From Kantar Worldpanel Vietnam
With the positive figures in 2020, Vietnam economy is expected to further recover in 2021. In the first month of 2021 there was a strong uplift in domestic demand, export and import.
FMCG for in-home consumption marked a remarkable year, hitting a robust growth in 2020 amid the pandemic, driven by the increase in volume consumption. Yet, in short-term, consumer demand on groceries is getting back to pre-pandemic level.
Packaged Foods is the most successful sector and is the main driver of the abnormal spike in FMCG market throughout the year of stay-at-home economy.
Drinking yogurt with health benefits has been growing over the past few years, especially functional segment. The category growth continues in 2020 given the COVID-19 situation. With consumers’ increasing priority on health, drinking yogurt has potential to further grow in both consumer base and volume consumption.
2020 was a year of double-digit growth for almost all channels in terms of FMCG sales. Beside drug stores and pharmacy providing hygiene and disinfection products, channels that offer a wide range of categories including fresh foods have benefited from the increased consumer demand on essentials and basic needs.
Spotlight: Share of Vietnamese’s Wallet Amid COVID-19:
Consumers’ spending cut on out-of-home activities such as transportation, entertainment, holiday/travel and savings at the expenses of Food & Consumer Packaged Goods (CPG) is a common behavior of Vietnamese households in the context of the health crisis.
Note: Urban 4 cities include Ho Chi Minh, Ha Noi, Da Nang and Can Tho.
To read the full Kantar report – Vietnam’s FMCG Monitor Full Year 2020 ... CLICK HERE!!