Masan Food is Vietnam's largest culinary and convenience food company with well known brands such as Chin-Su, Nam Ngu, Tam Thai Tu,Rong Viet, Tien Vua and Omachi.
Masan’s Food’s product innovation, focus on health, branding expertise and deep understanding of Vietnamese consumers’ taste have allowed the company to quickly capture market share. Our brands, Tam Thai Tu and Nam Ngu, captured number 1 position in the soy market and fish sauce market, respectively, one year after their launching. For four straight years in a row, Masan Food was voted the #1 brand in the sauce and seasoning category by Saigon Tiep Thi (Saigon Marketing), Vietnam’s most prestigious marketing trade journal.
Sector Overview
With a young and dynamic population of over 86 million people and rising GDP per capita, Vietnam has the fastest FMCG growth rate in Asia and is a compelling market for consumer companies. In particular, the food and beverage sector stands to benefit the most as it comprises the largest component of Vietnam’s retail industry and accounts for nearly two third of total retail sales.
Industry Trends that will Benefit Masan Food
The forecasted 20% average growth rate per annum for the food and beverage sector is driven by an increasing budget for food and beverage and rising income. The estimated market size for processed food and beverages (excluding alcohol) is US$3 billion and US$2 billion, respectively.
Transition from Unbranded to Branded
- Recent scandals from food containing unhealthy substances have raised concerns for food safety
- There is a huge variability in the consistency of quality of unbranded products
Local Taste as a Barrier to Entry
- Vietnamese local taste is unique and does not overlap very much with international products, creating a challenge for multinational group
- Multinationals present also do not have the critical mass to justify a massive step-up of local development resources
- Market is still fragmented in many segments, providing an opportunity for a strong, professional local player such as Masan Food to consolidate