoured by local consumers due to its reasonable prices and export-quality standards.
Recently Saigon Food invested in building a cold storage and processing plant in anticipation of rising demand, Lam added.
Despite the positive signs, experts warned that the multinational groups are eying this fertile market as part of their long-term strategies. With better established trademarks and more financial backing, these international companies are expected to provide local producers with fierce competition in the near future.-VNA
