Showing posts with label Top Edible Oil Companies in Vietnam. Show all posts
Showing posts with label Top Edible Oil Companies in Vietnam. Show all posts

Friday, January 27, 2023

Vietnam Edible Oil Market is expected to mark a steady growth in the upcoming years, driven by focused marketing, quality assurance, convenience & value to consumer: Ken Research

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Vietnam Edible Oil Market Ecosystem

The Vietnam Edible Oil Market is expected to witness a steady uptick in the upcoming years generating annual revenue growth of ~USD 1 Billion, with high–end consumers planning to purchase more premium products. The market has a total of 40 players with key players being Tuong An, Vocaremix, Kido Nha Be, Calofic & others. A major portion of the market is dominated by Kido’s & Vocarimex.

Key Market Findings:

  • An annual revenue of ~USD 1 Billion, with high-income consumers planning to purchase premium products.
  • In oils and fats segment, volume is expected to increase by 2027 & is expected to show a volume growth of 10.9% in 2023.
  • Vietnam's oil and fats industry will expand annually at a CAGR of 7.7% (2021-2026F) due to rising income levels and the demand for high-quality oil.
  • In Vietnam, 82 % of the population prefers low sodium and low-fat edible oil, and 34 % prefers trans-fat substitution as the risk of death has increased.

Vietnam Edible Oil Market

To Know More about this report, download a Free Sample Report

Health Concerns: With the emergence of the global pandemic, people all over the world have become health conscious. The government in Vietnam keeping in mind the public health has ordered the health authorities in making a move on promoting the consumption of low calorie, and cholesterol-free cooking oils. Vegetable oils from sunflower, rapeseed, soybean, palm, cottonseed, and coconut are highly used for their quality as well-known with their low-fat, low cholesterol, and low-calories content.

Monopoly Product: The entire edible oil market in Vietnam is currently growing at 8% with palm oil dominating the industry capturing a whopping 70% of the market share. Being solid at room temperature, palm oil has a competitive edge against competing ‘soft’ vegetable oil like soybean, sunflower and rapeseed oils because it can be readily used for semi-solid and solid food applications. The popularity of palm in Vietnam can be understood by the fact that the country is the second largest importer of palm oil in the entire ASEAN region. Palm oil is also used widely because of its low price. Widespread closures of restaurants, hotels due to COVID-19, reduced palm oil consumption in the foodservice industry in MY 2020/21. Post projects a higher use of palm oil in the food processing and food service sectors in MY 2021/22 as tourism resumes and industrial zones get back to a normal level of production.

Analysts at Ken Research in their latest publication, Vietnam Edible Oil Market Outlook 2026F- driven by Rise in Disposable Income, Prevalence of Health Problems and Increasing Inclination towards Healthy Lifestyle observed that the market will experience a steady uptick in the upcoming years. Rising income levels & demand for high quality oil are expected to be the main growth drivers in the upcoming years. Growing disposable income, an ageing population, and a preference for healthier lifestyles are some of the factors driving the market's expansion.

Key Segments Covered: -

By Type

  • Palm Oil
  • Rapeseed Oil
  • Soybean Oil
  • Coconut Oil
  • Others (Rice barn oil, Sesame oil, Peanut oil, sunflower oil and olive oil.)

To more about industry trends, Request a free Expert call

By Volume

  • Palm Oil
  • Rapeseed Oil
  • Soybean Oil
  • Coconut Oil
  • Others (Rice barn oil, Sesame oil, Peanut oil, sunflower oil and olive oil.)

By Mode of Sales

  • Online
  • Offline

By type Of Sales Channel

  • Super Market
  • Grocery Store
  • Convenience Store
  • Local market
  • Specialised Store

Key Target Audience

  • Supermarkets
  • High Income Individuals
  • Local Stores
  • Online Stores
  • Convenience Stores

Time Period Captured In the Report:

  • Historical Period: 2016-2021
  • Base Period: 2021
  • Forecast Period: 2022P-2026F

Companies Covered in Vietnam Edible Oil Market

  • Vinacommodities Corporation
  • Vocarimex (Calofic)
  • Kido Nha Be
  • Tuong An
  • Voe ( Vegetable Oil Extraction)
  • Quang Minh Corporation Joint Stock Company
  • South America Vegetable Oil Joint Stock Company
  • Otran Viet Nam Corporation
  • Vegetable Oil Trading JSC
  • PVN Oil ltd

Visit this Link Request for a custom report

Key Topics Covered:

  • Vietnam Edible Oil Market Outlook
  • Market Size of Vietnam Edible Oil Market, 2021
  • Forecast of Vietnam Edible Oil Market
  • Historical Data and Forecast of Vietnam Edible Oil Revenues & Volume
  • Vietnam Edible Oil Market Trend Evolution
  • Vietnam Edible Oil Market Drivers and Challenges
  • Vietnam Edible Oil Import Export Trade Statistics
  • Market Opportunity Assessment By Type, application, distribution channel
  • Vietnam Edible Oil Top Companies Market Share
  • Vietnam Edible Oil Competitive Benchmarking By Technical and Operational Parameters
  • Vietnam Edible Oil Company Profiles
  • Vietnam Edible Oil Key Strategic Recommendations

For more insights on the market intelligence, refer to the link below: -

Future Outlook of Vietnam Edible Oil Market

Related Report by Ken Research: -

India Edible Oil Market Outlook to 2022

Friday, December 30, 2022

The Edible Oil Market In Vietnam Is Now Growing At A Steady Rate, With Palm Oil Dominating The Industry: Ken Research

 Buy Now

Farm Mechanization: Although Farm mechanization in Vietnam is still in its nascent stages, it is now seeing a sudden rise due to favourable and targeted government policies. Lack of access to farm power is one of the primary reasons for the slow uptake of farm mechanization and hence the non-intensification of farm productivity, particularly among small and marginal farmers. Moreover, the sector faces critical challenges in terms of a large share of small and marginal farmers, declining land holding sizes, high cost of farm machinery and equipment, inappropriate technology, undeveloped markets, complex operations, maze of legislation and insufficient policy framework. A steady change has been witnessed in recent years with farmers being able to access farm machinery on a rental basis. Furthermore, Substantial public investments including those in agricultural R&D and irrigation infrastructure, as well as the acceleration of the economic transformation in the county, are likely to stimulate the demand for machine use.

Lifestyle Changes: As urbanization increases in developing countries, dietary habits and traditional meal patterns are expected to shift towards processed foods that have a high content of vegetable oil. Vegetable oil consumption in Vietnam is, therefore, expected to remain high due to high population growth and consequent urbanization. Inclination towards processed food has also been exaggerated by a busy lifestyle & a decline in the desire to cook meals at home. On the other hand, people who are health conscious are expressing their desire to purchase & consume healthy meals containing healthy & nutritious oils. This has led to many people purchasing premium products thereby increasing the demand for high-quality edible oil.

vietnam-edible-oil-market

To Know More about this report, download a Free Sample Report

Rising Disposable Income: With the annual income increasing, individuals are expressing their inclination towards better quality food products including edible oils. This can also be attributed to them having extra money to save or spend which compels a person to go ahead with premium products in every sphere. Moreover, a rise in income is also the root cause for a person trying to maintain a certain lifestyle.

Covid Impact: Despite the COVID-19 pandemic, Vietnam has seen an increase in the production and consumption of refined vegetable oils, especially rice bran oil. Moreover, palm oil exports have also increased manifold even though there was a decrease in the imports of the same in 2021. According to TDM, in 2020/21, Vietnam imported 915,000.0 tons of palm oil, down 9.0% compared to the previous year due to COVID-19 restrictions that impacted the food service, food processing, and tourism sectors. Palm oil accounted for about 92.0% of the total vegetable oil imports in 2020/21 due to its low price. The two main palm oil suppliers are Indonesia and Malaysia.

Analysts at Ken Research in their latest publication, Vietnam Edible Oil Market Outlook 2026F- driven by Rise in Disposable Income, Prevalence of Health Problems and Increasing Inclination towards Healthy Lifestyle observed that the market will experience a steady uptick in the upcoming years. Rising income levels & demand for high-quality oil are expected to be the main growth drivers in the upcoming years. Growing disposable income, an ageing population, and a preference for healthier lifestyles are some of the factors driving the market's expansion. It is expected that the Vietnam Edible Oil market will grow at a CAGR of 7.7% (2021-2026) for the foreseeable future.

Key Segments Covered: -

By Type

  • Palm Oil
  • Rapeseed Oil
  • Soybean Oil
  • Coconut Oil
  • Others (Rice barn oil, Sesame oil, Peanut oil, sunflower oil and olive oil.)

To more about industry trends, Request a free Expert call

By Volume

  • Palm Oil
  • Rapeseed Oil
  • Soybean Oil
  • Coconut Oil
  • Others (Rice barn oil, Sesame oil, Peanut oil, sunflower oil and olive oil.)

By Mode of Sales

  • Online
  • Offline

By type Of Sales Channel

  • Super Market
  • Grocery Store
  • Convenience Store
  • Local market
  • Specialised Store

Key Target Audience

  • Supermarkets
  • High-Income Individuals
  • Local Stores
  • Online Stores
  • Convenience Stores

Time Period Captured In the Report:

  • Historical Period: 2016-2021
  • Base Period: 2021
  • Forecast Period: 2022P-2026F

Companies Covered in Vietnam Edible Oil Market

  • Vinacommodities Corporation
  • Vocarimex (Calofic)
  • Kido Nha Be
  • Tuong An
  • Voe ( Vegetable Oil Extraction)
  • Quang Minh Corporation Joint Stock Company
  • South America Vegetable Oil Joint Stock Company
  • Otran Viet Nam Corporation
  • Vegetable Oil Trading JSC
  • PVN Oil ltd

Visit this Link Request for a custom report

Key Topics Covered:

  • Vietnam Edible Oil Market Outlook
  • Market Size of Vietnam Edible Oil Market, 2021
  • Forecast of Vietnam Edible Oil Market
  • Historical Data and Forecast of Vietnam Edible Oil Revenues & Volume
  • Vietnam Edible Oil Market Trend Evolution
  • Vietnam Edible Oil Market Drivers and Challenges
  • Vietnam Edible Oil Import Export Trade Statistics
  • Market Opportunity Assessment By Type, application, distribution channel
  • Vietnam Edible Oil Top Companies Market Share
  • Vietnam Edible Oil Competitive Benchmarking By Technical and Operational Parameters
  • Vietnam Edible Oil Company Profiles
  • Vietnam Edible Oil Key Strategic Recommendations

For more insights on market intelligence, refer to the link below: -

Future Outlook of Vietnam Edible Oil Market

Related Report by Ken Research: -

India Edible Oil Market Outlook to 2022

The Edible Oil Market In Vietnam Is Now Growing At A Steady Rate, With Palm Oil Dominating The Industry: Ken Research

Farm Mechanization: Although Farm mechanization in Vietnam is still in its nascent stages, it is now seeing a sudden rise due to favourable and targeted government policies. Lack of access to farm power is one of the primary reasons for the slow uptake of farm mechanization and hence the non-intensification of farm productivity, particularly among small and marginal farmers. Moreover, the sector faces critical challenges in terms of a large share of small and marginal farmers, declining land holding sizes, high cost of farm machinery and equipment, inappropriate technology, undeveloped markets, complex operations, maze of legislation and insufficient policy framework. A steady change has been witnessed in recent years with farmers being able to access farm machinery on a rental basis. Furthermore, Substantial public investments including those in agricultural R&D and irrigation infrastructure, as well as the acceleration of the economic transformation in the county, are likely to stimulate the demand for machine use.

Lifestyle Changes: As urbanization increases in developing countries, dietary habits and traditional meal patterns are expected to shift towards processed foods that have a high content of vegetable oil. Vegetable oil consumption in Vietnam is, therefore, expected to remain high due to high population growth and consequent urbanization. Inclination towards processed food has also been exaggerated by a busy lifestyle & a decline in the desire to cook meals at home. On the other hand, people who are health conscious are expressing their desire to purchase & consume healthy meals containing healthy & nutritious oils. This has led to many people purchasing premium products thereby increasing the demand for high-quality edible oil.

vietnam-edible-oil-market

To Know More about this report, download a Free Sample Report

Rising Disposable Income: With the annual income increasing, individuals are expressing their inclination towards better quality food products including edible oils. This can also be attributed to them having extra money to save or spend which compels a person to go ahead with premium products in every sphere. Moreover, a rise in income is also the root cause for a person trying to maintain a certain lifestyle.

Covid Impact: Despite the COVID-19 pandemic, Vietnam has seen an increase in the production and consumption of refined vegetable oils, especially rice bran oil. Moreover, palm oil exports have also increased manifold even though there was a decrease in the imports of the same in 2021. According to TDM, in 2020/21, Vietnam imported 915,000.0 tons of palm oil, down 9.0% compared to the previous year due to COVID-19 restrictions that impacted the food service, food processing, and tourism sectors. Palm oil accounted for about 92.0% of the total vegetable oil imports in 2020/21 due to its low price. The two main palm oil suppliers are Indonesia and Malaysia.

Analysts at Ken Research in their latest publicationVietnam Edible Oil Market Outlook 2026F– driven by Rise in Disposable Income, Prevalence of Health Problems and Increasing Inclination towards Healthy Lifestyle observed that the market will experience a steady uptick in the upcoming years. Rising income levels & demand for high-quality oil are expected to be the main growth drivers in the upcoming years. Growing disposable income, an ageing population, and a preference for healthier lifestyles are some of the factors driving the market’s expansion. It is expected that the Vietnam Edible Oil market will grow at a CAGR of 7.7% (2021-2026) for the foreseeable future.

Key Segments Covered: –

By Type

  • Palm Oil
  • Rapeseed Oil
  • Soybean Oil
  • Coconut Oil
  • Others (Rice barn oil, Sesame oil, Peanut oil, sunflower oil and olive oil.)

To more about industry trends, Request a free Expert call

By Volume

  • Palm Oil
  • Rapeseed Oil
  • Soybean Oil
  • Coconut Oil
  • Others (Rice barn oil, Sesame oil, Peanut oil, sunflower oil and olive oil.)

By Mode of Sales

  • Online
  • Offline

By type Of Sales Channel

  • Super Market
  • Grocery Store
  • Convenience Store
  • Local market
  • Specialised Store

Key Target Audience

  • Supermarkets
  • High-Income Individuals
  • Local Stores
  • Online Stores
  • Convenience Stores

Time Period Captured In the Report:

  • Historical Period: 2016-2021
  • Base Period: 2021
  • Forecast Period: 2022P-2026F

Companies Covered in Vietnam Edible Oil Market

  • Vinacommodities Corporation
  • Vocarimex (Calofic)
  • Kido Nha Be
  • Tuong An
  • Voe ( Vegetable Oil Extraction)
  • Quang Minh Corporation Joint Stock Company
  • South America Vegetable Oil Joint Stock Company
  • Otran Viet Nam Corporation
  • Vegetable Oil Trading JSC
  • PVN Oil ltd

Visit this Link Request for a custom report

Key Topics Covered:

  • Vietnam Edible Oil Market Outlook
  • Market Size of Vietnam Edible Oil Market, 2021
  • Forecast of Vietnam Edible Oil Market
  • Historical Data and Forecast of Vietnam Edible Oil Revenues & Volume
  • Vietnam Edible Oil Market Trend Evolution
  • Vietnam Edible Oil Market Drivers and Challenges
  • Vietnam Edible Oil Import Export Trade Statistics
  • Market Opportunity Assessment By Type, application, distribution channel
  • Vietnam Edible Oil Top Companies Market Share
  • Vietnam Edible Oil Competitive Benchmarking By Technical and Operational Parameters
  • Vietnam Edible Oil Company Profiles
  • Vietnam Edible Oil Key Strategic Recommendations

For more insights on market intelligence, refer to the link below: –

Future Outlook of Vietnam Edible Oil Market

Related Report by Ken Research: –

India Edible Oil Market Outlook to 2022